Common use of Exclusions, Limitations of Liability and Indemnity Clause in Contracts

Exclusions, Limitations of Liability and Indemnity. 23.1. Nothing in the Account Agreement shall exclude or restrict any duty or liability owed by us to you under Applicable Law. Apart from the foregoing, neither we, nor any third party shall be liable for any Losses whether arising out of our gross negligence, fraud or wilful misconduct, incurred or suffered by you or your directors, officers, employees in connection with your trading activities under the Account Agreement (including any Transaction or where we have declined to enter into a proposed Transaction) unless such Losses arise directly from our gross negligence, fraud or wilful misconduct. 23.2. Without limitation, we will not be responsible or liable: (a) for the performance or profitability of your Account or any part thereof; (b) for any Loss that you suffer in an event where any computer viruses, software bombs, or similar items are introduced into your computer hardware or software via the System; (c) for any actions we may take pursuant to our rights under the Account Agreement; (d) for any Losses of any kind arising out of, or in connection with, the placement of Orders or the execution of Transactions; (e) for any act or omission of an intermediate broker or agent; (f) for any adverse tax implications of any Transaction whatsoever; (g) by reason of any delay or change in market conditions before any particular Order is executed; and (h) for communication failures (including telecommunication network failures), distortions or delays whether in connection with the System, your Account or otherwise. 23.3. You agree to reimburse, indemnify and hold us harmless for any and all Losses arising out of any act or omission on your part, the part of any persons authorised by you or any persons who we reasonably believe to be acting with authority on your behalf, including the Authorised Persons, which we may incur in connection with: (a) the provision of Services or products to you in connection with the Account Agreement; (b) any of your Accounts or any Transaction; (c) as a result of any misrepresentation by you or any violation by you of your obligations under the Account Agreement (including any Transaction); or (d) as the result of the enforcement of our rights under the Account Agreement or any Applicable Law. Except in each case to the extent where any such Losses arise as a result of our gross negligence, wilful misconduct or fraud. 23.4. We will not be obliged to take or refrain from taking any action wholly or partly as a result of an event or state of affairs which was beyond our reasonable control to prevent and the effect of which is beyond our reasonable power to avoid, including, without limitation: any change in the law, any Applicable Law, failure of any exchange or clearing house or settlement system, war, terrorism, civil unrest, any breakdown or failure of transmission or communication or computer facilities, postal or other strikes or similar industrial action in each case whether actual, threatened or anticipated. 23.5. We will not be liable to you, your directors, officers, or employees for any partial or total non- performance of our obligations or delay in performance by reason of any cause beyond our reasonable control including, without limitation, (i) any failure or delay by any exchange, market, or clearing house, or broker or dealer, in performing its obligations (including with respect to the delivery or re-delivery of assets) with respect to any Transactions executed and/or cleared for the Account, or (ii) the imposition, introduction, amendment or change (including a change in interpretation) of any legislation, regulation, directive or policy by any governmental or supranational body, exchange, regulatory or self-regulatory organisation, market clearing house or any failure or delay by any of the foregoing in enforcing such legislation, regulation or policy.

Exclusions, Limitations of Liability and Indemnity. 23.133.1. Nothing The exclusions and limitations of liability as set out in the Account Agreement this clause 33 shall exclude or restrict any duty or liability owed by apply between you and us to you under the fullest extent permitted by Applicable Law. Apart from the foregoingSubject to clause 33.2, neither we, nor any member of the ADSS Group or any third party shall will be liable to you for any Losses whether arising out of our gross negligence, fraud breach of contract, misrepresentation or wilful misconductotherwise, incurred or suffered by you or your directors, officers, officers or employees in connection with your trading activities under the Account Agreement these Terms (including any Transaction or where we have declined to enter into a proposed Transaction) unless such Losses arise Loss arises directly from our gross negligence, fraud willful default or wilful misconductfraud. 23.233.2. Without limitation, we will not be responsible or liable: (a) for For the performance or profitability of your Account or any part thereof; (b) for For any Loss loss that you suffer in an event where any computer viruses, worms, software bombs, or similar items are introduced into your computer hardware or software via the System; (c) for For any actions we may take pursuant to our rights under the Account Agreement;these Terms; ADSS-Public ADSS Terms of Business - 20190911 22 / 30 (d) for For any Losses of any kind Loss arising out of, of or in connection with, with the placement of Orders or the execution of Transactions; (e) for any act or omission of an intermediate broker or agent; (f) for For any adverse tax implications of any Transaction whatsoever; (gf) For Losses incurred by reason of any delay or change in market conditions before any particular Order is executed; (g) For Losses which are indirect, special, incidental, punitive, or consequential, such as loss of profits or revenues, loss of goodwill or reputation, lost data, loss of use of the System, business interruption costs or loss of business opportunity (unless we are prohibited by Applicable Law from excluding such liability); and (h) for For communication failures (including telecommunication network failures), distortions or delays whether in connection with the System, your Account or otherwise. 23.333.3. You agree to reimburse, indemnify on demand and hold us and any member of the ADSS Group (collectively, “Indemnified Persons”) harmless for any and all Losses arising out of any direct or indirect act or omission on your part, the part of any persons authorised by you from time to time or any persons who we reasonably believe to be acting with authority on your behalf, including the Authorised Persons, behalf which we or any member of the ADSS Group may incur in connection with: (a) the The provision of Services services or products to you in connection with the Account Agreementthese Terms; (b) any Any of your Accounts or any TransactionTransaction including any act or omission by any person having access to your Account, by using your designated Account number and/or password, whether or not you authorised such access; (c) as a result of any Any misrepresentation by you or any violation by you or failure by you to perform any of your obligations under the Account Agreement these Terms (including any Transaction); (d) Your use of programmable trading systems, whether built by you or by any third party and executed on or using the System; (e) Any Losses incurred by your customers where you have used the System for a commercial purpose and/or entered Orders or Transactions for the account of your customers; or (df) as As the result of the enforcement of our rights under the Account Agreement these Terms or any Applicable Law, except that this clause 33.3 shall not apply where a court, having proper jurisdiction to decide on the matter, has determined (in a final and non-appealable judgment) that the Losses in question have resulted primarily from the gross negligence, willful misconduct or fraud of an Indemnified Person. 33.4. Except in each case We will not be liable for any Losses resulting from any failure to perform our obligations hereunder to the extent where any that such Losses arise as failure to perform was, directly or indirectly, caused by a result of our gross negligence, wilful misconduct or fraud. 23.4Force Majeure Event. We will not be obliged to take or refrain from taking any action which becomes beyond our reasonable power to take or refrain from taking wholly or partly as a result of an event or state of affairs which was beyond our reasonable control to prevent and the effect of which is beyond our reasonable power to avoid, including, without limitation: any change in the law, any Applicable Law, failure of any exchange or clearing house or settlement system, war, terrorism, civil unrest, any breakdown or failure of transmission or communication or computer facilities, postal or other strikes or similar industrial action in each case whether actual, threatened or anticipated. 23.5a Force Majeure Event. We will not be liable to you, you or your directors, officers, officers or employees for any partial or total non- non-performance of our obligations or delay in performance by reason of a Force Majeure Event. 33.5. We shall not be liable to you for any cause beyond our reasonable control includingLosses resulting from a Manifest Error or any action which we take or refrain from taking in relation to a Transaction notwithstanding any Manifest Error, without limitation, (i) any failure or delay by any exchange, market, or clearing house, or broker or dealer, in performing its obligations (including with respect except to the delivery extent caused by our own fraud, willful default or re-delivery gross negligence. 33.6. Nothing in these Terms will limit our liability for death or personal injury resulting from our negligence. 33.7. Each other member of assetsthe ADSS Group shall be entitled to the benefit of the exclusions of liability and the rights of indemnity conferred on us under these Terms (whether under this clause 33.7 or elsewhere) with respect to any Transactions executed and/or cleared for the Account, or as if this clause (ii) the imposition, introduction, amendment or change (including a change in interpretation) of any legislation, regulation, directive or policy by any governmental or supranational body, exchange, regulatory or self-regulatory organisation, market clearing house or any failure or delay by any other relevant provision of these Terms) included a reference to each such member of the foregoing ADSS Group. The consent of other members of the ADSS Group is not required for any variation or rescission of the Terms agreed to by you and us or for any termination of these Terms in enforcing such legislation, regulation or policyaccordance with the provisions herein.

Exclusions, Limitations of Liability and Indemnity. 23.1. 23.1 Nothing in the Account Agreement shall exclude or restrict any duty or liability owed by us to you under Applicable Law. Apart from the foregoing, neither we, nor any third party shall be liable for any Losses whether arising out of our gross negligence, fraud or wilful misconduct, incurred or suffered by you or you, your directors, officers, employees in connection with your trading activities under the Account Agreement (including any Transaction or where we have declined to enter into a proposed Transaction) unless such Losses arise directly from our gross negligence, fraud or wilful misconduct. 23.2. 23.2 Without limitation, we will not be responsible or liable: (a) for the performance or profitability of your Account or any part thereof; (b) for any Loss that you suffer in an event where any computer viruses, software bombs, or similar items are introduced into your computer hardware or software via the System; (c) for any actions we may take pursuant to our rights under the Account Agreement; (d) for any Losses of any kind arising out of, of or in connection with, with the placement of Orders or the execution of Transactions; (e) for any act or omission of an intermediate broker or agent; (f) for any adverse tax implications of any Transaction whatsoever; (g) by reason of any delay or change in market conditions before any particular Order is executed; and (h) for communication failures (including telecommunication network failures), distortions or delays whether in connection with the System, your Account or otherwise. 23.3. 23.3 You agree to reimburse, indemnify and hold us harmless for any and all Losses arising out of any act or omission on your part, the part of any persons authorised by you or any persons who we reasonably believe to be acting with authority on your behalf, including the Authorised Persons, which we may incur in connection with: (a) the provision of Services or products to you in connection with the Account Agreement; (b) any of your Accounts or any Transaction; (c) as a result of any misrepresentation by you or any violation by you of your obligations under the Account Agreement (including any Transaction); or (d) as the result of the enforcement of our rights under the Account Agreement or any Applicable Law. Except in each case to the extent where any such Losses arise as a result of our gross negligence, wilful misconduct or fraud. 23.4. 23.4 We will not be obliged to take or refrain from taking any action wholly or partly as a result of an event or state of affairs which was beyond our reasonable control to prevent and the effect of which is beyond our reasonable power to avoid, including, including without limitation: any change in the law, any Applicable Law, failure of any exchange or clearing house or settlement system, war, terrorism, civil unrest, any breakdown or failure of transmission or communication or computer facilities, postal or other strikes or similar industrial action in each case whether actual, threatened or anticipated. 23.5. 23.5 We will not be liable to you, you or your directors, officers, or employees for any partial or total non- non-performance of our obligations or delay in performance by reason of any cause beyond our reasonable control including, without limitation, (i) any failure or delay by any exchange, market, or clearing house, or broker or dealer, in performing its obligations (including with respect to the delivery or re-delivery of assets) with respect to any Transactions executed and/or cleared for the Account, or (ii) the imposition, introduction, amendment or change (including a change in interpretation) of any legislation, regulation, directive or policy by any governmental govern- mental or supranational body, exchange, regulatory or self-regulatory organisation, market clearing house or any failure or delay by any of the foregoing in enforcing enforc- ing such legislation, regulation or policy.

Exclusions, Limitations of Liability and Indemnity. 23.1. Nothing 33.1 The exclusions and limitations of liability as set out in the Account Agreement this clause 33 shall exclude or restrict any duty or liability owed by apply between you and us to you under the fullest extent permitted by Applicable Law. Apart from the foregoingSubject to clause 33.2, neither we, nor any member of the ADSS Group or any third party shall will be liable to you for any Losses whether arising out of our gross negligence, fraud breach of contract, misrepresentation or wilful misconductotherwise, incurred or suffered by you or your directors, officers, officers or employees in connection with your trading activities under the Account Agreement these Terms (including any Transaction or where we have declined to enter into a proposed Transaction) unless such Losses arise Loss arises directly from our gross negligence, fraud willful default or wilful misconductfraud. 23.2. 33.2 Without limitation, we will not be responsible or liable: (a) for the performance or profitability of your Account or any part thereof; (b) for any Loss loss that you suffer in an event where any computer viruses, worms, software bombs, or similar items are introduced into your computer hardware or software via the System; (c) for any actions we may take pursuant to our rights under the Account Agreementthese Terms; (d) for any Losses of any kind Loss arising out of, of or in connection with, with the placement of Orders or the execution of Transactions; (e) for any act or omission of an intermediate broker or agent; (f) for any adverse tax implications of any Transaction whatsoever; (gf) for Losses incurred by reason of any delay or change in market conditions before any particular Order is executed; (g) for Losses which are indirect, special, incidental, punitive, or consequential, such as loss of profits or revenues, loss of goodwill or reputation, lost data, loss of use of the System, business interruption costs or loss of business opportunity (unless we are prohibited by Applicable Law from excluding such liability); and (h) for communication failures (including telecommunication network failures), distortions or delays whether in connection with the System, your Account or otherwise. 23.3. 33.3 You agree to reimburse, indemnify on demand and hold us and any member of the ADSS Group (collectively, “Indemnified Persons”) harmless for any and all Losses arising out of any direct or indirect act or omission on your part, the part of any persons authorised by you from time to time or any persons who we reasonably believe to be acting with authority on your behalf, including the Authorised Persons, behalf which we or any member of the ADSS Group may incur in connection with: (a) the provision of Services services or products to you in connection with the Account Agreementthese Terms; (b) any of your Accounts or any TransactionTransaction including any act or omission by any person having access to your Account, by using your designated Account number and/or password, whether or not you authorised such access; (c) as a result of any misrepresentation by you or any violation by you or failure by you to perform any of your obligations under the Account Agreement these Terms (including any Transaction); (d) your use of programmable trading systems, whether built by you or by any third party and executed on or using the System; (e) any Losses incurred by your customers where you have used the System for a commercial purpose and/or entered Orders or Transactions for the account of your customers; or (df) as the result of the enforcement of our rights under the Account Agreement these Terms or any Applicable Law. Except , except that this clause 33.3 shall not apply where a court, having proper jurisdiction to decide on the matter, has determined (in each case a final and non-appealable judgment) that the Losses in question have resulted primarily from the gross negligence, willful misconduct or fraud of an Indemnified Person. 33.4 We will not be liable for any Losses resulting from any failure to perform our obligations hereunder to the extent where any that such Losses arise as failure to perform was, directly or indirectly, caused by a result of our gross negligence, wilful misconduct or fraud. 23.4Force Majeure Event. We will not be obliged to take or refrain from taking any action which becomes beyond our reasonable power to take or refrain from taking wholly or partly as a result of an event or state of affairs which was beyond our reasonable control to prevent and the effect of which is beyond our reasonable power to avoid, including, without limitation: any change in the law, any Applicable Law, failure of any exchange or clearing house or settlement system, war, terrorism, civil unrest, any breakdown or failure of transmission or communication or computer facilities, postal or other strikes or similar industrial action in each case whether actual, threatened or anticipated. 23.5a Force Majeure Event. We will not be liable to you, you or your directors, officers, officers or employees for any partial or total non- non-performance of our obligations or delay in performance by reason of a Force Majeure Event. 33.5 We shall not be liable to you for any cause beyond our reasonable control includingLosses resulting from a Manifest Error or any action which we take or refrain from taking in relation to a Transaction notwithstanding any Manifest Error, without limitation, (i) any failure or delay by any exchange, market, or clearing house, or broker or dealer, in performing its obligations (including with respect except to the delivery extent caused by our own fraud, willful default or re-delivery gross negligence. 33.6 Nothing in these Terms will limit our liability for death or personal injury resulting from our negligence. 33.7 Each other member of assetsthe ADSS Group shall be entitled to the benefit of the exclusions of liability and the rights of indemnity conferred on us under these Terms (whether under this clause 33.7 or elsewhere) with respect to any Transactions executed and/or cleared for the Account, or as if this clause (ii) the imposition, introduction, amendment or change (including a change in interpretation) of any legislation, regulation, directive or policy by any governmental or supranational body, exchange, regulatory or self-regulatory organisation, market clearing house or any failure or delay by any other relevant provision of these Terms) included a reference to each such member of the foregoing ADSS Group. The consent of other members of the ADSS Group is not required for any variation or rescission of the Terms agreed to by you and us or for any termination of these Terms in enforcing such legislation, regulation or policyaccordance with the provisions herein.

Exclusions, Limitations of Liability and Indemnity. 23.133.1. Nothing The exclusions and limitations of liability as set out in the Account Agreement this clause 33 shall exclude or restrict any duty or liability owed by apply between you and us to you under the fullest extent permitted by Applicable Law. Apart from the foregoingSubject to clause 33.2, neither we, nor any member of the ADSS Group or any third party shall will be liable to you for any Losses whether arising out of our gross negligence, fraud breach of contract, misrepresentation or wilful misconductotherwise, incurred or suffered by you or your directors, officers, officers or employees in connection with your trading activities under the Account Agreement these Terms (including any Transaction or where we have declined to enter into a proposed Transaction) unless such Losses arise Loss arises directly from our gross negligence, fraud willful default or wilful misconductfraud. 23.233.2. Without limitation, we will not be responsible or liable:: June 16 V.1.0 Terms of Business 21/29 (a) for the performance or profitability of your Account or any part thereof; (b) for any Loss loss that you suffer in an event where any computer viruses, worms, software bombs, or similar items are introduced into your computer hardware or software via the System; (c) for any actions we may take pursuant to our rights under the Account Agreementthese Terms; (d) for any Losses of any kind Loss arising out of, of or in connection with, with the placement of Orders or the execution of Transactions; (e) for any act or omission of an intermediate broker or agent; (f) for any adverse tax implications of any Transaction whatsoever; (gf) for Losses incurred by reason of any delay or change in market conditions before any particular Order is executed; (g) for Losses which are indirect, special, incidental, punitive, or consequential, such as loss of profits or revenues, loss of goodwill or reputation, lost data, loss of use of the System, business interruption costs or loss of business opportunity (unless we are prohibited by Applicable Law from excluding such liability); and (h) for communication failures (including telecommunication network failures), distortions or delays whether in connection with the System, your Account or otherwise. 23.333.3. You agree to reimburse, indemnify on demand and hold us and any member of the ADSS Group (collectively, “Indemnified Persons”) harmless for any and all Losses arising out of any direct or indirect act or omission on your part, the part of any persons authorised by you from time to time or any persons who we reasonably believe to be acting with authority on your behalf, including the Authorised Persons, behalf which we or any member of the ADSS Group may incur in connection with: (a) the provision of Services services or products to you in connection with the Account Agreementthese Terms; (b) any of your Accounts or any TransactionTransaction including any act or omission by any person having access to your Account, by using your designated Account number and/or password, whether or not you authorised such access; (c) as a result of any misrepresentation by you or any violation by you or failure by you to perform any of your obligations under the Account Agreement these Terms (including any Transaction); (d) your use of programmable trading systems, whether built by you or by any third party and executed on or using the System; (e) any Losses incurred by your customers where you have used the System for a commercial purpose and/or entered Orders or Transactions for the account of your customers; or (df) as the result of the enforcement of our rights under the Account Agreement these Terms or any Applicable Law, except that this clause 33.3 shall not apply where a court, having proper jurisdiction to decide on the matter, has determined (in a final and non-appealable judgment) that the Losses in question have resulted primarily from the gross negligence, willful misconduct or fraud of an Indemnified Person. 33.4. Except in each case We will not be liable for any Losses resulting from any failure to perform our obligations hereunder to the extent where any that such Losses arise as failure to perform was, directly or indirectly, caused by a result of our gross negligence, wilful misconduct or fraud. 23.4Force Majeure Event. We will not be obliged to take or refrain from taking any action which becomes beyond our reasonable power to take or refrain from taking wholly or partly as a result of an event or state of affairs which was beyond our reasonable control to prevent and the effect of which is beyond our reasonable power to avoid, including, without limitation: any change in the law, any Applicable Law, failure of any exchange or clearing house or settlement system, war, terrorism, civil unrest, any breakdown or failure of transmission or communication or computer facilities, postal or other strikes or similar industrial action in each case whether actual, threatened or anticipated. 23.5a Force Majeure Event. We will not be liable to you, you or your directors, officers, officers or employees for any partial or total non- non-performance of our obligations or delay in performance by reason of a Force Majeure Event. 33.5. We shall not be liable to you for any cause beyond our reasonable control includingLosses resulting from a Manifest Error or any action which we take or refrain from taking in relation to a Transaction notwithstanding any Manifest Error, without limitation, (i) any failure or delay by any exchange, market, or clearing house, or broker or dealer, in performing its obligations (including with respect except to the delivery extent caused by our own fraud, willful default or re-delivery gross negligence. 33.6. Nothing in these Terms will limit our liability for death or personal injury resulting from our negligence. 33.7. Each other member of assetsthe ADSS Group shall be entitled to the benefit of the exclusions of liability and the rights of indemnity conferred on us under these Terms (whether under this clause 33.7 or elsewhere) with respect to any Transactions executed and/or cleared for the Account, or as if this clause (ii) the imposition, introduction, amendment or change (including a change in interpretation) of any legislation, regulation, directive or policy by any governmental or supranational body, exchange, regulatory or self-regulatory organisation, market clearing house or any failure or delay by any other relevant provision of these Terms) included a reference to each such member of the foregoing ADSS Group. The consent of other members of the ADSS Group is not required for any variation or rescission of the Terms agreed to by you and us or for any termination of these Terms in enforcing such legislation, regulation or policyaccordance with the provisions herein.

Exclusions, Limitations of Liability and Indemnity. 23.133.1. Nothing The exclusions and limitations of liability as set out in the Account Agreement this clause 33 shall exclude or restrict any duty or liability owed by apply between you and us to you under the fullest extent permitted by Applicable Law. Apart from the foregoingSubject to clause 33.2, neither we, nor any member of the ADSS Group or any third party shall will be liable to you for any Losses whether arising out of our gross negligence, fraud breach of contract, misrepresentation or wilful misconductotherwise, incurred or suffered by you or your directors, officers, officers or employees in connection with your trading activities under the Account Agreement these Terms (including any Transaction or where we have declined to enter into a proposed Transaction) unless such Losses arise Loss arises directly from our gross negligence, fraud willful default or wilful misconductfraud. 23.233.2. Without limitation, we will not be responsible or liable: (a) for For the performance or profitability of your Account or any part thereof; (b) for For any Loss loss that you suffer in an event where any computer viruses, worms, software bombs, or similar items are introduced into your computer hardware or software via the System; (c) for For any actions we may take pursuant to our rights under the Account Agreement;these Terms; ADSS Terms of Business - 20190911 22 (d) for For any Losses of any kind Loss arising out of, of or in connection with, with the placement of Orders or the execution of Transactions; (e) for any act or omission of an intermediate broker or agent; (f) for For any adverse tax implications of any Transaction whatsoever; (gf) For Losses incurred by reason of any delay or change in market conditions before any particular Order is executed; (g) For Losses which are indirect, special, incidental, punitive, or consequential, such as loss of profits or revenues, loss of goodwill or reputation, lost data, loss of use of the System, business interruption costs or loss of business opportunity (unless we are prohibited by Applicable Law from excluding such liability); and (h) for For communication failures (including telecommunication network failures), distortions or delays whether in connection with the System, your Account or otherwise. 23.333.3. You agree to reimburse, indemnify on demand and hold us and any member of the ADSS Group (collectively, “Indemnified Persons”) harmless for any and all Losses arising out of any direct or indirect act or omission on your part, the part of any persons authorised by you from time to time or any persons who we reasonably believe to be acting with authority on your behalf, including the Authorised Persons, behalf which we or any member of the ADSS Group may incur in connection with: (a) the The provision of Services services or products to you in connection with the Account Agreementthese Terms; (b) any Any of your Accounts or any TransactionTransaction including any act or omission by any person having access to your Account, by using your designated Account number and/or password, whether or not you authorised such access; (c) as a result of any Any misrepresentation by you or any violation by you or failure by you to perform any of your obligations under the Account Agreement these Terms (including any Transaction); (d) Your use of programmable trading systems, whether built by you or by any third party and executed on or using the System; (e) Any Losses incurred by your customers where you have used the System for a commercial purpose and/or entered Orders or Transactions for the account of your customers; or (df) as As the result of the enforcement of our rights under the Account Agreement these Terms or any Applicable Law, except that this clause 33.3 shall not apply where a court, having proper jurisdiction to decide on the matter, has determined (in a final and non-appealable judgment) that the Losses in question have resulted primarily from the gross negligence, willful misconduct or fraud of an Indemnified Person. 33.4. Except in each case We will not be liable for any Losses resulting from any failure to perform our obligations hereunder to the extent where any that such Losses arise as failure to perform was, directly or indirectly, caused by a result of our gross negligence, wilful misconduct or fraud. 23.4Force Majeure Event. We will not be obliged to take or refrain from taking any action which becomes beyond our reasonable power to take or refrain from taking wholly or partly as a result of an event or state of affairs which was beyond our reasonable control to prevent and the effect of which is beyond our reasonable power to avoid, including, without limitation: any change in the law, any Applicable Law, failure of any exchange or clearing house or settlement system, war, terrorism, civil unrest, any breakdown or failure of transmission or communication or computer facilities, postal or other strikes or similar industrial action in each case whether actual, threatened or anticipated. 23.5a Force Majeure Event. We will not be liable to you, you or your directors, officers, officers or employees for any partial or total non- non-performance of our obligations or delay in performance by reason of a Force Majeure Event. 33.5. We shall not be liable to you for any cause beyond our reasonable control includingLosses resulting from a Manifest Error or any action which we take or refrain from taking in relation to a Transaction notwithstanding any Manifest Error, without limitation, (i) any failure or delay by any exchange, market, or clearing house, or broker or dealer, in performing its obligations (including with respect except to the delivery extent caused by our own fraud, willful default or re-delivery gross negligence. 33.6. Nothing in these Terms will limit our liability for death or personal injury resulting from our negligence. 33.7. Each other member of assetsthe ADSS Group shall be entitled to the benefit of the exclusions of liability and the rights of indemnity conferred on us under these Terms (whether under this clause 33.7 or elsewhere) with respect to any Transactions executed and/or cleared for the Account, or as if this clause (ii) the imposition, introduction, amendment or change (including a change in interpretation) of any legislation, regulation, directive or policy by any governmental or supranational body, exchange, regulatory or self-regulatory organisation, market clearing house or any failure or delay by any other relevant provision of these Terms) included a reference to each such member of the foregoing ADSS Group. The consent of other members of the ADSS Group is not required for any variation or rescission of the Terms agreed to by you and us or for any termination of these Terms in enforcing such legislation, regulation or policyaccordance with the provisions herein.

Exclusions, Limitations of Liability and Indemnity. 23.126.1. Nothing in the Account Agreement these Terms shall exclude or restrict any duty or liability owed by us to you under Applicable Law. Apart from the foregoing, neither we, nor any member of the ADSS Group or any third party shall be liable or any of their respective directors, advisors, officers, affiliates, agents or employees for any Losses whether arising out of our gross negligence, fraud breach of contract, misrepresentation or wilful misconductotherwise, incurred or suffered by you or you, your directors, officers, agents, affiliates, advisors or employees in connection with your trading activities under the Account Agreement these Terms (including any Transaction Investment or where we have declined to enter into make a proposed TransactionInvestment) unless such Losses arise loss arises directly from our gross negligence, wilful default or fraud or wilful misconductas determined by the final judgment of a court of competent jurisdiction. 23.226.2. Without limitation, we will not be responsible or liable: (a) a. for the performance or profitability of your Account or any part thereof; (b) b. for any loss to or depreciation in the value of any Investment; c. for any Loss resulting from the acts, omissions or insolvency of any issuer of an Investment or broker, trader, market maker or dealer, exchange or any depository, Custodian, Sub-Custodian, agent or nominee selected by us in good faith to effect any transaction in relation to the Investments or for the safe custody of any of the Investments; d. for any loss that you suffer in an event where any computer viruses, worms, software bombs, or similar items are introduced into your computer hardware or software via the System; (c) e. for any actions we may take pursuant to our rights under the Account Agreementthese Terms; (d) f. for any Losses losses or other costs or expenses of any kind arising out of, of or in connection with, with the placement of Investment Orders or the execution of TransactionsInvestments; (e) for any act or omission of an intermediate broker or agent; (f) g. for any adverse tax implications of any Transaction Investment whatsoever; (g) h. by reason of any delay or change in market conditions before any particular Investment Order is executed; andand/or (h) i. for communication failures (including telecommunication network failures), distortions or delays whether in connection with the System, your Account or otherwise. 23.326.3. You agree to reimburse, indemnify and hold us and any member of the ADSS Group harmless for any and all Losses arising out of any act or omission on your part, the part of any persons authorised by you from time to time or any persons who we reasonably believe to be acting with authority on your behalf, including the Authorised Persons, behalf which we or any member of the ADSS Group may incur in connection with: (a) the a. The provision of Services services or products to you in connection with the Account Agreementthese Terms; (b) b. any of your Accounts or any TransactionInvestment; (c) c. as a result of any misrepresentation by you or any violation by you of your obligations under the Account Agreement these Terms of Business (including any TransactionInvestment); or (d) d. as the result of the enforcement of our rights under the Account Agreement these Terms or any Applicable Law. Except in each case to the extent where any such Losses arise as a result of our gross negligence, wilful misconduct or fraudfraud as determined by the final judgment of a court of competent jurisdiction. 23.426.4. We will not be obliged to take or refrain from taking any action which becomes beyond our reasonable power to take or refrain from taking wholly or partly as a result of an event or state of affairs which was beyond our reasonable control to prevent and the effect of which is beyond our reasonable power to avoid, including, including without limitation: any change in the law, any Applicable Law, failure of any exchange or clearing house or settlement system, war, terrorism, civil unrest, any breakdown or failure of transmission or communication or computer facilities, postal or other strikes or similar industrial action in each case whether actual, threatened or anticipated. 23.526.5. Nothing in these Terms shall oblige us to act in contravention of applicable laws, regulations, directions of authorities or regulators, market customs or practices. You accept that we are entitled to act in accordance with applicable laws, regulations, directions, customs and practices, and shall not be liable to you for the consequences of so doing. Notwithstanding our general willingness to provide you with the Investment Services, we shall not be under any obligation to enter into any particular transaction, or to accept or act in accordance with any particular instruction. 26.6. We will not be liable to you, you or your directors, officers, or employees for any partial or total non- non-performance of our obligations or delay in performance by reason of any cause beyond our reasonable control including, without limitation, , (i) any failure or delay by any exchange, market, or clearing house, or broker or dealer, in performing its obligations (including with respect to the delivery or re-delivery redelivery of assetsAssets) with respect to any Transactions Investments executed and/or cleared for the Account, or (ii) the imposition, introduction, amendment or change (including a change in interpretation) of any legislation, regulation, directive or policy by any governmental or supranational body, exchange, regulatory or self-regulatory organisation, market clearing house or any failure or delay by any of the foregoing in enforcing such legislation, regulation or policy. 26.7. Nothing in these Terms will limit our liability for death or personal injury resulting from our negligence. 26.8. The benefit of the exclusions of liability and the rights of indemnity conferred on us under these Terms (whether under this Clause 26 or elsewhere) shall also apply severally to any member of the ADSS Group as if reference in this Clause or any other relevant provision of these Terms to us included reference to each such person.