Site Usage Statement

Internet Arrow Limited ("Arrow") - a UK registered company, registration number 4313359, registered office being F1 Enterprise Park, Courtaulds Way, Coventry, CV6 5NX.

Your use of this site (& any services supplied directly by it) is subject to the terms of this Agreement ("Agreement"). It is a document setting forth the rights and obligations between you and "Arrow" (or "us"). You are not eligible to receive the services until you have accepted this Agreement. Please read this Agreement carefully. We reserve the right to change this Agreement. See Section 5 of the Agreement below for details. In this Agreement, "you" refers to the company or legal entity that registers to access and use the service, and any officers, directors, partners, personnel, or employees that access or use the site through that company or legal entity, whether or not such use is authorized.

1. Service. This Agreement applies to all services, programs, information and products that you use or otherwise access from time to time provided by Arrow through this site (collectively, the "Service"). You have been issued an User ID for logging onto the Service. All such codes, user identification numbers and other passwords or security items issued to you by Arrow from time to time are referred to herein as "Access Codes" or "Codes". You are solely responsible for the use and proper protection of the Codes. You agree to take all reasonable precautions to protect the security and integrity of the Codes, and to prevent their unauthorized use. You agree to be responsible for all actions taken that utilize your Codes, unless such actions are taken by Arrow, its contractors and agents without your approval. If you become aware of any unauthorized access or use of the Service with your Codes, you will immediately notify Arrow. When you obtained an User ID from Arrow, you represented to us that you are a legitimate employee or representative of a client Institution that deals with Arrow. You represent and warrant that the information you provided to us in obtaining the Code is accurate and complete. You also agree to notify us immediately at any time that information ceases to be accurate and complete.

2. Proprietary Rights of Arrow. You acknowledge and agree that Arrow exclusively owns or has been licensed by third parties to use all rights, title and interest in the Service and the information, data, databases, images, sound recordings, audio and visual clips and other content provided by Arrow through the Service (individually and collectively, the "content"). Nothing contained in this Agreement conveys to you any right, title or interest in or to the Service or any content. You shall not remove or modify any copyright or other notice placed on content. Internal distribution of content should be limited to those within your organization who are aware of the obligations imposed by this Agreement. You shall use the Service and content solely for your own internal use, and not for the benefit of any third party. In no event shall you display, circulate, publish, retransmit, redistribute, reproduce or sell all or any part of content outside of your business organization by any means or medium now or hereafter created.

3. Important Disclaimers Regarding content and Use Restrictions.

A. Global Use. Arrow makes no representations that content is appropriate for use in all locations, or that transactions, products, instruments or services discussed are available or appropriate for sale or use in all jurisdictions, or by all investors or counterparties.

B. No Offers. Under no circumstances should any content be used or considered as an offer to sell or a solicitation of any offer to buy the securities or any other instruments of Arrow or any other issuer. Offers can only be made where lawful under applicable law. If you wish to obtain further details about any information contained through this Service, we suggest that you contact a Arrow representative.

C. Disclosure of Interest. Arrow may make a market or deal as principal in the securities, commodities or instruments mentioned in materials through this Service or in options or other derivative instruments based thereon. In addition, Arrow, its shareholders, directors, officers and/or employees, may from time to time have long or short positions in such securities or in options, futures or other derivative instruments based thereon. One or more directors, officers and/or employees of Arrow may be a director of the issuer of the securities mentioned at this site. Arrow may have managed or co-managed a public offering of, or acted as initial purchaser or placement agent for a private placement of, any of the securities of any issuer mentioned on this Service, or may from time to time perform investment banking or other services for, or solicit investment banking or other business from, mentioned companies.

D. Pricing. Actionable prices can be obtained only on a real-time, expressly agreed upon basis. Any indicative valuations in the content are provided for information only. They are not an offer to enter into, transfer and assign or terminate any transaction, or a commitment by Arrow to make such an offer. An indicative valuation may differ substantially from an actionable value. Such estimates do not necessarily reflect Arrow's internal bookkeeping or theoretical model-based valuations. Certain factors which may not have been assessed for purposes of these valuations, including, for example, notional amounts, credit spreads, underlying volatility, costs of carry or use of capital and profit, may substantially affect a stated valuation. Indicative valuations may vary significantly from indicative valuations available from other sources. While Arrow has obtained the information on which these evaluations are based from sources it believes reliable, Arrow makes no representations or warranties with respect to any indicative valuations.

E. Hypothetical or Past Performance. Hypothetical or simulated performance results have inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are designed with the benefit of hindsight. Past performance is not indicative of future results; no representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

F. Linked Sites. Certain links are provided which may lead to websites maintained by third parties over which we have no control, including sites maintained by Arrow affiliates. To the extent permitted, we take no responsibility for the accuracy, content or any aspect of that material and disclaim any liability to you for such material or for any consequence of your decision to use the links provided or your use of such material. We also disclaim all liability and make no representations or warranties for any products or services sold or provided to you by any third party, including Arrow affiliates. Your purchase of products or services through one of those other sites is subject to agreements and/or the terms and conditions in effect between you and the providers of products and services at those other sites. You agree that you shall not bring a suit or claim against Arrow arising from or based on your purchase or use of products or services through those other sites.

G. Delayed Market Information. You acknowledge that some content available through the Service which appears to be in "real time" may in fact be delayed market information.

H. No Warranty. You acknowledge that the content provided through the Service is not intended to be a recommendation, offer or solicitation of any particular products or services. In addition, the content provided represents the views and opinions solely of the author or the indicated source. Arrow does not independently verify the accuracy or completeness of the content, nor does Arrow endorse any particular content or views expressed therein. We take no responsibility for the accuracy, content or any aspect of the content and disclaim any liability to you for the content or for any consequence of your decision to use the content. You agree that you shall independently confirm any information presented to you through the Service before relying on such information. Arrow and its employees, contractors, agents and various contributors to the Service have no duty to correct or update any inaccurate or out-of-date content.

I. Downloaded content. It is up to you to take precautions to ensure that information and content you download or otherwise select for you use is free of viruses and other destructive items.

4. Termination and Renewals. This Agreement remains in effect until terminated by you or Arrow. You may terminate this Agreement upon our receipt of your notice via e-mail or other written notice to Arrow. Arrow may terminate this Agreement or any Service, with or without cause, at any time immediately upon notice via e-mail or other written notice to the address you provide to us in the registration process. After the termination of this Agreement or a Service, you are not authorized to access or use the Service or content, and you shall cease all such access and use. If you nonetheless access or use the Service or content in spite of termination of the Agreement, your use of or access to the Service or content will be subject to the version of the Agreement then in effect as to all current authorized users.

5. Changes. Arrow may make changes to the Agreement. When we do, we will provide notice to you thirty (30) days in advance of the change. This notice will tell you where to go to view the changes to the Agreement. Changes will become effective no less than thirty days after the date we post or send the notice, unless the notice states a different effective date. It is your responsibility to check the Service, your mail and/or e-mail on a regular basis to receive important and timely notices from Arrow. You always have the right to terminate this Agreement, for any reason, at any time. If you no longer want to comply with this Agreement, you should terminate this Agreement. Arrow may also make changes to the Service and content. We reserve the right to do so without prior notice to you.

6. Compliance with Laws and Rules. You agree that you shall comply with applicable laws, rules, regulations, ordinances and other similar national and international requirements of the country, state and province in which you are accessing and using the Service and content.

7. Limitation of Liability. You acknowledge that neither Arrow nor any of its officers, directors, employees, agents, contractors or other suppliers makes any warranties or guarantees with respect to the Service and content, including without limitation, warranties regarding the accuracy or completeness of any content, and warranties of merchantability or fitness for a particular purpose. Arrow and such persons shall not be liable to you for any loss, cost, damage or other injury, whether in contract, tort, negligence or otherwise, (1) arising out of or caused in whole or in part by your or Arrow's or any such persons' use of or reliance on the service or its content, or (2) or in otherwise performing its obligation under or in connection with this Agreement. Arrow does not represent, warrant or guarantee that the Service or content will be free from errors or will be available at all times. Under no circumstances will Arrow or its partners, employees, agents, contractors or other suppliers be liable to you or any third party for any punitive, consequential, special or similar damages, even if advised of the possibility of such damage. Because some states or jurisdictions do not allow the exclusion or limitation of liability for certain damages, in such states or jurisdictions, the liability of Arrow, its partners, employees, agents, contractors or other suppliers shall be limited in accordance with this Agreement to the extent permitted by law. Arrow and its officers, directors, employees, agents, contractors or other suppliers shall not be liable for any loss, cost or damage due to causes beyond their control. You understand that Arrow accepts no responsibility for security of information on the Internet.

8. General. This Agreement does not confer any rights, remedies or benefits upon any person other than you and Arrow. This Agreement may only be amended by a written or electronic form duly accepted and agreed to by Arrow and you, or in the manner described in Section 5 above, and such amendment shall refer to this Agreement. You may not assign this Agreement without the prior written consent of Arrow. This Agreement shall be binding on and inure to the benefit of the parties and their respective successors and assigns. Sections 1, 2, 4, 6, 7 and 9 shall survive termination. Should any provision of this Agreement be held to be void, invalid, unenforceable or illegal by a proper legal authority, the validity and enforceability of the other provisions shall not be affected.

9. For Users in the U.S. - Compliance with Laws and Rules; Indemnity. You agree to abide by applicable export control laws and not to transfer, by electronic transmission or otherwise, any content subject to restrictions under such laws to a national destination prohibited under such laws, without first obtaining, and then complying with, any requisite government authorization. You further agree not to upload to the Service any data or software that cannot be exported without prior written government authorization, including, but not limited to, certain encryption software. This assurance and commitment shall survive termination of this Agreement. Offices, residents and operations of your organization in Cuba, Iran, Iraq, Libya, North Korea, Sudan, Syria and any other countries that are the subject of general U.S. embargo restrictions are not permitted to access and use the Service, and any such access and use is a violation of this Agreement.

You represent and warrant to Arrow that the information you provide to Arrow in the registration process and in other areas of the Service is true, accurate and complete. Upon request by Arrow, you hereby agree to defend, indemnify and hold harmless Arrow, its officers, directors, employees, agents, contractors or other suppliers from all liabilities, claims and expenses, including legal fees, that arise from a breach of this agreement for which you are responsible, or from the use of the Service or content. Arrow reserves the right to assume the exclusive defense and control of any matter otherwise subject to indemnification arising out of or caused in whole or in part by your or Arrow's or any such persons' use of or reliance on the service or its content by you.