Interactive Broker Account Application Aug2011

Page 1 / 43U923307 - IB UK Account Application for Financial Advisor Clients (Individual/Joint) - Aug 16 2010

Interactive Brokers (U.K.) LTD Account Applicationfor Financial Advisor ClientsFor Individuals or Joint Account Holders

U 9 2 3 3 0 7 This application form is for Interactive Brokers individual or joint account applicants whose account will be managed by an advisor and who live in Europe or the United Kingdom.Do not use this application if your account will not be managed by an advisor. Do not use this application for a corporate, organization, partnership or trust account. Do not use this application if you do not reside in Europe or the United Kingdom.Please answer ALL required questions. Failure to answer a question or provide a document or signature will delay approval of your account.Please check to ensure that you have completed all of the below steps before you return your application to us:

Instructions:

Review Application.

Fill Out the Security Question and Answer Section (Page 7 ).

Provide All Required Signatures. Signatures Are Requested On The Following Pages:

Page 1 8

Page 2 3

Page 2 4

Page 2 6

Provide Instructions For Initial Deposit Of Funds And/Or Securities To Your Account.

Include Required Proof Of Identity And Address For Each Account Holder.

Proof of Identity for Account Holder

Separate Document as Proof of Address for Account Holder

Proof of Identity for Joint Account Holder (If Joint Account)

Separate Document as Proof of Address for Joint Account Holder (If Joint Account)

Return Completed Application Package, Along With Proof Of Identity And Address Documents For Each Account

Holder, To Your Advisor Or To Interactive Brokers. If Sending To Interactive Brokers Directly, Use Any Of The

Following:

Scan and Email [email protected]

Courier/Overnight Service(e.g., Fed Ex)

Interactive Brokers (U.K.) Limited

Attn: Document Processing

Got thards t rasse 3

6301 Zug

Switzerland

+ 4 1 - 4 1 - 7 2 6 - 9 5 0 0

Fax +(41-41) 726-9599

Mail(Please allow extra time for processing)



P.O. Box 254

6301 Zug

Switzerland

Thank You for choosing Interactive Brokers.

mailto:[email protected]


I. Account and Applicant Information

Name of Your Financial Advisor Name of Advisor's Firm (if any)

Country of Legal Residence State/Province

Account Type (check only one)

Individual

Joint (check one):

Joint Tenants - Right of Survivorship (if one holder dies, interest passes to other holder)

Community Property (for married couples in community property states - check state law)

Tenants in Common (if one holder dies, his/her percentage interest passes to estate)

For Tenants in Common only, please enter percentages:

Holder 1: % Holder 2: %


Account Holder Joint Account Holder (if applicable)First Name First Name

Last Name Last Name

Middle Initial Suffix Middle Initial Suffix

Home Street Address (n o P.O. boxes or "in care of" addresses allowed) Home Street Address (if different from other account holder)

City City

State/Province State/Province

Count ry Count ry

Zip/Postal Code Zip/Postal Code

Phone No. (with area code) Phone No. (with area code)

Second Phone No. (optional) Second Phone No. (optional)

Fax No. (with area code) Fax No. (with area code)

E-Mail Address for Account Correspondence

Mailing Address (if different from above). P.O. boxes are allowed.

Street Address


City State/Province

Count ry Zip/Postal Code


Account Holder Joint Account Holder (if applicable)Date of Birth (mm/dd/yyyy) Date of Birth (mm/dd/yyyy)

Mother 's Maiden Name Mother's Maiden Name

Marital Status

Single

Married

Divorced

Widowed

Number of Dependents

0

1

2

3

4

5 +

Marital Status

Single

Married

Divorced

Widowed

Number of Dependants

0

1

2

3

4

5 +

Country of Cit izenship Country of Cit izenship

Are you a U.S. Permanent Resident (Green Card Holder)?

Yes No

Are you a U.S. Permanent Resident (Green Card Holder)?

Yes No>

If you are a U.S. citizen, a U.S. resident or have a U.S Social Security

Number, you must provide a Social Security Number:

If you are a U.S. citizen, a U.S. resident or have a U.S Social Security

Number, you must provide a Social Security Number:

If you are n o t a U.S. resident, please check which form of

identification you will provide to Interactive Brokers (you must

provide a copy of o n e of the following):

Driver's License

Alien Identification Card

Passpor t

National Identity Card

Country of Issuance:

Number:

If you are n o t a U.S. resident, please check which form of

identification you will provide to Interactive Brokers (you must

provide a copy of o n e of the following):

Driver's License

Alien Identification Card

Passpor t

National Identity Card

Country of Issuance:

Number:

Account Holder Joint Account Holder (if applicable)Employment Type (choose one)

Employed by Another

Self-Employed

Retired

Unemployed

Employment Type (choose one)

Employed by Another

Self-Employed

Retired

Unemployed


Occupat ion Occupat ion

Name of Employer Name of Employer

Nature of Employer's Business/Activities Nature of Employer's Business/Activities

Employer's AddressStreet

Employer's AddressStreet

City City

State/Province State/Province

Count ry Count ry

Zip/Postal Code Zip/Postal Code

Employer's Phone No. (with area code) Employer's Phone No. (with area code)


Please pick a security question from each of the three l ists below and provide the answers to those questions so that we may use i t in the future

for verification purposes:

What is the name of your hometown newspaper?

What is the name of the High School you graduated from?

What is the middle name of your eldest child?

What city were you born in?

What was the name of your first pet?

What is the street number of the house you grew up in?

What is your favorite cartoon character?

What is your favorite color?

What is your wife's middle name?

What is the street name your work office is located on?

Answer:

What is the name of your favorite sports team?

What is the last name of your favorite politician?

In what city were you married?

In what city or town was your first job?

What is your favorite place to shop?

Who was your childhood hero?

What was your High School mascot?

What was the name of a best fr iend during childhood?

What was the f irst concert you attended?

What is your grandmother 's f i rs t name?

Answer:

What is name of first boyfriend/girlfriend?

What is the name of a school you attended?

What is your favorite vegetable?

What is your shoe size (use decimals, if necessary)?

Who was your first grade teacher?

Where did you go on your honeymoon?

What was your father 's occupation?

What was your childhood nickname?

What was the model of your first car?

Where is your favorite vacation spot?

Answer:

Additional Sources of Income

Source of Income Annual

percentage from this source

Description of this source


Employment Income

Consult ing

Disability

Inheri tance

Interest

Other

Real Estate

Rental

Severance

Spouse

Trading &

Inves tments

Unemployment

Account Financial Background (answer for both account holders if this is a joint account)Investment Objectives and Intended Purpose of Trading (check all that apply)

Preservation of Capital Income Growth Trading Profits Speculation Hedging

Investment Experience (please fill in all blanks)

Years Trading Experience Number of Trades Per Year

Knowledge Level

(check one for each product type)

Stocks Extensive Good Limited

Bonds Extensive Good Limited

Opt ions Extensive Good Limited

Futures Extensive Good Limited

Forex Extensive Good Limited

Estimated Net Worth (in base currency)

(exclude value of residence)

Estimated Liquid Net Worth (in base currency)

(exclude residence)


Annual Net Income (in base currency) List other sources of funds aside from employment (if any) (this is

required information if you are unemployed)


Regulatory InformationWill this account be used to trade and/or invest on behalf of any other person(s) besides the named account holder?

Yes No

Will all funds in this account belong to the named account holder ONLY and NOT from any third-party individual or entity, in any capacity?

Yes No

Have you received authorization from your employer 's compliance department to open this account with IB?

IB may require proof of this authorization from your employer before processing your account.

Yes No

Are duplicate s tatements and confirmations required to be sent to your f i rm's compliance department?

IB may require proof from your employer indicating whether or not duplicate statements and confirmation are required before processing your

account .

Yes No

Is the account holder or any immediate family member who resides in

the same household, registered as a broker-dealer or an employee,

director or owner of a securit ies or commodities brokerage firm?

Yes No

If Yes:

Person's Name:

Relation to Account Holder(s):

Brokerage Firm Name:

Brokerage Firm Address:

Brokerage Firm Phone No.:

NOTE: If the account holder or any immediate family member who

resides in the same household is employed by a brokerage firm, the

compliance officer of that f irm must authorize this account by

sending an e-mail to Interactive Brokers Processing Department at

[email protected].

The compliance officer should note "Employee Account

Authorizat ion" in the subject heading of the e-mail . The e-mail must

state the following:

"Interactive Brokers is authorized to establish and maintain an

account for [Fill in Customer name]. [Fill in Name of Brokerage Firm] agrees to accept copies of daily confirmations and monthly

s ta tements by e-mai l to [Fill in E-mail Address]."

Is the account holder a member of an exchange or a regulatory or a

self-regulatory organization, or an associated person, affi l iated person

or employee of an exchange member?

Yes No

If yes, list firm and exchanges:

Has the account holder ever been the subject of, or initiated, l i t igation,

arbi trat ion or any other type of dispute or set t lement procedure with

another broker or dealer?

Yes No

If yes, please provide details, including the disposition of the litigation,

arbi trat ion or procedure:

Has the account holder ever been the subject of an investigation or

proceeding by any commodities or securit ies exchange or regulatory

authori ty or self-regulatory authori ty?

Yes No

If yes, please provide details, including the disposition of the

investigation or proceeding:

Is the account holder: i) a director; ii) a 10% shareholder; or iii) a policy-

making officer of any publicly traded company?

Yes No

If yes, enter the stock symbol(s) of the company(ies), separated by

commas :

Does the account holder control the trading in, or have a beneficial

ownership interest in, any other IB accounts?

Yes No

If yes, enter the Usernames of these accounts, separated by commas:

Accredited Investor Qualification (answer for both account holders if this is a joint account)Please answer at least one of the following questions in order to qualify for accredited investor offers.

Is your individual gross income in excess of USD 200,000 in each of the two most recent calendar years and do you have a

reasonable expectation of reaching the same income level in the current year?

(If your answer to the above question is yes, you do not need to answer the below question. However, if your answer to the above

question is no and you are married, you may answer below question.)

Note: You may answer the following question if you are married and your individual gross income is less than $200,000.

Yes

N o


Is your joint gross income with your spouse in excess of USD 300,000 in each of the two most recent calendar years and do you

have a reasonable expectation of reaching the same income level in the current year?

Yes

N o

I confirm under penalties of law that the foregoing answers are true and correct. I agree that if I am granted access to IB's Private

Placement Site, I shall keep confidential and not provide to any other person or entity, any information made available to me on

the IB Private Placement Site.

Yes

N o


II. Account Configuration

Choose a Base Currency for the Account:

United States Dollar USD

Australian Dollar AUD

British Pound GBP

Canadian Dollar CAD

Euro EUR

Hong Kong Dollar HKD

Japanese Yen JPY

Mexican Peso MXN

Swedish Krona SEK

New Zealand Dollar NZD

Swiss Frank CHF

Choose Cash or Margin Account

Cash

Must have enough cash in the account to cover the cost of the transaction plus commissions. No shorting of stock or futures day trading benefits (50% of regular margin requirement during the day on certain exchanges). Limited purchase and sale of options and trading is only al lowed for products denominated in the base currency of the account. Cash from the sale of stocks, options and futures becomes available when the transaction settles (e.g. US stock - 3 days, German stocks- 2 days, US options- 1 day).

Portfolio Margin

Same as a Reg T margin account (see below) except that margin requirements generally will be lower in a portfolio margin account because margin requirements will be calculated based on a risk based calculation methodology. Customers must maintain account equity of $100,000 in order to utilize a portfolio margin account. Otherwise Reg T margin requirements will apply.

Reg T Margin

Borrowing to support equities trading, shorting of equities, full options trading, full futures/futures options trading, currency conversions, and securi t ies/commodit ies t rading in mult iple currency denominations available. Margin requirements are computed real- t ime under a rules-based calculat ion methodology, with immediate posi t ion l iquidation if the minimum maintenance margin requirement is not met. Purchase and sale proceeds are immediately recognized.


Account Trading PermissionsPlease check all the p roduc t s t h a t you may wan t t o t r ade in your account . You a n d your advisor a lso will have t h e ability t o a d d addit ional p roduc t s af ter your account h a s been opened .

StocksFixed

IncomeWarrants Opt ions Futures

Futures

Opt ions

Single

Stock

Futures

CFD

FOREX

(Foreign

Exchange)

Global

Austral ia

Austr ia

Belgium

Canada

France

Germany

Hong Kong

Italy

J a p a n

Korea

Mexico

Singapore

Spain

Sweden

Switzerland

The Nether lands

United Kingdom

United States

United States

(Algorithmic Execution

Venue)

United States

(Floor Based Exchanges)

Please no t e t h a t SEC restr ict ions prevent U.S. legal res idents f r o m t rading OPTIONS o n s tock a n d indexes in N o n - U.S. countr ies .Single Stock Futures t rading requires a Reg T o r Portfolio Margin Account Type. Data Protection Notice: By applying for a n account with Interactive Brokers (U.K.) Limited, you a re consent ing t o IB UK, i t s affiliates, i t s connected companies , a n d thei r respective delegates t ransmit t ing, using, s tor ing a n d processing any pe r sona l informat ion t h a t you have provided outs ide t h e European Economic Area (EEA) a n d th roughou t t h e world. You have t h e r ight t o r eques t t h e personal informat ion t h a t we ho ld abou t you.


III.a ADVISOR FEE ARRANGEMENT Choose o n e of the following advisor fee billing methods:

No Fee

No fees are charged by your advisor for managing your account.

Direct Billing

You advisor bills you directly for fees and you pay your advisor directly (IB does not deduct the fees from your account).

Automatic Billing

Interactive Brokers calculates Advisor Fees and deducts these fees from your client account automatically and sends them to your advisor as

specified.

Check all that apply and fi l l- in the required amounts:

Annualized Percentage of Net Liquidation Value applied on a daily basis (enter annual percentage) %

Annualized Flat Fee applied on a daily basis, apportioned by 252 days (enter annual amount)

Percentage of Annual Positive P&L applied as of 12/31(enter annual percentage) %

Percentage of Quarterly Positive P&L applied as of March, June, Sept., Dec. (enter quarterly percentage) %

Per-Trade Unit Advisory Fee. If this method is chosen, you must complete the fee schedule below.

Monthly/Quarterly Invoicing

Your advisor calculates the Advisor Wrap Fees and removes the fees from your account up to a l imit of p e r m o n t h /

o r per quar ter .

III.b FEE PER TRADE UNIT

Please acknowledge the change in fees charged by your advisor and send back to IB at the address above.

Any asset class/currency for which a fee per trade unit is not specified will use the IB standard commission schedule as i ts default , in which case

the advisor will not make any fee over and above the fee IB charges the advisor 's client to execute and clear trades. A fee per trade unit may be

entered as an absolute markup over and above IB's standard commission, as a % of IB's standard commission, or as an absolute amount (IB's

s tandard commission wil l be subtracted from this amount) .

Absolute markup is entered in the currency of the asset class. The unit column indicates if the absolute markup gets applied to shares, contracts,

or % of notional value and up to three decimal places may be entered. As an example, when you enter "1" Absolute Markup on the USD option

line, and if one IB Smart option contract were executed, the client would be charged $2 ($1 is the standard IB commission, and $1 is specified as

an absolute markup).

The % markup is entered as a percentage without the decimal point. As an example, if you enter "100" percent markup on the EUR stock line, if IB

charges 10 EUR for a trade the client will be charged a total of 20 EUR for the trade (10 EUR for IB with a 100% match).

The absolute amount requires the input of a minimum for the trade, and then 1 to 3 fees (Fee#1, Fee#2, Fee#3) that are specified by volume

breaks (Vol#1, Vol#2). The unit column indicates if the absolute markup gets applied to shares, contracts, or % of notional value and up to three

decimal places may be entered. As an example, if you wanted to charge .4% for up to 500 shares, .3% for up to 1,000 shares, and .2% above 1,000

shares with a minimum of 10 GBP (minimums are always entered amounts) for GBP stocks, you would enter:

Minimum Fee #1 Vol #1 Fee #2 Vol #2 Fee #3

1 0 0 .1 5 0 0 0 .3 1 ,000 0 .2

IB standard UK fees of .1%, and stamp tax of .5% would be subtracted from the absolute fee specified above. Only 1 fee type (i.e. absolute markup,

% markup, or absolute amount) may be entered for each asset class/currency. I t should be noted that in no case may you enter more than 7 t imes

IB's standard commission.

Advisor Fee Cap

IB caps the amount of advisor fees earned in any 360 day period to 25% of the client 's average equity over this period, with additional cap limits

at 30 day increments in-between (i.e. 7.2% over the last 30 days, 17.7% over the last 180 days). When any fee cap is exceeded for a client, the

advisor will not receive any client fees until the fee cap is no longer exceeded. IB will continue to charge its standard commissions when the fee

cap limit is exceeded. Please be aware that advisors are solely responsible for ensuring that the fees they charge are reasonable and in accordance

with regulatory requirements. For a complete fee cap, visit ht tp : / /www. in te rac t ivebrokers .com/en/accounts /advisors /advisorWrapFees.php?ib_entity=llc.

http://www.interactivebrokers.com/en/accounts/advisors/advisorWrapFees.php?ib_entity=llc

http://www.interactivebrokers.com/en/accounts/advisors/advisorWrapFees.php?ib_entity=llc


Currency Unit Minimum FeeAbsolute

Markup% Markup

Absolute Amount

Fee #1 Vol #1 Fee #2 Vol #2 Fee #3

Pass

t h r o u g h

Fees*

Stocks

USD Shares

EUR %

CHF %

GBP %

CAD Shares

SEK %

JPY %

HKD %

EUR

EUR

EUR

AUD %

MXN %

Warrants

EUR %

HKD %

Stock & Index Options

USD Contrac ts



Markup% Markup

Absolute Amount


Pass

t h r o u g h

Fees*

EUR Contrac ts

HKD Contrac ts

CHF Contrac ts

GBP Contrac ts

CAD Contrac ts

JPY Contrac ts

KRW %

SEK Contrac ts

AUD Contrac ts

Futures, Futures Options, SSFs

USD Contrac ts

AUD Contrac ts

EUR Contrac ts

HKD Contrac ts

CHF Contrac ts

GBP Contrac ts

CAD Contrac ts

JPY Contrac ts

KRW Contrac ts



Markup% Markup

Absolute Amount


Pass

t h r o u g h

Fees*

USD

USD

USD

USD

USD

SEK Contrac ts

MXN Contrac ts

Forex

AUD %

CAD %

CHF %

EUR %

GBP %

HKD %

JPY %

USD %

NZD

NOK

Bonds



Markup% Markup

Absolute Amount


Pass

t h r o u g h

Fees*

USD$1000 Face

Value

*Pass through exchange and regulatory fees applies to Absolute Amount only.

Signature of Account HolderSecond Signature (required only for joint and other accountswhere multiple signatures needed)

Date Date


IV. AGREEMENTS AND ACKNOWLEDGEMENTS

Notice of Execution and Clearing Agreement

1 . This Notice appl ies only t o pe r sons who a re par t ies t o t h e Cus tomer Agreement Among Customer , Interactive Brokers (U.K.) Limited a n d

Interactive Brokers LLC ("IB UK Cus tomer Agreement") a n d / o r pe r sons who have opened a n account ("IB UK Account") with Interactive

Brokers (U.K.) Limited ("IB UK Customers").

2 . Interactive Brokers (U.K.) Limited ("IB UK") h a s been au thor i sed by t h e Financial Services Authori ty ("FSA") t o conduc t inves tment bus iness i n

t h e U.K. a n d Europe a n d is regulated in t h e U.K. by t h e FSA.

3 . Interactive Brokers LLC ("IB LLC") is a U.S.- located affiliate o f IB UK. IB LLC is regis tered a s a b r o k e r - dealer with t h e U.S. Securities a n d

Exchange Commiss ion a n d a s a fu tu res commiss ion merchan t with t h e U.S. Commodi ty Futures Trading Commission.

4 . IB UK a n d IB LLC are par t ies t o a n Execution a n d Clearing Agreement p u r s u a n t t o which IB LLC pe r fo rms certain services with respec t t o IB

UK Customers , IB UK Accounts a n d IB UK Transact ions ("Execution a n d Clearing Agreement"). The Execution a n d Clearing Agreement p e r m i t s

IB LLC t o satisfy i t s obligations the reunder by us ing t h e services o f o the r affiliates o f IB UK ("IB UK Affiliates") o r unaffi l iated th i rd part ies . By

executing a n IB UK Cus tomer Agreement, a n IB UK Cus tomer en te r s in to a contractual relat ionship with IB UK and , for t h e l imited p u r p o s e s

s t a t ed therein, wi th IB LLC. The relat ionships between IB UK Cus tomers a n d IB UK a n d between IB UK Cus tomers a n d IB LLC are n o t a l te red

by t h e Execution a n d Clearing Agreement .

5 . This Notice is in tended t o b e a general disclosure o f t h e relat ionship between IB UK a n d IB LLC, n o t a definitive enumera t ion of each a n d

every service t h a t may b e pe r fo rmed by IB LLC with respec t t o IB UK Customers , IB UK Accounts a n d /o r IB UK Transactions. Such services

may include t h e per formance of any o r all o f IB UK's responsibil i t ies u n d e r t h e t e r m s a n d condi t ions o f t h e IB UK Cus tomer Agreement ,

a l though noth ing in th i s Notice obligates IB LLC o r o the r IB UK Affiliates t o pe r fo rm such services. The relat ionship between IB UK a n d IB LLC

o r o the r IB UK Affiliates may change f r o m t ime t o t ime.

6 . IB UK generally shall b e responsible for t h e following: a . Obtaining a n d verifying new IB UK Cus tomer a n d IB UK Account informat ion a n d documenta t ion a n d opening a n d closing IB UK

Accounts.

b . Providing sof tware o r otherwise arranging for t h e t ransmiss ion th rough t h e IB sys tem of o rde r s (and modificat ions a n d cancellat ions

thereof) submi t t ed by IB UK Cus tomers for t h e specified securities, opt ions, fu tures , currencies a n d o the r inves tment p roduc t s t h a t IB UK

may m a k e available f r o m t ime t o t ime for IB UK Cus tomer t rading a n d arranging for t h e execution a n d /o r clearance o f such orders .

c. Accepting ins t ruct ions regarding voluntary corpora te act ions (e.g., t ende r o r exchange offers) f r o m IB UK Cus tomers a n d t ransmi t t ing

t h e m t o IB LLC for processing. Neither IB UK n o r IB LLC shall b e responsible for providing IB UK Cus tomers with not ice o f voluntary

corpora te act ions.

d . Determining t h e commiss ions a n d o the r fees charged t o IB UK Customers . Commiss ion a n d fee paymen t s owed by IB UK Cus tomers m a y

b e sha red a n d allocated between IB UK a n d IB LLC a s IB UK a n d IB LLC agree f r o m t ime t o t ime.

7 . IB UK generally shall b e responsible for t h e following: a . Accepting IB UK Cus tomer o rde r s (and modificat ions a n d cancellations thereof) a n d t ransmit t ing t h e m for execution o n var ious

exchanges th rough IB LLC, IB UK, ano the r Interactive Brokers Group affiliate o r a th i rd par ty in termediate broker . Pursuan t t o t h e IB UK

Cus tomer Agreement, IB UK a n d IB LLC reserve t h e r ight t o reject any IB UK Cus tomer o rde r t h a t may b e t r ansmi t t ed t o e i ther o f t h e m

for execution a n d /o r clearing.

b . In t h e case o f any IB UK Account for which IB UK h a s agreed t o provide clearing services for t h e Customer , act ing a s a self - clearing

broker for t h e Customer ' s o rde r s o r arranging for t h e clearing a n d se t t lement o f t h e Customer ' s executed t ransact ions by IB UK, IB LLC

ano the r IB UK Affiliate o r a th i rd party. IB UK Cus tomers t h a t ho ld IB UK accounts for which IB UK ac ts only a s a n executing broker a r e

requi red t o b e e i ther a s e l f - clearing exchange m e m b e r o r a client o f a n exchange clearing member . The exchange -executed t r ades o f

such IB UK Cus tomers a re t aken u p for clearing a n d se t t lement by t h e IB UK Customers ' respective clearing brokers .

c. Performing certain cashiering, client money a n d cus tody services for IB UK Customers , IB UK Accounts a n d IB UK Transactions. Such

services include, wi thout limitation: (1) accepting a n d holding all money submi t t ed t o f u n d IB UK Accounts (including, wi thout l imitation,

f u n d s submi t t ed for t h e p u r p o s e o f satisfying IB UK's initial a n d main tenance margin requi rements [collectively, "Margin Requirements"]);

(2) receiving, delivering a n d t ransferr ing securi t ies pu rchased a n d sold, bor rowed a n d loaned a n d receiving a n d dis tr ibut ing p a y m e n t

therefor; (3) holding in cus tody a n d safekeeping all securi t ies a n d paymen t s s o received (provided that , wi th respec t t o securities, s u c h

securi t ies a re delivered via t h e book ent ry sys tem of a clearing organizat ion acceptable t o IB UK); (4) paying a n d charging in teres t o n IB

UK Accounts; (5) receiving a n d dis tr ibut ing dividends a n d o the r distr ibutions; (6) processing securi t ies a s a resul t o f corpora te actions;

(7) t ransferr ing f u n d s t o Customers; a n d (8) a s s e t fo r th in t h e IB UK Cus tomer Agreement, effectuating t h e l iquidation of IB UK

Cus tomer posi t ions o r asse ts .

d . Extending credi t t o IB UK Customers , including complying with t h e Margin Requirements o f IB UK a n d any relevant regulatory, self -

regulatory o r governmental body; a n d effecting s tock loan a n d borrowing t ransact ions in accordance with applicable law.

e . Performing certain collection services with respec t t o IB UK Accounts, including t h e collection of all commiss ions a n d fees a n d o t h e r

monies o r a s se t s d u e f r o m IB UK Cus tomers u n d e r t h e t e r m s of t h e IB UK Cus tomer Agreement .

f. Performing certain b a c k -office a n d record keeping a n d repor t ing funct ions with respec t t o IB UK Accounts, including t h e prepara t ion o f

confi rmat ions (contract notes) a n d account s t a t emen t s for IB UK Transactions, dis t r ibut ing such confi rmat ions a n d account s t a t e m e n t s

directly t o IB UK Customers , maintaining books a n d records o f all IB UK Transactions, a n d repor t ing such informat ion a s may b e

requi red by relevant regulatory o r s e l f -regulatory organizat ions o r applicable law.


g. Performing technical services re la ted t o t h e IB Trader Workstation, t h e IB System, o r cer tain compu te r hardware o r sof tware re la ted

there to .

8 . IB UK requires IB UK Cus tomers t o remi t all f u n d s re la ted t o thei r IB UK Transact ions o r t o thei r IB UK Accounts, o r otherwise t e n d e r e d

p u r s u a n t t o t h e IB UK Cus tomer Agreement, either: (a) directly t o IB LLC o r (b) t o a des ignated financial inst i tut ion with which IB LLC

mainta ins a cus tomer account . Funds mainta ined by IB LLC are main ta ined in cus tomer accounts t h a t a re he ld in t h e n a m e of IB LLC a n d a r e

located outs ide o f t h e U.K.

9 . IB UK a n d IB LLC sha re responsibil i ty for t h e provision of cer tain por t ions o f t h e IB UK website a n d for t h e provision of cus tomer service

facilities. IB UK h a s ul t imate responsibil i ty for responding t o cus tomer complaints regarding any IB UK Transact ion o r any IB UK Account, b u t

IB LLC is au thor ized t o accept, p rocess a n d r e s p o n d t o such complaints .

10 . IB UK a n d IB LLC are au thor ized t o disclose informat ion o r documenta t ion relating t o IB UK Cus tomers o r IB UK Accounts a n d IB UK

Transact ions t o each o the r a n d t o thei r respective affiliates. IB UK, IB LLC a n d thei r affiliates a re au thor ized t o use, s tore , o r p rocess pe r sona l

informat ion provided by IB UK cus tomers (or thei r employees, agents o r representat ives) o r otherwise acquired f r o m t h e m a s s e t fo r th in t h e

IB UK Cus tomer Agreement .

11 . IB LLC does n o t control , aud i t o r supervise t h e activities o f IB UK o r i t s regis tered representat ives, n o r does i t verify any informat ion

provided by IB UK regarding any IB UK Customers , orders , Transactions, o r Accounts.

Interactive Brokers Customer Agreement

The Interactive Brokers Customer Agreement governs the relat ionship between Customer and Interactive Brokers and sets forth the terms and

conditions governing Customer's IB account. The Customer Agreement has been provided separately to Customer as part of a package of

documents labeled: Interactive Brokers U.K. Agreements and Disclosure Documents.

Customer must read the IB Customer Agreement in i ts entirety. Below are certain essential terms of the Agreement that Customer must

under s t and : 1 . Cus tomer is obligated t o accept all executions t h a t a re consis tent with t h e ins t ruct ions conta ined in Customer ' s o rders .

2 . IB's sys tems a re c o m p u t e r -based a n d any c o m p u t e r -based sys tem may fail a t one t ime o r another , o f ten by reason of forces beyond h u m a n

control . IB is n o t liable for sys tem o r ne twork failures, a n d Cus tomers who require t h e h ighest level o f reliability agree t o mainta in a l te rna te

t rading facilities.

3 . Cus tomers a re responsible for protect ing t h e secrecy of thei r u se rnames a n d passwords , a n d they will b e responsible for t r ades en te red b y

th i rd par t ies us ing thei r u se rnames a n d passwords .

4 . In t h e event t r ades a re conf i rmed by IB a s executed, a n d they a re la ter cancelled by a n exchange, t rading ne twork o r regulatory authori ty, t h e

IB conf i rmed t r ade will a lso b e d e e m e d cancelled.

5 . IB submi t s all o rde r s for execution in t h e o rde r in which i t receives them, including all o rde r s submi t t ed by IB o r i t s affiliates.

6 . IB is n o t responsible for t h e execution of o rde r s a t l imit pr ices if t h e order ' s t ransmiss ion is delayed o r is otherwise affected by d a t a

communicat ion failure.

7 . IB does n o t provide trading, inves tment o r tax advice, a n d Cus tomers shall n o t rely o n s t a t emen t s by IB employees which p u r p o r t t o provide

such advice.

8 . IB does n o t m a k e margin calls, a n d IB mainta ins t h e r ight t o immediately close o u t posi t ions, wi thout not ice o r liability, in any account t h a t

does n o t have sufficient f u n d s t o m e e t t h e margin requi rements imposed by IB o r regulatory authori t ies .

9 . IB cus tomers a re responsible t o IB for t h e cont inued accuracy a n d upda t ing of all informat ion provided t o IB.

Commodity Futures Trading Commission Risk Disclosure Statement

Interactive Brokers provides you the following disclosure document in the event that you and your advisor choose to trade futures or options on

futures in your Interactive Brokers account. Please read and sign the following document.

Risk Disclosure Statement for Futures and OptionsThis brief statement does not disclose all of the risks and other significant aspects of trading in futures and options. In l ight of the risks, you

should undertake such transactions only if you understand the nature of the contracts (and contractual relat ionships) into which you are

entering and the extent of your exposure to r isk. Trading in futures and options is not suitable for many members of the public. You should

carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other relevant

circumstances.

Futures1 . Effect o f "Leverage" or "Gearing"

Transact ions in fu tu res carry a h igh degree o f risk. The a m o u n t o f initial marg in is smal l relative t o t h e value o f t h e fu tu res cont rac t s o t h a t

t ransact ions a re ` leveraged ' o r `geared ' . A relatively smal l marke t movemen t will have a proport ionately larger impac t o n t h e f u n d s you have

depos i ted o r will have t o deposi t : th i s may work against you a s well a s for you. You may sus ta in a to ta l loss o f initial marg in f u n d s a n d a n y

addit ional f u n d s depos i ted with t h e f i rm t o mainta in your posit ion. If t h e marke t moves against your posi t ion o r marke t levels a re increased,

you may b e called u p o n t o pay substant ia l addi t ional f u n d s o n sho r t not ice t o mainta in your posit ion. If you fail t o comply with a r eques t f o r

addi t ional f u n d s within t h e t ime prescribed, your posi t ion may b e l iquidated a t a loss a n d you will b e liable for any resul t ing deficit.

2 . R i s k -reducing orders or strategies

The placing of cer tain o rde r s (e.g. ` s t o p -loss ' orders , where pe rmi t t ed u n d e r local law, o r ` s t o p -limit ' orders) which a re in tended t o l imit

losses t o cer tain a m o u n t may n o t b e effective because marke t condi t ions may m a k e i t impossible t o execute such orders . Strategies us ing

combinat ions o f posi t ions, such a s ` s p r e a d ' a n d ` s t r add le ' posi t ions may b e a s r isky a s taking s imple ` long ' o r ` s h o r t ' posi t ions.


Options

3 . Variable degree o f r isk

Transact ions in op t ions carry a h igh degree o f risk. Purchasers a n d sellers o f op t ions shou ld familiarize themselves with t h e type o f op t i on

(i.e. p u t o r call) which they contempla te t rading a n d t h e associated risks. You shou ld calculate t h e extent t o which t h e value o f t h e op t ions

m u s t increase for your posi t ion t o become profitable, taking in to account t h e p r e m i u m a n d all t ransact ion costs .

The purchase r o f op t ions may offset o r exercise t h e op t ions o r allow t h e op t ions t o expire. The exercise o f a n op t ion resul t s e i ther in a c a s h

se t t lement o r in t h e purchase r acquiring o r delivering t h e underlying interest . If t h e op t ion is o n a future , t h e purchase r will acquire a f u t u r e s

posi t ion with associated liabilities for margin (see t h e sect ion o n Futures above). If t h e pu rchased op t ions expire worthless, you will suffer a

to ta l loss o f your inves tment which will consis t o f t h e op t ion p r e m i u m p lus t ransact ion costs . If you a re contemplat ing purchas ing d e e p -

o u t -o f -t h e -money opt ions, you shou ld b e aware t h a t t h e chance o f such op t ions becoming profi table ordinarily is remote .

Selling (`writ ing' o r `grant ing ' ) a n op t ion generally entai ls considerably greater r isk t h a n purchas ing opt ions. Although t h e p r e m i u m received

by t h e seller is fixed, t h e seller may sus ta in a loss well in excess o f t h a t amount . The seller will b e liable for addit ional margin t o mainta in t h e

posi t ion if t h e marke t moves unfavorably. The seller will a lso b e exposed t o t h e r isk o f t h e purchase r exercising t h e op t ion a n d t h e seller will

b e obligated t o e i ther set t le t h e op t ion in cash o r t o acquire o r deliver t h e underlying interest . If t h e op t ion is o n a future , t h e seller will

acquire a posi t ion in a fu tu re with associated liabilities for margin (see t h e sect ion o n Futures above). If t h e op t ion is `covered ' by t h e sel ler

holding a corresponding posi t ion in t h e underlying in teres t o r a fu tu re o r ano the r opt ion, t h e r isk may b e reduced. If t h e op t ion is n o t

covered, t h e r isk o f loss can b e unlimited.

Certain exchanges in s o m e jurisdict ions pe rmi t defer red paymen t o f t h e op t ion premium, exposing t h e purchase r t o liability for marg in

paymen t s n o t exceeding t h e a m o u n t o f t h e p remium. The purchase r is still subjec t t o t h e r isk o f losing t h e p r e m i u m a n d t ransact ion cos ts .

When t h e op t ion is exercised expires, t h e purchase r is responsible for any unpa id p r e m i u m outs tanding a t t h a t t ime.

Additional r isks c o m m o n to futures and options.

4 . Terms and condit ions o f contracts

You shou ld a sk t h e f i rm with which you deal abou t t h e t e r m s a n d condi t ions o f t h e specific fu tu res o r op t ions which you a re t rading a n d

associated obligations (e.g. t h e c i rcumstances u n d e r which you may become obligated t o m a k e o r t ake delivery o f t h e underlying in teres t o f a

fu tu res cont rac t and , in respec t o f opt ions, expirat ion da t e s a n d restr ict ions o n t h e t ime for exercise). Under cer tain c i rcumstances t h e

specifications o f ou ts tanding cont rac ts (including t h e exercise price o f a n option) may b e modif ied by t h e exchange o r clearing house t o

reflect changes in t h e underlying interest .

5 . Suspension or restriction o f trading and pricing relationships

Market condi t ions (e.g. illiquidity) a n d / o r t h e opera t ion of t h e ru les o f cer tain marke t s (e.g. t h e suspens ion of t rading in any cont rac t o r

cont rac t m o n t h because o f price l imits o r "circuit breakers") may increase t h e r isk o f loss by making i t difficult o r impossible t o effect

t ransact ions o r l iqu ida te /offset posi t ions. If you have so ld opt ions, th i s may increase t h e r isk o f loss.

Further, normal pricing relat ionships between t h e underlying in teres t a n d t h e future , a n d t h e underlying in teres t a n d t h e op t ion may n o t

exist. This can occur when, for example, t h e fu tu res cont rac t underlying t h e op t ion is subjec t t o price l imits while t h e op t ion is not . T h e

absence o f a n underlying reference price may m a k e i t difficult t o judge "fair" value.

6 . Deposited cash and property

You shou ld familiarize yourself with t h e protec t ions accorded money o r o the r p roper ty you depos i t fo r domest ic a n d foreign t ransact ions ,

particularly in t h e event o f a f i rm insolvency o r bankruptcy. The extent t o which you may recover your money o r p roper ty may b e governed

by specific legislation o r local rules. In s o m e jurisdictions, p roper ty which h a d been specifically identifiable a s your own will b e p r o -ra t ed i n

t h e s a m e m a n n e r a s cash for pu rpose s o r dis t r ibut ion in t h e event o f a shortfal l .

7 . Commission and other charges

Before you begin t o t rade, you shou ld obta in a clear explanat ion of all commission, fees a n d o the r charges for which you will b e liable. These

charges will affect your n e t prof i t (if any) o r increase your loss.

8 . Transactions in other jurisdictions

Transact ions o n marke t s in o the r jurisdictions, including marke t s formally l inked t o a domest ic market , may expose you t o addit ional r isk.

Such marke t s may b e subjec t t o regulat ion which may offer different o r d iminished investor protect ion. Before you t r ade you shou ld inquire

abou t any ru les relevant t o your part icular t ransact ions. Your local regulatory author i ty will b e unable t o compel t h e enforcement o f t h e ru l e s

o f regulatory authori t ies o r marke t s in o the r jurisdict ions where your t ransact ions have been effected. You shou ld a sk t h e f i rm with which

you deal fo r detai ls abou t t h e types o f r edress available in b o t h your h o m e jurisdict ion a n d o the r relevant jurisdict ions before you s t a r t t o

t rade .

9 . Currency r isks

The prof i t o r loss in t ransact ions in foreign cu r r ency -denomina ted cont rac ts (whether they a re t r aded in your own o r ano the r jurisdiction)

will b e affected by f luctuat ions in currency ra tes where the re is a need t o convert f r o m t h e currency denominat ion of t h e cont rac t t o a n o t h e r

currency.

10 . Trading facilities

Most o p e n -outcry a n d electronic t rading facilities a re s u p p o r t e d by c o m p u t e r -based componen t sys tems for t h e o r d e r -routing, execution,

matching, registrat ion o r clearing of t rades . As with all facilities a n d sys tems, they a re vulnerable t o t emporary d is rupt ion o r failure. Your


ability t o recover cer tain losses may b e subjec t t o l imits o n liability imposed by t h e sys tem provider, t h e market , t h e clearing house a n d /o r

m e m b e r f irms. Such l imits may vary: you shou ld a sk t h e f i rm with which you deal fo r detai ls in th i s respect .

11 . Electronic trading

Trading o n a n electronic t rading sys tem may differ n o t only f r o m t rading in a n o p e n -outcry marke t b u t a lso f r o m t rading o n o the r electronic

t rading sys tems. If you under take t ransact ions o n a n electronic t rading system, you will b e exposed t o r isks associated with t h e s y s t e m

including t h e failure o f hardware a n d software. The resul t o f any sys tem failure may b e t h a t your o rde r is e i ther n o t executed according t o

your ins t ruct ions o r is n o t executed a t all.

12 . O f f -exchange transactions

In s o m e jurisdictions, a n d only t h e n in res t r ic ted circumstances, f i rms a re pe rmi t t ed t o effect o f f - exchange t ransact ions. The f i rm wi th

which you deal may b e acting a s your counterpar ty t o t h e t ransact ion. It may b e difficult o r impossible t o l iquidate a n existing posit ion, t o

a s sess t h e value, t o de te rmine a fair pr ice o r t o a s sess t h e exposure t o risk. For these reasons , these t ransact ions may involve increased r isks.

O f f -exchange t ransact ions may b e less regulated o r subjec t t o a separa te regulatory regime. Before you under take such t ransact ions, y o u

shou ld familiarize yourself with applicable ru les a n d a t t endan t r isks.


I hereby acknowledge that I have received and understood this r isk disclosure statement:

Signature of Account Holder Signature of Joint Account Holder

Date Date

Arbitration Provisions

Any controversy or claim between IB UK or any of its respective directors, officers, shareholders, employees, associates or agents, on the one

hand, and Customer or, if applicable, Customer's directors, officers, shareholders, employees, associates, agents, or trustees, on the other hand,

arising out of, or relating to, this Agreement, any other Agreement between Customer and IB UK, any Transaction under such agreements, or any

of Customer's accounts, may be settled by arbitration, in accordance with the rules then prevailing of any one of the following arbitration

schemes, as Customer may elect and to the extent that the claim or controversy properly falls within the scope of the arbitration scheme:

(1) If the dispute involves a Transaction in a security, option to purchase or sell a security, or an option on a securities index that is traded on a

U.S. exchange, the arbitration schemes of: (a) The American Arbitration Association; (b) The New York Stock Exchange; (c) if the dispute involves

IB LLC, any exchange of which IB LLC is a member, or (d) the NASD;

(2) If the dispute involves a Transaction in a futures contract or an option on a futures contract that is traded on a U.S. exchange, any one of

three or more "qualified forums" provided by IB UK. A "qualified forum" is an organization whose procedures for conducting arbitration comply

with the requirements of CFTC Rules;

(3) In any other type of dispute, the arbitration schemes of: (a) The American Arbitration Association; (b) any exchange of which IB UK is a

member; or (c) a securities or futures association, as applicable; or

(4) In all cases, the FSA's Consumer Arbitration Scheme or any other arbitration forum that IB UK may suggest. Customer may obtain information

regarding the FSA's Consumer Arbitration Scheme by requesting such information via an e-mail addressed to the IB Customer Service

Department at [email protected], specifying "Attn: IB UK Compliance Director" in the subject heading.

Futures Trading Arbitration Agreement for Disputes Between Customer and Interactive Brokers LLC

If you trade stocks or stock options in your IB account, you will be covered by a mandatory arbitration agreement, which states that any

disputes regarding your account will be resolved through arbitration. The following optional arbitration agreement covers trading in futures or options on futures, in the event that you and your advisor choose to trade these investment products in your account. You are not required to

sign the Futures Trading Arbitration Agreement below, but if you do not sign it your account will be restricted to a one contract trading limit.

Futures Trading Arbitration Agreement: Any controversy or claim between Interactive Brokers LLC ("IB") and the undersigned ("Customer")

arising out of or relating to Customer's Account with IB, to transactions between IB and Customer, to the Customer Agreement with IB or any

other agreement between IB and Customer, or to the breach of any such transaction or agreement shall , except as provided below, be resolved by

arbitration before a forum chosen in accordance with the procedure set out below. If , by reason of any applicable statute, regulation, exchange

rule or otherwise, Customer's advance agreement to submit a controversy to arbitration would not be enforceable by IB, this provision shall not

permit Customer to enforce IB's advance agreement to submit to arbitrat ion. Any award rendered in any arbitrat ion conducted pursuant to this

agreement shall be final, binding and enforceable in accordance with the laws of the State of Connecticut and judgment may be entered on any

such award by any court having jurisdiction thereof.

At such time as Customer notifies IB that Customer intends to submit a claim to arbitration, or at such time as IB notifies Customer that IB

intends to submit a claim to arbitrat ion, Customer will have the opportunity to choose a forum from a l ist of three or more qualif ied forums

provided by IB. A "qualified forum" is an organization whose procedures for conducting arbitrations comply with the requirements of the

Commodity Futures Trading Commission ("CFTC") Rule 166.5.

As required by CFTC Rule 166.5, IB will pay any incremental fees which may be assessed by a qualified forum for provision of a mixed arbitration

panel, unless the arbitrators hearing the controversy determine that Customer has acted in bad faith in init iat ing or conducting the arbitration. A

"mixed arbitrat ion panel" is an arbitrat ion panel composed of one or more persons, a majori ty of whom are not members or associated with a

member of a contract market or employee thereof, and who are not otherwise associated with a contract market .

In connection with this Arbitration Agreement, IB is required to furnish to you the following statement, pursuant to Rule 166.5 of the CFTC:

THREE FORUMS EXIST FOR THE RESOLUTION OF COMMODITY DISPUTES: CIVIL COURT LITIGATION, REPARATIONS AT THE COMMODITY

FUTURES TRADING COMMISSION ("CFTC"), AND ARBITRATION CONDUCTED BY A SELF-REGULATORY OR OTHER PRIVATE ORGANIZATION.

THE CFTC RECOGNIZES THAT THE OPPORTUNITY TO SETTLE DISPUTES BY ARBITRATION MAY IN SOME CASES PROVIDE MANY BENEFITS TO

CUSTOMERS, INCLUDING THE ABILITY TO OBTAIN AN EXPEDITIOUS AND FINAL RESOLUTION OF DISPUTES WITHOUT INCURRING SUBSTANTIAL

COSTS. THE CFTC REQUIRES, HOWEVER, THAT EACH CUSTOMER INDIVIDUALLY EXAMINE THE RELATIVE MERITS OF ARBITRATION AND THAT

YOUR CONSENT TO THIS ARBITRATION AGREEMENT BE VOLUNTARY.

BY SIGNING THIS AGREEMENT, YOU: (1) MAY BE WAIVING YOUR RIGHT TO SUE IN A COURT OF LAW; AND (2) ARE AGREEING TO BE BOUND BY

ARBITRATION OF ANY CLAIMS OR COUNTERCLAIMS WHICH YOU OR IB MAY SUBMIT TO ARBITRATION UNDER THIS AGREEMENT. YOU ARE

NOT, HOWEVER, WAIVING YOUR RIGHT TO ELECT INSTEAD TO PETITION THE CFTC TO INSTITUTE REPARATIONS PROCEEDINGS UNDER

SECTION 14 OF THE COMMODITY EXCHANGE ACT WITH RESPECT TO ANY DISPUTE WHICH MAY BE ARBITRATED PURSUANT TO THIS

AGREEMENT. IN THE EVENT A DISPUTE ARISES, YOU WILL BE NOTIFIED IF IB INTENDS TO SUBMIT THE DISPUTE TO ARBITRATION. IF YOU


BELIEVE A VIOLATION OF THE COMMODITY EXCHANGE ACT IS INVOLVED AND IF YOU PREFER TO REQUEST A SECTION 14 "REPARATIONS"

PROCEEDING BEFORE THE CFTC, YOU WILL HAVE 45 DAYS FROM THE DATE OF SUCH NOTICE IN WHICH TO MAKE THAT ELECTION. YOU NEED

NOT SIGN THIS AGREEMENT TO OPEN OR MAINTAIN AN ACCOUNT WITH IB. SEE 17 CFR 166.5.

I hereby acknowledge that I have read and understood and that I agree to the Futures Trading Arbitration Agreement:


Date Date

Discretionary Trading Authorization/Power of Attorney for Financial Advisor and Request to Send Trade Confirmations and Account Statements to Advisor

You are appointing a financial advisor ("Advisor"), chosen by you, to manage your Interactive Brokers account. The designated Advisor will be

able to execute trades, deposit and withdraw money to and from your account (all withdrawals must be in your name), request information,

receive account statements and confirmations, change certain of your customer information, and generally manage your Interactive Brokers

account as specified below:

General:The terms and conditions of this Authorization are in addition to the provisions of all other agreements between Interactive Brokers LLC,

Interactive Brokers (U.K.) Ltd. and Customer or Advisor. The agreements applicable to Customer's account(s) will govern all orders and

transactions, and Advisor is bound by all terms of those agreements.

Request to Deduct Advisory Fees if Applicable:

Customer requests and authorizes IB to deduct from Customer's IB account Advisory Fees and to disburse those Fees directly to the Advisor,

based on the fee arrangement that Customer has agreed upon with the Advisor ("Fees") and specified to IB. If the Advisor bills Customer directly

for Fees, or if Advisor does not charge Customer a Fee for Advisory services, Customer will specify that to IB.

Request to Send Confirmations and Statements to Advisor:

Customer requests that IB send all trade confirmations and account statements directly to Advisor and not to Customer directly. If Customer

changes this instruct ion and decides that confirmations and account s tatements should be sent direct ly to Customer, Customer agrees to contact

IB Customer Service at [email protected] or by calling the toll free Customer Service number listed on IB's website at

www.interactivebrokers.com or www.interactivebrokers.co.uk or www.interactivebrokers.ca. Upon Customer's request, IB will provide Customer

with a username and password so that Customer may view account statements online at the IB website.

Advisor's Authority:

This agreement authorizes Interactive Brokers to accept the instructions of the Advisor on behalf of the Customer. This authorization will be

applicable to all assets Customer holds in all Interactive Brokers accounts for which Advisor has been designated. Customer hereby authorizes

Advisor to inquire in, trade, buy, sell (including short sales), exchange, convert, tender, trade, or otherwise acquire or dispose of stocks, bonds,

options securit ies, futures, security futures, foreign exchange and any other investments, on margin or otherwise, for and at the risk of the

Customer. Customer understands that a commission wil l be charged to the account each t ime a trade is effected.

The Advisor is also permitted to arrange for the deposit of funds and assets to the Customer 's account(s) and to redeem or withdraw funds or

assets from the Customer's account (including the delivery of securit ies from the account), for the benefit of the Customer, regardless of the tax

consequences. The Advisor may initiate transfers (including inter-broker transfers), rollovers, Roth IRA conversions, IRA recharacterizations or

other transfers of assets between and among Customer accounts. Customer authorizes Interactive Brokers, acting on Advisor 's instructions, to

aggregate transaction orders for Customer's account(s) with orders for one or more other accounts over which Advisor has trading authority. The

Advisor is authorized to receive all information regarding the account(s) and to receive account statements, confirmations and tax information.

The Advisor is authorized to add, delete or change Customer or account information.

Interactive Brokers is authorized, but not required to, conduct further inquiry or seek authorization from the Customer or further clarif ication

from Advisor or Customer regarding any instruction from Advisor for Customer's account(s). Interactive Brokers reserves the right, in it sole

discretion, to refuse to honor particular instructions from Advisor, or to no longer honor instructions from Advisor. Customer and Advisor

acknowledge that all information provided by either of them on this form, or otherwise provided to Interactive Brokers in the application

process, is subject to verification, and Customer and Advisor authorize Interactive Brokers to verify all information through the use of credit

agencies or any other customary or reasonable means. Advisor will provide promptly any information reasonably requested by Interactive

Brokers concerning the management of the account(s) or compliance with this Authorization. This provision shall not be read to imply that

Interactive Brokers has any duty to supervise or monitor Advisor 's management of Customer's account(s) or compliance with applicable law.

Not a Substitute for Advisory Agreement:Customer and Advisor acknowledge that this Authorization merely authorizes Advisor to conduct certain activit ies with respect to Customer 's

account and is not a substi tute for an Advisory Agreement and is not designed to satisfy any regulatory obligations applicable to Advisor to enter

such agreement .

Role of Interactive Brokers - Disclaimer and Waiver of Liability:ADVISOR WAS SELECTED SOLELY BY CUSTOMER AND HAS NOT BEEN RECOMMENDED OR ENDORSED BY IB. ADVISOR IS NOT EMPLOYED BY OR REGISTERED OR ASSOCIATED WITH IB. IB WILL NOT INVESTIGATE OR JUDGE THE COMPETENCE OR INTEGRITY OF THE ADVISOR OR MONITOR THE ACTIONS OF THE ADVISOR. IB WILL NOT REVIEW THE ADVISOR'S RECOMMENDATIONS OR JUDGE THE SUITABILITY OF ANY TRADING OR INVESTMENT RECOMMENDATION OR DECISION OF ADVISOR OR CUSTOMER. IB DOES NOT PROVIDE ADVISORY SERVICES TO IB CUSTOMERS AND WILL NOT PROVIDE INVESTMENT OR TRADING OR TAX ADVICE REGARDING THE ACCOUNT.


Advisor's Compliance with State, Federal or Non-U.S. Law:Advisor will comply with all applicable state and federal securities laws and regulations, including the Investment Advisors Act of 1940, the Commodity Exchange Act and comparable state laws, and will comply with any applicable laws of Non-U.S. jurisdictions (hereinafter "Applicable Laws and Regulations"). Interactive Brokers assumes no responsibility for determining if Advisor is complying with Applicable Laws and Regulations regarding its provision of advisory services. CUSTOMER ACKNOWLEDGES THAT IB IS NOT RESPONSIBLE FOR DETERMINING WHETHER ADVISOR IS REQUIRED TO BE REGISTERED OR LICENSED OR WHETHER ADVISOR IS EXEMPT FROM REGISTRATION OR LICENSING. THIS IS SOLELY THE RESPONSIBILITY OF ADVISOR. IF CUSTOMER HAS QUESTIONS ABOUT THIS, CUSTOMER MUST CONTACT ADVISOR FOR FURTHER INFORMATION.

Termination:

Customer and/or Advisor agree(s) to notify Interactive Brokers immediately, in writing, if Customer or Advisor terminates, modifies or revokes

this Authorization. Advisor agrees to notify Interactive Brokers immediately, in writing, if Customer dies or becomes incapacitated such that this

Authorization would be rendered void. This Authorization shall remain in effect until Interactive Brokers receives written notice of its

termination and has had sufficient t ime to process such notice and terminate Advisor 's authori ty.

Indemnification of Interactive Brokers by Customer:

Customer agrees to indemnify and hold Interactive Brokers, and its affi l iates, and its and their successors and assigns, and its and their directors,

officers, employees and Advisors harmless from and against all claims, actions, costs and liabilit ies, including attorney's fees, arising out of or

relating to their reliance on this Authorization or their execution of any of Advisor 's instructions. Customer agrees that since Interactive Brokers

will not supervise or monitor Advisor's trading decisions or other activities, Customer will not attempt to hold Interactive Brokers liable for any

trade or decision or action of Advisor. Interactive Brokers 'srights under this paragraph are in addition to any other rights i t has under other

agreements with Customer and/or Advisor .

Indemnification of Interactive Brokers by Advisor:

Advisor agrees to indemnify and hold Interactive Brokers, and its affil iates, and its and their successors and assigns, and its and their directors,

officers, employees and Advisors harmless from and against all claims, actions, costs and liabilit ies, including attorney's fees, arising out of or

relating to any breach by Advisor of any provision of this Agreement or other Agreements with Interactive Brokers and/or Customer; the

performance or non-performance of the Advisor 's services; any trade or action of Advisor in Customer's account(s); and any dispute involving

Advisor and Customer. Interactive Brokers 's r ights under this paragraph are in addit ion to any other r ights i t has under other agreements with

Customer and/or Advisor .

Customer's Representations and Acknowledgments:A. Cus tomer h a s g ran ted t o Advisor t h e full discret ion t o direct t h e t rading in t h e accoun t(s) o n Customer ' s behalf a n d Cus tomer will n o t have

access t o IB's electronic sys tems for placing o rde r s for t h e account . Only t h e Advisor will b e able t o u s e t h e IB Trader Workstat ion t o c o n d u c t

t rading in t h e account .

B. If Cus tomer te rmina tes t h e relat ionship with Advisor o r for any o the r r eason wishes t o te rmina te Advisor 's access t o t h e accoun t (s), o r i f

Cus tomer wishes t o direct t h e t rading in Customer ' s account , o r if Cus tomer wishes t o u s e advisory services o f ano the r Advisor, Cus tomer

will contac t IB immediately by email t o [email protected] o r by calling t h e toll f ree Cus tomer Service n u m b e r l is ted o n IB's websi te

a t www.interactivebrokers.com o r www.interactivebrokers.co.uk o r www.interactivebrokers.ca.

C. Because Cus tomer h a s ins t ruc ted IB t o s e n d all confi rmat ions a n d account s t a t emen t s directly t o Advisor, Cus tomer will rely o n Advisor f o r

informat ion regarding Customer ' s account . If Cus tomer h a s any ques t ions o r concerns regarding t h e account , Cus tomer will contac t IB

Cus tomer Service a t [email protected] o r by calling t h e toll f ree Cus tomer Service n u m b e r l is ted o n IB's website a t

www.interactivebrokers.com o r www.interactivebrokers.co.uk o r www.interactivebrokers.ca.

D. Depending o n t h e equity in Customer ' s account , deduct ion of Advisory Fees in a n IB margin account may cause t h e account t o incur marg in

interest . Furthermore, if deduct ion of Advisory Fees would cause t h e account t o have insufficient equity t o cover margin requi rements o r t o

satisfy any o the r obligation t o IB, IB may, a t i t s sole discretion: (1) deduc t t h e Fees a n d exercise any of i t s r ights a n d remedies u n d e r t h e IB

Cus tomer Agreement, including l iquidating posi t ions in t h e account wi thout pr ior not ice in o rde r t o satisfy margin requi rements o r

obligations; a n d /o r (2) decline t o deduc t t h e Fees, in which case Cus tomer will b e liable t o pay such Fees t o Advisor directly.

E. All claims, ques t ions o r d i spu tes regarding IB's provision of brokerage services o r regarding IB's execution of part icular t r ades m u s t b e

refer red t o IB. Advisor h a s n o author i ty t o resolve such claims o r d i spu tes o n IB's behalf .

F. ALL CLAIMS OR DISPUTES REGARDING ADVISOR's SERVICES OR ACTIONS (INCLUDING SPECIFIC CONDUCT, ADVICE,

RECOMMENDATIONS, OR TRADES PLACED BY ADVISOR OR FEES OWED) ARE SOLELY BETWEEN CUSTOMER AND ADVISOR. IB IS NOT

LIABLE FOR ANY SUCH CLAIMS AND DISPUTES AND CUSTOMER UNDERSTANDS AND FULLY ACKNOWLEDGES THAT CUSTOMER

CANNOT BRING A CLAIM AGAINST IB OR RECEIVE DAMAGES OR COMPENSATION OF ANY KIND FROM IB, INCLUDING CLAIMS FOR

DIRECT, INDIRECT, COMPENSATORY, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES. ALL CLAIMS OR

DISPUTES REGARDING THE FEES OWED TO ADVISOR ARE SOLELY BETWEEN CUSTOMER AND ADVISOR. IF CUSTOMER DISPUTES

ADVISOR's RECEIPT OF ANY FEES THAT IB HAS DEDUCTED FROM THE ACCOUNT AND SENT TO ADVISOR, CUSTOMER UNDERSTANDS

THAT CUSTOMER's SOLE REMEDY IS AGAINST ADVISOR AND CUSTOMER AGREES NOT TO BRING ANY CLAIM AGAINST IB.

G. Arbitration: The agreements between Customer and Interactive Brokers (which are also binding o n Advisor) contain mandatory

arbitration c lauses requiring all parties to arbitrate any disputes regarding securities trading. The agreements m a y also contain

arbitration provis ions regarding futures trading. All applicable arbitration c lauses are incorporated herein b y reference.

Signature• CUSTOMER REPRESENTS THAT CUSTOMER HAS RECEIVED THE PACKAGE OF DOCUMENTS TITLED "INTERACTIVE BROKERS U.K.

AGREEMENTS AND DISCLOSURE DOCUMENTS" AND HAS READ AND UNDERSTOOD AND INTENDS TO BE BOUND BY THE

INTERACTIVE BROKERS CUSTOMER AGREEMENT AND ALL OF THE PROVIDED DISCLOSURE DOCUMENTS.


• CUSTOMER REPRESENTS THAT CUSTOMER HAS READ AND UNDERSTOOD AND INTENDS TO BE BOUND BY THE ABOVE

"DISCRETIONARY TRADING AUTHORIZATION/ POWER OF ATTORNEY FOR FINANCIAL ADVISOR AND REQUEST TO SEND TRADE

CONFIRMATIONS AND ACCOUNT STATEMENTS TO ADVISOR"

• CUSTOMER REPRESENTS THAT ALL INFORMATION PROVIDED DURING THE ACCOUNT APPLICATION PROCESS IS TRUE AND CORRECT

AND AGREES TO NOTIFY INTERACTIVE BROKERS OF ANY MATERIAL CHANGES IN THAT INFORMATION.

• U.S. TAX CERTIFICATION: UNDER PENALTIES OF PERJURY I DECLARE THAT:A. IF I HAVE PROVIDED A U.S. TAXPAYER ID NUMBER (W9) : 1) THE NUMBER PROVIDED IN THIS APPLICATION IS MY CORRECT

TAXPAYER IDENTIFICATION NUMBER (OR I AM WAITING FOR A NUMBER TO BE ISSUED TO ME); AND 2) I AM NOT SUBJECT TO

BACKUP WITHHOLDING BECAUSE: (A) I AM EXEMPT FROM BACKUP WITHHOLDING, OR (B) I HAVE NOT BEEN NOTIFIED BY THE

INTERNAL REVENUE SERVICE (IRS) THAT I AM SUBJECT TO BACKUP WITHHOLDING AS A RESULT OF A FAILURE TO REPORT ALL

INTEREST OR DIVIDENDS, OR (C)THE IRS HAS NOTIFIED ME THAT I AM NO LONGER SUBJECT TO BACKUP WITHHOLDING.

B. IF I HAVE NOT PROVIDED A U.S. TAXPAYER ID NUMBER (W8BEN): 1) I AM THE BENEFICIAL OWNER (OR AM AUTHORIZED TO SIGN

FOR THE BENEFICIAL OWNER) OF ALL THE INCOME TO WHICH THIS FORM RELATES); 2) THE BENEFICIAL OWNER IS NOT A U.S.

PERSON; 3) THE INCOME TO WHICH THIS FORM RELATES IS NOT EFFECTIVELY CONNECTED WITH THE CONDUCT OF A TRADE OR

BUSINESS IN THE UNITED STATES OR IS EFFECTIVELY CONNECTED BUT IS NOT SUBJECT TO TAX UNDER AN INCOME TAX

TREATY; AND 4) FOR BROKER TRANSACTIONS OR BARTER EXCHANGES, THE BENEFICIAL OWNER IS AN EXEMPT FOREIGN

PERSON AS DEFINED IN THE INSTRUCTIONS. FURTHERMORE, I AUTHORIZE THIS FORM TO BE PROVIDED TO ANY WITHHOLDING

AGENT THAT HAS CONTROL, RECEIPT, OR CUSTODY OF THE INCOME OF WHICH I AM THE BENEFICIAL OWNER OR ANY

WITHHOLDING AGENT THAT CAN DISBURSE OR MAKE PAYMENTS OF THE INCOME OF WHICH I AM THE BENEFICIAL OWNER.

NOTE: THE INTERNAL REVENUE SERVICE DOES NOT REQUIRE YOUR CONSENT TO ANY PROVISIONS OF THIS DOCUMENT OTHER

THAN THE CERTIFICATIONS REQUIRED TO ESTABLISH YOUR STATUS AS A N O N - U.S. PERSON AND, IF APPLICABLE, OBTAIN A

REDUCED RATE OF WITHHOLDING.

• ACCOUNT TRANSFER: IF CUSTOMER HAS PROVIDED INFORMATION REQUESTING THAT ANOTHER BROKER TRANSFER ASSETS A N D /

OR CASH TO INTERACTIVE BROKERS, CUSTOMER HEREBY REQUESTS SUCH TRANSFER PURSUANT TO THE TERMS AND CONDITIONS

SPECIFIED BELOW IN THE SECTION: "FUND YOUR ACCOUNT/TRANSFER FROM ANOTHER BROKER"

• THE INTERACTIVE BROKERS CUSTOMER AGREEMENT CONTAINS AN ARBITRATION CLAUSE REQUIRING BOTH PARTIES TO

ARBITRATE ANY DISPUTES BETWEEN CUSTOMER AND INTERACTIVE BROKERS LLC REGARDING SECURITIES TRADING OR

CUSTOMER'S SECURITIES ACCOUNT. CUSTOMER MUST BE AWARE THAT:• ARBITRATION IS FINAL AND BINDING ON THE PARTIES.

• THE PARTIES ARE WAIVING THEIR RIGHT TO SEEK REMEDIES IN COURT, INCLUDING THE RIGHT TO JURY TRIAL.

• PRE-ARBITRATION DISCOVERY IS GENERALLY MORE LIMITED THAN AND DIFFERENT FROM COURT PROCEEDINGS.

• THE ARBITRATORS'S AWARD IS NOT REQUIRED TO INCLUDE FACTUAL FINDINGS OR LEGAL REASONING 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.


Date Date


V. INTERACTIVE BROKERS LIMITED LIABILITY AGREEMENT

Agreement Limiting Interactive Brokers' Liability for Decisions and Actions of Your Independent Financial Advisor. Please review each of the statements below and then: 1) initial each statement if you agree, and then: 2) sign the agreement at the bottom

In consideration for maintaining a brokerage account at Interactive Brokers, Customer agrees:

1 . I u n d e r s t a n d t h a t m y financial advisor is independen t f r o m interactive brokers ("IB") a n d is n o t a n employee o r a n a g e n t of IB. I agree that

Interactive Brokers i s not liable for the trading decis ions or actions o f m y advisor and I agree not to bring lawsuits or claims o f any k ind

against IB for actions or trading decis ions o f m y advisor.

AGREED BY:

INITIALS

2 . I u n d e r s t a n d t h a t Interactive Brokers' only role is t o execute t r ades o rde red by m y advisor a n d ho ld m y posi t ions in a n IB account . I agree

t h a t s ince IB does n o t r ecommend t r ades o r give advice, IB will n o t conduc t any "suitability" review t o m a k e su re t h a t m y advisor 's t r ad ing

decisions a re sui table for m y ci rcumstances a n d objectives.

AGREED BY:

INITIALS

3 . I selected m y advisor personally. I u n d e r s t a n d t h a t Interactive Brokers does n o t research o r r ecommend part icular financial advisors. I

u n d e r s t a n d t h a t IB h a s n o t r ecommended o r investigated m y advisor.

AGREED BY:

INITIALS

4 . Since Interactive Brokers is n o t providing any advice t o me, if m y account genera tes profi ts , I will n o t have t o sha re t h e prof i t s with IB.

Likewise I agree that i f m y account suffers losses , Interactive Brokers will not repay or b e responsible for m y losses .

AGREED BY:

INITIALS

5 . I agree t h a t Interactive Brokers does n o t see m y advisor 's communica t ions t o m e a n d is n o t responsible for s t a t emen t s o r informat ion

coming t o m e f r o m m y advisor. I agree t o login t o t h e IB website o r t o contac t IB if I wan t t o verify any account o r p r o f i t /loss informat ion

given t o m e by m y advisor.

AGREED BY:

INITIALS

Understood and Agreed:

Signature:

Printed Name of Customer:

Date:


VI. FUND YOUR ACCOUNT

Select funding method:How do you wish to initially fund your account? (choose one)

Check (Cashiers, Bank and Teller checks accepted. Checks are only accepted for U.S. dollar currency deposits. Personal checks are held

for 10 business days before funds are available for trading.)

Wire Transfer

Free of Payment (FOP) Request

Account Transfer from Another Broker - ACATS (ATON for Canadian Assets). Transfer of cash and securities positions from a third-

party broker. Only transfers from a US or Canadian broker can be accepted (3 to 7 days for assets to arrive depending on the third-party broker). Please note, a number of brokers require a paper ACAT signature for transfer. If your broker is l isted below, you must send a copy of the ACAT portion of your application directly to this broker.

Firm NameAmeritrade Clearing

National Financial Services

Legent

Brown and Co

E*Trade

Southwest Securities

Computer Clearing Services

Fahnstock

Wachovia Securities, LLC

Salomon Smith Barney

Morgan Stanley Dean Witter

Documents RequestedPartial ACAT

Partial and full ACATs

Partial ACAT

Partial ACAT

Partial ACAT

Partial ACAT

Partial ACAT

Partial ACAT




Complete only o n e of the below sections:Check: Complete this section only if you want to initially fund your account with a check:

Amount of check (check must be in U.S dollars) Check Number (optional)

Bank Routing (ABA) Number on check: Bank Account Number

Instructions for Check Deposits:

So that we may process your check as quickly as possible, please enter check information in the spaces provided above. If you are not sure what

to enter, please see the example below:

Please make your check payable to "Interactive Brokers LLC" and make sure the names of all account holders are written on the check (use the

Memo line if necessary).

Please enclose your check with this completed application. If you are faxing or e-mailing us your completed application and you want to mail the

check separately, send it to:

Interactive Brokers

8 Greenwich Office Park

Greenwich, CT 06831-0504

Attn: IBCD


Free of Payment (FOP) Request: Complete this section only if you want to initially fund your account with a wire transfer:

This form authorizes the transfer of assets held at a third-party broker to be moved to Interactive Brokers.

You must contact your third-party broker to initiate the transfer. Your Account Name, Tax Identification Number, and Customer Type (i.e.

individual, joint, Roth IRA) for your Interactive Brokers Account should match the third-party broker account in order for the transfer to take

place. Please note that Interactive Brokers accepts only products that it makes available for trading. Certain products, such as Mutual Funds and

Limited Partnership units cannot be held in your Interactive Brokers account.

Please Note: You should confirm with your sending broker their DTC Participant # so as not to delay the processing of your Free of Payment

delivery.

Third-party Broker Account Name

Account Number:

Please specify stock positions to transfer:

Symbol: Shares:

Signature of Account Holder Date


Wire Transfer: Complete this section only if you want to initially fund your account with a wire transfer:

Amount of wire t ransfer Currency of wire transfer (for example: U.S. dollars)

Name of Sending Bank/Broker

Instructions for Wire Transfer:

You must notify your bank to send a wire. All incoming wires must have the account holder's name (both names if a joint account). Depending on

your bank, please allow one to four business days for your funds to be received. For security reasons, incoming funds are held for ten business days

before you can withdraw the funds.

Use the chart below to determine where to have your bank send the wire transfer, based on the currency of the funds being sent. For wires

originating in the same country as the receiving bank listed below, please instruct your bank to send funds via the in-country payment system(s).

For wires originating outside the country of the receiving bank, instruct your bank to send funds via SWIFT. Line 59 of the SWIFT message should

include Interactive Brokers LLC Bank Account Number at Citibank and Line 70 of the SWIFT message should include your name (IB Account

Holder's Name).

Currency Receiving Bank Name and Address Receiving Bank CodesReceiving Bank Account Name

and Number

If funds wired in

U.S. Dollars:

Citibank, N.A. (New York Branch)

Wall Street

New York, NY 10043

United States of America

ABA Number: 021000089

SWIFT BIC Code: CITI US 33

Interactive Brokers LLC

Bank Account No. 40806826

For further credit to: [Insert AllAccount Holder Name(s)]

If funds wired in

Australian Dollars:

Bank of America, N.A. (Sydney Branch)

Level 64, MLC Centre, 19 Martin Place,

SYDNEY NSW AUSTRALIA 2000

BSB Code: 232-001

SWIFT BIC Code:

BOFFAAUSX




If funds wired in

Canadian Dollars:

Royal Bank of Canada (RBC)

180 Wellington St. W.

Toronto, ON M5J1J1

Canada

SWIFT BIC Code:

ROYCCAT2

Transit : 09591

Insti tut ion: 0003



Wire Beneficiary Address:

Interactive Brokers,

1 Pickwick Plaza,

Greenwich, CT, 06831 United States


If funds wired in

Swiss Francs:

Citibank, N.A. (London Branch)

Citigroup Centre, Canary Wharf

33 Canada Square

London, England (E14 LB)

United Kingdom

Sort Code: 185008

SWIFT BIC Code: CITI GB 2L



Int'l Bank Acct No. (IBAN):

GB35CITI18500810569674


If funds wired in

British Pounds:

Citibank, N.A. (London Branch)

Citigroup Centre, Canary Wharf,

33 Canada Square

London, England (E14 LB)

United Kingdom

Sort Code: 185008

SWIFT BIC Code: CITI GB 2L




GB70CITI18500808774544


If funds wired in

Euros:

Citigroup Global Markets Deutschland AG

& Co. KGaA.

REUTERWEG 16 60323 FRANKFURT AM

MAIN GERMANY

FRANKFURT AM MAIN

BLZ No.: 50210900

SWIFT BIC Code: CITI DE FF




DE21502109000119754038


If funds wired in

Hong Kong Dollars:

Citibank, N.A. (Hong Kong Branch)

9/F Two Harbourfront

22 Tak Fung Street

CHATS Code: 006/391Interactive Brokers LLC



H u n g h o m

Hong Kong

SWIFT BIC Code: CITI HK

HX


If funds wired in

Japanese Yen:

Citibank Japan (Ltd.)

Honten Branch

Citigroup Center

2-3-14 Higashi Shinagawa

Shinagawa-ku, Tokyo Japan

z ip -code : 140-8639

SWIFT BIC Code: CITI JP JT




If funds wired in

Mexican Peso:

Banco Nacional de Mexico, S.A.

Mexico Location:

3er Piso Torre Norte

Act. Roberto Medellin No. 800

Col. Santa Fe, Mexico, D.F. 01210

Tampa Location:

Citigroup Global Transaction Services

3800 Citigroup Center Tampa FL

SWIFT BIC Code:

CITIUS33MER *


Bank Account No. at

Banamex: 231440011**


If funds wired in

Swedish Crona:

Skandinaviska

Enskilda Banken AB

SKANDINAVSKA ENSKILDA BANKEN

KUNGSTRÄDGÅRDSGATAN 8

106 40 STOCKHOLM

SWIFT BIC Code: ESSESESS


Bank Account No. at S-E Banken:

SE8850000000055558500891


If funds wired in

New Zealand Dollars:

Citibank, N.A. (Auckland)

23 Customs Street East Level II,

Citibank Centre,

Auckland, New Zealand

NZ Bank Code: 312840

SWIFT BIC Code: CITINZ2X


Bank Account No.:

312840003254901


If funds wired in

New Zealand Dollars:

Citibank, N.A. (Auckland)

23 Customs Street East Level II,

Citibank Centre,

Auckland, New Zealand

NZ Bank Code: 312840

SWIFT BIC Code: CITINZ2X


Bank Account No.:

312840003254901


Account Transfer from Another Brokerage Firm (ACATS/ATON): Complete this section only if you want to init ially

fund your account through a transfer of assets and/or cash from a U.S. securit ies broker (ACATS) or a Canadian

securities broker (ATON):Please note: The Account Name, Tax Identification Number, and Account Type (i.e. individual, joint, Roth IRA) for your Interactive Brokers account

must exactly match the brokerage account from which you are transferring assets in order for the transfer to take place.

Also, please note that Interactive Brokers accepts transfers only of assets that IB makes available for trading. Certain products, such as mutual

funds and limited partnership units cannot be transferred to or held in your Interactive Brokers account.

Name of brokerage f irm that t ransfer is coming from Account number of account being t ransferred

Type of account being transferred (individual, joint, IRA etc...) If transfer is from an IRA account, what type? (Roth, etc...)

Do you have a margin loan in the account being transferred?

Yes N o

Do you have any short posit ions in the account being transferred?

Yes N o

Are there options posit ions in the account being transferred?

Yes N o

Are you transferring al l assets from the account or just some assets?

Full Transfer Partial Transfer

Instructions for Account Transfer from Another Broker: Customer requests that transferring broker transfer to Interactive Brokers the specified

assets in the third-party brokerage account specified above. Customer understands that to the extent any assets are not readily transferable, with

or without penalties; such assets may not be transferred within the time frames required by the NYSE Rule 412 or similar rule of NASD or other

designated examining body. Unless otherwise indicated, customer authorizes the transferring broker to liquidate any non-transferable proprietary

money market fund assets that are part of the account and to transfer the resulting credit balance to Interactive Brokers. Customer authorizes

transferring broker to deduct any outstanding fees due from the credit balance in the account. If the account does not contain a credit balance, or

if the credit balance is insufficient to satisfy any outstanding fees due, Customer authorizes transferring broker to liquidate the assets in the

account necessary to satisfy any obligation.

Full Transfer: If you are transferring ALL the assets from another brokerage account into your Interactive Brokers account (full transfer), you do

n o t need to complete the form below.


Partial Transfer: If you are transferring only SOME of the assets from another brokerage account into your Interactive Brokers account (partial

transfer), you must list all: 1) stock; 2) options; and 3) cash that you want to transfer. Use the form below and attach additional pages if necessary.

Partial Account Transfer Form (use only if you are opening your account by transferring only part of an account with another brokerage firm to

Interactive Brokers). Use the lines below and attach additional pages if necessary:

Positions:Stocks:

Symbol Number Shares Long/Shor t

Long

Shor t

Long

Shor t

Long

Shor t

Long

Shor t

Long

Shor t

Opt ions (Please note, this is not available for ATON

Underlying SymbolNumber of

Cont rac tsStrike Price

Expiration (yyyy/

m m / d d )Put /Cal l Long/Shor t

Put Call Long

Shor t

Put Call Long

Shor t

Put Call Long

Shor t

Put Call Long

Shor t

Put Call Long

Shor t

C a s h - ACATS are available for USD accounts only. ATONs are available for USD and CAD accounts

A m o u n t Positive Cash Balance or Margin Loan?

Cash balance Margin Loan

If your broker requires a paper ACAT signature form for transfer, you must send a signed copy of the ACAT portion of your application to your

broker.


Date Date


VII. NECESSARY ACCOUNT DOCUMENTATION

Regulations require Interactive Brokers to obtain documentation verifying the identity of each of its customers.Please make sure all documents are clear and readable.Please see further instructions below:

Document Category Acceptable Documents (only one document per category is needed)

Proof of client's identity and date of birth(The document must include the client 's name, date of birth, a

photograph, a signature and clearly state the identif icat ion number

that you provided in your application)

• Passpor t

• National Identity Card

• Driver's License

• Alien Identification Card

Proof of client's address(The document must clearly state your residential address)

• Mortgage Statement, Deed or Other Evidence of Property;

• Current Lease;

• Utility Bill (less than 12 months old);

• Current Driver's License

But if you used driver's license as proof of identity, then we are required to obtain a second, different document for proof of address (i.e., driver's license cannot be used again);

• Bank Statement, Bank-Issued Credit Card Statement or Bank-Issued Debit Card Statement or Signed Letter from Bank on Bank Letterhead Confirming Address

Customer and bank must be from a country that is a member of the Financial Action Task Force on Money Laundering (see http://www.fatf-gafi .org);

Statement must be less than 12 months old;

• Brokerage Statement from a U.S.-Registered Broker Dealer or Foreign Affiliate of a U.S.-Registered Broker Dealer

Customer must be from a country that is a member of the Financial Action Task Force on Money Laundering (see ht tp: / /www.fatf-gafi .org);

Statement must be less than 12 months old;

• Current Homeowner's or Renter 's Policy Documents or Riders

Policy must be currently in effect;

• Bill for Homeowner's or Renter's Insurance Policy (less than 12 months old);

• Security System Bill/Statement (less than 12 months old); or

• Government-Issued Letters or Statements Establishing Current Address (less than 12 months old). E.g:

Tax Letters and notices;

Letters or notices from government housing authorit ies;

Jury duty notices;

Voter registration notices;

Other official government letters or notices showing customer name and address being verif ied.

ADDITIONAL DOCUMENTS THAT CAN BE USED FOR MAINLAND CHINA ACCOUNTS ONLY: If you are unable to produce any of the above, you may instead provide the following as proof of an address in China:

• Copy of bank account passbook

Must be issued in last 12 months or show some transact ion in last 12 months;

• Mobile phone bill (less than 12 months old);

• Hukou showing current address


VIII. RETURN YOUR COMPLETED APPLICATION (ALONG WITH REQUIRED DOCUMENTS)TO YOUR ADVISOR OR TO INTERACTIVE BROKERS

Please complete all information required in this application, provide all required signatures for each account holder, and return the entire application to your Financial Advisor or directly to Interactive Brokers.

Please make sure to include your required proof of identity and address documents for each account holder. If your advisor has instructed you to send your application directly to Interactive Brokers, you may use any of the methods below:

Scan and Email(This is the fastest method)

[email protected]

Please note: The scanning and emailing option is typically the most efficient method, and will make account

review quicker. Please be aware of the following guidelines and limitations when sending us e-mails or

scanned document a t tachments .

Please send emails as text rather than HTML format. If possible, users of Microsoft Outlook emailer should disable RFT (rich-text format) encoding.

Only the following attachment types are accepted: .gif .tiff .tif .jpeg .jpg .png .bmp .pdf.

Please limit the size attachment to 10MB.

Please limit the size of e-mail text to 2,000 characters. Emails longer than that will be truncated.

When sending a document by email , please only include your account number in the Subject l ine of your email. This will allow the Interactive Brokers system to automatically post your email (with any at tachments) to your application.

Courier/Overnight Service (e.g.

Fed Ex)

Mailing your documentation via

overnight carrier is also a choice,

but please keep in mind that the

processing t ime for approval of

the account may take longer than

if sending by email or fax.



Got thards t rasse 3

6301 Zug

Switzerland

+ 4 1 - 4 1 - 7 2 6 - 9 5 0 0

Fax +(41-41) 726-9599

Please note: Scanning and emailing required documents or sending documents by Courier/Overnight service

are the best methods of sending documents. If you prefer to send documents via fax, please observe the

following guidelines:

Please enlarge documents to at least 125% of the normal size (up to 3/4 page-size) so we can read the documen t .

Please l ighten the documents by one or two increments when copying or faxing.

As a general rule, before faxing, please make sure that all text is large and clear, and legible.

MailMailing your documentation

through the regular postal service

is also a choice, but please keep in

mind that the processing t ime for

approval of the account may take

longer than if sending by email or

fax.



P.O. Box 254

6301 Zug

Switzerland

Should you have any questions, please send us an email addressed to [email protected] or call:00800-42-276537 (international toll free) or +41-41-726-9500 (direct dial).




Form W - 9(Rev. October 2007)

Department of the Treasury

Internal Revenue Service

Request for TaxpayerIdentification Number and Certification

Give form to the

requester . Do not

send to the IRS.

Name (as shown on your income tax return)

Business Name, if different from above

Check appropriate box: Individual/Sole

Proprie tor

Corporat ion Par tnership

Limited liability company. Enter the tax classification: Disregarded enti ty Corporat ion Par tnership

Other (see instructions)

Exempt Payee

Address (number, street , and apt. or suite no.) Requester 's name and address (optional)

City, state, and Zip/Postal code

List account number(s) here (optional)

Part I Taxpayer Identification Number (TIN) Enter your TIN in the appropriate box. The TIN provided must match the name given on Line 1 to avoid

backup withholding. For individuals, this is your social security number (SSN). However, for a resident

alien, sole proprietor, or disregarded entity, see the Part I instructions on page 3. For other entities, i t is

your employer identification number (EIN). If you do not have a number, see How to get a TIN on page 3.

Note. If the account is in more than one name, see the chart on page 4 for guidelines on whose number

to enter .

Social security number

o r

Employer identif ication number

Part II CertificationUnder penalties of perjury, I certify that:

The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me), and

I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal

Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has

notif ied me that I am no longer subject to backup withholding, and

I am a U.S. citizen or other U.S. person (defined below).

Certification instructions. You must cross out i tem 2 above if you have been notified by the IRS that you are currently subject to backup

withholding because you have failed to report all interest and dividends on your tax return. For real estate transactions, i tem 2 does not

apply. For mortgage interest paid, acquisit ion or abandonment of secured property, cancellation of debt, contributions to an individual

retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the Certification, but

you must provide your correct TIN. See the instructions on page 4.

Sign HereSignature of U.S. person Date (MM-DD-YYYY)

Form W - 9 (Rev. 10-2007)


Form W-8BEN(Rev. February 2006)



Certificate of Foreign Status of Beneficial Ownerfor United States Tax Withholding

» Section References are to the Internal Revenue Code. » See separate instructions.» Give this form to the withholding agent or payer. Do not send to the IRS.

OMB No. 1545-1621

Do not use this form for: Instead, use Form:

• A U.S. citizen or other U.S. person, including a resident alien individual................................................. ........................................W - 9

• A person claiming that income is effectively connected with the conduct

of a trade or business in the United States.............................................................................................. ..................................W-8ECI

• A foreign partnership, a foreign simple trust, or a foreign grantor trust (see instructions for exceptions). . . . ................W-8ECI or W-8IMY

• A foreign government, international organization, foreign central bank of issue, foreign tax-exempt

organization,foreign private foundation, or government of a U.S. possession that received effectively

connected income or that isclaiming the applicability of section(s) 115(2), 501(c), 892, 895, or 1443(b)

(see instructions)..................................................................................................................................... ...............W-8ECI or W-8EXP

Note: These entities should use Form W-8BEN if they are claiming treaty benefits or are providing the form only to claim they are a foreign

person exempt from backup withholding.

• A person acting as an intermediary.......................................................................................................... ..................................W-8IMY

Note: See instructions for additional exceptions.

Part I Identification of Beneficial Owner (See instructions.)1 Name of individual or organization that is the beneficial owner 2 Country of incorporation or organization

3 Type of beneficial owner: Individual Corporat ion Disregarded enti ty Par tnership Simple trust

Grantor t rus t Complex t rust Estate Government International organization

Central bank of issue Tax-exempt organizat ion Private foundation

4 Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box or in-care-of address.

City or town, state or province. Include postal code where appropriate. Country (do not abbreviate)

5 Mailing address (if different from above)


6 U.S. taxpayer identification number, if required (see instructions)

SSN or ITI EIN

7 Foreign tax identifying number, if any

(optional)

8 Reference number(s) (see instructions)

Part II Claim of Tax Treaty Benefits (if applicable)9 I certify that (check all that apply):

aThe beneficial owner is a resident of within the meaning of the income tax treaty between the

United States and that country.

b If required, the U.S. taxpayer identification number is stated on line 6 (see instructions).

c The beneficial owner is not an individual, derives the item (or items) of income for which the treaty benefits are claimed, and, if

applicable, meets the requirements of the treaty provision dealing with limitation on benefits (see instructions).

d The beneficial owner is not an individual, is claiming treaty benefits for dividends received from a foreign corporation or interest

f rom a

U.S. trade or business of a foreign corporation, and meets qualified resident status (see instructions).

e The beneficial owner is related to the person obligated to pay the income within the meaning of section 267(b) or 707(b), and will

file

Form 8833 if the amount subject to withholding received during a calendar year exceeds, in the aggregate, $500,000.


1 0Special rates and conditions (if applicable—see instructions): The beneficial owner is claiming the provisions of Article

of the treaty identified on line 9a above to claim a % rate of withholding on (specify

type of income): .

Explain the reasons the beneficial owner meets the terms of the treaty article:

Part III Claim of Tax Treaty Benefits (if applicable)1 1 I have provided or will provide a statement that identifies those notional principal contracts from which the income is not

effectively

connected with the conduct of a trade or business in the United States. I agree to update this statement as required.

Part IV CertificationUnder penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief i t is true,

correct, and complete. I further certify under penalties of perjury that:

• I am the beneficial owner (or am authorized to sign for the beneficial owner) of all the income to which this form relates,

• The beneficial owner is not a U.S. person,

• The income to which this form relates is (a) not effectively connected with the conduct of a trade or business in the United States, (b)

effectively connected but is not subject to tax under an income tax treaty, or (c) the partner 's share of a partnership's effectively

connected income, and

• For broker transactions or barter exchanges, the beneficial owner is an exempt foreign person as defined in the instructions.

Furthermore, I authorize this form to be provided to any withholding agent that has control, receipt, or custody of the income of which I am

the beneficial owner or any withholding agent that can disburse or make payments of the income of which I am the beneficial owner.

Sign HereSignature of beneficial owner (or individual authorized to sign for beneficial

owner)

Date (MM-DD-YYYY) Capacity in which acting

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 25047Z Form W-8BEN (Rev. 2-2006)


Form W-8ECI(Rev. December 2000)

Depar tment of the

Treasury


Certificate of Foreign Person’s Claim for Exemption From Withholding on Income Effectively Connected With the

Conduct of a Trade or Business in the United States» Section References are to the Internal Revenue Code. » See separate instructions.

» Give this form to the withholding agent or payer. Do not send to the IRS.

OMB No. 1545-1621

Note: Persons submitting this form must file an annual U.S. income tax return to report income claimed to be effectively connected with a U.S.

trade or business (see instructions).


• beneficial owner solely claiming foreign status or treaty

benefits......................................................................................

........................................W-8BEN


organization, foreign private foundation, or government of a U.S. possession claiming the applicability of

section(s) 115(2), 501(c), 892, 895, or 1443

(b).......................................................................................................................................................... ........................................W-8EXP

Note: These entities should use Form W-8ECI if they received effectively connected income (e.g., income from commercial activities).

• A foreign partnership or a foreign trust (unless claiming an exemption from U.S. withholding on income

effectively connected with the conduct of a trade or business in the United

States)..........................................................................

......................W-8BEN or

W-8IMY

• A person acting as an intermediary................................................................................................................................... .........................................W-8IMY

Note: See instructions for additional exceptions.

Part I Identification of Beneficial Owner (See instructions.)1 Name of individual or organization that is the beneficial owner 2 Country of incorporation or organization

3 Type of beneficial owner:

Par tnership Individual Corporat ion Disregarded enti ty

Government Simple t rust or grantor t rust Complex t rust Estate

Private foundation International organization Central bank of issue Tax-exempt organizat ion

4 Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box or in-care-of address.





SS or ITI EIN


(optional)


9 Specify each item of income that is, or is expected to be, received from the payer that is effectively connected with the conduct of a trade

or business in the United States

Part II Certification


Under penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief i t is true,


• I am the beneficial owner (or I am authorized to sign for the beneficial owner) of all the income to which this form relates,

• The amounts for which this certification is provided are effectively connected with the conduct of a trade or business in the United States

Sign and are includible in my gross income (or the beneficial owner’s gross income) for the taxable year, and

• The beneficial owner is not a U.S. person..


t h e

beneficial owner or any withholding agent that can disburse or make payments of the income of which I am the beneficial owner.


owner)


For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 25045D Form W-8ECI (Rev. 12-2000)


Form W-8EXP(Rev. December 2000)



Certificate of Foreign Government or Other ForeignOrganization for United States Tax Withholding

(For use by foreign governments, international organizations, foreign central banks of OMB No. 1545-1621 issue, foreign tax-exempt organizations, foreign private

foundations, and governments of Department of the Treasury U.S. possessions.)» Seciton References are to the Internal Revenue Code. » See separate instructions.


OMB No. 1545-1621


• Any foreign government or other foreign organization that is not claiming the applicability of section(s)

115(2), 501(c), 892, 895, or 1443

(b)..........................................................................................................................................................

......................W-8BEN or

W-8ECI

• A beneficial owner solely claiming foreign status or treaty

benefits................................................................................... ........................................W-8BEN

• A foreign partnership or a foreign

trust..............................................................................................................................

.......................W-8ECI or

W-8IMY

• A person claiming an exemption from U.S. withholding on income effectively connected with the conduct

of a trade or business in the United

States............................................................................................................................................ .........................................W-8ECI

• A person acting as an intermediary................................................................................................................................... .........................................W-8IMY

Part I Identification of Beneficial Owner (See instructions.)1 Name of organization 2 Country of incorporation or organization

3 Type of

entity

Foreign government International

organiza t ion

Foreign central bank of issue not

wholly owned by the foreign sovereign)

Foreign tax-exempt organizat ion

Government of a U.S. possession Foreign private foundation

4 Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box





SS or ITI EIN


(optional)


Part II Qualification Statement9 For a foreign government:

a I certify that the entity identified in Part I is a foreign government within the meaning of section 892 and the payments are within

the scope of the exemption granted by section 892.

Check box 9b or box 9c, whichever applies:

b The entity identified in Part I is an integral part of the government of

c The entity identified in Part I is a controlled entity of the government of

1 0 For an international organization:

I certify that:

• The entity identified in Part I is an international organization within the meaning of section 7701(a)(18) and• The payments are within the scope of the exemption granted by sect ion 892.


1 1 For a foreign central bank of issue (not wholly owned by the foreign sovereign):

I certify that:

• The entity identified in Part I is a foreign central bank of issue,

• The enti ty identified in Part I does not hold obligations or bank deposits to which this form relates for use in connection with the conduct

of a commercial banking function or other commercial activity, and

• The payments are within the scope of the exemption granted by sect ion 895.

1 2For a foreign tax-exempt organization, including foreign private foundations:

If any of the income to which this certification relates constitutes income includible under section 512 in computing the

enti ty’s unrelated business taxable income, at tach a statement identifying the amounts.

Check either box 12a or box 12b:

aI certify that the entity identified in Part I has been issued a determination letter by the IRS dated

that is currently in effect and that concludes that i t is an exempt organization described in section 501(c).

b I have attached to this form an opinion from U.S. counsel concluding that the entity identified in Part I is described insection 501(c).

For section 501(c)(3) organizations only, check either box 12c or box 12d:

c If the determination letter or opinion of counsel concludes that the entity identified in Part I is described in section 501(c)(3), I

certify that the organization is not a private foundation described in section 509. I have attached an affidavit of the organization

sett ing forth sufficient facts for the IRS to determine that the organization is not a private foundation because i t meets one of the

exceptions described in section 509(a)(1), (2), (3), or (4).

d If the determination letter or opinion of counsel concludes that the entity identified in Part I is described in section 501(c)(3), I

certify that the organization is a private foundation described in section 509.

For a government of a U.S. possession:

I certify that the entity identified in Part I is a government of a possession of the United States, or is a political subdivision thereof,

and is claiming the exemption granted by section 115(2).

Part III CertificationUnder penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief i t is true,


• The organization for which I am signing is the beneficial owner of the income to which this form relates,

• The beneficial owner is not a U.S. person,

• For a beneficial owner that is a controlled entity of a foreign sovereign (other than a central bank of issue wholly owned by a foreign

sovereign), the beneficial owner is not engaged in commercial activities within or outside the United States, and

• For a beneficial owner that is a central bank of issue wholly owned by a foreign sovereign, the beneficial owner is not engaged in

commercial activities within the United States.


the beneficial owner or any withholding agent that can disburse or make payments of the income of which I am the beneficial owner.


owner)


For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 25401F Form W-8EXP (Rev. 12-2000)


Form W-8IMY(Rev. December 2003)



Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U.S. Branches

for United States Tax Withholding» Seciton References are to the Internal Revenue Code. » See separate instructions.


OMB No. 1545-1621


• A beneficial owner solely claiming foreign status or treaty

benefits.........................................................................

..................................................W-8BEN

• A hybrid entity claiming treaty benefits on its own

behalf......................................................................................... ..................................................W-8BEN

• A person claiming an exemption from U.S. withholding on income effectively connected with the

conduct of a trade or business in the United

States..................................................................................................................... ...................................................W-8ECI

• A disregarded entity. Instead, the single foreign owner should

use.........................................................................

................................W-8BEN or

W-8ECI


organization, foreign private foundation, or government of a U.S. possession claiming the applicability

of section(s) 115(2), 501(c), 892, 895, or 1443

(b).................................................................................................................................... ..................................................W-8EXP

Part I Identification of Entity1 Name of individual or organization that is acting as intermediary 2 Country of incorporation or organization

3 Type of entity—check the appropriate box:

Qualified intermediary. Complete Part II. Withholding foreign trust. Complete Part V.

Nonqualified intermediary. Complete Part III. Nonwithholding foreign partnership. Complete Part VI.

U.S. branch. Complete Part IV. Nonwithholding foreign simple trust. Complete Part VI.

Withholding foreign partnership. Complete Part V. Nonwithholding foreign grantor trust. Complete Part VI.

4 Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box





SS or ITI EIN QI-EIN


(optional)


Part II Qualification Intermediary9 a (All qualified intermediaries check here) I certify that the entity identified in Part I:

• Is a qualified intermediary and is not acting for i ts own account with respect to the account(s) identified on line 8 or in a

withholding statement associated with this form and

• Has provided or will provide a withholding statement, as required.

b (If applicable) I certify that the entity identified in Part I has assumed primary withholding responsibility under Chapter 3 of the

Code with respect to the account(s) identified on this l ine 9b or in a withholding statement associated with this form

c (If applicable) I certify that the entity identified in Part I has assumed primary Form 1099 reporting and backup withholding

responsibility as authorized in its withholding agreement with the IRS with respect to the account(s) identified on this line 9c or in a


withholding statement associated with this form

Part III Nonqualified Intermediary1 0 a (All nonqualified intermediaries check here) I certify that the entity identified in Part I is not a qualified intermediary and is not

acting for i ts own account.

b (If applicable) I certify that the entity identified in Part I is using this form to transmit withholding certificates and/or other

documentary evidence and has provided or will provide a withholding statement, as required.

Part IV Certain United States BranchesNote: You may use this Part if the entity identified in Part I is a U.S. branch of a foreign bank or insurance company and is subject to certain

regulatory requirements (see instructions).

1 1 I certify that the entity identified in Part I is a U.S. branch and that the payments are not effectively

connected with the conduct of a trade or business in the United States.

Check box 12 or box 13, whichever applies:

1 2 I certify that the entity identified in Part I is using this form as evidence of i ts agreement with the withholding agent to be treated as

a U.S. person with respect to any payments associated with this certificate.

1 3 I certify that the entity identified in Part I:

• Is using this form to transmit withholding cert if icates or other documentary evidence for the persons for

whom the branch receives a payment and


Part V Withholding Foreign Partnership or Withholding Foreign Trust1 4 I certify that the entity identified in Part I:

• Is a withholding foreign partnership or a withhholding foreign trust and


Part VI Nonwithholding Foreign Partnership or Withholding Foreign Trust1 5 I certify that the entity identified in Part I:

• Is a nonwithholding foreign partnership, a nonwithholding foreign simple trust , or a nonwithholding foreign grantor trust and

that the payments to which this certificate relates are not effectively connected, or are not treated as effectively connected, with the

conduct of a trade or business in the United States and

• Is using this form to transmit withholding cert if icates and/or other documentary evidence and has provided or wil l provide a

withholding statement, as required.

Part VII Certification

Under penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief i t is true, correct, and complete.

Furthermore, I authorize this form to be provided to any withholding agent that has control, receipt, or custody of the income for which I am providing this form or

any withholding agent that can disburse or make payments of the income for which I am providing this form.

Sign HereSignature of beneficial owner (or individual authorized to sign for beneficial owner) Date (MM-DD-YYYY)

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 25402Q Form W-8IMY (Rev. 12-2003)