Common use of COMMISSIONS AND OTHER FEES Clause in Contracts

COMMISSIONS AND OTHER FEES. Your Broker will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker with any questions. Additional fees may apply. Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Option Reporting Fee $0.04 per contract Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 ACCOUNT TRANSFER/DELIVERIES BETWEEN BROKER DEALERS OR OTHERAGENTS/MUTUAL FUND COMPANIES Account Transfer Fee (ACAT) $100 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Option Reporting Fee $0.04 per contract Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agentstransferagents, third party custodians and foreign exchanges.. The HTS Margin Base Rate is: 4.99%

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmationconfi rmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in stre et name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total share s tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicable securities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handling and insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 11.56% 2.07% 25,000 – 99,999 10.81% 1.32% 100,000 – 299,999 10.09% 0.60% 300,000 -,999,999 9.77% 0.28% 1,000,000+ 9.09% -0.40%

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total shares tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicable securities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handling and insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 11.81% 2.07% 25,000 – 99,999 11.06% 1.32% 100,000 – 299,999 10.34% 0.60% 300,000 -,999,999 10.02% 0.28% 1,000,000+ 9.34% -0.40% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of September 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various broker, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/software, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities industry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour. Scenario: One of our major telecommunications vendors loses a key central office or service offering. (Impact: Nationwide and/or firm only) HTS plans to continue business during this type of

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total share s tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicable securities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handling and insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 12.06% 2.07% 25,000 – 99,999 11.31% 1.32% 100,000 – 299,999 10.59% 0.60% 300,000 -,999,999 10.27% 0.28% 1,000,000+ 9.59% -0.40% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of September 11, 2001 emphasized the importance of th e capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the po tential to impact our ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various broker, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our off ices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In add ition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media an d/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/software, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission cr itical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities indust ry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of eve nt and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour. Scenario: One of our major telecommunications vendors loses a key central office or service offering. (Impact: Nationwide and/or firm only) HTS plans to continue business during this type of

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmationconfi rmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in stre et name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total share s tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicable securities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handling and insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 11.81% 2.07% 25,000 – 99,999 11.06% 1.32% 100,000 – 299,999 10.34% 0.60% 300,000 -,999,999 10.02% 0.28% 1,000,000+ 9.34% -0.40%

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 ACCOUNT TRANSFER/DELIVERIES BETWEEN BROKER DEALERS OR OTHERAGENTS/MUTUAL FUND COMPANIES Account Transfer Fee (ACAT) $100 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Option Reporting Fee $0.04 per contract Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agentstransferagents, third party custodians and foreign exchanges. The HTS Margin Base Rate is: 9.24+ Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of September 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various financial professional, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/software, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities industry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total shares tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 ACCOUNT TRANSFER/DELIVERIES BETWEEN BROKER DEALERS OR OTHERAGENTS/MUTUAL FUND COMPANIES Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicablesecurities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handlingand insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agentstransferagents, third party custodians and foreign exchanges. MARGIN RATES (HTS Standard Rates) See below table Debit Balance Current Actual Rate Base Rate of 8.74+ 0 – 24,999 10.81% 2.07% 25,000 – 99,999 10.06% 1.32% 100,000 – 299,999 9.34% 0.60% 300,000 -,999,999 9.02% 0.28% 1,000,000+ 8.34% -0.40% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of September 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various broker, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/software, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities industry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total shares tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 ACCOUNT TRANSFER/DELIVERIES BETWEEN BROKER DEALERS OR OTHERAGENTS/MUTUAL FUND COMPANIES Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicablesecurities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handlingand insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agentstransferagents, third party custodians and foreign exchanges. MARGIN RATES (HTS Standard Rates) See below table Debit Balance Current Actual Rate Base Rate of 7.99+ 0 – 24,999 10.06% 2.07% 25,000 – 99,999 9.31% 1.32% 100,000 – 299,999 8.59% 0.60% 300,000 -,999,999 8.27% 0.28% 1,000,000+ 7.59% -0.40% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of September 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various broker, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/software, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities industry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should shoul d consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Option Reporting Fee $0.04 per contract Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges. The HTS Margin Base Rate is: 9.49+ Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of Septemb er 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you . This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These function s are provided primarily in Dallas, Texas with various financial professional, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasize d the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our perso nnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/soft ware, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers du ring normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial -up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted session s. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypoth etical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities in dustry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flo w away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmationconfi rmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in stre et name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total share s tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicable securities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handling and insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table Debit Balance Current Actual Rate Base Rate of 9.74+ 0 – 24,999 11.81% 2.07% 25,000 – 99,999 11.06% 1.32% 100,000 – 299,999 10.34% 0.60% 300,000 -,999,999 10.02% 0.28% 1,000,000+ 9.34% -0.40%

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmationconfi rmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Option Reporting Fee $0.04 per contract Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges. The HTS Margin Base Rate is: 4.99% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of Septemb er 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact o ur ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These function s are provided primarily in Dallas, Texas with various financial professional, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasize d the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/soft xxxx, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers du ring normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connectio ns ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet throu gh encrypted sessions. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities in dustry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of eve nt and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmationconfi rmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in stre et name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total share s tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicable securities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handling and insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 12.06% 2.07% 25,000 – 99,999 11.31% 1.32% 100,000 – 299,999 10.59% 0.60% 300,000 -,999,999 10.27% 0.28% 1,000,000+ 9.59% -0.40% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of Septemb er 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you. This disclosure document is designed t o provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various broker, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of per sonnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media an d/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/soft ware, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission cr itical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities in dustry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total shares tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 ACCOUNT TRANSFER/DELIVERIES BETWEEN BROKER DEALERS OR OTHERAGENTS/MUTUAL FUND COMPANIES Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicablesecurities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handlingand insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agentstransferagents, third party custodians and foreign exchanges. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 10.81% 2.07% 25,000 – 99,999 10.06% 1.32% 100,000 – 299,999 9.34% 0.60% 300,000 -,999,999 9.02% 0.28% 1,000,000+ 8.34% -0.40% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of September 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various broker, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/software, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities industry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total share s tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicable securities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handling and insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 11.81% 2.07% 25,000 – 99,999 11.06% 1.32% 100,000 – 299,999 10.34% 0.60% 300,000 -,999,999 10.02% 0.28% 1,000,000+ 9.34% -0.40%

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should shoul d consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Option Reporting Fee $0.04 per contract Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges. The HTS Margin Base Rate is: 9.74+ Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of Septemb er 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you . This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These function s are provided primarily in Dallas, Texas with various financial professional, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasize d the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our perso nnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/soft ware, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers du ring normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial -up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted session s. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypoth etical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities in dustry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flo w away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total shares tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 ACCOUNT TRANSFER/DELIVERIES BETWEEN BROKER DEALERS OR OTHERAGENTS/MUTUAL FUND COMPANIES Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicablesecurities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handlingand insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agentstransferagents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 11.31% 2.07% 25,000 – 99,999 10.56% 1.32% 100,000 – 299,999 9.84% 0.60% 300,000 -,999,999 9.52% 0.28% 1,000,000+ 8.84% -0.40%

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total shares tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 ACCOUNT TRANSFER/DELIVERIES BETWEEN BROKER DEALERS OR OTHERAGENTS/MUTUAL FUND COMPANIES Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicablesecurities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handlingand insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agentstransferagents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 10.06% 2.07% 25,000 – 99,999 9.31% 1.32% 100,000 – 299,999 8.59% 0.60% 300,000 -,999,999 8.27% 0.28% 1,000,000+ 7.59% -0.40%

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total shares tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 ACCOUNT TRANSFER/DELIVERIES BETWEEN BROKER DEALERS OR OTHERAGENTS/MUTUAL FUND COMPANIES Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicablesecurities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handlingand insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agentstransferagents, third party custodians and foreign exchanges. MARGIN RATES (HTS Standard Rates) See below table Debit Balance Current Actual Rate Base Rate of 9.24+ 0 – 24,999 11.31% 2.07% 25,000 – 99,999 10.56% 1.32% 100,000 – 299,999 9.84% 0.60% 300,000 -,999,999 9.52% 0.28% 1,000,000+ 8.84% -0.40% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of September 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various broker, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/software, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities industry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour.

COMMISSIONS AND OTHER FEES. Your Broker Financial Professional will set the commissions or miscellaneous fees, if any, to be charged to you on security transactions reflected on your confirmation. You should consult your Broker Financial Professional for details of his commission charges. Commission and fees are subject to change without notice. Please contact your Broker Financial Professional with any questions. Additional fees may apply. Charges are for street name or customer name positions and securities delivered to HTS. If the securities are held in street name or customer name, the fee will be based on shares accepted for tender, not on returned (unaccepted) shares. For shares delivered to HTS for tender, the fee will be based on total shares tendered, including any pro-rated shares. Customer charges and fees include: Vision Check - Reorders $15 Vision Check - Rush Orders $22.50 Vision Check - Stop Payment $25 Vision Check - Returned Check $25 Vision Check - Photocopy of canceled check $10 Vision Check Writing Termination $25 Visa Platinum Debit Card - Annual Fee $50 Account Transfer Fee (ACAT) $100 150 Account Transfer Fee (Non-ACAT) $150 Delivery of Book Entry Securities (Per Issue) $25 Receipt/Delivery of Foreign Securities $100 Wire Transfer - US Bank $20 Wire Transfer - Foreign Bank $50 Prepay Fee $20 plus interest calculated at margin debit rate Cleared Check Copy $20 Stop Payment $25 Returned Deposit Item $35 Returned Outgoing Wire Transfer Fee $25 Accommodation Fee $25 Regular Next Day $25 Priority Next Day $30 Saturday Delivery $40 Foreign Address $60 USPS Priority Mail $6 Low-Priced/Large Quantity Review/Processing Fee $300* Legal Transfer Fee $50* Non-Equity Physical Processing Fee $150* Non-DTCC Eligible Receipt/Delivery $100* RVP/DVP Fee $50* Certificate Handling Fee $50 DRS Deposit/Withdrawal $50* DTC/Non-DRS Participating Issuers Fee $300* DWAC Deposit/Withdrawal $75* Exercising Employee Stock Options $50* Exercising Warrants or Rights Subscriptions $25 Canadian Deposit $150* Foreign Deposit $250* Canadian Settlement $50* Foreign Settlement $100* Transfer Agent Fee Pass through fees* DTCC Deposit $12 DTCC Legal Deposit $50 DTCC Withdrawal by Transfer $500 DTCC/TA Reject $125 DTCC DRS Reject $75 DTCC New York Window Settlement $50* DTCC Envelope Settlement Service $35 Customer Research or Document Reproduction Fee $25 per hour Annual Safekeeping Fee $50 per position Bond Fees (Purchase or Sale) $5 for T-Bills and $15 for T- Notes, T-Bonds and other Government Instruments Redemption / Termination $25 Corporate Action Deposits $90 Corporate Action Physical Certificates $6* Foreign Tax Elections $50 Mandatory Corporate Action $10 per event Mutual Fund Positions Networking Fee $50 Mutual Fund Transaction Fee Service fees may be charged Non-Networked Mutual Fund Annual Maintenance Fee $100 per position Option Reporting Fee $0.04 per contract Other Regulatory Fees: A regulatory fee may be assessed on the sell side of all applicable securities transactions. Private Placement /Limited Partnership Annual Safekeeping fee $100 Private Placement /Limited Partnership Re-registration of any kind $75 Private Placement /Limited Partnership Transfer in Purchase and Sale $75 Processing, Handling and Insurance: All transactions are subject to a processing, handling and insurance charge Voluntary Corporate Action Instruction $50 per instruction Annual Fee $45 75 Account Termination $50 Qualified Plans $250 Primary Annual HOLDING and REPORTING FEE $50 *Pass through fees may include, but are not limited to, charges from DTCC, transfer agents, third party custodians and foreign exchanges.. MARGIN RATES (HTS Standard Rates) See below table 0 – 24,999 11.56% 2.07% 25,000 – 99,999 10.81% 1.32% 100,000 – 299,999 10.09% 0.60% 300,000 -,999,999 9.77% 0.28% 1,000,000+ 9.09% -0.40% Hilltop Securities Inc., (“HTS”), provides services using computer systems and financial relationships. The events of September 11, 2001 emphasized the importance of the capital markets to our economy. As a result, we have been working to improve our responses to various situations that have the potential to impact our ability to serve you. This disclosure document is designed to provide you with information on how we have approached and/or plan to approach various situations that we may encounter. Hilltop Securities Inc., a Member Firm of the New York Stock Exchange, is a full-service brokerage firm providing customers with execution services on all major exchanges and access to all major markets. In addition, HTS performs, as agent, certain execution and clearing functions for independent brokerage firms. These functions are provided primarily in Dallas, Texas with various broker, trading, stock-loan and investment banking offices located in other locations in the United States. HTS uses various mission critical systems to provide these services to our customers. These systems are housed at one of our data centers, one of our offices, or at a third party service provider, exchange or utility. Our business continuity planning (“BCP”) first insures the safety and security of our employees. The events of 9/11 emphasized the unique skill sets of personnel who work in our industry and the need to put their safety first so that after an interruption they are available to continue serving our customers. In addition to protecting our personnel, our BCP and daily operations are focused on preserving our critical firm and customer data through regular backups which are moved offsite either via media and/or real time and near real time electronic copies of our data at remote locations. In 1996 we added a second data center in one of the suburbs of Dallas which houses our backup hardware/software, real time data copies and back office recovery space. We have constructed high bandwidth networks between our two data centers allowing us to utilize the resources of both centers during normal production, as well as facilitating the real time movement of data from the primary data servers to the backup data servers. Finally, our industry is heavily interconnected with data connections ranging from dial-up modem communication, dedicated private lines, frame relay technology and, in many cases, the Internet through encrypted sessions. Where mission critical systems are involved, we have installed, where possible, redundant connections to the exchanges, utilities and counterparties involved. The details of our BCP are proprietary and contain information which is confidential and in many cases potentially harmful to HTS and our customers if publicly available. The following series of event scenarios are presented to disclose to you our planned approach for dealing with a variety of hypothetical Significant Business Disruptions (“SBD’s”), but based on the number of variables present in each situation, HTS can’t guarantee we will follow these plans. Scenario: An event occurs that, like 9/11, causes the complete shutdown of securities trading, clearance/ settlement or other banking services nationwide. (Impact: Nationwide) HTS plans to continue business during this type of event and will await the reopening of the affected institutions. Unless a securities industry holiday is declared, we plan to be open each business day until full functionality is restored. The recovery time in this scenario will be dependent on the timing specified by the impacted organizations. We plan to be ready to open when they reopen. Scenario: A specific exchange is unable to trade. (Impact: Nationwide) HTS plans to continue business during this type of event and will route its order flow away from that exchange to alternative exchanges for the securities that exchange trades. Our recovery time objective for this scenario is less than one hour. Scenario: One of our major telecommunications vendors loses a key central office or service offering. (Impact: Nationwide and/or firm only) HTS plans to continue business during this type of