UBS International Inc. Website

Terms and Conditions

Important Legal Information

1. Initial Acceptance of Terms. By accessing the UBS International Inc. (“UBS-I”) Web Site (the “UBS-I Site”, the “Site”), you agree to the following terms and conditions herein. If you do not agree to all of these Terms and Conditions, you should not access any of the information on the Site¹.

2. Other Agreements. These Terms and Conditions are in addition to (and do not replace or modify) any other agreement(s) you may have with UBS-I or its parent, UBS-I, or any of its affiliates, subsidiaries, divisions, units or Providers.

3. No offer, no obligation. No information provided on the UBS-I Site constitutes a solicitation, offer, financial advice, or recommendation to buy or sell any investment instruments, to effect any transactions, or to conclude any legal act of any kind whatsoever. The information available to you on the Site is provided for informational purposes and solely as a personal reference tool, and is subject to change without notice. UBS-I makes no representation (either express or implied) that the information provided is accurate, complete or up to date. In particular, UBS-I shall not be obliged to remove any outdated information from the Site or to expressly mark any such information as being outdated. No information on the Site supersedes or replaces your monthly UBS-I account statement, transaction confirmations or year-end UBS-I tax statement, and should not be relied upon for tax planning, tax reporting, or other official purposes. UBS-I does not provide tax or legal advice. Please consult your own tax or legal advisor regarding your specific situation. No warranty is made with respect to any security prices provided. No investment or any other decisions should be made based solely on the contents of the Site. You should obtain advice from a qualified expert before making any investment decision.

4. No indication of future performance. The future performance of an investment cannot be deduced from previous market value, as the value of an investment may fall as well as rise. An investment may also lose value due to changes in rates of foreign exchange. UBS-I cannot guarantee that any capital invested will maintain or increase in value.

5. Changes to these Terms and Conditions. You agree that UBS-I may change these Terms and Conditions at any time. Such changes will be posted online and will be effective upon posting. Your continued use of the Site thereafter will constitute your acceptance of the changes and your agreement to be bound by the Terms and Conditions, as amended. If you do not agree to the changes, you must notify UBS-I in writing or by telephone of your refusal and discontinue your use of the Site.

6. Changes to the UBS-I Site. UBS-I will not be required to notify you of any change in the Site's features or content. In addition, UBS-IUBS-I may at any time, with or without notice, restrict the use and accessibility of the Site. UBS-I may also temporarily suspend or revoke your rights to use the Site based on UBS-I's belief or suspicion that your use of the services exceeds or violates these Terms and Conditions.

7. Your Responsibilities. You are responsible for all statements made and acts or omissions that occur while your user identification name (or "User Name") and password are being used. You are responsible for protecting and securing your User Name and password from unauthorized use and disclosure. If you become aware of, or believe there has been, any breach of security for any of your information stored on the UBS-I Site, such as the theft or unauthorized use of your User Name, password, or any other information, you will notify UBS-I immediately.

8. Indemnification by You. You will indemnify and hold harmless UBS-I, its affiliates and their respective employees, officers, directors, agents, and Providers from any and all claims, losses, expenses and damages, including reasonable attorneys' fees, imposed on, incurred or asserted as a result of or relating to, (a) any violation of these Terms and Conditions by you; and/or (b) your unauthorized receipt or use of information or services provided through the Site; and/or (c) any third-party actions related to your receipt and use of information or services available through the Site, whether authorized or unauthorized under this Agreement.

9. Copyright and Limitations on Your Use of Information. The information available on the Site, including, but not limited to text, images, illustrations, audio clips and video clips (if any) is protected by copyrights, trademarks, services marks, and/or other property rights under the laws of various states, the United States, and foreign jurisdictions, and is owned and controlled by UBS-I, its affiliates, agents and/or their respective Providers. You may use and print a copy of the information contained herein for your personal, non-commercial use only. You may not copy, reproduce, retransmit, distribute, disseminate, sell, publish, broadcast or circulate (including by e-mail or other electronic means) the information available on the Site for any commercial purpose or use, without the prior express written consent of UBS-I, its affiliates, and/or their respective agents or Providers (as applicable). Transmission or use of any information in violation of this Agreement, or any applicable law, rule or regulation (whether of any state, the United States, or other countries), or the rights of any third party is prohibited. This includes, but is not limited to, copyrighted information, information which is defamatory, threatening, obscene, lewd and indecent, information protected by trademark, trade secret, or patent laws, or information that results in an invasion of privacy. You may not use on another web site any trademarks, service marks or copyrighted materials appearing on the Site, including but not limited to any logos or characters, without the express written consent of the owner of the mark or copyright. You may not frame or otherwise incorporate into another web site any of the information on the Site without the prior written consent of UBS-I You agree to access the information on the Site manually after logging onto the Site and not programmatically by macro or other automated means.

10. Your Acknowledgement. You acknowledge that the Site is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security which may be referenced in the Site. Such offers can only be made where lawful under applicable law. UBS-I does not give tax or investment advice, or advocate the purchase or sale of any security or investment that appears on the UBS-I Site. The Site may include facts, opinions and recommendations of individuals and organizations deemed of interest. Neither UBS-I, its affiliates nor their Providers guarantee the accuracy, completeness or timeliness of, or otherwise endorse, these views, opinions or recommendations. If you wish to learn more about information available through the Site, please contact your Financial Advisor. You agree that the information available through the UBS- is not the official record of your UBS-I account and is subject to changes, errors and omissions. Your printed transaction confirmations and periodic UBS-I statements are the official records of your UBS-I account. Also, information available through the UBS-I Site is not a substitute for other important information sent to you by UBS-I and cannot be used for tax reporting or other official purposes.

11. Links to and from Other Sites. In the event you use the UBS-I Site or the links included on the Site to gain access to another Internet site or information on any company, organization or person other than UBS-I, you acknowledge that such other sites are not under the control of UBS-I. You agree that UBS-I shall not be responsible for any information or other links found at any such sites, or for your use of such information. UBS-I provides such links only as a convenience to you, and has not tested any software or verified any information found at such sites. The fact that UBS-I has provided a link to another site does not signify UBS-I's endorsement of the site, its contents or any participants in the site. There are inherent risks in the use of any software or information found on the Internet, and you acknowledge that you understand these risks before making any use of the UBS-I Site. You understand that third parties not affiliated with UBS-I may link to the Site. You agree that this link does not imply UBS-I's endorsement or sponsorship of such third parties or the contents of the third party sites.

12. Limitation of Liability. UBS-I disclaims, without limitation, all liability for any loss or damage of any kind, including any direct, indirect or consequential damages, which might be incurred through the us of or access to the Site, or any links to third-party web sites. Furthermore, UBS-I disclaims all liability for tampering with the user’s computer system by unauthorized parties. In this regard, UBS-I expressly reminds you of the risk of viruses, and the possibility of attacks by hackers. In order to combat viruses, it is recommended that the most recent browser versions be used, and that anti-virus software be installed and continually updated. As a rule, the opening of any e-mail from an unknown source as well as any unexpected attachment to an e-mail message should be avoided.

13. Termination. Your use of at the UBS-I Site will continue until terminated by UBS-I or until you notify UBS-I by telephone or by regular mail of your decision to terminate the services. UBS-I may, in its sole and absolute discretion, and without notice to you, discontinue or change the services provided through the Site or suspend your access to all or any part of the services for any reason. In the event of a termination by UBS-I, UBS-I, its affiliates and their respective directors, officers, employees, agents, and Providers shall have no liability to you.

14. Fees and Payments to Third Parties. You are responsible for any charges incurred to access the Site through an Internet access provider or other third party service. You agree to pay all charges billed to you by third parties in connection with your access to the Site. UBS-I SHALL NOT BE LIABLE FOR ANY AMOUNTS BILLED TO YOU BY A THIRD PARTY, WHETHER OR NOT THESE AMOUNTS WERE AUTHORIZED BY YOU.

15. Material interests. The UBS Group and/or its boards of directors, executive management and employees may have or have had interests or positions, or traded or acted as market maker, in relevant securities. Furthermore, such entities or persons may have or have had a relationship with or may provide or have provided corporate finance or other services to or serve or have served as directors of relevant companies.

16. Local legal restrictions. The Site is not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the publication or availability of the Site is prohibited. Persons in respect of whom such prohibitions apply must access the Site.

17. United Kingdom users. To the extent that material on the Site is issued in the United Kingdom, it is distributed by UBS Limited, an affiliate of UBS-I. Persons dealing with UBS-I or other members of the UBS Group outside the UK are not covered by the rules and regulations made for the protection of investors in the UK.

18. Your Representations and Warranties. You hereby represent and warrant that you are 18 years of age or older. Unless you advise UBS-I to the contrary, in writing, and provide UBS-I with a letter of approval from your employer, where required, you represent that you are not an employee of any U.S. securities exchange, or of any corporation of which any exchange owns a majority of the capital stock, or a member of any exchange, or of a member firm or member corporation registered on any exchange, or of any corporation, firm or individual engaged in the business of dealing, either as a broker or as a principal, in securities, bills of exchange, acceptances or other forms of commercial paper.

19. Disclaimer of Warranty. There may be delays, omissions or inaccuracies in information accessed through the UBS-I Site. You understand and agree that your use of the service is at your sole risk. NEITHER UBS-I, ITS PARENT, ITS AFFILIATES, NOR ANY OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, OR PROVIDERS REPRESENT OR WARRANT THAT ACCESS TO THE SITE WILL BE UNINTERRUPTED OR THAT INFORMATION CONTAINED ON THE SITE WILL BE ERROR FREE, NOR DO ANY OF THEM MAKE ANY REPRESENTATION OR WARRANTY AS TO THE RESULT THAT MAY BE OBTAINED FROM THE USE OF SUCH INFORMATION OR AS TO THE TIMELINESS, SEQUENCE, ACCURACY, COMPLETENESS, RELIABILITY OR CONTENT OF ANY INFORMATION PROVIDED THROUGH THE SITE. THE SERVICE IS PROVIDED ON AN "AS IS", "AS AVAILABLE" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THOSE OF INFORMATION ACCESS, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

20. Limitation of Liability. NEITHER UBS-I, ITS PARENT, ITS AFFILIATES, NOR ANY OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, OR PROVIDERS SHALL BE LIABLE TO YOU OR ANYONE ELSE FOR:

A. ANY LOSS OR INJURY CAUSED IN WHOLE OR PART FOR ANY REASON, INCLUDING BY ITS (OR THEIR) NEGLIGENCE OR CONTINGENCIES BEYOND ITS (OR THEIR) CONTROL, IN PROVIDING, PROCURING, COMPILING, INTERPRETING, REPORTING OR DELIVERING INFORMATION THROUGH THE UBS-I SITE; AND/OR

B. ANY DECISION MADE OR ACTION TAKEN BY YOU IN RELIANCE ON ANY ASPECT OF THE UBS-I SITE INCLUDING, WITHOUT LIMITATION, INFORMATION AVAILABLE THROUGH THE SITE; AND/OR

C. ANY CONSEQUENTIAL, SPECIAL, INCIDENTAL, DIRECT, INDIRECT, OR SIMILAR DAMAGES (INCLUDING, BUT NOT LIMITED TO, LOST PROFITS OR TRADING LOSSES) EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

YOU HAVE READ AND UNDERSTAND THESE TERMS AND CONDITIONS AND AGREE TO BE BOUND BY THEM.