Common use of Non-Transferable Securities Clause in Contracts

Non-Transferable Securities. In the event that any securities in your account become non-transferable, the Clearing Firm may remove them from your account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Please note the following: • There are no known markets for these securities. • We are unable to deliver certificates to you representing these positions. • These transactions will not appear on Form 1099 or any other tax reporting form. • The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • If transfer agent services become available sometime in the future, the Clearing Firm will use its best efforts to have the position reinstated in your account. • Positions removed from your account will appear on your next available account statement following such removal as an “Expired” transaction. By opening and maintaining an account with us, you consent to our actions as we have described them above, and you waive any claims against us arising out of such actions. You also understand that we do not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you agree to consult with your own tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration functions that we and the Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we will: • Open, approve, and monitor your brokerage account. • Transmit accurate, timely instructions to the Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine the suitability of any investment recommendations and advice made by a duly authorized representative. • Operate your brokerage account in compliance with applicable laws and regulations. • If you have a margin account, advise you of margin requirements and ensure that your account remains in compliance with all applicable federal, industry, and The Clearing Firm margin requirements. • maintain proper books and records of all services we perform for you At our direction, the Clearing Firm will: • Execute, clear, and settle transactions that we process through them. • Send you transaction confirmations and periodic brokerage account statements, if we don’t do this ourselves. • Act as custodian for all funds and securities they receive on your behalf. • Carry out our instructions regarding the transactions, and the receipt and delivery of securities, on your brokerage account. • Extend margin credit, if you have applied, and been approved, for margin borrowing. • Maintain proper books and records of all services they perform in connection with your account. Note that the Clearing Firm may not have verified certain pricing information that we or third parties provide to you. For more information on the allocation of services, you may speak with your Representative or contact us. When securities may be traded in more than one marketplace, the Clearing Firm may use its discretion in selecting the market in which to place your order. Brokerage orders (including those generated by reinvested dividends) are routed through the Clearing Firm, who in turn sends orders to various exchanges or market centers for execution. In deciding where to send an order, the Clearing Firm looks at a number of factors, such as size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing, and execution cost. Some market centers may execute orders at prices superior to the publicly quoted market. Although you can give instructions with a written order (though not an order placed through any telephone, electronic, or online trading system) that the order be sent to a particular marketplace, the Clearing Firm’s order-routing policies are designed to result in transaction processing that is favorable for you. Note that we and the Clearing Firm may receive monetary payments or other consideration (such as financial credits or reciprocal business) for directing equity trades to particular broker/dealers or market centers for execution.

Non-Transferable Securities. In the event that any securities in your account become non-transferable, the Clearing Firm may remove them from your account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Please note the following: • There are no known markets for these securities. • We are unable to deliver certificates to you representing these positions. • These transactions will not appear on Form 1099 or any other tax reporting form. • The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • If transfer agent services become available sometime in the future, the Clearing Firm will use its best efforts to have the position reinstated in your account. • Positions removed from your account will appear on your next available account statement following such removal as an “Expired” transaction. By opening and maintaining an account with us, you consent to our actions as we have described them above, and you waive any claims against us arising out of such actions. You also understand that we do not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you agree to consult with your own tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration administrative functions that we and the Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we will: • Openopen, approve, and monitor your brokerage account. • Transmit transmit accurate, timely instructions to the Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine determine the suitability of any investment recommendations and advice made by a duly authorized representative. • Operate operate your brokerage account in compliance with applicable laws and regulations. • If if you have a margin account, advise you of margin requirements and ensure that your account remains in compliance with all applicable federal, industry, and The the Clearing Firm margin requirements. • maintain proper books and records of all services we perform for you At our direction, the Clearing Firm will: • Execute, clear, and settle transactions that we process through them. • Send you transaction confirmations and periodic brokerage account statements, if we don’t do this ourselves. • Act as custodian for all funds and securities they receive on your behalf. • Carry out our instructions regarding the transactions, and the receipt and delivery of securities, on your brokerage account. • Extend margin credit, if you have applied, and been approved, for margin borrowing. • Maintain proper books and records of all services they perform in connection with your account. Note that the Clearing Firm may not have verified certain pricing information that we or third parties provide to you. For more information on the allocation of services, you may speak with your Representative or contact us. When securities may be traded in more than one marketplace, the Clearing Firm may use its discretion in selecting the market in which to place your order. Brokerage orders (including those generated by reinvested dividends) are routed through the Clearing Firm, who in turn sends orders to various exchanges or market centers for execution. In deciding where to send an order, the Clearing Firm looks at a number of factors, such as size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing, and execution cost. Some market centers may execute orders at prices superior to the publicly quoted market. Although you can give instructions with a written order (though not an order placed through any telephone, electronic, or online trading system) that the order be sent to a particular marketplace, the Clearing Firm’s order-routing policies are designed to result in transaction processing that is favorable for you. Note that we and the Clearing Firm may receive monetary payments or other consideration (such as financial credits or reciprocal business) for directing equity trades to particular broker/dealers or market centers for execution.

Non-Transferable Securities. In the event that any securities in your account become non-non- transferable, the Clearing Firm NFS may remove them from your account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Please note Note the following: • There are no known markets for these securities. • We are NFS is unable to deliver certificates to you representing these positions. • These transactions will not appear on Form 1099 or any other tax reporting form. • The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • If transfer agent services become available sometime in the future, the Clearing Firm NFS will use its best efforts to have the position reinstated in your account. • Positions removed from your account will appear on your next available account statement following such removal as an “Expired” transaction. By opening and maintaining an account with usNFS, you consent to our the actions as we have described them above, and you waive any claims against us your Broker/Dealer or NFS arising out of such actions. You also understand that we do your Broker/Dealer does not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you agree to consult with your own tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration functions that we and the Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we will: • Open, approve, and monitor your brokerage account. • Transmit accurate, timely instructions to the Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine the suitability of any investment recommendations and advice made by a duly authorized representative. • Operate your brokerage account in compliance with applicable laws and regulations. • If you have a margin account, advise you of margin requirements and ensure that your account remains in compliance with all applicable federal, industry, and The Clearing Firm margin requirements. • maintain proper books and records of all services we perform for you At our direction, the Clearing Firm will: • Execute, clear, and settle transactions that we process through them. • Send you transaction confirmations and periodic brokerage account statements, if we don’t do this ourselves. • Act as custodian for all funds and securities they receive on your behalf. • Carry out our instructions regarding the transactions, and the receipt and delivery of securities, on your brokerage account. • Extend margin credit, if you have applied, and been approved, for margin borrowing. • Maintain proper books and records of all services they perform in connection with your account. Note that the Clearing Firm may not have verified certain pricing information that we or third parties provide to you. For more information on the allocation of services, you may speak with your Representative or contact us. When securities may be traded in more than one marketplace, the Clearing Firm may use its discretion in selecting the market in which to place your order. Brokerage orders (including those generated by reinvested dividends) are routed through the Clearing FirmNFS, who in turn sends orders to various exchanges or market centers for execution. In deciding where to send an order, the Clearing Firm NFS looks at a number of factors, such as size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing, and execution cost. Some market centers may execute orders at prices superior to the publicly quoted market. Although you can give instructions with a written order (though not an order placed through any telephone, electronic, or online trading system) that the order be sent to a particular marketplace, the Clearing FirmNFS’s order-routing policies are designed to result in transaction processing that is favorable for you. Note that we and the Clearing Firm NFS may receive monetary payments or other consideration (such as financial credits or reciprocal business) for directing equity trades to particular broker/dealers or market centers for execution. For the name and address of any credit reporting agency from whom we or NFS has obtained information about you, send a written request to us or the card issuer, as applicable.

Non-Transferable Securities. In the event that any securities in your account become non-non- transferable, the Clearing Firm Pershing may remove them from your the account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Please note the following: •  There are no known markets for these securities. • We are securities  Pershing is unable to deliver certificates to you for me representing these positions. • positions  These transactions will not appear on Form 1099 or any other tax reporting form. • form  The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • contribution  If transfer agent services become available sometime in the future, the Clearing Firm Pershing will use its best efforts to have the position reinstated in your account. • my account  Positions removed from your my account will appear on your my next available account statement following such removal as an “Expired” transaction. transaction By opening and maintaining an account with usPershing, you consent to our the actions as we have described them above, above and you waive any claims against us PAS or Pershing arising out of such actions. You also understand that we do PAS does not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you account. You agree to consult with your own tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration functions that we and the Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we will: • Open, approve, and monitor your brokerage account. • Transmit accurate, timely instructions to the Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine the suitability of any investment recommendations and advice made by a duly authorized representative. • Operate your brokerage account in compliance with applicable laws and regulations. • If you have a margin account, advise you of margin requirements and ensure that your account remains in compliance with all applicable federal, industry, and The Clearing Firm margin requirements. • maintain proper books and records of all services we perform for you At our direction, the Clearing Firm will: • Execute, clear, and settle transactions that we process through them. • Send you transaction confirmations and periodic brokerage account statements, if we don’t do this ourselves. • Act as custodian for all funds and securities they receive on your behalf. • Carry out our instructions regarding the transactions, and the receipt and delivery of securities, on your brokerage account. • Extend margin credit, if you have applied, and been approved, for margin borrowing. • Maintain proper books and records of all services they perform in connection with your account. Note that the Clearing Firm may not have verified certain pricing information that we or third parties provide to you. For more information on the allocation of services, you may speak with your Representative or contact us. When securities may be traded in more than one marketplace, the Clearing Firm may use its discretion in selecting the market in which to place your order. Brokerage orders (including those generated by reinvested dividends) are routed through the Clearing FirmPershing, who in turn sends orders to various exchanges or market centers for execution. In deciding where to send an order, the Clearing Firm Pershing looks at a number of factors, such as size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing, and execution cost. Some market centers may execute orders at prices superior to the publicly quoted market. Although you can give instructions with a written order (though not an order placed through any telephone, electronic, or online trading system) that the order be sent to a particular marketplace, the Clearing FirmPershing’s order-order routing policies are designed to result in transaction processing that is favorable for to you. Note that we and the Clearing Firm Pershing may receive monetary payments or other consideration (such as financial credits or reciprocal business) for directing equity trades to particular broker/broker- dealers or market centers for execution. When securities may be traded in more than one marketplace, Pershing may use its discretion in selecting the market in which to place your order.

Non-Transferable Securities. In the event that any securities in your account Brokerage Account become non-transferable, the our Clearing Firm may is authorized to remove them from your account Brokerage Account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may can be due to a number of reasons, including that the issuer of such securities may is no longer be in business and may even be and/or is insolvent. Please note the following: • : (a) There are no known markets for these securities. • We are . (b) Our Clearing Firm is unable to deliver certificates to you representing these positions. • . (c) These transactions will not appear on Form 1099 or any other tax reporting form. • . (d) The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • . (e) If transfer agent services become available sometime in the future, the our Clearing Firm will use its best efforts to have the position reinstated in your account. • . (f) Positions removed from your account will appear on your next available account Brokerage Account statement following such removal as an “Expired” transaction. By opening and maintaining an account with usTIS and our Clearing Firm, you consent to our the actions as we have described them above, and you waive any claims against us TIS or our Clearing Firm arising out of such actions. You also understand that we do TIS does not provide tax advice concerning your account or any securities that may be are the subject of removal from or reinstatement into your account and you agree to consult with your own tax advisor concerning any tax implications that may shall arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration functions that we and the Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we will: • Open, approve, and monitor your brokerage account. • Transmit accurate, timely instructions to the Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine the suitability of any investment recommendations and advice made by a duly authorized representative. • Operate your brokerage account in compliance with applicable laws and regulations. • If you have a margin account, advise you of margin requirements and ensure that your account remains in compliance with all applicable federal, industry, and The Clearing Firm margin requirements. • maintain proper books and records of all services we perform for you At our direction, the Clearing Firm will: • Execute, clear, and settle transactions that we process through them. • Send you transaction confirmations and periodic brokerage account statements, if we don’t do this ourselves. • Act as custodian for all funds and securities they receive on your behalf. • Carry out our instructions regarding the transactions, and the receipt and delivery of securities, on your brokerage account. • Extend margin credit, if you have applied, and been approved, for margin borrowing. • Maintain proper books and records of all services they perform in connection with your account. Note that the Clearing Firm may not have verified certain pricing information that we or third parties provide to you. For more information on the allocation of services, you may speak with your Representative or contact us. When securities may be traded in more than one marketplace, the Clearing Firm may use its discretion in selecting the market in which to place your order. Brokerage orders (including those generated by reinvested dividends) are routed through the Clearing Firm, who in turn sends orders to various exchanges or market centers for execution. In deciding where to send an order, the Clearing Firm looks at a number of factors, such as size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing, and execution cost. Some market centers may execute orders at prices superior to the publicly quoted market. Although you can give instructions with a written order (though not an order placed through any telephone, electronic, or online trading system) that the order be sent to a particular marketplace, the Clearing Firm’s order-routing policies are designed to result in transaction processing that is favorable for you. Note that we and the Clearing Firm may receive monetary payments or other consideration (such as financial credits or reciprocal business) for directing equity trades to particular broker/dealers or market centers for execution.

Non-Transferable Securities. In the event that any securities in your account become non-transferable, the Clearing Firm may remove them from your account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Please note the following: • There are no known markets for these securities. • We are unable to deliver certificates to you representing these positions. • These transactions will not appear on Form 1099 or any other tax reporting form. • The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • If transfer agent services become available sometime in the future, the Clearing Firm will use its best efforts to have the position reinstated in your account. • Positions removed from your account will appear on your next available account statement following such removal as an “Expired” transaction. By opening and maintaining an account with us, you consent to our actions as we have described them above, and you waive any claims against us arising out of such actions. You also understand that we do not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you agree to consult with your own tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration administrative functions that we and the The Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we will: • Openopen, approve, and monitor your brokerage account. • Transmit transmit accurate, timely instructions to the The Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine determine the suitability of any investment recommendations and advice made by a duly authorized representative. • Operate operate your brokerage account in compliance with applicable laws and regulations. • If if you have a margin account, advise you of margin requirements and ensure that your account remains in compliance with all applicable federal, industry, and The Clearing Firm margin requirements. • maintain proper books and records of all services we perform for you At our direction, the The Clearing Firm will: • Execute, clear, and settle transactions that we process through them. • Send you transaction confirmations and periodic brokerage account statements, if we don’t do this ourselves. • Act as custodian for all funds and securities they receive on your behalf. • Carry out our instructions regarding the transactions, and the receipt and delivery of securities, on your brokerage account. • Extend margin credit, if you have applied, and been approved, for margin borrowing. • Maintain proper books and records of all services they perform in connection with your account. Note that the The Clearing Firm may not have verified certain pricing information that we or third parties provide to you. For more information on the allocation of services, you may speak with your Representative or contact us. When securities may be traded in more than one marketplace, the Clearing Firm may use its discretion in selecting the market in which to place your order. Brokerage orders (including those generated by reinvested dividends) are routed through the The Clearing Firm, who in turn sends orders to various exchanges or market centers for execution. In deciding where to send an order, the The Clearing Firm looks at a number of factors, such as size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing, and execution cost. Some market centers may execute orders at prices superior to the publicly quoted market. Although you can give instructions with a written order (though not an order placed through any telephone, electronic, or online trading system) that the order be sent to a particular marketplace, the The Clearing Firm’s order-routing policies are designed to result in transaction processing that is favorable for you. Note that we and the The Clearing Firm may receive monetary payments or other consideration (such as financial credits or reciprocal business) for directing equity trades to particular broker/dealers or market centers for execution.

Non-Transferable Securities. In the event that any securities in your account become non-transferable, the Clearing Firm may remove them from your account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Please note the following: • There are no known markets for these securities. • We are unable to deliver certificates to you representing these positions. • These transactions will not appear on Form 1099 or any other tax reporting form. • The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • If transfer agent services become available sometime in the future, the Clearing Firm will use its best efforts to have the position reinstated in your account. • Positions removed from your account will appear on your next available account statement following such removal as an “Expired” transaction. By opening and maintaining an account with us, you consent to our actions as we have described them above, and you waive any claims against us arising out of such actions. You also understand that we do not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you agree to consult with your own tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration administrative functions that we and the Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we willare responsible for: • OpenOpening, approve, approving and monitor monitoring[1] your brokerage account. • Transmit Transmitting accurate, timely instructions to the Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine determining the suitability of any investment recommendations and advice made by a duly authorized representativeFinancial Professional. • Operate operating your brokerage account in compliance with applicable laws and regulations. • If if you have a margin account, advise advising you of margin requirements and ensure ensuring that your account remains in compliance with all applicable federal, industry, and The the Clearing Firm margin requirements. • maintain maintaining proper books and records of all services we perform for you [1] Note from your broker/dealer: This does not create an implied agreement to continuously monitor your account, but rather, your Financial Professional may, from time to time, voluntarily review the holdings in your account for the purpose of determining whether to provide a recommendation. At our direction, the Clearing Firm will: • Execute, clear, and settle transactions that we process through them. • Send you transaction confirmations and periodic brokerage account statements, if we don’t do this ourselves. • Act as custodian for all funds and securities they receive on your behalf. • Carry out our instructions regarding the transactions, and the receipt and delivery of securities, on your brokerage account. • Extend margin credit, if you have applied, and been approved, for margin borrowing. • Maintain proper books and records of all services they perform in connection with your account. Note that the Clearing Firm may not have verified certain pricing information that we or third parties provide to you. For more information on the allocation of services, you may speak with your Representative Financial Professional or contact us. When securities may be traded in more than one marketplace, the Clearing Firm may use its discretion in selecting the market in which to place your order. Brokerage orders (including those generated by reinvested dividends) are routed through the Clearing Firm, who in turn sends orders to various exchanges or market centers for execution. In deciding where to send an order, the Clearing Firm looks at a number of factors, such as size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing, and execution cost. Some market centers may execute orders at prices superior to the publicly quoted market. Although you can give instructions with a written order (though not an order placed through any telephone, electronic, or online trading system) that the order be sent to a particular marketplace, the Clearing Firm’s order-routing policies are designed to result in transaction processing that is favorable for you. Note that we and the Clearing Firm may receive monetary payments or other consideration (such as financial credits or reciprocal business) for directing equity trades to particular broker/dealers or market centers for execution.

Non-Transferable Securities. In the event that any securities in your account become non-transferable, the Clearing Firm may remove them from your account without further notice. Non-transferable securities are those where transfer agent services have not been available for six or more years. A lack of transfer agent services may be due to a number of reasons, including that the issuer of such securities may no longer be in business and may even be insolvent. Please note the following: • There are no known markets for these securities. • We are unable to deliver certificates to you representing these positions. • These transactions will not appear on Form 1099 or any other tax reporting form. • The removal of the position will not be reported as a taxable distribution and any reinstatement of the position will not be reported as a contribution. • If transfer agent services become available sometime in the future, the Clearing Firm will use its best efforts to have the position reinstated in your account. • Positions removed from your account will appear on your next available account statement following such removal as an “Expired” transaction. By opening and maintaining an account with us, you consent to our actions as we have described them above, and you waive any claims against us arising out of such actions. You also understand that we do not provide tax advice concerning your account or any securities that may be the subject of removal from or reinstatement into your account and you agree to consult with your own tax advisor concerning any tax implications that may arise as a result of any of these circumstances. Financial Industry Regulatory Authority (FINRA) Rule 4311 requires that we identify the various account administration administrative functions that we and the Clearing Firm each agree to perform. Below is a summary of this information; for a more complete description, contact us. As your broker/dealer, we will: • Openopen, approve, and monitor your brokerage account. • Transmit transmit accurate, timely instructions to the Clearing Firm regarding your brokerage account. We reserve the right to refuse any orders and you will not hold us liable for any loss you incur due to our refusal to permit any transactions. • Determine determine the suitability of any investment recommendations and advice made by a duly authorized representative. • Operate operate your brokerage account in compliance with applicable laws and regulations. • If if you have a margin account, advise you of margin requirements and ensure that your account remains in compliance with all applicable federal, industry, and The the Clearing Firm margin requirements. • maintain proper books and records of all services we perform for you you. At our direction, the The Clearing Firm will: • Execute, clear, and settle transactions that we process through them. • Send you transaction confirmations and periodic brokerage account statements, if we don’t do not do this ourselves. • Act as custodian for all funds and securities they receive on your behalf. • Carry out our instructions regarding the transactions, and the receipt and delivery of securities, on your brokerage account. account • Extend margin credit, if you have applied, and been approved, for margin borrowing. • Maintain proper books and records of all services they perform in connection with your account. Note that the Clearing Firm may not have verified certain pricing information that we or third parties provide to you. For more information on the allocation of services, you may speak with your Representative or contact us. When securities may be traded in more than one marketplace, the Clearing Firm may use its discretion in selecting the market in which to place your order. Brokerage orders (including those generated by reinvested dividends) are routed through the Clearing Firm, who in turn sends orders to various exchanges or market centers for execution. In deciding where to send an order, the Clearing Firm looks at a number of factors, such as size of order, trading characteristics of the security, favorable execution prices (including the opportunity for price improvement), access to reliable market data, availability of efficient automated transaction processing, and execution cost. Some market centers may execute orders at prices superior to the publicly quoted market. Although you can give instructions with a written order (though not an order placed through any telephone, electronic, or online trading system) that the order be sent to a particular marketplace, the The Clearing Firm’s order-routing policies are designed to result in transaction processing that is favorable for you. Note that we and the Clearing Firm may receive monetary payments or other consideration (such as financial credits or reciprocal business) for directing equity trades to particular broker/dealers or market centers for execution. Xxxxxx Investment Services, LLC has developed a Business Continuity Plan on how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our business continuity plan. Contacting Us – If after a significant business disruption you cannot contact us as you usually do at 000-000-0000, you should call our alternative number 000-000-0000, or email us at xxxxxxxxxxx@xxxxxxx.xxx. If you cannot access us through either of those means, you should contact our clearing firm, Pershing, LLC, at 000-000-0000, or online at xxx.xxxxxxxx.xxx for instructions on how it may process cash disbursement, security transfers, and trade-related transactions. Customers who maintain an account directly with a mutual fund or annuity company can access their funds directly by using the contact information provided on their account statement(s). Our Business Continuity Plan – We plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making a financial and operational assessment protecting the firm’s books and records, and allowing our customers to transact business. In short, our business continuity plan is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption. Our business continuity plan addresses: data backup and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our customers prompt access to their funds and securities if we are unable to continue our business. Our clearing firm, Pershing, LLC backs up our important records in a geographically separate area. While every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, we have been advised by our clearing firm that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments within four (4) hours. Your orders and requests for funds and securities could be delayed during this period. Varying Disruptions – Significant business disruptions can vary in their scope, such as only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or the whole region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resu me business within four (4) hours. In a disruption affecting our business district, city, or region, we will transfer our operat ions to a site outside of the affected area and recover and resume business within 48 hours. In either situation, we plan to continue in business, transfer operations to our clearing firm if necessary, and notify you through our web site, xxx.xxxxxxxxxx.xxx or our customer emergency number, 000-000-0000 regarding how to contact us. If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our customer’s prompt access to their funds and securities. Although all entities that provide services to your account strive to ensure the quality and reliability of those services, neither we nor the Clearing Firm can be responsible for the availability, accuracy, timeliness, completeness, or security of any service related to your account. These services are provided “as is” and “as available.” You therefore agree that we and the Clearing Firm are not responsible to you for any losses (meaning claims, damages, actions, demands, investment losses, direct or indirect, incidental, special, punitive, consequential, or other losses, as well as any costs, charges, attorneys’ fees, or other fees and expenses) that you incur as a result of conditions beyond our control or any agreement between the Parties. This includes, for example: • Any action that is done in accordance with the procedures described in this Agreement or an applicable mutual fund or securities prospectus or other investment description. • The acceptance and processing of any order or transaction placed in your account, whether received electronically or through other means, as long as the order appears to be authentic. • Investment decisions or instructions placed in your account or other such actions attributable to you or any authorized person including your Representative. • Occurrences related to governments or markets, such as rules and regulations, restrictions, suspensions of trading, bank closures or bank regulatory, legal or other limitations or restrictions or high market volatility or trading volumes. • Uncontrollable circumstances in the world at large, such as wars, terrorist activities, earthquakes, power outages, or unusual weather conditions. • Occurrences related to computers and communications, such as a network or systems failure, a message interception, or an instance of unauthorized access or breach of security over which we have no control or reasonable ability to know it has occurred (such as theft of your personal information by a third party, spyware or malware on your computer) or other actions or inactions by you resulting in unauthorized activities in your account.