Common use of Direction by Participant Clause in Contracts

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-Dealer. If a Participant selects a Mutual Fund Only XXX, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-Dealer. If a Participant selects a Mutual Fund Only XXXIRA, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX IRA can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX IRA Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX IRA to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-Dealer. If a Participant selects a Mutual Fund Only Xxxx XXX, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only Xxxx XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only Xxxx XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only Xxxx XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain gain, or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, investments to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXXIRA, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX IRA can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account IRA and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX IRA to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only Xxxx XXX, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only Xxxx XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only Xxxx XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only Xxxx XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain gain, or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only Xxxx XXX, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only Xxxx XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only Xxxx XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only Xxxx XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain gain, or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, investments to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXX, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-Dealer. If a Participant selects a Mutual Fund Only XXXIRA, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX IRA can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX IRA Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX IRA to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect atfect the value of the Account, and that the growth in value of an Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, investments to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXX, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect atfect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, investments to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian Traditional XXX Custodial Account Agreement shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXX, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, investments to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXXIRA, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX IRA can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account IRA and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX IRA to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect atfect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, investments to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXXIRA, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX IRA can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account IRA and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX IRA to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-Dealer. If a Participant selects a Mutual Fund Only XXX, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect atfect the value of the Account, and that the growth in value of an Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXX, the Participant shall limit all direction of investments in SIMPLE XXX Custodial Account Agreement the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXXIRA, the Participant shall limit all direction of investments in the Custodial Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX IRA can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account IRA and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX IRA to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereon. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXX, the Participant shall limit all direction of investments in the Custodial inthe Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.

Direction by Participant. All investment instructions of the Participant shall be accepted by the Custodian subject to and in accordance with the Custodian’s established customs and procedures. Each Participant shall direct the Custodian with respect to the investment of all contributions to his or her Account and the earnings thereonxxxxxxx. Such direction shall be limited to publicly traded securities, covered call options, covered put options, debit spreads, long put and long call options, mutual funds, money market instruments, and other investments, to the extent that they are obtainable through and subject to the custody of the Custodian in the Custodian’s regular course of business, and subject to such other limitations as may be agreed to by the Participant and Introducing Broker-DealerFinancial Institution. In the absence of such directions, the Custodian shall have no investment responsibility. If a Participant selects a Mutual Fund Only XXXIRA, the Participant shall limit all direction of investments in the Custodial inthe Account to shares issued by a domestic Regulated Investment Company. However, funds in a Mutual Fund Only XXX IRA can be held temporarily in a cash or money market account while awaiting investment. In the event the Participant elects a Mutual Fund Only XXX Custodial Account IRA and does not limit all direction of investments to mutual funds only, the Custodian in the Custodian’s sole discretion and without prior consent of the Participant may convert the Custodial Account from a Mutual Fund Only XXX IRA to the appropriate Custodial Account type. In the absence of such directions, the Custodian shall have no investment responsibility. All transactions directed by the Participant shall be subject to the rules, regulations, customs, and usages of the exchange, market, or clearing house where executed, and to all applicable federal and state laws and regulations, and to internal policies of the Custodian. The Custodian reserves the right not to accept assets intended for deposit to the Account and may at any time require liquidation or transfer of any asset held in the Custodial Account if the Custodian determines that maintaining custody of any such asset is not in accordance with the Custodian’s administrative or operational requirements and regular business practices. The Participant understands that the Custodian shall attribute earnings only to assets held in the Account while in the custody of the Custodian. The Participant understands that the income from, and gain or loss on, each investment the Participant selects for the Account will affect the value of the Account, and that the growth in value of an the Account cannot be guaranteed or projected.