Munich Re Trading LLC Two Hughes Landing 1790 Hughes Landing Blvd, Suite 275 The Woodlands, Texas 77380 Telephone No.: 832 592 0055 MUNICH RE TRADING LLC CUSTOMQUOTES WEBSITE TERMS OF USE AND DISCLAIMER Your accessing this CustomQuotes Website, you, the user, agree to and are subject to the Terms of Use and Disclaimer, (the Terms and Use ) as outlined herein as well as you agree to comply with all applicable laws and regulations. Please read these Terms of Use carefully. If you do not accept and do not agree to be bound and subject to compliance with any of these terms or conditions, you are not authorized to access or otherwise use this website or any information or contents contained within this site. Your access to and use of this Website constitutes your acceptance of and agreement to abide by each of these terms and conditions set forth below. I. User Content This CustomQuotes Website ( CustomQuotes Website or Website ) and its Content, as defined below, is owned and operated by Munich Re Trading LLC ( Munich Re Trading ), a subsidiary of Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München ( Munich Re ). Throughout this site, the terms we us and our refer to Munich Re Trading. The Website provides users with access to online information and materials, including audio, text, files, pictures, illustrations, graphics, video, logos, button items, images, works of authorship and other contents (collectively, the Content ). You may use the Content only in the form provided or as displayed on the site and for your own internal purposes. The reports, newsletters, and additional content information that appear on this Website may not be current and should not be relied upon for any reason without first independently verifying the data. Munich Re Trading does not undertake any obligation to update, correct or supplement any of such information. II. Information Purpose This CustomQuotes Website has been prepared solely for education and information purposes, and is not an offer to buy or sell solicitation, proposal, investment, advise of any kind, nor does it purport to infer or guarantee any outcomes of any product or any particular trading strategy. This Website contains interactive modules and case scenarios to assist users in learning more about various risk protective product types that are available with Munich Re Trading. Although every attempt has been made to ensure the accuracy of the information, we assume no liability for errors or omissions. Examples are provided for illustration purposes only and should not be construed as any type of
investment advice, strategy or a guaranty of any kind. The Information on this Website does not contain a complete description of any product or service which may be offered by Munich Re Trading. The information in this Website does not attempt to describe the risk to investors that may be associated with the way trading is conducted. The information herein is intended to afford general guidelines on matters of interest, and to serve solely as an introduction of certain service types. The information in this Website is not intended to serve as legal, accounting, investment or tax advice. Users are encouraged to consult with professional advisors for specific matters. III. Intellectual Property A. Trademarks and Service Marks. The names, logos, taglines and other marks identifying Munich Re Trading and/or their respective products and services are proprietary marks of Munich Re. Any other trademarks and service marks are the property of their respective owners. IV. Site Access A. Connection Requirements. You are responsible for providing and maintaining, at your own risk, option and expense, any hardware, software and communication lines required to access and use this CustomQuotes Website, and Munich Re Trading reserves the right to change the access configuration of this Website at any time without prior notice. B. Prohibited Use Any use or attempted use of this CustomQuotes Website (i) for any unlawful, unauthorized, fraudulent or malicious purpose, or (ii) that could damage, disable, overburden, or impair any server, or the network(s) connected to any server, or (iii) to interfere with any other party's use and enjoyment of this Website, or (iv) to gain unauthorized access to any other accounts, computer systems or networks connected to any server or systems through hacking, password mining or any other means, or (v) to access systems, data or information not intended by Munich Re Trading to be made accessible to a user, or (vi) to attempt to obtain any materials or information through any means not intentionally made available by Munich Re Trading, or (vii) other than the business purpose for which it was intended, is prohibited. You may not download or copy the Contents without prior written approval of Munich Re Trading. You may not modify, amend or combine Contents to form a new product or a derivative. You may not display or link to the site without prior written permission. You may not use Contents in a way that reaches any applicable 2
law or regulations or is fraudulent or competes with Munich Re Trading. You must not misuse this site by knowingly introducing viruses, Trojans, worms or other material which is malicious or harmful. You must not attempt to gain unauthorized access to this site, the server or which this site is stored or any server, computer or database connected to this site. You must not attack this site as a retaliation for denial of service attack or similar. We may report any such attack and breach to the relevant law enforcement authorities. In the event of such breach, your right to use this site will cease immediately. You must not use any robot, spider or other automatic devise to harvest Content from this site. You must not defeat any access controls, access any portion of this site that we have not authorized you to access, attempt to access or use another user s account or information, or allow anyone else to use your account or access credentials. C. Hyperlinks to Third Party Websites This CustomQuotes Website may contain hyperlinks to and Content from other sites owned and operated by parties other than Munich Re Trading. Such hyperlinks and Content are provided only for ready reference and ease of use. We do not control such websites and cannot be held responsible for their content or accuracy and do not endorse these sites unless we specifically so state. In the event this Website provides hyperlinks to or Content from other websites that are not owned, operated or maintained by Munich Re Trading, you acknowledge and agree that Munich Re Trading is not responsible for and is not liable for the content, products, services or other materials on or available from such websites. We accept no liability for any information, products, advertisements, Content, services or software accessible through these third party websites or for any action you may take as a result of linking to any such website. Any such websites are likely to set forth specific terms of use and privacy policies that you should review. Munich Re Trading is under no obligation to maintain any link on this Website and may remove a link at any time in its sole discretion for any reason whatsoever. Munich Re Trading shall not be responsible or liable, directly or indirectly, for any damages or losses caused or alleged to be caused by or in connection with the use of or reliance on such content, products, services or other materials available on or through any such website. D. Right to Monitor Munich Re Trading neither actively monitors general use of this CustomQuote Website under normal circumstances nor exercises editorial control over the content of any third party's website, electronic mail transmission, news group, or other material created or accessible over or through this Website. However, 3
V. Warranty Munich Re Trading does reserve the right to monitor such use at any time as it deems appropriate and to remove any materials that, in Munich Re Trading s sole discretion, may be illegal, may subject Munich Re Trading to liability, may violate these Terms of Use, or are, in the sole discretion of Munich Re Trading, inconsistent with Munich Re Trading s purpose for this Website. A. Each time you access this CustomQuotes Website, you represent, warrant, and covenant that you are at least eighteen (18) years old and have reached the age of majority in your jurisdiction. Each time you access this Website, you shall be deemed to represent, warrant, and covenant to Munich Re Trading that (a) you have read and agree to be bound by these Terms of Use, and you have all requisite regulatory and legal authority to enter into and be bound by these Terms of Use; (b) your use of this Website complies with all applicable laws, rules, and regulations and you shall not use the Website or any information obtained through the Website in violation of any law. B. You warrant that when using this CustomQuotes Website you shall not: 1) resell or transfer any Content of this Website; 2) impersonate, or otherwise misrepresent your affiliation with any other person or entity; 3) modify, falsify, or delete any attributions, legends, marks, notices, or any other proprietary designation of the origin or source of any material (including Content) appearing on this Website; 4) copy, transmit, reproduce, modify, create derivative works of, distribute or in any way exploit any information, Content, component or other material obtained through this Website (other than as expressly permitted by these Terms of Use); 5) violate, attempt to violate or assist, intentionally, negligently or otherwise, in any violation of the confidentiality or security of any information provided to Munich Re Trading by other Website users; 6) use any robot, spider, other automatic device, or manual process to monitor or copy Website pages or the contents contained therein without the prior expressed written permission of Munich Re Trading; or 7) violate or facilitate any violation of any applicable local, state, federal, or international law, statute, regulation, code, or ordinance, including, without limitation, regulations promulgated by or the rules of any national or other securities exchange. 4
C. No Warranties. YOU ACKNOWLEDGE THAT MUNICH RE TRADING PROVIDES THE CONTENT OF THIS WEBSITE FOR INFORMATIONAL PURPOSES ONLY AND ON AN AS IS BASIS WITH NO WARRANTIES OF ANY KIND. YOUR USE OF THIS WEBSITE AND USE OR RELIANCE UPON ANY OF THE MATERIALS ON IT IS SOLELY AT YOUR OWN RISK. VI. Limitation of Liability YOU UNDERSTAND AND AGREE THAT MUNICH RE TRADING WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PRODUCTS, USE, DATA OR OTHER INTANGIBLE LOSSES, EVEN IF MUNICH RE TRADING HAS BEEN ADVISED OF THE POSSIBILITIES OF THOSE DAMAGES, RESULTING FROM YOUR USE OR INABILITY TO USE THIS WEBSITE OR CONTENT, THE COST OF OBTAINING SUBSTITUTE PRODUCTS AND SERVICES RESULTING FROM ANY LOSS OF DATA, INFORMATION, OR STATEMENT OR CONDUCT OF ANY THIRD PARTY, OR ANY OTHER MATTER RELATED TO THIS WEBSITE OR CONTENT. YOU UNDERSTAND AND AGREE THAT YOUR USE OF THIS WEBSITE IS PREDICATED UPON YOUR WAIVER OF ANY RIGHT TO SUE MUNICH RE TRADING DIRECTLY OR TO PARTICIPATE IN A CLASS ACTION SUIT FOR ANY LOSSES OR DAMAGES RESULTING FROM YOUR USE OF THIS WEBSITE. VII. Indemnification A. YOU AGREE TO INDEMNIFY, DEFEND AND HOLD MUNICH RE TRADING, INCLUDING THEIR DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, ATTORNEYS, INDEPENDENT CONTRACTORS, PROVIDERS, AFFILIATES, LICENSORS, ASSIGNS, SUBCONTRACTORS, SERVICE PROVIDERS, SUPPLIERS AND SUCCESSORS IN INTEREST (COLLECTIVELY, MUNICH RE TRADING INDEMNITEES ) FROM AND AGAINST ANY AND ALL CLAIM, LOSS, EXPENSE, C O S T S OR DEMAND OR LIABILITY, INCLUDING ATTORNEYS' FEES AND COURT COSTS, INCURRED BY THE MUNICH RE TRADING INDEMNITEES ARISING OUT OF (I) ANY CLAIM BY A THIRD PARTY THAT YOUR USE OF THIS WEBSITE, INCLUDING BUT NOT LIMITED TO THE POSTING, DISTRIBUTION, COPYING, MODIFICATION, ALTERATION OR ANY USE BY YOU OF ANY CONTENT OR SOFTWARE AVAILABLE ON THIS WEBSITE, INFRINGES A THIRD PARTY'S RIGHT, OR (II) YOUR USE OF THIS WEBSITE IN VIOLATION OF THESE TERMS OF USE OR IN VIOLATION OF ANY APPLICABLE LAW. B. You agree to cooperate with us as reasonably required in the defense of any such claims. The Munich Re Trading Indemnitees reserve the right, at their own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, and you shall not in any event settle any such claim or matter without the written consent of Munich Re Trading. 5
C. You agree not to hold the Munich Re Trading Indemnitees liable for any loss or damage of any sort incurred as a result of any such misappropriation, interception, modification, deletion, destruction, or use of information provided through this Website. VIII. IX. Registration This CustomQuotes Website is accessible only via a login and password and only available to registered and eligible entities and their employees that gained access through a registration process. Termination and Disable Accounts The permission to use this CustomQuotes Website granted by these Terms of Use automatically terminates if you breach any of the terms and conditions contained herein. Upon termination, you must immediately leave this Website and destroy any downloaded or printed materials. Munich Re Trading reserves its right to prevent you from accessing this Website if you do not comply with any part of these terms and conditions. Munich Re Trading reserves the right at any time and in its sole discretion to change, suspend, discontinue or remove any portion or this entire Website and to change or revise or the Terms of Use without notice. Unused accounts may be terminated or disabled at Munich Re Trading s sole discretion. New account will be required for future access. X. Owner of Content A. Ownership of Information Submitted via this CustomQuotes Website With the exception of any personal data or information you submit, any information you transmit to Munich Re Trading via this Website, whether by direct entry, submission, electronic mail or otherwise, including data, questions, comments, or suggestions, will be treated as non-confidential and nonproprietary and will become the property of Munich Re Trading. Such information may be used for any purpose, including but not limited to reproduction, solicitations, disclosure, transmission, publication, broadcast, and posting. Munich Re Trading shall be free to use any ideas, concepts, know-how, or techniques contained in any communication you send to Munich Re Trading via this Website or by any other means for any purpose whatsoever, including, but not limited to, developing and marketing products using such information. 6
B. No editorial control of third party content, no statement as to accuracy. To the extent that any of the Content included in this CustomQuotes Website is provided by third party content providers, Munich Re Trading has no editorial control or responsibility over such Content. Therefore, any opinions, statements, services or other information expressed or made available by third party suppliers on this Website are those of such third party suppliers. Munich Re Trading does not represent or endorse the accuracy or reliability of any opinion, statement or other information provided by any third party, or represent or warrant that your use of the Content displayed on this Website or referenced content or service providers will not infringe rights of third parties not owned by or affiliated with the Munich Re Trading. XI. Copyright A. Except as otherwise expressly stated, all Content appearing on this CustomQuotes Website is the copyrighted work of Munich Re Trading, or third party content suppliers, and is protected by U.S. and international copyright laws. The compilation (meaning the collection, arrangement and assembly) of all Contents is also the exclusive property of Munich Re Trading and is protected by U.S. and international copyright laws. B. You may download information from this Website and print out a hard copy for your personal use provided that you keep intact and do not remove or alter any copyright or other notice (e.g., trademark, patent, etc.) contained in the information. Except as otherwise expressly stated herein, you may not alter, modify, copy, distribute (for compensation or otherwise), transmit, display, perform, reproduce, reuse, post, publish, license, frame, download, store for subsequent use, create derivative works from, transfer, or sell any information or Content obtained from this Website, in whole or in part, including any text, images, audio, and video in any manner, without the prior written authorization of Munich Re Trading or any applicable third party suppliers. The use of Content, including images, by you, or anyone else authorized by you, is prohibited unless specifically permitted by Munich Re Trading. Any unauthorized use of text or images may violate copyright laws, trademark laws, the laws of privacy and publicity, and applicable regulations and statutes. Munich Re Trading, does not warrant or represent that your use of Content or any other materials displayed on this Website will not infringe rights of third parties. C. Munich Re Trading does not grant a license to you for the site or its Contents. Any software or other materials that may be made available for downloading, access or other uses from this site will be governed by its own licensed terms. 7
XII. Security and Safe Harbor A. Safe Harbor. This CustomQuotes Website may from time to time contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. That Act provides a statutory "safe harbor" for forward-looking statements. Any written or oral statements made by or on behalf of Munich Re Trading or operating divisions reflect current views with respect to future events and financial performance. These forward-looking statements are subject to uncertainties and inherent risks that could cause actual results to differ materially from those contained in any forward-looking statement. Please refer to the United State Securities and Exchange Commission for further information on such uncertainties and inherent risks and the "safe harbor" under the Private Securities Litigation Reform Act of 1995. B. Security. Munich Re Trading takes appropriate technical and organizational measures against unauthorized or unlawful processing of personal data and against accidental loss or destruction of, or damage to, personal data. However, although Munich Re Trading takes appropriate measures to protect the security of the information communicated through this Website, the Internet is an open network that is not secure and there is an inherent risk that any transmission via the Internet may be intercepted, modified, misdirected, or not be delivered to the intended recipient. In addition, there is also an inherent risk that information stored on a computer connected to the Internet may be accessed without authorization. As no Internet-connected computer system can be made absolutely secure from intrusion, Munich Re Trading cannot and does not guarantee that information displayed on this Website has not been modified by others without authorization or that information communicated by you to us will be received or that it will not be altered before or after its transmission. The Munich Re Trading Privacy Statement is incorporated by reference. By agreeing to these Terms you expressly consent to the use and disclosure of your information as described in the Privacy Statement. XIII. Disclaimer A. Information used in this CustomQuotes Website and the scenarios and cases are not real prices and are not quotations and are for example and education purposes only. B. The information Content was prepared by Munich Re Trading with the view that the information is clear, and not misleading. 8
C. When the term Munich Re Trading is used, this reference does not indicate or infer that it conducts or conducted specific activities, offers a specific product, or has a particular licensing status in a jurisdiction. D. Access to such information is made available with the understanding that Munich Re Trading, including its employees, any third party whose content may be made available, is not engaged in rendering insurance, financial, coverage, investment, accounting, legal or other professional advice. If you require professional advice or other expert assistance, you must not rely on information provided on this Website. Consult your own competent, professional advisors for such advice or assistance. E. For purposes of this Disclaimer and Terms of Use, the definition of CustomQuotes Website or Website does not include the Client Portal (as defined below) portion of the Website. Access to and use of the CustomQuotes client portal ( Client Portal ) is subject to Munich Re Trading Terms of Use for the Client Portal ( Client Portal Terms of Use ) only. The Client Portal is accessible only via a login and password and only available to registered and eligible entities and their employees. The Client Portal Terms of Use is available on the Client Portal. F. The Contents contained in this Website may not be reproduction, sold or redistributed without the written consent of Munich Re Trading. Neither Munich Re Trading or any affiliate thereof including but not limited to directors, officers, employees, contractors and agents, accept any liability whatsoever for any direct, indirect or consequential damages or losses arising from use of this site or its contents. G. RISK DISCLOSURE: THERE IS A HIGH DEGREE OF RISK IN TRADING. THE RISK OF TRADING, REGARDLESS OF THE TYPES, SUCH AS FUTURES, OPTIONS, OTHER DERIVATIVES, CAN BE SUBSTANTIAL AND EACH INVESTOR AND / OR TRADER MUST CONSIDER WHETHER THIS IS A SUITABLE INVESTMENT. PAST PERFORMANCE IS NOT NECESSARILY AN INDICATION OF FUTURE RESULTS. IT SHOULD NOT BE ASSUMED THAT THE METHODS, TECHNIQUES, OR INDICATORS PRESENTED IN THIS WEBSITE WILL RESULT IN PROFITABLE OR THAT THEY WILL NOT RESULT IN LOSSES. EXAMPLES ON THIS WEBSITE ARE FOR EDUCATIONAL PURPOSES ONLY. THE SET-UPS ARE NOT DEEMED TO BE SOLITATIONS OF ANY ORDER TO BUY OR SELL. THE OWNER AND ALL AFFILIATES ASSUME NO RESPONSIBILITY FOR YOUR TRADING RESULTS. 9
H. Hypothetical Performance Disclaimer: Hypothetical performance results, as provided in this Website, have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profitable or losses similar to those shown. In fact there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. I. Other Hypothetical performance results are often prepared with the benefit of hindsight. In additional, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. There are many other factors that may impact specific trading programs which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. Munich Re Trading has made every attempt to ensure the accuracy and reliability of the information provided on this Website. However, the information is provided as is without warranty of any kind. Munich Re Trading does not accept any reasonability or liability for the accuracy, content, completeness, legality or reliability of the information contained on this Website. No warranties, promises and/or representations of any kind, expressed or implied, are given as to the nature, standard, accuracy or otherwise of the information provided in this Website nor to the suitability or otherwise of the information to your particular circumstances. We cannot and will not guarantee that this Website is free from computer viruses or anything else that has destructive properties. We shall not be liable for any losses or damage of whatever nature (direct, indirect, consequential, or other) whether arising in contract, tort or otherwise, which may arise as a result of your use of (or inability to use) this Website, or from your use of (or failure to use) the information on this Website. XIV. Governing Law You agree that your use of this Website and the Terms of Use, and/or any disputes related to any of them shall be governed in all respects by the laws of the State of Texas. Any dispute relating to the above shall be resolved solely in the state or federal courts located in Harris County in Texas. You hereby irrevocably and unconditionally consent to the jurisdiction and venue in the state and federal courts sitting in Harris County in Texas. 10
XV. Contact Us If you have any questions about these Terms of Use or would like to learn more about how we protect privacy, please contact us at Legal@mrtl.com. All request must include the following information; First name, last name, and email address. While we make reasonable efforts to accommodate your request, we also reserve the right to impose certain restrictions and requirements on such access requests to our website and accounts, and as further required by applicable laws. XVI. Severability If any provision, or condition in this Terms and Use, or the application thereof shall be held to be invalid or unenforceable (in whole or in part), the remaining provisions or condition shall continue in full force and effect as if the Terms and Use where published with the invalid or unenforceable portion eliminated, so long as the Terms of Use as so modified continues to express, the original intentions. XVII. Notice of Changes Munich Re Trading reserves the right to revise, modify, supplement or update these Terms of Uses at any time. Unless otherwise indicated, any new contents or additions added to this Website will also be subject to these Terms of Use effective upon the date of any such addition. The date of these Terms of Uses, as indicted below, shows the last time it was revised or updated. You are encouraged to review this Website periodically for changes and updates since the last time you reviewed these Terms of Use. Munich Re Trading may, at its discretion, modify, improve, change or discontinue any of the Content, or any portion thereof, with or without advance notice. Munich Re Trading will not be liable to you or any third party for any modification or discontinuance of any of the Content. XVIII. Date. The Terms of Uses was last modified January 19, 2018. We welcome suggestions, questions and comments. Please contact us at customquotes@mrtl.com. This information on this and any other page of this Website is provided subject to the terms of Munich Re Trading LLC, Terms of Uses and Disclaimer Agreement and Privacy Statement. Copyright 2018 - Munich Re Trading LLC 11