Schaeffer's Legal Notice

Options involve risk. Prior to buying or selling an option, an investor should read and understand the booklet "Characteristics and Risks of Standardized Options." You can access and download a copy of the booklet on The Options Clearing Corporations' website. This reference is provided as a courtesy and does not imply that the OCC is endorsing SIR or its products. This booklet is also available for free from your broker or from any of the U.S. options exchanges.

Prior to buying or selling a future, an investor should read and understand the booklet "Security Futures: An Introduction to Their Use and Risks." You can access and download a copy of the booklet at the National Futures Association website. This reference is provided as a courtesy and does not imply that the National Futures Association is endorsing SIR or its products. This booklet is available from your broker or from any of the US Futures Exchanges.

We encourage our readers to invest carefully and to utilize the information available at the websites of the Securities and Exchange Commission and the Financial Industry Regulatory Authority. You can review public companies' filings at the SEC's EDGAR page. FINRA has published information on how to invest carefully on its website.

Terms of Service

This Subscriber Agreement ("Agreement") between Subscriber ("You") and Schaeffer's Investment Research, Inc. ( www.schaeffersresearch.com ) ("SIR", "we", "us", or "our") governs your access to and use of SIR's information services and web sites (collectively referred to as "the Website"), including any document, content, services, functions or features accessible on or through SIR (the "Service"). This Agreement takes effect you use the Service (the "Effective Date"). You represent to us that you are lawfully able to enter into contracts (e.g., you are not a minor).

Your use of the Website and/or the Services is subject to the terms and conditions hereof. Notwithstanding any other agreement or other communications between SIR and Subscriber to the contrary, receipt or use of any material provided by SIR, at any time and through any means, whether directly or indirectly, represents acknowledgement by such person of this Agreement with its terms and conditions. You represent that you are 18 years of age or older and of legal age to enter into a binding agreement. The Website is intended for use by those who are eighteen (18) years of age or older only. If you are not 18 years of age or older, you are prohibited from using the Website without the accompaniment and supervision of a parent or legal guardian. If you are a parent or legal guardian, you agree that you will monitor and supervise the use of the Website by children, minors, and others under your care, and you agree to be responsible for their use of the Website. Any use of the Website by persons under 18 years of age and without parental consent will result in immediate termination of their use of the Website.

BY SIGNING UP FOR OR USING THE WEBSITE AND/OR SERVICES, THE SUBSCRIBER ACCEPTS ALL OF THESE TERMS (the "TERMS OF SERVICE"). USE OF SIR WEBSITE AND/OR SERVICES WILL CONSTITUTE THE SUBSCRIBER'S ACCEPTANCE OF ALL OF SUCH TERMS OF SERVICE. IF YOU DO NOT AGREE TO THESE "TERMS OF SERVICE," PLEASE DO NOT USE SIR SERVICES OR WEBSITE.

The Terms of Service for your continued use of SIR Services and Website will be available at https://www.schaeffersresearch.com/terms/ and accessible from your My Account Profile page. Please check this area whenever a change has been indicated. Changes to the Terms of Service posted on your My Account Profile page is an effective notice to the Subscriber of the change in such terms and conditions. Your continued use of SIR's Website and/or Services after such changes in the Terms of Service will signify your acceptance of the change in the terms and conditions. If you do not agree to these changes in the Terms of Service as they may occur, please arrange to terminate your subscriptions with us immediately (i) by notifying us of your unwillingness to accept the changes to the Terms of Service and (ii) by discontinuing your use of the Website and Services.

NOTICE: THIS AGREEMENT REQUIRES ALL DISPUTES TO BE RESOLVED BY WAY OF BINDING ARBITRATION. THE TERMS OF THE ARBITRATION PROVISION APPEAR AT THE END OF THIS AGREEMENT.

1. Use of Services.

1.1 Generally. You may access and use the Service and Website in accordance with this Agreement. You will adhere to all laws, rules, and regulations applicable to your use of the Service.

1.2 Your My Account Page. To access the Service, you must create an account associated with a valid e-mail address. You can create an account to access the Service on your subscription start date. You may only create one account per email address. You are responsible for all activities that occur under your account, regardless of whether the activities are undertaken by you or a third party (including a spouse) and, except to the extent caused by our breach of this Agreement, we and our affiliates are not responsible for unauthorized access to your account. You will contact us immediately if you believe an unauthorized third party may be using your account or if your account information is lost or stolen. You may terminate your account and this Agreement at any time in accordance with Section 6.

1.3 Third-Party Submissions. All submissions from outside contributors on SIR's Website are the responsibility of their respective authors, creators, and/or owners. SIR is not responsible for such submissions, and the views and opinions expressed are not necessarily those of SIR. SIR does not guarantee the accuracy or validity of the submissions. While SIR may use its best efforts to review contributor submissions for form and format before they are posted on our Website, SIR does not review or edit these submissions for content. SIR makes no representations and provides no warranties whatsoever concerning submissions, and the fact that SIR has posted these outside contributions does not constitute an endorsement, authorization, sponsorship, or affiliation by SIR with respect to the author, creator and/or owner of the submissions. SIR expressly disclaims any responsibility and accepts no liability for any information or content provided in these submissions. Please be advised that submissions may be protected by federal and international copyright or other laws, and your right to reprint, republish, modify, reproduce, or distribute this material may be limited accordingly.

Furthermore, SIR does not endorse, guarantee, or warranty any third-party products advertised on its Website, in its newsletters, in any sponsored email communication, or otherwise referenced in any information provided by SIR or derived from SIR's Website, and SIR expressly disclaims any responsibility and accepts no liability with respect to such information and products. SIR may receive a fee from a third-party advertiser that is referenced in the information provided by SIR. Any links provided to other websites are offered as a matter of convenience and in no way are meant to imply that SIR endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorses or warrants any information contained on those sites, unless expressly stated.

1.4 Copyright. Except as otherwise indicated, SIR is the copyright owner of all text and graphics contained on this website. Other parties' trademarks and service marks that may be referred to herein are the property of their respective owners. YOU MAY NOT MODIFY, COPY, REPRODUCE, REPUBLISH, UPLOAD, POST, TRANSMIT, SHARE, OR DISTRIBUTE, IN ANY MANNER, THE MATERIAL ON THE SITE, OR RECEIVED THROUGH THIS SERVICE, INCLUDING BUT NOT LIMITED TO VIDEOS, AUDIOS, TEXT, PRINTED MATERIAL, GRAPHICS, CODE AND/OR SOFTWARE. You may print and download portions of material from the different areas of the Website solely for your own non-commercial use provided that you agree not to change, or delete any copyright or proprietary notices from the materials. or link to this website, without prior written permission of SIR. Permission to use and reproduce documents and related graphics available from this website is granted, provided that: 1. the below copyright notice appears in all copies and that both the copyright and this permission notice appear; 2. use and reproduction of documents and related graphics available from this website is limited to personal, non-commercial use; 3. no documents or related graphics, including logos, available from this website are modified in any way; and 4. no graphics, including logos, available from this website are used separate from accompanying text. Use or reproduction for any other purpose is expressly prohibited by law, and may result in civil and criminal penalties. Violators will be prosecuted to the maximum extent possible.

"10 Days to Successful Options Trading" and "Profitable Options Trading Principles" are copyright 2024, Schaeffer's Investment Research. All rights reserved.

1.5 Trademarks. Publications, products, content or services referenced herein or on the Website are the exclusive trademarks or servicemarks of SIR. Specifically, Expectational Analysis® and the "three circle" graphic representing Expectational Analysis® are trademarks™ of SIR. Other product and company names mentioned in the Site may be the trademarks of their respective owners.

1.6 Communications, Consent, and Monitoring. SIR monitors and records all telephone calls made to or from its offices in compliance with Federal Trade Commission guidelines. When You submit an order (free or paid), Subscriber completes a digital signature in which Subscriber is agreeing to receive text messages, email messages, and phone calls from SIR. Subscriber has provided digital signature expressly consenting to recurring contact from SIR at the contact information provided regarding products or services via telephone call, text message, or email. Subscriber was informed that their telephone company may impose charges on them for these contacts, and customer is not required to consent to text messages as a condition of purchasing this subscription. Customer may revoke this consent at any time by emailing service@sir-inc.com.

If You decide to use the Schaeffer's Text Alert Service (Text Alerts), You assumes the financial responsibilities of the mobile phone account through which the Text Alerts is being sent. Schaeffer's is not responsible for entities or individuals claiming that they did not authorize the use of their mobile phone for Text Alerts. Your mobile carrier's standard messaging and data rates may apply to the text messages we send to you and the text messages you send to us. Schaeffer's does not charge you for receiving or sending text messages through Text Alerts. Schaeffer's has no responsibility or liability in respect of any messaging fees, data charges or other charges charged by your mobile carrier for your use of Text Alerts or for any other loss or damage which may be caused by your use of Text Alerts. Schaeffer's is not liable for any delays or failures in the receipt of any text messages sent to or from you in connection with Text Alerts. Delivery depends on effective transmission by your mobile carrier. We provide Text Alerts on an "as is" basis. Please continue to use your My Account page on the Website as the primary means of managing your trade recommendations.

If at any time, now or in the future, you elect to cancel your usage of Text Alerts, you can stop communications by replying "STOP" and/or by contacting Customer Service at service@sir-inc.com. You will not receive further communication concerning your trades, including closeout instructions, if your subscription is not active at the time we issue follow-up instructions.

1.7 Links to Third Party Sites. The Website may contain links to third-party websites or other resources, which we may have no direct control and all of which may have their own set of rules and guidelines for usage of their sites and services. SIR does not endorse, and we shall not be responsible or liable for, any content, advertising, products, or other materials on or available from such sites or resources.

For your protection, please refer to the terms of service and privacy policies of those respective websites. You acknowledge, understand, and agree that SIR shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of, or reliance on, any such content, goods, or services available on such other websites. SIR shall not be liable for any errors or delays in the content, goods, or services available on such other websites, or for any actions taken or not taken in reliance thereon. The links are provided "as is" and use of such links is at your own risk.

2. Changes.

We may, in our sole discretion, change, discontinue, or deprecate any aspect of the Service (including the Service as a whole) or change or remove features or functionality of the Service from time to time. We will notify you of any material change to or discontinuation of the Service. SIR limits the number of subscribers allowed in any single Service in order to reduce the risk that too many traders will attempt identical trades and influence the market by causing the purchase of an excessive number of contracts.

3. Data Privacy.

You consent to our collection, use and disclosure of information associated with the Service in accordance with our Privacy Policy.

4. Fees and Payment.

4.1 Payment. SIR will charge for the Services you authorize to the credit card provided by you. SIR also offers alternative payment methods. You agree to make all payments associated with your account and in consideration of your access to the Website and Services. Your initial Payment will occur at the time of registration and recurring subscription payments may be charged thereafter if predetermined at the point of sale.

4.2 Credit Card Authorization. By authorizing SIR to charge a credit card for the fees associated with your Service, you are authorizing SIR to automatically continue charging that card (or any replacement card if the original card is renewed, lost, stolen, or changed for any reason by the card issuer, and the issuer informs SIR of the new replacement card account) for all fees or charges associated with your subscription to the Service including any renewal fees as described below. Credit cards that are declined for any reason are subject to a thirty-dollar ($30.00) declination fee. SIR may elect to interrupt ongoing Service for fees that decline until Subscriber has provided sufficient payment.

4.3 Cancellations and Refunds. Due to the exclusive nature of Schaeffer's Investment Research's services, any applicable subscription fees are non-refundable. Since Services are non¬-tangible, irrevocable, digital goods; we do not issue refunds, which you are solely responsible for understanding. You can cancel future recurring subscription payments at any time from your My Account Profile page. Any payments that have already been processed are non-refundable.

Your Service may convert to a full monthly subscription at the end of your trial period unless cancelled. You can cancel future recurring subscription payments at any time from your My Account Profile page. Terminating your Service disables future automatic renewal. It does not change the status of any past or current invoices. All payments previous are non-refundable. You will continue to have access to the Service until the expiration of your prepaid time period or trial period.

4.4 Changes in Price. SIR may, at any time, change the price of the Service or any part thereof, or institute new charges or fees. Price changes and institution of new charges implemented during an existing subscription term for the Service will apply to subsequent subscription terms and to all new members after the effective date of the change. If you do not agree to any such price changes, then you must cancel your account and stop using the Service. Your continued use of the Service after the effective date of any such change shall constitute your acceptance of such change.

4.5 Trial Abuse. You are entitled to ONE trial period. Our system automatically checks if you have already signed up for a trial. If it is found that you are abusing the trial system, your trial period will be removed from future accounts and will be transitioned to a normal non-trial account with associated fees.

4.6 Fee Disputes. You agree that if there are problems or questions regarding the Service that you will contact SIR for assistance and not dispute any charges from SIR unless you terminate for breach as provided in this Agreement. You agree to inform SIR of any credit card information changes, including expiration date. You represent and warrant that you are legally authorized to enter into Agreement including use of the credit associated with the account.

5. Temporary Suspension.

5.1 Generally. We may suspend your right to access or use any portion or all of the Service immediately upon notice to you if we determine:

(a) your use of or registration for the Service (i) poses a security risk to the Service or any third party, (ii) may adversely impact the Service or the systems or Content of any other SIR customer, (iii) may subject us, our affiliates, or any third party to direct or indirect liability (e.g. breach of confidentiality or non-disparagement), or (iv) may be fraudulent;

(b) you are in breach of this Agreement; or

(c) you have ceased to operate in the ordinary course, made an assignment for the benefit of creditors or similar disposition of your assets, or become the subject of any investigation by any agency on your trading or other securities related activities, bankruptcy, reorganization, liquidation, dissolution or similar proceeding.

5.2 Effect of Suspension. If we suspend your right to access or use any portion or all of the Service:

(a) you remain responsible for all fees and charges you agreed to as of the Effective Date; and

(b) you will not be entitled to any credit for any period of suspension.

Our right to suspend your use the Service is in addition to our right to terminate this Agreement pursuant to Section 6.2.

6.Term; Termination.

6.1 Term. The term of this Agreement will commence on the Effective Date and will remain in effect until terminated by you or us in accordance with Section 6.2.

6.2 Termination for Cause.

(a) By Either Party. Either party may terminate this Agreement for cause upon ten (10) days advance written notice to the other party if there is any material default or breach of this Agreement by the other party, unless the defaulting party has cured the material default or breach within the 10-day notice period.

(b) By Us. At our sole discretion, we reserve the right to revoke a user's membership without prior notice or justification. Such revocation may occur if the user is found to be in violation of our terms and conditions, engages in any activity that poses a threat to the security, integrity, or reputation of our Services and/or Website, or otherwise behaves in a manner that we deem inappropriate or harmful to our community. In the event of membership revocation, the user will be denied access to our Services and all associated benefits. We shall not be held liable for any losses or damages incurred as a result of the membership revocation.

(c) By You. Subscriber may terminate Service per the unique terms provided on every Order Confirmation Email outlining termination options for refundability.

6.3 Effect of Termination.

Generally, upon any termination of this Agreement:

(a) all your rights under this Agreement immediately terminate;

(b) you remain responsible for all fees and charges pursuant to Section 4; and

(d) Sections 4.1, 4.2, 4.6, 6.3, 7 (except the license granted to you in Section 7.4), 8, 9, 10, 11, 12, and 13 will continue to apply in accordance with their terms.

7. Proprietary Rights.

7.1 Service License. As between you and us, we own and reserve all right, title, and interest in and to the Service. We grant you a limited, revocable, non-exclusive, non-sublicensable, non-transferrable license to do the following during the Term: (i) access and use the Services solely in accordance with this Agreement; and (ii) use the SIR content solely in connection with your permitted use of the Services. Except as provided in this Section 7.3, you obtain no rights under this Agreement from us or our licensors to the Service, including any related intellectual property rights.

7.2 License Restrictions. You may not use the Service in any manner or for any purpose other than as expressly permitted by this Agreement. You may not, or may not attempt to: (a) modify, alter, tamper with, or otherwise create derivative works of any intellectual property included in the Service, (b) reverse engineer, disassemble, or decompile the Service, (c) access or use the Service in a way intended to avoid incurring fees,(d) resell or sublicense the Service, (e) copy the look-and-feel or functionality of the SIR Marks or SIR Website; (f) remove any SIR Marks without our prior written consent; (g) use, redistribute, encumber, sell, rent, lease, sublicense, or otherwise transfer rights to, and/or exploit, the Services for commercial purposes, or in a commercial manner; or (g) use our Service in any way that is not in compliance with all applicable laws, regulations and government authorizations, including but not limited to securities laws, export control, copyright, trademarks, secrecy, defamation, decency, and privacy related laws, regulations and authorizations. All licenses granted to you in this Agreement are conditional on your continued compliance with this Agreement, and will immediately and automatically terminate if you do not comply with any term or condition of this Agreement. During and after the Term, you will not assert, nor will you authorize, assist, or encourage any third party to assert, against us or any of our affiliates, customers, vendors, business partners, or licensors, any patent infringement or other intellectual property infringement claim regarding any Service you have used.

7.3 Suggestions. If you provide any suggestions to us or our affiliates, we will own all right, title, and interest in and to the suggestions, even if you have designated the suggestions as confidential. We and our affiliates will be entitled to use the suggestions without restriction. You hereby irrevocably assign to us all right, title, and interest in and to the suggestions and agree to provide us any assistance we may require to document, perfect, and maintain our rights in the suggestions.

8. Indemnification.

8.1 General. You will defend, indemnify, and hold harmless us, our affiliates and licensors, and each of their respective employees, officers, directors, and representatives from and against any claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of, relating to, or concerning: (a) your use of the Service; (b) breach of this Agreement or violation of applicable law by you; or (c) a dispute between you and a third party. If we or our affiliates are obligated to respond to a third-party subpoena or other compulsory legal order or process described above, you will also reimburse us for reasonable attorneys' fees, as well as our employees' and contractors' time and materials spent responding to the third-party subpoena or other compulsory legal order or process at our then-current hourly rates.

To the extent not prohibited by law, Subscriber agrees, as a condition precedent to accessing or using SIR's Website or Services, to release and hold harmless SIR and its directors, officers, shareholders, employees and agents from any and all liability in connection with accessing or using SIR's Website or Services. In all other cases, SIR's liability to a subscriber, whether in contract, tort, negligence, or otherwise, shall be limited in the aggregate to direct and actual damages of the subscriber, not to exceed the fees received by SIR from the subscriber. SIR will not be liable for any consequential, incidental, punitive, special, exemplary or indirect damages resulting directly or indirectly from the use of or reliance upon any material provided by SIR or derived from SIR's website. Without limitation, SIR shall not be responsible or liable for any loss or damages related to, either directly or indirectly, (1) any decline in market value or loss of any investment; (2) a subscriber's inability to use or any delay in accessing SIR website or any other source of material provided by SIR; (3) any absence of material on SIR website; (4) SIR's failure to deliver or delay in delivering any material or (5) any kind of error in transmission of material. SIR and each subscriber acknowledge that, without limitation, the above-enumerated conditions cannot be the probable result of any breach of any agreement between SIR and the subscriber.

8.2 Process. We will promptly notify you of any claim subject to Section 8.1, but our failure to promptly notify you will only affect your obligations under Section 9.1 to the extent that our failure prejudices your ability to defend the claim. You may: (a) use counsel of your own choosing (subject to our written consent) to defend against any claim; and (b) settle the claim as you deem appropriate, provided that you obtain our prior written consent before entering into any settlement. We may also assume control of the defense and settlement of the claim at any time.

9. Disclaimers.

9.1 General. THE SERVICE IS PROVIDED "AS IS." WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, REGARDING THE SERVICE OR THE THIRD PARTY CONTENT, INCLUDING ANY WARRANTY THAT SERVICES WILL BE UNINTERRUPTED, ERROR FREE OR FREE OF HARMFUL COMPONENTS, OR THAT ANY CONTENT WILL BE SECURE OR NOT OTHERWISE LOST OR DAMAGED. EXCEPT TO THE EXTENT PROHIBITED BY LAW, WE DISCLAIM ALL WARRANTIES, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE, WORKMANLIKE EFFORT, NON-INFRINGEMENT, OR QUIET ENJOYMENT, AND ANY WARRANTIES ARISING OUT OF ANY COURSE OF DEALING OR USAGE OF TRADE.

The information on the Website may contain typographical errors or inaccuracies, and may not be complete or current. We therefore reserve the right to correct any errors, inaccuracies, or omissions, and to change or update information at any time without prior notice. Please note that such errors, inaccuracies, or omissions may relate to service descriptions, pricing, and availability. We also reserve the right to limit the scope of services (including after you have submitted your request).

9.2 Financial and Other. NEITHER SIR, INDIVIDUALLY, NOR ITS WEBSITE, NOR ANY OF ITS OFFICERS, EMPLOYEES, REPRESENTATIVES, AGENTS, INDEPENDENT CONTRACTORS, OR SUBCONTRACTORS ARE, IN SUCH CAPACITIES, LICENSED FINANCIAL ADVISORS, REGISTERED INVESTMENT ADVISORS, OR REGISTERED BROKER-DEALERS UNLESS OTHERWISE EXPRESSLY PROVIDED.

SIR is not registered as an investment adviser. SIR relies upon the "publishers' exclusion" from the definition of investment adviser under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws. As such, SIR does not offer or provide personalized advice of any kind. We publish information about companies in which we believe our readers may be interested and this information reflects our sincere opinions. The information that we provide or that is derived from our Website is not intended to be, and should not be construed in any manner whatsoever as, personalized advice. Also, our Website and the information provided by us in Services should not be construed by any subscriber or prospective subscriber as SIR's solicitation to effect, or attempt to effect, any transaction in a security. Investments in the securities markets, and especially in options and futures, are speculative and involve substantial risk. The information that we provide in our Services or that is derived from our Website should not be a substitute for advice from an investment professional. We encourage you to obtain personal advice from your professional investment advisor and to make independent investigations before acting on the information that you obtain from SIR or derive from our Website. Only you can determine what level of risk is appropriate for you. You must consider all relevant risk factors, including your own personal financial situation, before trading. You assume the risk of any and all financial investments you make. SIR is not responsible for any financial investments you make.

The terms "Recommendation Services," "Research Services," "Education Products," "Bulletins" and "Newsletters" all refer to categories of publications by Schaeffer's Investment Research, Inc. These publications are not to be confused with individualized investment advice. Please consult with an investment professional, such as your broker or investment advisor, for specific investment and money management advice tailored to your personal objectives and resources.

The information contained on our Website is provided for general informational purposes, as a convenience to our users and subscribers. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation. Consult the appropriate professional advisor for more complete and current information. SIR is not engaged in rendering any legal or professional services by placing these general informational materials on this website.

SIR MAKES NO REPRESENTATIONS OR WARRANTIES ABOUT THE ACCURACY OR COMPLETENESS OF THE INFORMATION PROVIDED IN CONNECTION WITH THE SERVICE OR THE WEBSITE. NO INFORMATION PROVIDED BY SIR, INCLUDING BUT NOT LIMITED TO BERNIE SCHAEFFER, IS INTENDED AS SECURITIES BROKERAGE, INVESTMENT, TAX, ACCOUNTING OR LEGAL ADVICE, AS AN OFFER OR SOLICITATION OF AN OFFER TO SELL OR BUY, OR AS AN ENDORSEMENT, RECOMMENDATION OR SPONSORSHIP OF ANY COMPANY, SECURITY OR FUND OR AS ADVICE TAILORED TO YOUR OR ANY SUBSCRIBER'S PARTICULAR SITUATION. ANY URL LINKS OR COMPANY NAMES OR TICKER SYMBOLS ARE OFFERED AS A MATTER OF CONVENIENCE AND NOTHING CONTAINED IN THIS AGREEMENT OR IN THE SERVICE CONSTITUTES A SOLICITATION, RECOMMENDATION, PROMOTION, ENDORSEMENT, OR OFFER BY SIR OF ANY PARTICULAR SECURITY, TRANSACTION, OR INVESTMENT.

SIR's Website and Services contain references to publicly traded companies. SIR has no affiliation with these companies and does not benefit in any manner from related recommendations in its publications.

Most of the information on our Website or that we provide via Services is derived directly from information published by the companies on which we report and/or from other sources we believe are reliable, without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. The information may contain discussions of, or provide access to, certain positions and recommendations as of a specific date. Due to various factors, including, but not limited to, changing market conditions, such discussions and positions/recommendations may no longer be reflective of current discussions and positions/recommendations. We do not in any way warrant or guarantee the success of or endorse any action which you take in reliance on the information that we provide or that is derived from our website.

Our personnel may own positions and/or trade in the securities mentioned in the information that we provide. However, SIR's policies prohibit all employees of SIR from engaging in any securities transaction that directly or indirectly competes with the interests of our subscribers that are actually known to SIR. We are not compensated in any way for publishing information about companies mentioned in our reports.

Performance figures are based on actual recommendations made by SIR. Due to the time critical nature of stock, options and futures trading, brokerage fees, and the activity of other subscribers, SIR cannot guarantee that subscribers will mirror the exact performance stated on our track records or promotions. Performance numbers shown are based on trades subscribers could enter based on our tracking guidelines. Results vary and past results are not necessarily indicative of future performance. Therefore, no subscriber or potential subscriber should assume or expect that future performance of any investment or strategy will be profitable or equal historical or anticipated performance levels. The information contained in SIR Services is intended for use solely by individual subscribers and is not offered to institutional investment organizations.

SIR is not affiliated with any brokerage firm and does not endorse or recommend any specific brokerage firm. SIR is not and will not be responsible for any trades made by a broker on the subscriber's behalf under any circumstances. Brokerage firms also have different levels of approval required for different types of options strategies. It is the responsibility of the subscriber to confirm to approval for trading levels related to SIR services directly with the subscriber's brokerage prior to any subscription purchase. SIR will not be involved in the relationship between a subscriber and his/her brokerage.

10. Limitations of Liability.

SIR WILL NOT BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES (INCLUDING DAMAGES FOR LOSS OF INVESTMENTS, PROFITS, GOODWILL, USE, OR DATA), EVEN IF A PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. FURTHER, WE WILL NOT BE RESPONSIBLE FOR ANY COMPENSATION, REIMBURSEMENT, OR DAMAGES ARISING IN CONNECTION WITH: (A) YOUR INABILITY TO USE THE SERVICES, INCLUDING AS A RESULT OF ANY (I) TERMINATION OR SUSPENSION OF THIS AGREEMENT OR YOUR USE OF OR ACCESS TO THE SERVICE, (II) OUR DISCONTINUATION OF ANY OR ALL OF THE SERVICE, OR, (III) ANY UNANTICIPATED OR UNSCHEDULED DOWNTIME OF ALL OR A PORTION OF THE SERVICE FOR ANY REASON, INCLUDING AS A RESULT OF POWER OUTAGES, SYSTEM FAILURES OR OTHER INTERRUPTIONS; (B) ANY INVESTMENTS, EXPENDITURES, OR COMMITMENTS BY YOU IN CONNECTION WITH THIS AGREEMENT OR YOUR USE OF OR ACCESS TO THE SERVICE; OR (C) ANY FORM OF NEGLIGENCE ON OUR PART. IN ANY CASE, OUR AGGREGATE LIABILITY UNDER THIS AGREEMENT WILL BE LIMITED TO THE AMOUNT YOU ACTUALLY PAY US UNDER THIS AGREEMENT FOR THE SERVICE THAT GAVE RISE TO THE CLAIM DURING THE 12 MONTHS PRECEDING THE CLAIM.

11. Confidentiality; Publicity; Non-Disparagement; Restrictions.

11.1 Confidentiality. You may use SIR's Confidential Information only in connection with your use of the Service as permitted under this Agreement. You will not disclose SIR Confidential Information during the term or at any time during the five (5) year period following the end of the term. Notwithstanding anything to the contrary herein this Agreement, your obligations under this Agreement with regards to SIR's trade secrets shall continue in effect until such time as such trade secret ceases to be a trade secret in accordance with applicable law. You will take all reasonable measures to avoid disclosure, dissemination or unauthorized use of SIR Confidential Information, including, at a minimum, those measures you take to protect your own confidential information of a similar nature. The foregoing restrictions shall not apply to the extent you must defend yourself in an action related to this Agreement, or to respond to an investigation by a governmental agency initiated by that agency or to report any truthful incidents of illegal conduct directed at you to law enforcement.

11.2 Non-Disparagement. (Non-California Residents) The parties agree that during the term of this Agreement and for a period of twenty-four (24) months immediately following expiration or termination for any reason, whether with or without cause, each shall not, not to (i) make any statements, written or verbal, or cause or encourage others to make any statements, written or verbal, that defame, disparage or in any way criticize the personal or business reputation, practices, or conduct of the other or, as to SIR, its respective employees, officers, directors, managers, members and affiliates or with respect to you (ii) publish or attempt to publish any narrative, fictional or otherwise, concerning or based, in whole or in part, on SIR, without SIR's prior written consent or without leave of court. Each party acknowledges and agrees that this prohibition extends to statements, written or verbal, made to anyone, including but not limited to, the news media, investors, potential investors, any board of directors or advisory board or directors, industry analysts, competitors, strategic partners, vendors, employees (past and present), SIR subscribers, clients or potential clients.

11.3 Libel, Slander, Defamation, and Non-Protected Statements. The parties agree that during the term of this Agreement and for a period of twenty-four (24) months immediately following expiration or termination for any reason, whether with or without cause, each shall be held accountable and liable under applicable law if they cause to (i) make libelous, slanderous, defaming, statements, written or verbal, or cause or encourage others to make any false, misleading or otherwise non-protected, statements, written or verbal, that defame, disparage or in any way criticize the personal or business reputation, practices, or conduct of the other or, as to SIR, its respective employees, officers, directors, managers, and members or with respect to you (ii) publish or attempt to publish any narrative, fictional or otherwise, concerning or based, in whole or in part, on SIR, without SIR's prior written consent or without leave of court. Each party acknowledges and agrees that this extends to any false, misleading or otherwise non-protected, statements, written or verbal, that defame, or disparage made to anyone, including but not limited to, the news media, investors, potential investors, any board of directors or advisory board or directors, industry analysts, competitors, strategic partners, vendors, employees (past and present), SIR Website and/or Service users, clients or potential clients.

11.4 Restrictions. You will not:

(a) issue any written statements or communicate, directly or indirectly, in any mode or fashion, with any person, entity, organization, or agency regarding or concerning, including, without limitation, the use of anonymous email or other communications through a third party, with respect to this Agreement or your use of the Service including, but not limited to our proprietary methodology that underscores the Service. You will not misrepresent or embellish the relationship between us and you (including by expressing or implying that we support, sponsor, or endorse or your business endeavors), or express or imply any relationship or affiliation between us and you or any other person or entity except as expressly permitted by this Agreement.

(b) publish or attempt to publish on any website or to any third party any narrative, fictional or otherwise, concerning or based, in whole or in part, the Service or this Agreement without SIR's prior written consent or without leave of court; or

(c) interfere with SIR's (including its officers, managers, and employees) personal or business relationships concerning the Service or this Agreement.

11.5 Generally.

The Parties understand and agree that this Section 11 is a material provision of this Agreement and that any breach of this Section shall be a material breach of this Agreement, and that SIR would be irreparably harmed by any violation and that it would have no adequate remedy at law for such a violation. As such, you therefore consent to immediate injunctive relief by a court of competent jurisdiction as a remedy for any violation of these terms of the Agreement. You further acknowledge that any actions taken not in compliance with this Section are considered as purposefully directed at SIR and that any actions for alleged injuries arise out or relate to activities in connection violations of this Section.

12. Miscellaneous.

12.1 Force Majeure. We will not be liable for any delay or failure to perform any obligation under this Agreement where the delay or failure results from any cause beyond our reasonable control, including acts of God, labor disputes or other industrial disturbances, systemic electrical, telecommunications, or other utility failures, earthquake, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, or war.

12.2 No Third-Party Beneficiaries. This Agreement does not create any third-party beneficiary rights in any individual or entity that is not a party to this Agreement.

12.4 Notice. (a) To You. We may provide any notice to you under this Agreement by: (i) posting a notice on the SIR Website; (ii) sending a message to the email address then associated with your account; or (iii) contacting you via telephone number then associated with your account. Notices we provide by posting on the SIR Website will be effective upon posting and notices we provide by email will be effective when we send the email. It is your responsibility to keep your contact information (including email address and phone number) current. You will be deemed to have received any email sent to the email address then associated with your account when we send the email, whether or not you actually receive the email. You will be deemed to have received any voicemail left at the phone number then associated with your account when we call, whether or not you actually receive the voicemail.

(b) To Us. To give us notice under this Agreement, you must contact SIR as follows: (i) by facsimile transmission to (513) 589-3800; by email to service@sir-inc.com; or (ii) by personal delivery, overnight courier or registered or certified mail to Schaeffer's Investment Research, Inc., 5151 Pfeiffer Road, Suite 450, Cincinnati, OH 45242. We may update the facsimile number or address for notices to us by posting a notice on the SIR Site. Notices provided by personal delivery will be effective immediately. Notices provided will be effective three business days after they are sent.

12.5 Assignment. You will not assign this Agreement, or delegate or sublicense any of your rights under this Agreement, without our prior written consent. Any assignment or transfer in violation of this Section 12.5 will be void. Subject to the foregoing, this Agreement will be binding upon and inure to the benefit of the parties and their respective successors and assigns.

12.6 No Waivers. The failure by us to enforce any provision of this Agreement will not constitute a present or future waiver of such provision nor limit our right to enforce such provision at a later time. All waivers by us must be in writing to be effective.

12.7 Severability. If any portion of this Agreement is held to be invalid or unenforceable, the remaining portions of this Agreement will remain in full force and effect. Any invalid or unenforceable portions will be interpreted to effect and intent of the original portion. If such construction is not possible, the invalid or unenforceable portion will be severed from this Agreement but the rest of the Agreement will remain in full force and effect.

12.8 Procedures for Dispute Resolution/Arbitration Provision.

(a) Acknowledgment of Arbitration. To the extent not prohibited by law, You agree, as a condition precedent to accessing or using SIR's Website or Services provided by SIR, to the following arbitration provision. By accessing or using SIR's website or receiving Services provided by SIR, you acknowledge that you are giving up the right to litigate Claims (as defined below) if either party elects arbitration of the Claims pursuant to this provision, except as otherwise expressly provided herein, and you hereby knowingly and voluntarily waive the right to a trial by jury or to participate in a class action of any and all Claims subject to this Agreement. You further acknowledge that you have read this arbitration provision carefully, agree to its terms, and are entering into this Agreement voluntarily and not in reliance on any promises or representations whatsoever except those contained in this Agreement.

(b) Arbitration of Claims. Except as expressly provided herein, any claim, dispute, or controversy (whether based upon contract; tort, intentional or otherwise; constitution; statute; common law; or equity and whether pre-existing, present, or future), including initial claims, counter-claims, cross-claims, and third-party claims, arising from or relating to (i) any information contained on or derived from SIR's website; (ii) any Service provided by SIR; (iii) any information otherwise provided by SIR; (iv) this Agreement, including the validity, enforceability, interpretation, scope, or application of this Agreement and this arbitration provision (except for the prohibition on class or other non-individual claims, which will be for a court to decide); and (v) any other agreement or communication relating to information provided by SIR or any related Service ("Claim") will be decided, upon the election of you or SIR (or SIR's agents, employees, successors, representatives, affiliated companies, or assigns), by binding arbitration. Arbitration replaces the right to litigate a claim in court or to have a jury trial. The American Arbitration Association ("AAA") will serve as the arbitration administrator. You may obtain copies of the current rules, forms, and instructions for initiating an arbitration with the AAA by contacting the AAA as follows: online at https://www.adr.org or by writing to the AAA at: American Arbitration Association, Case Filing Services, 1101 Laurel Oak Road, Suite 100, Voorhees, NJ 08043.

(c) Other Claims Subject to Arbitration. In addition to Claims brought by either you or SIR, Claims made by or against anyone connected with you or SIR or claiming through you or SIR (including an employee, agent, representative, affiliated company, predecessor or successor, heir, assignee, or trustee in bankruptcy) will be subject to arbitration as described herein.

(d) Exceptions. Either you or SIR can seek to have a Claim resolved in small claims court if all the requirements of the small claims court are satisfied. Either you or SIR may seek to have a Claim resolved in small claims court in your county of residence or the small claims court in closest proximity to your residence.

(e) Individual Claims Only. Claims may be submitted to arbitration on an individual basis only. Claims subject to this arbitration provision may not be litigated or arbitrated on a class basis, in a representative capacity, on behalf of the general public, or on behalf of any other person, unless waived by SIR. SIR, its officers, directors, employees, agents, and affiliates are considered as one person. Nothing within the Agreement prohibits the AAA from assigning multiple similar Claims of any other person for decision before one arbitrator ("Panels") in the interest of administrative efficiency and/or cost efficiency.

(f) Arbitration Fees. If you initiate arbitration, payment of all filing, administration and arbitrator fees will be governed by the AAA Rules. You are required to pay AAA's initial filing fee, but SIR will reimburse you for this filing fee at the conclusion of the arbitration, but only to the extent it exceeds the fee for filing a complaint in a federal or state court nearest your residence with jurisdiction over the Claims. If the arbitrator finds that either the substance of your Claim or the relief sought in your Demand for Arbitration was frivolous or was brought for an improper purpose (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b) and/or AAA Consumer Arbitration Rule 44(c)), then the payment of all fees will be governed by the AAA Rules and SIR will not reimburse your initial filing fee. The parties agree that the AAA has discretion to modify the amount or timing of any intake, administrative or arbitration fees due under the AAA Rules where it deems appropriate, provided that such modification does not increase the AAA fees to you or SIR. The parties agree that the AAA should modify and reduce the intake, administrative and/or arbitration fees due under the AAA Rules where the AAA has assigned arbitrations in Panels to individual arbitrators. If SIR initiates or elects arbitration, SIR will pay the entire amount of the arbitration fees, including any required deposit.

(g) Notice of Claim. If you elect to seek arbitration, you must first send to SIR a written Notice of your Claim ("Notice of Claim"). The Notice of Claim to SIR should be sent in care of its registered agent: Katie Schaeffer, 5151 Pfeiffer Road, Suite 450, Cincinnati, Ohio 45242. The Notice of Claim should include both the mailing address and email address you would like SIR to use to contact you. If SIR elects to seek arbitration, it will send, by certified mail, a written Notice of Claim to your address on file. A Notice of Claim, whether sent by you or by SIR, must (a) describe the nature and basis of the claim or dispute; and (b) set forth the specific amount of damages or other relief sought. A Notice of Claim must only pertain to your Claims, and a single Notice of Claim may not pertain to any similar Claims of any other person.

You and SIR agree that good-faith informal efforts to resolve disputes often can result in a prompt, low-cost and mutually beneficial outcome. You and SIR therefore agree that, after a Notice of Claim is sent but before either you or SIR commence arbitration or file a claim in small claims court against the other, we will personally meet, via telephone or videoconference, in a good-faith effort to confer with each other and try to resolve informally any Claim covered by this Agreement. If you are represented by counsel, your counsel may participate in the conference as well, but you agree to fully participate in the conference. Likewise, if SIR is represented by counsel, its counsel may participate in the conference as well, but SIR agrees to have a company representative fully participate in the conference. The statute of limitations and any filing fee deadlines shall be tolled while the parties engage in the informal dispute resolution process required by this paragraph.

If we do not reach an agreement to resolve the Claim within sixty (60) days after the Notice of Claim is received, you or SIR may commence an arbitration proceeding by filing a Demand for Arbitration or, alternatively, by filing a Claim in small claims court. You agree that you may not commence any arbitration or file a claim in small claims court unless you and SIR are unable to resolve the claim within 60 days after we receive your completed Notice of Claim and you have made a good faith effort to resolve your claim directly with SIR during that time. If a Claim qualifies for small claims court, but a party commences an arbitration proceeding, you and SIR agree that either party may elect instead to have the Claim resolved in small claims court, and upon written notice of a party's election, the AAA will administratively close the arbitration proceeding. Any dispute about whether a Claim qualifies for small claims court shall be resolved by that court, not by an arbitrator. In the event of any such dispute, the arbitration proceeding shall remain closed unless and until a decision by the small claims court that the Claim should proceed in arbitration.

(h) Procedure. A single arbitrator will resolve the Claims. The arbitrator will be a lawyer with at least ten years' experience or who is a former or retired judge and will be selected by the parties from the AAA's National Roster of arbitrators. The arbitrator will be selected using the following procedure: (a) the AAA will send the parties a list of five candidates meeting this criteria; (b) if the parties cannot agree on an arbitrator from the list, each party shall return its list to the AAA within 10 days, striking up to two candidates for any reason or for no reason at all, and ranking the remaining candidates in order of preference; (c) the AAA shall appoint as arbitrator the candidate with the highest aggregate ranking; and (d) if for any reason the appointment cannot be made according to this procedure, the AAA may exercise its discretion in appointing the arbitrator. The arbitrator is bound by this Agreement. Except as otherwise provided below, all issues are for the arbitrator to decide, including issues relating to the scope and enforceability of this arbitration provision.

The arbitration will follow the AAA's rules and procedures in effect on the date the arbitration is filed, except when there is a conflict or inconsistency between the AAA's rules and procedures and this arbitration provision, in which case this arbitration provision will govern. Any in-person arbitration hearing for a Claim will take place within the federal judicial district in which you live or at such other reasonably convenient location as agreed by the parties. The arbitrator will apply applicable substantive law consistent with the Federal Arbitration Act, 9 U.S.C. §§ 1 et seq. (the "FAA"), and will honor all claims of privilege and confidentiality recognized at law. All statutes of limitations that would otherwise be applicable will apply to any arbitration proceeding. The arbitrator will be empowered to grant whatever relief would be available in court under law or in equity. Any appropriate court may enter judgment upon the arbitrator's award. This arbitration provision is made pursuant to a transaction involving interstate commerce and will be governed by the FAA.

This arbitration provision also applies to claims against SIR's employees, representatives and affiliates if any such claim arises from the Product's sale, condition or performance.

12.9 Advice of Counsel. EACH PARTY ACKNOWLEDGES THAT, IN EXECUTING THIS AGREEMENT, SUCH PARTY HAS HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND HAS READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT. THIS AGREEMENT SHALL NOT BE CONSTRUED AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION HEREOF.

12.10 Entire Agreement. This Agreement includes the Policies and is the entire agreement between you and us regarding the subject matter of this Agreement. This Agreement supersedes all prior or contemporaneous representations, understandings, agreements, or communications between you and us, whether written or verbal, regarding the subject matter of this Agreement. We will not be bound by, and specifically object to, any term, condition or other provision which is different from or in addition to the provisions of this Agreement (whether or not it would materially alter this Agreement) and which is submitted by you in any order, receipt, acceptance, confirmation, correspondence or other document. If the terms of this document are inconsistent with the terms contained in any Policy, the terms contained in this Agreement will control.

IF YOU DO NOT AGREE TO THESE "TERMS OF SERVICE," PLEASE DO NOT USE OUR WEBSITE OR SERVICES.