THIS AGREEMENT DESCRIBES YOUR RIGHTS AND RESPONSIBILITIES. PLEASE READ IT CAREFULLY. Last revised: February 2010 ARL Advisers, LLC provides a web service known as, as well as all services related to the web service ("the Service"), including various email alerts ("Alerts"), (collectively “Service”). The use of this Service is subject to your compliance with the terms and conditions set forth in this Agreement. Your use of this Service acknowledges your agreement to be bound by the terms of this Agreement. If you do not agree to be bound by the terms of this Agreement, do not use this Service. This Agreement is made between ARL Advisers, LLC and you, the user and/or member of the Service. ARL Advisers, LLC, in its sole discretion, reserves the right at any time to amend the terms and conditions of this Agreement. Further, ARL Advisers, LLC, in its sole discretion, may change, discontinue or eliminate any content or feature of the Service and may change fees or charges for use of the Service. Be sure to review this Agreement periodically to ensure familiarity with the most current version. Privacy. Our policy with respect to the collection and use of your personal information is set forth in our “Privacy Policy”. Code of Conduct. The content and information provided by ARL Advisers, LLC is for your personal, internal use only. You may not syndicate, license, redistribute any information from the Service to any third party, whether as a stand-alone product or in conjunction with other data or information for any purpose without the prior consent of ARL Advisers, LLC. You acknowledge that all proprietary rights in the information from the Service shall remain the sole and exclusive property of either ARL Advisers, LLC or any third party from which information is provided by and disseminated from the Service. You may not download electronic copies of our content for any purpose other than those permitted by law. Further, you shall not engage in any systematic downloading or other activity directed towards any of the content, in whole or in part, found on the Service that would create an electronic database or archive containing such content. You may not violate or attempt to violate the security of the Service by, without limitation; (a) accessing data not intended for you or logging into a server or account with you are not authorized to access, (b) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization, (c) attempting to interfere with service to any user, host or network, including, without limitation, via means of submitting a virus to the Service, overloading, conducting "denial of service attacks", "flooding", "spamming", "mail bombing" or "crashing", (d) sending unsolicited e-mail, including promotions and/or advertising of products or services, (e) forging any TCP/IP packet header or any part of the header information in any e-mail or newsgroup posting, or (f) attempting to decipher, decompile, disassemble or reverse engineer any of the software comprising or in any way making up a part of the Service. Violations of system or network security may result in civil or criminal liability. ARL Advisers, LLC will investigate potential violations and will, where applicable, vigorously prosecute individuals to the fullest extent of the law. Registration for Subscription Services. You must be 18 years of age or older to subscribe to this service. When you register to become a subscriber, you agree to provide accurate, current and complete information. You further agree to maintain and update your information on a timely basis for accuracy and completeness. If any information provided is untrue, inaccurate or incomplete, this Agreement becomes voidable at the sole discretion of ARL Advisers, LLC.

Your subscription (whether free or paid) provides unlimited access to the basic Service and other premium options for an individual user whose identity must be ascertainable by a unique email address. You may not share your username and password with any other person(s) and you acknowledge that you are responsible for any and all activity conducted through your account. Payment, Cancellation and Renewal. You agree to pay all fees and charges incurred in connection with your subscription to the Service (including any applicable taxes) at the rates in effect when the charges are incurred. You agree to pay all amounts due upon demand. In the event we have to collect unpaid amounts you owe us, you will be liable for all attorneys' and collection agency fees. Your subscription will renew automatically until you notify ARL Advisers, LLC in writing and acknowledged by ARL Advisers, LLC of your decision to terminate your subscription. If you subscribed to our services using a credit card, we will contact you via e-mail only if your card has expired. For your convenience, we will automatically update our files to include the new expiration date on your credit card so that your service may continue uninterrupted. Termination of service will take effect no later than 10 business days after acknowledgment by ARL Advisers, LLC of your notification. Monthly subscriptions will not be reimbursed or refunded. Any delinquent or unpaid amounts must be paid in full before you may re-subscribe. Jurisdictional Issues. The Service is solely directed to individuals residing in the United States. We make no representation that materials provided in the Service are appropriate or available for use in other locations. Those who choose to access the Service from other locations do so on their own initiative and at their own risk, and are responsible for compliance with local laws, if and to the extent applicable. We reserve the right to limit the availability of the Service and/or the provision of any service or product described thereon to any person, geographic area, or jurisdiction we so desire, at any time and in our sole discretion, and to limit the quantities of any such service or product that we provide. Links to Other Web services. The Service may contain links to other Internet web services or resources. We neither control nor endorse such other web services, nor have we reviewed or approved any content that appears on such other web services. You acknowledge and agree that we shall not be held responsible for the legality, accuracy, or inappropriate nature of any content, advertising, products, services, or information located on or through any other web services, nor for any loss or damages caused or alleged to have been caused by the use of or reliance on any such content. DISCLAIMERS. The information on the Service is based on sources ARL Advisers, LLC believes to be reliable but is not guaranteed by us and does not purport to be a complete or error-free statement or summary of the available data. As such, we do not warrant, endorse or guarantee the completeness, accuracy, integrity or timelines of the information. You must evaluate, and bear all risks associated with, the use of any information provided hereunder, including any reliance on the accuracy, completeness, safety or usefulness of such information. This information is not intended to be used as the primary basis of investment decisions. It should not be construed as financial or other advice or as an offer to sell or the solicitation of an offer to buy any security in any state where such an offer or solicitation would be illegal. Any information expressed herein on this date is subject to change without notice. Any opinions or assertions contained in this information do not represent the opinions or beliefs of ARL Advisers, LLC or one or more of its employees, including the editors of the Alerts who may have a position in any of the securities discussed. UNDER NO CIRCUMSTANCE IS ARL Advisers, LLC OUR PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS LIABLE FOR ANY INCIDENTIAL, CONSEQUENTIAL, PUNITIVE OR SPECIAL DAMAGES OF ANY NATURE WHATSOEVER ARISING OUT OF OR IN CONNECTION WITH PROVIDING OR FAILING TO PROVIDE SERVICE, INCLUDING, WITHOUT LIMITATION, LOST PROFITS OR LOSS OF BUSINESS. THIS SECTION SHALL ALSO SURVIVE THE TERMINATION OF THIS AGREEMENT.

Limitation of Liability. Neither ARL Advisers, LLC, nor its affiliates, suppliers, advertisers, affiliates, or agents or sponsors are responsible or liable for any indirect, incidental, consequential, special, exemplary, punitive or other damages under any contract, negligence, strict liability or other theory arising out of or relating in any way to the Service and/or content contained on the Service, or any product or service purchased through the Service. Your sole remedy for dissatisfaction with the Service and/or content contained within the Service is to stop using the Service. The sole and exclusive maximum liability to company for all damages, losses, and causes of action (whether in contract, tort (including, without limitation, negligence), or otherwise) shall be the total amount paid by you, if any, to access the Service. Indemnification. You agree to indemnify, defend and hold us, our officers, directors, employees, agents and representatives harmless from and against any and all claims, damages, losses, costs (including reasonable attorneys' fees), or other expenses that arise directly or indirectly out of or from (a) your breach of this Agreement, including any violation of the Code of Conduct above; (b) any allegation that any materials that you submit to us or transmit to the Service infringe or otherwise violate the copyright, trademark, trade secret or other intellectual property or other rights of any third party; and/or (c) your activities in connection with the Service or any services related to the Service. This indemnification extends to and includes any attorney’s fees and costs incurred by us arising from any action or claims to which this indemnification applies, or from the contesting of the applicability of this provision. This section survives termination of this Agreement. Miscellaneous: MANDATORY ARBITRATION OF DISPUTES - ANY CLAIM, CONTROVERSY OR DISPUTE OF ANY KIND BETWEEN THE SUBSCRIBER AND THE COMPANY AND/OR ANY OF ITS’ EMPLOYEES, AGENTS, AFFILIATES OR OTHER REPRESENTATIVES, WHETHER SOUNDING IN CONTRACT, STATUTE OR TORT, INCLUDING FRAUD, MISREPRESENTATION, FRAUDULENT INDUCEMENT, OR ANY OTHER LEGAL OR EQUITABLE THEORY AND REGARDLESS OF THE DATE OF ACCRUAL OF SUCH CLAIM, CONTROVERSY OR DISPUTE SHALL BE RESOLVED BY FINAL AND BINDING ARBITRATION AS PRESCRIBED IN THIS SECTION. THE FEDERAL ARBITRATION ACT, NOT STATE LAW, GOVERNS THE QUESTION OF WHETHER A CLAIM IS SUBJECT TO ARBITRATION. HOWEVER, NOTHING CONTAINED IN THIS ARBITRATION PROVISION SHALL PRECLUDE THE CUSTOMER FROM RESOLVING ANY CLAIM, CONTROVERSY OR DISPUTE IN SMALL CLAIMS COURT HE OR SHE WOULD OTHERWISE WOULD HAVE A RIGHT TO PURSUE. A single arbitrator engaged in the practice of law will conduct the arbitration. The arbitrator will be selected in accordance to the rules of the American Arbitration Association or may be selected by agreement of the parties, who shall cooperate in good faith to select the arbitrator. The arbitration will be conducted by, and under the then applicable rules of the American arbitration Association. Any required hearing fees and costs shall be paid by the parties as required by applicable rules or as required by applicable law, but the arbitrator shall have the power to apportion such costs as the arbitrator deems appropriate. THE ARBITRATOR’S DECISION AND AWARD WILL BE FINAL AND BINDING, AND JUDGMENT ON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN ANY COURT WITH JURISDICTION. If any party files a judicial or administrative action asserting a claim that is subject to arbitration and another party successfully stays such action or compels arbitration, the party filing that action must pay the other party’s costs and expenses incurred in seeking such stay or compelling arbitration, including attorney fees. THIS AGREEMENT IS GOVERNED BY AND MUST BE CONSTRUED UNDER THE LAWS OF THE STATE OF KENTUCKY, WITHOUT REGARD TO CHOICE OF LAW PRINCIPLES AND YOU AGREE

TO SUBMIT YOURSELF TO THE PERSONAL JURISDICTION OF THE COURTS IN THE STATE OF KENTUCKY. GENERAL – If either of us does not enforce any right or remedy available under this Agreement, that failure is not a waiver of the right or remedy for any other breach or failure by the other party. Our waiver of any requirement in any one instance is not a general waiver of that requirement and does not amend this Agreement. If any part of this Agreement is held invalid or unenforceable, that part is interpreted consistent with applicable laws as nearly as possible to reflect the original intentions of the parties and the rest of this Agreement remains in full force and effect. The provisions of this Agreement that are contemplated to be enforceable after the termination of this Agreement survive termination of this Agreement. Readers are advised that the commentary and information on this Service are issued solely for information purposes only. The opinions and analyses included herein are based from sources believed to be reliable and written in good faith, but no representation or warranty, expressed or implied is made as to their accuracy, completeness or correctness. YOU SHOULD VERIFY ALL CLAIMS AND DO YOUR OWN RESEARCH BEFORE INVESTING IN ANY SECURITY INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A HIGH DEGREE OF RISK. YOU MAY LOSE PART OR ALL OF YOUR PRINCIPAL INVESTMENT. Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained on this Service should be independently verified with the companies mentioned. Neither ARL Advisers, LLC, nor its officers, directors, partners, contributors or employees/consultants, accept any liability whatsoever for any direct or consequential loss arising from any use of information on this webservice or any use of information in its newsletters.