Easy Application Form

Transcription

1 Member FINRA/SIPC Easy Application Form JOINT ACCOUNT APPLICATION WROS ACCOUNT TYPE Cash Margin & Short Option (Please complete options application on page 3) FUNDING YOUR ACCOUNT Make check payable to: Firstrade Securities Inc. Enclosed is my check for: $ PRIMARY ACCOUNT HOLDER Full Legal Name SSN Address Date of Birth Home Address (No P.O. Box) City State ZIP Mailing Address (No P.O. Box) City State ZIP Years of Residence Home Phone Business Phone Mobile Phone U.S. Citizen: Yes No if No, please enter country of citizenship Permanent Resident Resident Alien Non-Resident Alien EMPLOYER INFORMATION Employer Occupation Employer s Address City State ZIP Years at Employer Type of Business Position/Title Job Function/Description JOINT ACCOUNT HOLDER Full Legal Name SSN Address Date of Birth Home Address (No P.O. Box) City State ZIP Mailing Address (No P.O. Box) City State ZIP Years of Residence Home Phone Business Phone Mobile Phone U.S. Citizen: Yes No if No, please enter country of citizenship Relationship to Primary Account Holder : Permanent Resident Resident Alien Non-Resident Alien EMPLOYER INFORMATION Employer Occupation Employer s Address City State ZIP Years at Employer Type of Business Position/Title Job Function/Description

2 Easy Application Form Member FINRA/SIPC INVESTMENT & FINANCIAL PROFILE AFFILIATIONS Investment Objectives Capital Preservation Income Growth Investment Experience Account Holder None Limited Good Extensive Co-Account Holder None Limited Good Extensive Speculation Other Account Holder Account Holder $20,001 to $25,000 (01) $100,001 to $200,000 (23) $500,001 to $1,200,000 (26) $25,001 to $50,000 (02) $200,001 to $300,000 (24) Over $1,200,000 (27) $20,001 to $25,000 (01) $100,001 to $200,000 (22) $1,000,001 to $5,000,000 (25) $25,001 to $50,000 (01) $200,001 to $500,000 (23) Over $5,000,000 (26) $20,001 to $25,000 (01) $100,001 to $200,000 (22) $1,000,001 to $5,000,000 (25) $25,001 to $50,000 (01) $200,001 to $500,000 (23) Over $5,000,000 (26) Liquid Net Worth Under $20,000 (01) $50,001 to $100,000 (02) $500,001 to $1,000,000 (24) Total Net Worth Under $20,000 (01) $50,001 to $100,000 (02) $500,001 to $1,000,000 (24) Risk Tolerance Low (01) Medium (02) High (03) Joint Account Holder Joint Account Holder The Account Holder is a director, 10% shareholder, or policy- making officer of a publicly traded company. Specify company name and address. Annual Income Under $20,000 (01) $50,001 to $100,000 (03) $300,001 to $500,000 (25) Account Holder The Account Holder is licensed or employed by a registered broker/dealer, securities exchange, or member of a securities exchange. Include a Compliance letter. Tax Bracket: % Joint Account Holder The Account Holder or a member of their immediate family any business associate is a senior political figure. Specify the name of the political figure, political title, relationship, and country of office. ACCOUNT STATEMENT & TRADE CONFIRMATIONS You will receive periodic account statements and trade confirmations electronically, unless you make a selection below. If a valid address is not provided, you will receive periodic paper statements and paper trade confirmations. You will be responsible for any fees that may apply. Please Note: If you elect to receive electronic documents, you will receive shareholder communications and tax documentation electronically when available. Please provide paper account statements ($5 each) and paper trade confirmations ($2 each). I understand that I will be responsible for the fees that apply. Unless I check here, Firstrade Securities will provide my name to corporations whose securities I hold in my account for the purpose of corporate communications ACCOUNT AGREEMENT I would like to open a brokerage account with Firstrade Securities Inc. ( Firstrade ) to be carried by Apex Clearing Corporation ( Apex ). I am of legal age to contract. I acknowledge that I have received, read and agree to be bound by the terms and conditions as set forth in the Firstrade Account Agreement, (available online at which is incorporated by this reference, as amended from time to time. I agree that Firstrade Securities Inc. does not provide legal or tax advice, and will not advise me concerning the nature, potential value, or suitability of any particular security, transaction, or investment strategy. I understand that investments purchased through Firstrade Securities are not insured by the FDIC (Federal Deposit Insurance Corporation), are not obligations of or guaranteed by any financial institution and are subject to investment risk and loss. I further acknowledge that I have received, read and understand the Margin Disclosure Statement provided by Firstrade Securities Inc. *Important Information about procedures for opening a new account: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask your name, address, date of birth and other information that will allow us to identify you. We may also use a third-party information provider for verification purposes and/or ask to see your driver s license or other identifying documents. *Under penalties of perjury, I certify (1) that the number shown on this application is my correct taxpayer identification number and (2) that I am not subject to backup withholding and (3) I am a U.S. person (including a resident alien) provided, however, if I am a nonresident alien as disclosed in this application, I do not certify that I am a U.S. person, and I understand that I must submit a W-8BEN Form. If I have been notified by the IRS that I am subject to backup withholding as a result of dividend or interest underreporting, I must cross out the text contained in clause (2) of this section and I understand I will be subject to backup withholding. BY SIGNING THIS APPLICATION, I ACKNOWLEDGE THAT, IN ACCORDANCE WITH PARAGRAPH 23 OF THE FIRSTRADE ACCOUNT AGREEMENT, I AGREE IN ADVANCE TO RESOLVE ANY DISPUTES ARISING OUT OF MY ACCOUNT BY ARBITRATION. I/WE FURTHER ACKNOWLEDGE THAT I/WE HAVE READ AND UNDERSTOOD PARAGRAPH 26 OF THE FDIC SWEEP PROGRAM TERMS AND CONDITIONS AVAILABLE AT JOINT ACCOUNT AGREEMENT In consideration of your establishing a joint account for the undersigned, the undersigned agree that each of them shall have the authority on behalf of the joint account to buy, sell (including short sales) and otherwise deal in, through you as broker, stocks, bonds and other securities and commodities, on margin or otherwise, to receive on behalf of the joint account demands, notices, confirmations, reports, statements of account and communications of every kind; to receive on behalf of the joint account money, securities and property of every kind and to dispose of the same; to make on behalf of the joint account agreements relating to any of the foregoing matters and to terminate or modify same or waive any of the provisions thereof and generally to deal with you or Apex Clearing Corporation on behalf of the joint account as fully and completely as if he alone were interested in said account. You are authorized to follow the instructions of any of the undersigned in every respect concerning the said joint account and to make deliveries to any of the undersigned, or upon his order, of any or all monies at any time or from time to time in the said joint account as he may order and direct, even if such deliveries and/or payments shall be made to him personally, and not for the joint account of the undersigned. Notwithstanding the foregoing, you reserve the right to insist upon written instructions bearing signatures of all parties to the account when such instructions effect change of ownership of monies and/or securities. In the event of any deliveries of securities or payments of monies to any of the undersigned as aforesaid, you shall be under no duty or obligation to inquire into the purpose or propriety of any such demand for delivery of securities or payment of monies, and you shall not be bound to see the application or disposition of the said securities and/or monies so delivered or paid to any of the undersigned or upon his order. The authority hereby conferred shall remain in force until written notice of the revocation addressed to you is received by your firm. The liability of the undersigned with respect to said account shall be joint and several. The undersigned further agrees that all property that you may at any time be holding or carrying for any one or more of the undersigned shall be subject to a lien in favor of you for the discharge of the obligations of the joint account to you, such lien to be in addition to and not in substitution of the right and remedies you otherwise would have. It is further agreed that in the event of the death of either or any of the undersigned, the survivor or survivors shall immediately give you written notice thereof, and you may before or after receiving such notice, take such proceeding, require such papers and inheritance or estate tax waivers, retain such portion of and/or restrict transactions in the account as you may deem advisable to protect against any tax, liability, penalty or loss under any present or future laws or otherwise. The estate of any of the undersigned who shall have died shall be liable and each survivor shall continue liable jointly and severally, to you for any net debit balance or loss in said account in any way resulting from the completion of transactions initiated prior to the receipt of the written notice of the death of decedent or incurred in the liquidation of the account or the adjustment of the interests of the respective parties. It is the express intention of the undersigned to create an estate or account as joint tenants with right of survivorship and not as tenants in common. In the event of the death of either of the undersigned, the entire interest in the joint account shall be vested in the survivor or survivors on the same terms and conditions as theretofore held, without in any manner releasing the decedent s estate from the liability provided for in the next preceding paragraph. I understand that you have entered into a fully disclosed clearing agreement with Apex Clearing Corporation ( Clearing Firm ) pursuant to which Clearing Firm may perform certain transaction processing, clearing, custodial, and financing functions for you with respect to the Account. I understand that Clearing Firm does not control, audit, or otherwise supervise your activities, does not verify information I provide to you regarding the Account or transactions processed for the Account, and does not undertake responsibility for reviewing the appropriateness of transactions entered by you on my behalf. I agree that you are not an agent of Clearing Firm, that Clearing Firm is not your agent, and that I will in no way hold Clearing Firm, or its officers, directors, employees and agents liable for any trading losses that I may incur. I agree that Clearing Firm is a beneficiary of my representations, warranties, acknowledgments, and covenants in this agreement (including, without limitation, my authorizations, indemnifications, waivers, and releases) to the same extent as if they were made directly by me to Clearing Firm. And I agree that Clearing Firm, in its own name and for its own benefit, shall be entitled to exercise and enforce directly against me such provisions and all other rights granted to you. Account Holder Signature INTERNAL USE ONLY Approval Date Cash Margin Date Joint Account Holder Signature Customer ID Verified Account Number Yes Date Date No NEWF - 06/12/17

3 Options Application and Agreement To add options trading privileges to a new and existing account, please provide all information and signature(s) below. Incomplete applications will cause your request to be delayed. Options trading is not granted automatically and the information will be used by Firstrade to assess your eligibility to open an options account. Please upload completed form via the Form Center (Customer Service ->Form Center ->Upload Form) after logging into your Firstrade account, fax to or to account.service@firstrade.com Account Name(s) (must be the same as on your corresponding cash/margin account) Firstrade Account Number (if application is for an existing account otherwise leave blank) - Applicant Information Name (First, Middle, Last for individual / indicate entity name for Entity/Trusts) Co-Applicant s Name (For Joint Accounts Only) Age Married Number of Dependents Age Married Number of Dependents Relationship with Primary Applicant Yes No Yes No Not Employed Employment Status Employed Self- Employed Retired Student Homemaker Employer (if retired, list previous employer) Employment Status Employed Self- Employed Retired Student Homemaker Employer (if retired, list previous employer) Not Employed Occupation/Position Type of Business (if no employer provided, list source of income such as Pension, royalties and trust fund) Occupation/Position Type of Business (if no employer provided, list source of income such as Pension, royalties and trust fund) Financial Status Primary Applicant Annual Income ($) Liquid Net Worth ($) (cash + securities only) Total Net Worth ($) (excluding residence) Co-Applicant Annual Income ($) Liquid Net Worth ($) (cash + securities only) Total Net Worth ($) (excluding residence) Investment Experience Applicant s Experience Stocks Bonds Options Co-Applicant s Experience (For Joint Accounts Only) Stocks Bonds Options Years Trades Per Year Average Size of Transaction: $1,000, $5,000, etc Knowledge Level Limited, Good, Extensive, Professional trader Years Trades Per Year Average Size of Transaction: $1,000, $5,000, etc Knowledge Level Limited, Good, Extensive, Professional trader Options Investment Objectives (Level 2, 3 & 4 require Speculation to be checked) Speculation Growth Income Capital Preservation Type of Trading Requested Level One Level Two Level Three (Margin Required) (Minimum equity of $10,000) Write Covered Calls Write Cash-Secured Equity Puts Write Covered Calls Write Cash-Secured Equity Puts Purchase Calls & Puts Write Covered Calls Purchase Calls & Puts Spreads & Straddles Butterfly and Condor Level Four (Margin Required) (Minimum equity of $25,000) Write Covered Calls Purchase Calls & Puts Spreads & Straddles Write Uncovered Puts Butterfly and Condor Option Agreement I hereby confirm that I have read the provisions of this option agreement and understand the contents thereof. I hereby expressly confirm all the information contained on this application, especially those concerning income, net worth and executing options transactions for my account. BY SIGNING THIS AGREEMENT, I ACKNOWLEDGE (1) THAT, IN ACCORDANCE WITH PARAGRAPH 23 of the Firstrade Account Agreement and Information Guide, I AM AGREEING IN ADVANCE TO ARBITRATE ANY CONTROVERSIES WHICH MAY ARISE WITH YOU, AND (2) RECEIPT OF A COPY OF THIS AGREEMENT X Applicant s Signature Date Co-Applicant s Signature Date Office Use Only Type of Option Transaction Approved Write Covered Calls Purchase Calls & Puts Spread & Straddle Write Cash-Secured Equity Puts Approved by (Manager): Date: Approved by (ROSFP): Date: Date OCC Disclosure Document Provided: X Write Uncovered Puts OP_APP_EN 06/2017

4 FIRSTRADE OPTIONS AGREEMENT This option agreement sets forth our respective rights and obligations arising in connection with any transaction by you on my behalf including but not limited to, the purchase and sale of put and call options: 1. I wish to commit a portion of my funds to trading in options. I consider myself sophisticated in investment matters and am able to read and understand confirmation and monthly statements. I realize and understand that any form of option trading has a number of risks connected therewith. I understand that the risk associated with option trading is extremely high, and in maintaining an option account and engaging in option trading through the facilities of your firm, I am engaging in transactions of a speculative nature. In investing in an option contract, I am speculating that the price of the underlying security will not only move in the direction which I anticipate (i.e. the price will move up in the case of a call option and move down in the case of a put option), but that the price move of the underlying security will also exceed the premium which I pay for the option, commissions and other transaction costs. Thus, if the price movement is not sufficient, I could lose my entire investment in the option contract. If I write an option contract without depositing or owning the underlying security, I realize that my risk of loss is potentially unlimited. Notwithstanding this risk of loss I agree to honor all assignments and deliver to you the underlying security in the prescribed time, and if I fail to deliver the underlying security in the proper time, I designate you to act as my agent and buy in such stock at the current market price so that I may honor my commitment to deliver. I understand that my account will be debited for any loss and that you will charge me a commission and a fee for this service. I have sufficient income and other assets to sustain this risk inherent in such investments. 2. I understand that I may not write call (sell options) on restricted stock, which I own as an insider. 3. I am familiar with the risks of option trading, and you shall not be held liable for such risks in connection with the execution, handling, purchasing, selling, exercising, and endorsement or options for my account. 4. Where I am long an option which is about to expire in the money, you are authorized, in your sole discretion and without notification to me, to exercise the option and liquidate the underlying stocks for my account, using your best efforts. This is in no way to be construed as an obligation on your part to sell or exercise such option on behalf of my account, and I therefore waive any and all claims for damages or loss which I may incur at any time against you arising out of the fact that any option in my account(s) was not exercised, unless I instructed you to do so. 5. There are special risks associated with uncovered option writing that expose the investor to potentially significant losses. Therefore, this type of strategy may not be suitable for all customers approved for options transactions. The potential loss of uncovered call writing is unlimited. The writer of an uncovered call is in an extremely risky position and may incur large losses if the value of the underlying instrument increases above the exercise price. As with writing uncovered calls, the risk of writing uncovered put options is substantial. The writer of an uncovered put option bears the risk of loss if the value of the underlying instrument declines below the exercise price. Such loss could be substantial if there is a significant decline in the value of the underlying instrument. Uncovered option writing is thus suitable only for the knowledgeable investor who understands the risks, has the financial capacity and willingness to incur potentially substantial losses, and has sufficient liquid assets to meet applicable margin requirements. In this regard, if the value of the underlying instrument moves against an uncovered writer's options position, the investor's broker may request significant additional margin payments. If an investor does not make such margin payments, the broker may liquidate stock or options positions in the investor's account, with little or no prior notice in accordance with the investor's margin agreement. For combination writing, where the investor writes both a put and a call on the same underlying instrument, the potential risk is unlimited. If a secondary market in options were to be unavailable, investors could not engage in closing transactions, and an option writer would remain obligated until expiration or assignment. The writer of an American-style option is subject to being assigned an exercise at any time after he/she has written the option until the option expires. By contrast, the writer of a European-style option is subject to exercise assignment only during the exercise period. NOTE: It is expected that you will read the booklet entitled CHARACTERISTICS AND RISKS OF STANDARDIZED OPTIONS available from your broker. In particular, your attention is directed to the chapter entitled Risks of Buying and Writing Options. This statement is not intended to enumerate all of the risks entailed in writing uncovered options. 5 a. I have previously received from you a disclosure document entitled "Characteristics And Risks Of Standardized Options" and any supplement thereto and I acknowledge your procedures regarding the latest hour at which exercise notices will be accepted by you. These procedures are as follows: Notice of exercise instructions must be given to you on normal business days not later than 4:45 p.m. Eastern Time. You will not be held liable for failure to tender an exercise if such notice is not received within the aforementioned time limitations. If I am an option writer, I understand that I am still liable for exercise against me within one business day following the expiration of the option contract. 6. I understand that should I have any open short position in options during the month of expiration which is in the money or near the exercise price, it is most likely it will be assigned on my short position and that as a writer of an option I may receive a Notice of Assignment as late as one or two business days following the expiration date. Therefore, I should not take any action until being assured by you that you have received all notices of Assignment for your accounts from the Option Clearing Corp., and that the particular open short Options in the accounts have or have not been called. I also understand that notices of Assignment for option contracts are allocated among customers on a random selection basis and that a more detailed description of your allocation procedure is available upon request. 7. I have read and am familiar with the disclosure document entitled "Characteristics And Risks Of Standardized Options" and any supplement thereto and agree to abide by all rules of the OCC, or any securities exchange rules governing option transactions, including but not limited to position and exercise limit rules. Under the position limit rules, unless some different provision has been made by the OCC for a particular stock, no single investor or a group of investors acting in concert (regardless of whether the options are held in one or more accounts or through one or more brokers) may hold more than the allowable number of option contracts covering the same underlying stock or index on the CBOE or Amex, etc. Under the exercise limit rules, unless otherwise determined and announced by the OCC, no holder or group of holders acting in concert, within any five consecutive business days, may exercise more than the allowable number of options covering the same underlying security or index. The number of allowable contracts varies widely for different equity and index options. 8. I agree to maintain in my account(s) with you such margin as you deem necessary or advisable, which may be changed by you from time to time, for the protection of your position as endorser of option contracts issued pursuant to my orders, and to respond to any and all margin calls issued by you in connection with such account(s). If I fail to comply with your margin calls you are authorized, in your discretion and without notification to me, to take such action as you may deem appropriate to protect the position and obligation which you may have assumed at my request. This authorization is intended to include (without limitation thereby) the purchase and sale for my account and risk of any part or all of the shares represented by options endorsed by you at my request, and the purchase for my account and risk for such additional puts and calls as you may deem necessary to fully protect yourselves. Any securities and funds held by you in any account of mine with you shall be held by you as security for the performance by me of my obligation to you under this agreement. 9. This agreement is supplementary to a Margin Agreement simultaneously or heretofore entered into between us and shall in no event be deemed to abrogate or in any other way diminish any of your rights under the Margin Agreement; provided, however, that in the event of any conflict between the terms of this agreement and the terms of the Margin Agreement, the provisions of this agreement shall prevail. 10. You shall not be liable for loss caused directly or indirectly by government restriction, exchange or market rulings, war, strikes, or any other conditions beyond your control. 11. The provisions of this agreement shall apply to all put options, call options, or other options which may have been previously purchased, sold, executed, handled, endorsed or carried for my account(s) and shall also apply to all put options, call options or other options which you may hereafter purchase, sell, handle, endorse or carry for my account(s) and shall inure to the benefit of your firm as now or hereafter constituted. 12. You are under no obligation to convey to me any information relating to the underlying securities covered by any options in my account(s) or any securities related thereto, or any information relating to the option, whether such information is then or thereafter known or available. I understand that any information, advice or notification in respect to any option or any underlying securities or securities related thereto which you may give me and which you are not required to give by the terms of this agreement, express or implied, shall not be construed as creating an implied agreement or course of dealing between us and shall not impair the provisions of this or any other agreement between us. 13. AGREEMENT TO ARBITRATE ALL CONTROVERSIES I represent that I understand the terms of the arbitration clause, as follows: (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 the party's right to appeal or seek modification of rulings by the arbitrators is strictly limited. (e) The panel of arbitrators will typically include a minority of arbitrators who were are affiliated with the securities industry. The undersigned agrees, and by carrying an account of the undersigned you agree, that all controversies which may arise between us, including but not limited to those involving any transaction or the construction, performance, or breach of this or any other agreement between us, whether entered into prior, on or subsequent to the date hereof, shall be determined by arbitration. Any arbitration under this agreement shall be concluded before the New York Stock Exchange, Inc. ("NYSE") or the Financial Industry Regulatory Authority. ("FINRA"), and in accordance with its rules then in force. I may elect in the first instance whether arbitration shall be conducted before the NYSE or the FINRA, but if I fail to make such election, by registered letter or telegram addressed to you at your main office, before the expiration of five days after receipt of a written request from you to make such election, then you may make such election. Judgment upon the award of arbitrators may be entered in any court, state or federal, having jurisdiction. 14. Class-action matters are excluded from arbitration proceedings conducted by the FINRA. Therefore, it is further agreed that the parties to this agreement shall not bring a putative or certified class-action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class-action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative 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. 15. I shall be responsible for all expenses incurred by you, including reasonable attorneys' fees in enforcing any provision of or collecting any amounts due you under this agreement. 16. Unless I give specific instructions as to where to direct orders, I hereby authorize you or the introducing broker to select the exchange or market to which my orders are directed. 17. I understand that firms clearing through you may from time to time purchase for their own account options, or securities underlying options, recommended to me. 18. I understand that my options count is subject to further review and acceptance. Transactions in my account made prior to such review and acceptance are valid transactions, notwithstanding future restrictions or limitations you may place on my account.

5 Account Agreement Member FINRA & SIPC Revision June General Information This form contains important Information about your Firstrade Securities Inc. ( Firstrade ) brokerage account which is carried by Apex Clearing Corporation ( Apex ) and contains terms and conditions you agreed to by signing the brokerage account application, margin agreement (if applicable) and option agreement (if applicable). Subsequent to the approval of your Firstrade Cash Account, you may elect to establish a Margin Account and/or Option Account. This information applies to all of your accounts with Firstrade, including cash, margin and option accounts. Upon approval, Firstrade will act as your broker for the purpose of transacting buy and/or sell orders for securities as instructed by you. You agree that Firstrade has no obligation to advise you on the suitability of any security, transaction or investment strategy and you acknowledge that you are responsible for monitoring profits and losses in your account. You agree that Firstrade does not provide legal or tax advice or advice regarding specific equities or listed options, including suitability and investment strategies. You agree that you are fully responsible for evaluating your personal financial circumstances and for determining your suitability for any particular security, transaction or investment strategy. You further agree that you have read the entire Firstrade and Apex Account Agreements and agree to all terms and conditions in these Agreements. For our protection against credit risks and other conditions, we may, without prior notice, decline to accept your orders or instructions or we may place restrictions on your account. You acknowledge that any order you place which Firstrade, in its sole discretion, deems to be disruptive to the securities markets, unusual in size, type or credit risk or which exceeds Firstrade's usual authorized limits may be subject to rejection, cancellation or modification. You acknowledge that market orders cannot always be canceled, because they are subject to immediate execution and the order may be executed before the request for cancellation is received by Firstrade. All transactions will be subject to the applicable rules, regulations, customs and usages of any exchange or market where executed clearinghouse or self-regulatory organization and to all applicable federal and state laws, rules and regulations. 2. Deposit of Equity We may require full payment or an acceptable deposit prior to the acceptance of any order. In the case of all securities, we require payment in advance for purchases and securities in advance of sales. In the case of options, we require cleared funds in the account prior to the acceptance of any purchases or the delivery of stock certificates in good deliverable form prior to writing covered calls. For our protection, we may restrict your ability to withdraw funds represented by a check or other instrument or to apply such funds in settlement of a transaction. 3. Settlement of Transactions The purchase and sale of securities are settled on ''settlement date.'' Stock transactions are settled on the third business day after the transaction. Option transactions are settled on the business day after the transaction. You therefore agree to pay us for all securities purchased by settlement date and to deliver securities sold in good deliverable form by settlement date. Unless you make other arrangements with us, we may use available funds and securities in your brokerage account to settle a transaction. Exchange and federal securities regulations require us to liquidate a transaction or an account in the event of a failure to pay for a transaction or a failure to deliver securities in good deliverable form. You agree to be fully liable for any and all brokerage commissions, fees, margin interest charges and applicable taxes due to Firstrade and/or Apex in connection with transactions effected by you in your Firstrade brokerage account. All checks must be made payable to Firstrade Securities Inc. All securities must be endorsed to Apex Clearing Corporation upon delivery. 1

6 4. Control or Restricted Securities Prior to placing an order in connection with any securities subject to Rule 144 or 145(d) under the Securities Act of 1933, you must advise your broker of the status of the securities and you must furnish us with the necessary documents (including legal opinions) to clear legal transfer. You acknowledge that there may be delays involved with the processing of control or restricted securities and that you will not hold Firstrade or Apex liable for any losses caused directly or indirectly by such delays. Firstrade and/or Apex may require, in our discretion, that control or restricted securities not be sold or transferred until such securities clear legal transfer. Firstrade and/or Apex reserve the right in their sole discretion to refuse to process the legal transfer of any control or restricted securities or any security which bears a restrictive legend. 5. Receipt of Communications Communications will be sent to you at the mailing address specified in the new account application or your updated account information in your account profile page (or at such other address as you may specify in writing). All communications so sent, whether by mail, mailgram, , messenger, electronic data communications, fax or otherwise, shall be considered delivered to you personally, whether actually received or not. You must inform us within a reasonable amount of time of any change in your name and/or address. 6. Credit Verification I authorize Apex or Firstrade to obtain a consumer report at the time of application to verify my creditworthiness and to obtain a consumer report from time to time for updates, renewals, extensions, and collection activity on any approved account. Upon my written request, Apex will disclose to me whether it obtained a report, and if so, the name and address of the consumer-reporting agency that provided it. In the event that my account is denied, as a result of the consumer report verification, I authorize Apex to provide to Firstrade the reason(s) for such denial. 7. Account Protection Firstrade Securities Inc. is a member of the Securities Investor Protection Corporation (SIPC), which protects brokerage account of each customer when a brokerage firm is closed due to bankruptcy or other financial difficulties and customer assets are missing from accounts. SIPC protects brokerage accounts of each customer up to $500,000, of which $250,000 may be in cash. Money market funds held in a brokerage account are considered securities. For more information on SIPC coverage, please visit Our clearing firm, Apex Clearing Corporation, has purchased an additional insurance policy through a group of London Underwriters (with Lloyd's of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to an aggregate of $150 million. This is provided to pay amounts in addition to those returned in a SIPC liquidation. This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $37.5 million, including cash of up to $900,000. This coverage does not protect against loss of the market value of securities. All new and existing account holders have an option to deposit their available cash balance to a FDIC Insured Deposit Accounts (please review Terms and Conditions at or a Brokerage Cash Account (balance held in brokerage account protected by SIPC). If at initial account opening, deposit option was not selected, cash balance will automatically default to a Brokerage Cash Account. 8. Agreement Subject to Approval This agreement will be effective only upon our approval. We reserve the right to reject your application. 9. Termination Firstrade reserves the right to terminate your account at any time and for any reason. Upon termination, you will remain liable for any debit balances or deficiencies in your account. You will reimburse Firstrade and/or Apex for the cost of collection of any debit balance or deficiency in connection with any of your accounts, including reasonable attorney's fees and court costs. 2

7 10. Joint Account Holders If there is more than one account holder, each account holder is jointly and severally liable for obligations arising under this agreement. Each joint account holder, acting alone and without notice to any other account holder, has the authority to deal with us fully and completely. We will follow the instructions of any joint account holder and we will not be responsible for determining the purpose or propriety of any instruction received from any joint account holder. We reserve the right to require written instructions from all account holders, at our discretion. Any notice sent to one account holder will be deemed to be notice to all account holders. 11. Accuracy of Account Information You represent and warrant that you have supplied us with accurate information in your new account application and no one except the account holders listed has an interest in the account. You agree to notify Firstrade in writing if there is a change in the facts set forth in the account information of your new account application, including your name, address and telephone number. In addition, you agree to notify Firstrade if any of the account holders become employed by a securities firm, securities exchange or an entity controlled by a securities exchange. You also agree to notify us if any of the account holders become a director, officer, 10% shareholder or an ''affiliate'' as defined by Rule 144 under the Securities Act of Customer's Responsibility Regarding Certain Securities Certain securities may grant the securities holder valuable rights that may expire unless the holder takes action. These securities include (but are not limited to) warrants, stock rights, convertible securities, bonds, and securities subject to a tender or exchange offer. You acknowledge that you are responsible for knowing the rights and terms of all securities traded in your account and securities long in your account. We are not obligated to notify you of any upcoming expiration or redemption dates or to take any action on your behalf without specific instructions from you, except as required by law and the rules of regulatory authorities. If we hold securities in your account that are callable in part, you agree to participate in an impartial lottery allocation of the called securities, according to the rules of the New York Stock Exchange. 13. Liens and Liquidations All securities and other property held in any of your Firstrade accounts (which are carried by Apex), including accounts in which you have an interest, shall be subject to a general lien for discharge of all your indebtedness and other obligations to us. Such securities and other property shall be held by us as security for payment of any liability or indebtedness you may incur in any account with us. We reserve the right to transfer securities and other properties from any of your other accounts with us, whenever we determine such a transfer appropriate for our protection and we reserve the right to determine at our discretion which securities and other property are to be sold and/or purchased in enforcement of our lien. Circumstances that may require the liquidation of an account include, but are not limited to: the failure of a customer to pay for securities purchased or the failure to deliver securities in good form; the filing of a petition of bankruptcy by or against a customer; the appointment of a receiver by or against a customer; an attachment levied against any account of the customer or any account in which the customer has an interest; or the customer's death. You are responsible for costs, commissions and losses arising from any actions we take to liquidate or close transactions in your account due to your failure to pay for transactions and/or to deliver securities in good form. 14. Losses Due to Extraordinary Events Firstrade and Apex will not be liable for losses caused directly or indirectly by government restriction, exchange or market rulings, wars, strikes or any other conditions beyond their control. 15. Market Data Stock price quotations and other market data we may provide you with are obtained from independent pricing services we believe are reliable. However, we cannot guarantee the accuracy of such data and we will not be held liable for any losses incurred by your use of it. 16. Order Flow Payment and Order Execution Routing Disclosure Statement This disclosure statement is being provided to all clients of Firstrade, as required by Rule 11A of the Securities and Exchange Commission. ''Order Flow'' refers to the process by which your securities transactions are executed. Order Flow Payment Information: Firstrade and Apex (which provides securities clearing and execution services for Firstrade) may receive remuneration in the form of payments for directing securities transactions to designated exchanges, market 3

8 makers, dealers or market centers for execution. Such remuneration may take the form of rebates, monetary compensation or a reduction in exchange specialist fees based on volume and is considered to be compensation to Firstrade and Apex. The source and amount of any remuneration or compensation received by Firstrade and Apex in connection with a specific transaction will be disclosed upon written request. Order Execution Routing Information: Absent specific instructions from customers, Apex routes most orders in over-thecounter (''OTC'') securities to designated OTC market makers or third-market dealers based on an alphabetical selection process performed by a computerized system. Selected exchange-traded securities may be routed to affiliated specialists, regional exchanges or designated third- market dealers. All orders are routed to an exchange, market maker, dealer or market center that matches or improves upon the displayed national best bid or offer for the particular security at the time the order is processed. Price improvement opportunities or execution at prices superior to the displayed national best bid or offer, are available for certain transactions in NASDAQ and listed securities from certain of the OTC market makers and third-market dealers to which orders are routed. 17. Governing Laws This agreement will be governed by the laws of the State of New York. 18. Entire Agreement and Severability This agreement contains the entire understanding between us concerning the subject matter of this agreement. If any provision of this agreement is held to be invalid, void or unenforceable by reason of any law, rule, administrative order or judicial decision, that determination shall not affect the validity of the remaining provisions of this agreement. 19. Customer's Estate You agree that this agreement and all the terms and conditions contained within will be binding upon your heirs, executors, administrators and/or personal representatives. 20. Assignments You acknowledge that this agreement shall inure to the benefit of Firstrade and/or Apex and their successors and assigns. Firstrade and/or Apex may assign their rights and duties under this agreement to any of their subsidiaries or affiliates without notice to you or to any other entity upon prior written notice to you. 21. Miscellaneous Fees Your account may be charged certain fees related to the type of activity in the account. Examples of activities which generate fees include, but are not limited to; Mailgram Notices (margin call, sell-out & buy-in), Bounced Checks, Wiring of Funds, Outgoing Account Transfers, Issuance of Stock Certificates, Legal Transfers, Option Assignment, Paper Account Statements and Confirmations, Duplicate Copies of Account Statements, Confirmations and Checks. Visit our website at for more information related to fees. Fees are subject to change without notice. 22. Margin Accounts SERVICES PROVIDED: We agree to act as your broker to purchase or sell securities, on margin as directed by you. In addition, Apex agrees to extend credit to you in accordance with their margin account rules. You will, at all times, be liable for the payment, upon demand, of any debit balance or other charges. MAINTENANCE OF MARGIN: You will, at all times, maintain such securities and other property in your account as margin collateral as required by Firstrade Securities Inc., Apex and/or applicable exchange and federal regulations. A margin call may be issued if your account equity falls below such requirements. Firstrade and/or Apex retain sole discretion to determine whether additional collateral will be required. You acknowledge that Firstrade and/or Apex are not obligated to request additional margin in the event your account falls below minimum margin requirements. Market conditions or other circumstances may not allow Firstrade and/or Apex to give you notice when your account equity becomes deficient or to allow you time in which to deposit additional equity. Firstrade and/or Apex, therefore, reserves the right in their sole discretion to sell securities and other property held in your account(s) as collateral, to cancel open orders, to buy securities and other property which may be short in your account, to close open option positions and to take any other action Firstrade and/or Apex deem necessary for their protection, all without prior notice, advertisement or demand to. 4

9 PLEDGE OF SECURITIES AND OTHER PROPERTY. All securities and other property now or hereafter held, carried or maintained by Apex in or for any account in which you have an interest may be pledged, re-pledged, hypothecated or rehypothecated by Apex from time to time without notice, either separately or in common with other securities and property for any amount due in your accounts or for any greater amount and Apex may do so without retaining in their possession or under their control for delivery a like amount of similar securities or other property. You also authorize Apex to lend to themselves or others any securities or other property held by Apex on margin from your account or any accounts under your control. INTEREST CHARGES ON DEBIT BALANCES: Your account will be charged interest monthly on the average daily net debit balance in all of your accounts, in accordance with Apex's margin rules, at the prevailing rate as determined by Apex. The interest charged will appear on your monthly statement and will indicate the rate and the period covered. The rate may change from time to time without prior notice, due to fluctuations in interest rates or other causes. Interest charges are based on a 360-day interest year. Interest is computed from the 16th day of the preceding month to the 15th day of the current month, except in January and December. In January, interest is computed from the 1st day of the month to the 15th. In December, interest is computed from the l6th day of the month to the 31st. In calculating margin interest, free credit balances in all accounts will be offset against any debit in the margin account and interest will be charged on the net debit balance, if any. SHORT SALES: You agree that any ''short'' sale shall be designated as such to us at the time you place such an order and you hereby authorize us to mark such order ''short.'' You acknowledge that a short sale is the sale of a security you do not own and that to facilitate a short sale Apex must borrow stock to cover the delivery to the purchaser(s). If the stock is recalled by the lender(s) of the securities, Apex will attempt to re-borrow the securities, but Apex may be forced to cover your short position on the open market at the then current market price. You will be liable for any debit balance remaining after a short position has been closed out. If any securities that you borrow are deem as hard to borrow, additional fee will be charged. You agree to meet the appropriate margin requirements for your short account as required by Apex and/or applicable exchange or federal regulations. The credit balance generated by short sales in your account is not a free credit balance. If the market value of your short account is greater than the short account credit balance, interest will be charged on the appreciation in value of the short positions. If the market value of your short account is less than the short account credit balance, interest on any debit in the account will be reduced in relation to the decline in value. Each Friday's closing price is used to determine the increase or decrease in the short account and your account is thus marked to the market daily. AGREEMENT SUBJECT TO APPROVAL: This account and/or margin agreement will be effective only upon Firstrade and/or Apex approval. Firstrade and/or Apex reserve the right to reject your account and/or margin agreement. 23. Arbitration You acknowledge that you have read and understood the following facts about arbitration procedures: Arbitration is final and binding on the parties. The parties are waiving their right to seek remedies in court, including the right to a jury trial. Pre-arbitration discovery is generally more limited than and different from court proceedings. The arbitrator's award is not required to include factual findings or legal reasonings and any party's right to appeal or to seek modification of rulings by the arbitrators is strictly limited. The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry. No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action and who is a member of a putative class who has not opted on (of the class with respect to any claims encompassed by the putative class action until: (i) the class action certification is denied; (iii) 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. You agree that any controversy between you and Firstrade Securities Inc., Apex Clearing and/or any of their officers, directors, employees, agents or affiliates relating to the account agreement, your account and the transactions therein or in any way arising out of your relationship with Firstrade Securities Inc. and/or Apex, will be settled by arbitration in accordance with the rules then in effect of the Financial Industry Regulatory Authority (FINRA), as governed by the laws of the State of New York, which must be commenced by a written notice of intention to arbitrate. Judgment upon arbitration award may be rendered in any court of competent jurisdiction. 5