PMB Securities Corp. Brokerage Services User Agreement

This user agreement, along with any other documents we give you pertaining to your account(s), is a contract that establishes rules which control your account(s) with us and your use of our brokerage services. Please read this agreement carefully. If you continue to have your account with us, you agree to these terms and conditions. If you have any questions, please contact us.

As used in this agreement, the words "we," "our" or "us," means PMB Securities Corp. (and its subsidiaries, parent, affiliates and agents) and the words "you" and "your" mean the account holder(s) and anyone else with the authority to exercise control over the account. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular.

We may revise this user agreement at any time, and you agree to be bound by future revisions and we may provide you an electronic notice of the amendment by e-mail. However, it is your responsibility to visit the "User Agreement Terms and Conditions" link at the bottom of our brokerage home page periodically to review the most current terms and conditions. If you have a brokerage account with us, your customer relationship is also governed by other agreements, including your customer agreement. We may also offer other services from time to time that are governed by different or additional terms and conditions. Your use of any of our services is subject to any disclosures or disclaimers found within the services.

Research Reports

Through our brokerage services and website, we may provide financial market information, which may include stock quotes, news, research and other information, which is collectively referred to in this agreement as "Information." We may also make available analyst research and opinions, which are referred to in this agreement as "Research Reports." Information and Research Reports may be prepared by independent information providers, who are not affiliated with us. We do not assess for you or any particular investor the suitability of any Information source or Research Report provider. Neither the Information nor the Research Reports constitute recommendations or solicitations by us, nor recommendations or solicitations that any particular investor should purchase or sell any particular security in any amount, or at all. We do not assess for you or any particular investor the potential value of any particular investment. Although we may provide information relating to investment approaches and opportunities to buy or sell securities, you should not construe any Information, Research Reports or other content available from us as legal, tax, accounting, investment, financial or other advice or recommendations.

We do not, nor does any Information or Research Report provider guarantee that the Information or Research Reports are accurate, timely or complete, or warrant that you will achieve any particular results from use of the Information or Research Reports. Information and Research Reports, as well as other materials available on our site, have been prepared as of the date or dates indicated and should only be considered current as of the date of initial publication, regardless of when you access the information. Because of subsequent market or economic circumstances, Information, Research Reports and other materials may become outdated or unreliable. We are not, nor is any Information or Research Report provider, under any obligation to update Information or opinions contained in any Research Report. We reserve the right to delete or modify information on our site without prior notice, or to discontinue the availability of Information or Research Reports regarding any company or security.

No Offer to Buy or Sell Securities

Nothing contained in our website constitutes a solicitation, recommendation, endorsement or offer by us or any third party to buy or sell any securities or other financial instruments. We will treat as unsolicited any security order you place, including any orders you place after accessing Information or Research Reports.

Disclosure of Potential Relationships

We and/or our employees, directors and consultants may have, or may have clients with, positions in securities referenced in Information or Research Reports, and may, as principal or agent, buy from or sell to customers. We may perform services for or solicit services from companies mentioned in Information or Research Reports. From time to time, we and/or a Research Report provider may be unable to provide Research Reports with respect to certain companies with which we or a Research Report provider or its affiliates have certain business relationships.

Transmission of Information

Neither we nor any party responsible for transmitting Information, Research Reports or other data shall be liable in any way, and you agree to indemnify and hold harmless us and such parties responsible for transmitting data for (1) any inaccuracy, error, delay in, or omission of any information or data, or the transmission of or failure to transmit information or data; (2) any loss or damage arising from or caused by any such inaccuracy, error, delay, omission, transmission or failure to transmit, (3) any loss or damage arising from or caused by nonperformance, (4) any loss or damage arising from or caused by interruption of information due to negligent acts or omission by us or third parties or any "force majeure" (such as flood, riot, strike, fire, earthquake, acts of God, war, insurrection, terrorism, accident, governmental acts or orders or restrictions, disrupted communications, power failure, or equipment or software malfunction) or any other cause beyond our reasonable control or the reasonable control of the relevant third parties. System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors.

Security of Data and Electronic Communications

Electronic communications through our services may not be encrypted, and you acknowledge that there is a risk that data and communications, such as email, electronic communications and personal information, might be accessed by unauthorized third parties when communicated between you and us or between you and other parties.

Links to Third Party Sites

Our website contains links to other websites on the Internet which are operated by third parties. We provide links to these third party websites only as a convenience, and the material available on these sites has been produced by independent parties who are unaffiliated with us. The fact that we provide a link to a site does not indicate an endorsement, authorization, affiliation or sponsorship of or with such site, the services offered on such site, its owners, or its providers. If you follow a link that we provide to a third party site, your access to and use of such site is at your own risk and you agree that under no circumstances will you hold us liable for any loss or damage caused by use of or reliance on any information or services available through such sites.

Investment Risk; Not FDIC Insured

The securities products and services we make available to you are not insured by the FDIC, are not guaranteed deposits or obligations, and are subject to investment risk, including possible loss of the entire amount you may invest. You are solely responsible for evaluating the merits and risks associated with the use of any our services and the suitability of any investment before making any decisions based on Information, Research Reports or any other content we may make available through our services.

U.S. Investors Only

We make our services and products described on this website available only to persons in the United States. Nothing on this website shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

Restrictions

In addition to other restrictions described in this agreement, by using our services, you agree to be bound by the following restrictions:

• You will not use our services for any commercial purpose unless expressly approved by us in writing.
• You will not collect or store personal data about other users.
• You will not use any electronic communication feature of our services for any purpose that is unlawful, abusive, intrusive on another's privacy, harassing, libelous, defamatory, obscene or threatening.
• You will not upload, reproduce or distribute any information or other material protected by copyright or any other intellectual property or privacy rights without first obtaining the permission of the owner of such rights.
• You will not upload, email or otherwise transmit any advertising or similar materials. This includes any form of solicitation or unauthorized communication, such as junk email, "spam," chain letters, or multi-level marketing offers.
• You will not upload, email or otherwise transmit any material that contains viruses or any other malicious computer code which might interrupt or interfere with the functionality of any computer or communications systems.
• You will not use any software, program, application or any other device (other than standard web browsing software used in its intended manner) to access or log on to our computer systems, website or proprietary software or to automate the process of obtaining, downloading, transferring or transmitting any Information or any other content to or from our computer systems, website or proprietary software.

We, or the relevant Information or Research Report providers or their licensers own the materials available through our services (which includes Information, Research Reports and other content, trademarks, services marks, trade names, logos, and icons), and these materials are protected by United States copyright laws and international treaty provisions. You agree not to copy, retransmit, disseminate, sell, license, distribute, publish, broadcast, circulate, or commercially exploit these materials in any manner without our express written consent and the consent of any applicable third parties. Nothing contained on our website or in this agreement should be construed as granting you or any other party, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on our website without our written permission or the permission of such third party that may own the trademarks. Your use of such trademarks, or any other content on our website, except as expressly provided herein, is prohibited.

Disclaimer of Warranties

IN NO EVENT WILL WE, INFORMATION OR RESEARCH REPORT PROVIDERS, OR OTHER PERSONS RESPONSIBLE FOR TRANSMITTING DATA BE LIABLE TO YOU OR ANYONE ELSE FOR ANY CONSEQUENTIAL, INCIDENTAL, EXEMPLARY, SPECIAL, PUNITIVE OR INDIRECT DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOST PROFITS, BUSINESS INTERRUPTION, TRADING LOSSES, LOSS OF INFORMATION, AND DAMAGES THAT MAY RESULT FROM THE USE OF THE INFORMATION, THE RESEARCH REPORTS OR OUR SERVICES (OR THE INABILITY TO USE ANY OF THE FOREGOING), OR FROM INCONVENIENCE, DELAY OR OMISSIONS OR INACCURACIES IN THE INFORMATION, THE RESEARCH REPORTS OR OUR SERVICES, EVEN IF THE APPLICABLE PARTY HAS BEEN ADVISED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES (WHETHER ARISING OUT OF A CLAIM IN CONTRACT, EQUITY, NEGLIGENCE, INTENDED CONDUCT, TORT, OR OTHERWISE (INCLUDING BREACH OF WARRANTY, NEGLIGENCE, AND STRICT LIABILITY IN TORT)). AS A CONDITION TO ACCESSING THE INFORMATION AND RESEARCH REPORTS AND USING OUR SERVICES, YOU EXPRESSLY WAIVE ANY CLAIM YOU MAY HAVE AGAINST US, ANY INFORMATION OR RESEARCH PROVIDER, OR ANY OTHER PERSON WITH RESPECT TO ANY INFORMATION, RESEARCH REPORT OR OUR SERVICES.

OUR SERVICES, THE INFORMATION AND THE RESEARCH REPORTS ARE PROVIDED "AS IS,", AND WE DISCLAIM ALL WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, ACCURACY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. Some jurisdictions may not allow the limitation or exclusion of liability or incidental or consequential damages, so the above limitations or exclusions may not apply to you.

Indemnification

You agree to indemnify and hold us harmless from any claim, demand, loss, costs or expense, including attorneys' fees, made by any person arising out of your violation of this agreement, state or federal securities laws or regulations, or any other person's rights, including but not limited to infringement of any copyright or violation of any proprietary or privacy right.

Term and Termination

We reserve the right to discontinue your access to all or any part of our services without notice for any reason, including, without limitation: (1) if you fail to comply with the terms of this agreement or other conditions of our services, (2) if you provide us with false information, (3) if there is unauthorized use of your brokerage account, or (4) if one or more agreements between us and any Information or Research Report providers terminates.

Governing Law and Severability

This Agreement will be governed by California law (excluding conflicts of law principals) and is subject to applicable federal laws (except to the extent that this agreement can and does vary such rules or laws). If any provision of this document is found to be unenforceable according to its terms, all remaining provisions will continue in full force and effect.

Arbitration

The following arbitration agreement should be read in conjunction with the following disclosures: (a) arbitration is final and binding on the parties; (b) the parties are waiving their right to seek remedies in court, including the right to jury trial; (c) pre-arbitration discovery is generally more limited than and different from court proceedings; (d) the arbitrators' award is not required to include factual findings or legal reasoning and such party's right to appeal or to seek modification of rulings by the arbitrators is strictly limited; and (e) the panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.

Arbitration agreement: any and all controversies, disputes or claims between the you and us, or any parties we engage to effect brokerage services on your behalf, and our agents, representatives, employees, directors, officers or control persons or those of such party engaged to perform brokerage services, arising out of, in connection with, from or with respect to (a) any provisions of or the validity of this agreement or any related agreements, (b) the relationship of the parties hereto, or (c) any controversy arising out of our business, the business of such party engaged to perform brokerage services, or your accounts, shall be conducted pursuant to the code of arbitration procedure of the National Association of Securities Dealers, Inc. Arbitration must be commenced by service of a written demand for arbitration or a written notice of intention to arbitrate. If you are a party to such arbitration, to the extent permitted by the rules of the applicable arbitration tribunal the decision and award of the arbitrator(s) shall be conclusive and binding upon all parties, and any judgment upon any award rendered may be entered in a court having jurisdiction thereof, and neither party shall oppose such entry. No person shall bring a punitive or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a punitive class action; or who is a member of a punitive class who has not opted out of the class with respect to any claims encompassed by the punitive class action until: (i) the class certification is denied; or (ii) the class is decertified; or (iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this agreement except to the extent stated herein. These arbitration and judicial reference provisions shall survive any termination, amendment or expiration of any of these agreements, unless otherwise expressly agreed in writing. THE PARTIES UNDERSTAND THAT THEY ARE WAIVING THEIR RIGHT TO A JURY TRIAL, OR A TRIAL BEFORE A JUDGE IN A PUBLIC COURT.

Electronic Messages and Electronic Agreements

Electronic messages from you to us, or from us to you, will be treated as written documents for any purpose where a written document is needed. However, we can require written confirmation of messages or instructions if we choose, and may delay any executing transactions till we receive confirmation acceptable to us. We might do this, for example, if we think it will help protect you or us from fraud or a loss, but we can do so in other circumstances.

You agree that if you assent or agree to any terms or conditions, or otherwise give us your consent through electronic means while using our services by computer or similar device (for example, by clicking on an "I agree" or other similarly worded "button" or entry field with your mouse, keystroke or other computer device), such assent or agreement shall be binding upon you as if signed with your handwritten signature.

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