Common use of Margin Trading Clause in Contracts

Margin Trading. When you purchase securities on margin, you are borrowing money from us and pledging all securities and other property in your Account as collateral for these loans. You agree to evaluate your own financial situation, resources, investment objectives, and other relevant circumstances to determine whether margin transactions are appropriate for you. We will not make this determination. Even if you determine that margin is appropriate for you, we will determine whether to make such loans to you. You also understand that trading securities on margin involves risks, including, but not limited to, the following: • You can lose more funds than you deposit in your margin Account; • We may force the sale of securities or other assets in your Account; • We may sell your securities or other assets without contacting you; • You are not entitled to choose which securities or other assets in your Account are liquidated or sold to meet a margin call; • We may increase our “house” maintenance margin requirements at any time, and we are not required to provide you advance written notice of the change; and • You are not entitled to an extension of time on a margin call. There are rules and regulations covering margin loans, including the initial and margin maintenance requirements for margin Accounts. We may impose more stringent margin requirements, which may change without notice to you. In the event you carry margin accounts with us, you agree that we may liquidate securities we deem necessary, in our sole discretion and without prior notice or demand, to maintain or protect, as required in certain circumstances, the required minimum equity in any margin accounts, including initial margin requirements as well as required margin maintenance requirements. We must receive good funds sufficient to fully cover purchases of securities before the close of business on settlement date. If sufficient funds are not in your Account on settlement date, your trade may be liquidated or offset at the option of and in the full discretion of us. We shall not incur any liability whatsoever to you for such action. All securities and other property in which you may have an interest held by us or carried for your Account, now and hereafter acquired, shall be subject to a general lien and a right of set-off for the discharge of your indebtedness and other obligations to us, and are to be held by us as security for payment of any liability or indebtedness of you to us in any of your Accounts with us. We shall have the right to transfer securities and other properties so held by us from or to any of your Accounts with us whenever in our judgment we consider such transfer necessary for its protection. In enforcing our lien, we shall have the discretion to determine which securities and property are to be sold and which contracts are to be closed. No provision of this Agreement concerning liens or security interests shall apply to any account to the extent such application would be in conflict with any provision of ERISA or the Internal Revenue Code relating to retirement accounts. In the event you become indebted to us in the course of operation of this Account, you agree to promptly and fully repay such indebtedness upon demand. You agree that if, after demand, you fail to promptly pay the indebtedness, we may close your Account and without further notice liquidate assets in your Account, or any assets or Accounts otherwise held by us, in an amount sufficient to pay your indebtedness, buy in (“cover”) short positions, cancel outstanding orders in whole or in part, and take any other appropriate or necessary action without incurring any liability whatsoever. You understand and acknowledge that we may assign any indebtedness owed by you to others. All costs of collection of any debit balance and any unpaid deficiency in your Account, including without limitation attorney’s fees incurred by us, shall be fully reimbursed by you to us To trade on margin, your Account must maintain at least $2,000 in minimum equity. You will meet the margin requirement in your margin Account before entering any order and will satisfy any additional terms we may require. We may apply all premiums received from options writing against your margin requirements. You have the obligation to monitor the balances in your margin Account to ensure that you maintain sufficient amounts to meet margin requirements at all times. We may decline to extend credit to you for any reason. There may be times when we have extended credit on certain securities, but due to market or other conditions, may require additional cash or securities from you. You will pay interest on any credit provided to you for the purpose of purchasing, carrying or trading in any security. The interest rate will be determined using a base rate, and your margin interest rate will vary based on the base rate and the margin balance in your margin Account during the interest period. The base rates, and any changes, will be posted our website. We reserve the right to change the base rate without prior notice to you. Interest will be calculated, for each day your Account carries a debit balance, by multiplying the applicable interest rate by your debit balance, with the result divided by 360. The sum of the daily interest charges is totaled at the end of each Account statement period and is posted to your Account on the last Business Day of the Account statement period. You will not earn interest on credit balances. We may pledge, repledge, hypothecate, or re- hypothecate, without notice to you, all securities and other property that you hold, carry, or maintain for any of your Accounts. We may do so without retaining in our possession or under our control for delivery the same amount of similar securities or other property. The value of the securities and other property that we may pledge, repledge, hypothecate, or re-hypothecate may be greater than the amount you owe, and any losses, gains, or compensation that result from these activities will not accrue to your Account. We are authorized to lend to ourselves or others any securities we hold in your Account and to carry all securities lent as general loans. In connection with such loans, we may receive compensation and retain certain benefits that you will not be entitled to, such as interest on collateral posted for such loans. In certain circumstances, such loans may limit your ability to exercise voting rights with respect to the securities lent. You understand that, in certain situations in which we have borrowed your securities, you may receive a “payment in lieu” of the dividend issued.

Margin Trading. When you purchase securities on margin, you are borrowing money from us and pledging all securities and other property in your Account as collateral for these loans. You agree to evaluate your own financial situation, resources, investment objectives, and other relevant circumstances to determine whether margin transactions are appropriate for you. We will not make this determination. Even if you determine that margin is appropriate for you, we will determine whether to make such loans to you. You also understand that trading securities on margin involves risks, including, but not limited to, the following: • You can lose more funds than you deposit in your margin Account; • We may force the sale of securities or other assets in your Account; • We may sell your securities or other assets without contacting you; • You are not entitled to choose which securities or other assets in your Account are liquidated or sold to meet a margin call; • We may increase our “house” maintenance margin requirements at any time, and we are not required to provide you advance written notice of the change; and • You are not entitled to an extension of time on a margin call. There are rules and regulations covering margin loans, including the initial and margin maintenance requirements for margin Accounts. We may impose more stringent margin requirements, which may change without notice to you. In the event you carry margin accounts with us, you agree that we may liquidate securities we deem necessary, in our sole discretion and without prior notice or demand, to maintain or protect, as required in certain circumstances, the required minimum equity in any margin accounts, including initial margin requirements as well as required margin maintenance requirements. We must receive good funds sufficient to fully cover purchases of securities before the close of business on settlement date. If sufficient funds are not in your Account on settlement date, your trade may be liquidated or offset at the option of and in the full discretion of us. We shall not incur any liability whatsoever to you for such action. All securities and other property in which you may have an interest held by us or carried for your Account, now and hereafter acquired, shall be subject to a general lien and a right of set-off for the discharge of your indebtedness and other obligations to us, and are to be held by us as security for payment of any liability or indebtedness of you to us in any of your Accounts with us. We shall have the right to transfer securities and other properties so held by us from or to any of your Accounts with us whenever in our judgment we consider such transfer necessary for its protection. In enforcing our lien, we shall have the discretion to determine which securities and property are to be sold and which contracts are to be closed. No provision of this Agreement concerning liens or security interests shall apply to any account to the extent such application would be in conflict with any provision of ERISA or the Internal Revenue Code relating to retirement accounts. In the event you become indebted to us in the course of operation of this Account, you agree to promptly and fully repay such indebtedness upon demand. You agree that if, after demand, you fail to promptly pay the indebtedness, we may close your Account and without further notice liquidate assets in your Account, or any assets or Accounts otherwise held by us, in an amount sufficient to pay your indebtedness, buy in (“cover”) short positions, cancel outstanding orders in whole or in part, and take any other appropriate or necessary action without incurring any liability whatsoever. You understand and acknowledge that we may assign any indebtedness owed by you to others. All costs of collection of any debit balance and any unpaid deficiency in your Account, including without limitation attorney’s fees incurred by us, shall be fully reimbursed by you to us us. To trade on margin, your Account must maintain at least $2,000 in minimum equity. You will meet the margin requirement in your margin Account before entering any order and will satisfy any additional terms we may require. We may apply all premiums received from options writing against your margin requirements. You have the obligation to monitor the balances in your margin Account to ensure that you maintain sufficient amounts to meet margin requirements at all times. We may decline to extend credit to you for any reason. There may be times when we have extended credit on certain securities, but due to market or other conditions, may require additional cash or securities from you. You will pay interest on any credit provided to you for the purpose of purchasing, carrying or trading in any security. The interest rate will be determined using a base rate, and your margin interest rate will vary based on the base rate and the margin balance in your margin Account during the interest period. The base rates, and any changes, will be posted our website. We reserve the right to change the base rate without prior notice to you. Interest will be calculated, for each day your Account carries a debit balance, by multiplying the applicable interest rate by your debit balance, with the result divided by 360. The sum of the daily interest charges is totaled at the end of each Account statement period and is posted to your Account on the last Business Day of the Account statement period. You will not earn interest on credit balances. We may pledge, repledge, hypothecate, or re- hypothecate, without notice to you, all securities and other property that you hold, carry, or maintain for any of your Accounts. We may do so without retaining in our possession or under our control for delivery the same amount of similar securities or other property. The value of the securities and other property that we may pledge, repledge, hypothecate, or re-hypothecate may be greater than the amount you owe, and any losses, gains, or compensation that result from these activities will not accrue to your Account. We are authorized to lend to ourselves or others any securities we hold in your Account and to carry all securities lent as general loans. In connection with such loans, we may receive compensation and retain certain benefits that you will not be entitled to, such as interest on collateral posted for such loans. In certain circumstances, such loans may limit your ability to exercise voting rights with respect to the securities lent. You understand that, in certain situations in which we have borrowed your securities, you may receive a “payment in lieu” of the dividend issued, which may impose certain tax consequences on you.

Margin Trading. When you purchase securities on margin, you are borrowing money from us and pledging all securities and other property in your Account as collateral for these loans. You agree to evaluate your own financial situation, resources, investment objectives, and other relevant circumstances to determine whether margin transactions are appropriate for you. We will not make this determination. Even if you determine that margin is appropriate for you, we will determine whether to make such loans to you. You also understand that trading securities on margin involves risks, including, but not limited to, the following: • You can lose more funds than you deposit in your margin Account; • We may force the sale of securities or other assets in your Account; • We may sell your securities or other assets without contacting you; • You are not entitled to choose which securities or other assets in your Account are liquidated or sold to meet a margin call; • We may increase our “house” maintenance margin requirements at any time, and we are not required to provide you advance written notice of the change; and • You are not entitled to an extension of time on a margin call. There are rules and regulations covering margin loans, including the initial and margin maintenance requirements for margin Accounts. We may impose more stringent margin requirements, which may change without notice to you. In the event you carry margin accounts with us, you agree that we may liquidate securities we deem necessary, in our sole discretion and without prior notice or demand, to maintain or protect, as required in certain circumstances, the required minimum equity in any margin accounts, including initial margin requirements as well as required margin maintenance requirements. We must receive good funds sufficient to fully cover purchases of securities before the close of business on settlement date. If sufficient funds are not in your Account on settlement date, your trade may be liquidated or offset at the option of and in the full discretion of us. We shall not incur any liability whatsoever to you for such action. All securities and other property in which you may have an interest held by us or carried for your Account, now and hereafter acquired, shall be subject to a general lien and a right of set-off for the discharge of your indebtedness and other obligations to us, and are to be held by us as security for payment of any liability or indebtedness of you to us in any of your Accounts with us. We shall have the right to transfer securities and other properties so held by us from or to any of your Accounts with us whenever in our judgment we consider such transfer necessary for its protection. In enforcing our lien, we shall have the discretion to determine which securities and property are to be sold and which contracts are to be closed. No provision of this Agreement concerning liens or security interests shall apply to any account to the extent such application would be in conflict with any provision of ERISA or the Internal Revenue Code relating to retirement accounts. In the event you become indebted to us in the course of operation of this Account, you agree to promptly and fully repay such indebtedness upon demand. You agree that if, after demand, you fail to promptly pay the indebtedness, we may close your Account and without further notice liquidate assets in your Account, or any assets or Accounts otherwise held by us, in an amount sufficient to pay your indebtedness, buy in (“cover”) short positions, cancel outstanding orders in whole or in part, and take any other appropriate or necessary action without incurring any liability whatsoever. You understand and acknowledge that we may assign any indebtedness owed by you to others. All costs of collection of any debit balance and any unpaid deficiency in your Account, including without limitation attorney’s fees incurred by us, shall be fully reimbursed by you to us us. To trade on margin, your Account must maintain at least $2,000 in minimum equity. You will meet the margin requirement in your margin Account before entering any order and will satisfy any additional terms we may require. We may apply all premiums received from options writing against your margin requirements. You have the obligation to monitor the balances in your margin Account to ensure that you maintain sufficient amounts to meet margin requirements at all times. We may decline to extend credit to you for any reason. There may be times when we have extended credit on certain securities, but due to market or other conditions, may require additional cash or securities from you. You will pay interest on any credit provided to you for the purpose of purchasing, carrying or trading in any security. The interest rate will be determined using a base rate, and your margin interest rate will vary based on the base rate and the margin balance in your margin Account during the interest period. The base rates, and any changes, will be posted our website. We reserve the right to change the base rate without prior notice to you. Interest will be calculated, for each day your Account carries a debit balance, by multiplying the applicable interest rate by your debit balance, with the result divided by 360. The sum of the daily interest charges is totaled at the end of each Account statement period and is posted to your Account on the last Business Day of the Account statement period. You will not earn interest on credit balances. We may pledge, repledge, hypothecate, or re- hypothecate, without notice to you, all securities and other property that you hold, carry, or maintain for any of your Accounts. We may do so without retaining in our possession or under our control for delivery the same amount of similar securities or other property. The value of the securities and other property that we may pledge, repledge, hypothecate, or re-hypothecate may be greater than the amount you owe, and any losses, gains, or compensation that result from these activities will not accrue to your Account. We are authorized to lend to ourselves or others any securities we hold in your Account and to carry all securities lent as general loans. In connection with such loans, we may receive compensation and retain certain benefits that you will not be entitled to, such as interest on collateral posted for such loans. In certain circumstances, such loans may limit your ability to exercise voting rights with respect to the securities lent. You understand that, in certain situations in which we have borrowed your securities, you may receive a “payment in lieu” of the dividend issued.

Margin Trading. When you purchase securities on margin, you are borrowing money from us and pledging all securities and other property in your Account as collateral for these loans. You agree to evaluate your own financial situation, resources, investment objectives, and other relevant circumstances to determine whether margin transactions are appropriate for you. We will not make this determination. Even if you determine that margin is appropriate for you, we will determine whether to make such loans to you. You also understand that trading securities on margin involves risks, including, but not limited to, the following: • You can lose more funds than you deposit in your margin Account; • We may force the sale of securities or other assets in your Account; • We may sell your securities or other assets without contacting you; • You are not entitled to choose which securities or other assets in your Account are liquidated or sold to meet a margin call; • We may increase our “house” maintenance margin requirements at any time, and we are not required to provide you advance written notice of the change; and • You are not entitled to an extension of time on a margin call. There are rules and regulations covering margin loans, including the initial and margin maintenance requirements for margin Accounts. We may impose more stringent margin requirements, which may change without notice to Form - July 2023 ACCOUNT AGREEMENT | Page 12 of 20 you. In the event you carry margin accounts with us, you agree that we may liquidate securities we deem necessary, in our sole discretion and without prior notice or demand, to maintain or protect, as required in certain circumstances, the required minimum equity in any margin accounts, including initial margin requirements as well as required margin maintenance requirements. We must receive good funds sufficient to fully cover purchases of securities before the close of business on settlement date. If sufficient funds are not in your Account on settlement date, your trade may be liquidated or offset at the option of and in the full discretion of us. We shall not incur any liability whatsoever to you for such action. All securities and other property in which you may have an interest held by us or carried for your Account, now and hereafter acquired, shall be subject to a general lien and a right of set-off for the discharge of your indebtedness and other obligations to us, and are to be held by us as security for payment of any liability or indebtedness of you to us in any of your Accounts with us. We shall have the right to transfer securities and other properties so held by us from or to any of your Accounts with us whenever in our judgment we consider such transfer necessary for its protection. In enforcing our lien, we shall have the discretion to determine which securities and property are to be sold and which contracts are to be closed. No provision of this Agreement concerning liens or security interests shall apply to any account to the extent such application would be in conflict with any provision of ERISA or the Internal Revenue Code relating to retirement accounts. In the event you become indebted to us in the course of operation of this Account, you agree to promptly and fully repay such indebtedness upon demand. You agree that if, after demand, you fail to promptly pay the indebtedness, we may close your Account and without further notice liquidate assets in your Account, or any assets or Accounts otherwise held by us, in an amount sufficient to pay your indebtedness, buy in (“cover”) short positions, cancel outstanding orders in whole or in part, and take any other appropriate or necessary action without incurring any liability whatsoever. You understand and acknowledge that we may assign any indebtedness owed by you to others. All costs of collection of any debit balance and any unpaid deficiency in your Account, including without limitation attorney’s fees incurred by us, shall be fully reimbursed by you to us us. To trade on margin, your Account must maintain at least $2,000 in minimum equity. You will meet the margin requirement in your margin Account before entering any order and will satisfy any additional terms we may require. We may apply all premiums received from options writing against your margin requirements. You have the obligation to monitor the balances in your margin Account to ensure that you maintain sufficient amounts to meet margin requirements at all times. We may decline to extend credit to you for any reason. There may be times when we have extended credit on certain securities, but due to market or other conditions, may require additional cash or securities from you. You will pay interest on any credit provided to you for the purpose of purchasing, carrying or trading in any security. The interest rate will be determined using a base rate, and your margin interest rate will vary based on the base rate and the margin balance in your margin Account during the interest period. The base rates, and any changes, will be posted our website. We reserve the right to change the base rate without prior notice to you. Interest will be calculated, for each day your Account carries a debit balance, by multiplying the applicable interest rate by your debit balance, with the result divided by 360. The sum of the daily interest charges is totaled at the end of each Account statement period and is posted to your Account on the last Business Day of the Account statement period. You will not earn interest on credit balances. We may pledge, repledge, hypothecate, or re- hypothecate, without notice to you, all securities and other property that you hold, carry, or maintain for any of your Accounts. We may do so without retaining in our possession or under our control for delivery the same amount of similar securities or other property. The value of the securities and other property that we may pledge, repledge, hypothecate, or re-hypothecate may be greater than the amount you owe, and any losses, gains, or compensation that result from these activities will not accrue to your Account. We are authorized to lend to ourselves or others any securities we hold in your Account and to carry all securities Form - July 2023 ACCOUNT AGREEMENT | Page 13 of 20 lent as general loans. In connection with such loans, we may receive compensation and retain certain benefits that you will not be entitled to, such as interest on collateral posted for such loans. In certain circumstances, such loans may limit your ability to exercise voting rights with respect to the securities lent. You understand that, in certain situations in which we have borrowed your securities, you may receive a “payment in lieu” of the dividend issued.