401k patents, 401k copyrights and NASD license and 401k information

General comments

Regarding trademarks, patents and copyright

Regarding warranties

Regarding applicable laws

Regarding this website and sites linked to it

Regarding information you transmit to us (by any means)

Regarding mutual funds, self-directed brokerage accounts, investing, and NASD license information

Regarding general information

Regarding the End-User-License Agreement

Regarding 401(k) Pro Privacy Pledge

[topic 1]

While Pension Systems Corporation offers 401(k) Easy clients information to help them make informed decisions about the variable aspects of their 401k plans, Pension Systems Corporation is not a financial advisor and should not be considered as such. Companies are strongly advised to consult with a professional tax and/or investment advisor before establishing a company 401k -- or any other retirement savings plan, for that matter. All of the information in this website is for informational purposes only. All viewers agree to these provisions in viewing any of the information in this website.

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[topic 2]

The 401(k) Easy software is both patented (US Patent 6041313) and patent pending in the United States and Canada. Pension Systems Corporation, 401(k) Easy, and 401(k) Easy Pro, Advisors 401(k), Run-It-Yourself, Payroll IRA Easy, 401(k) E Z, Pension Motor Corporation, Quik-Tab 401(k), Pension Service Associates, 403(b) Easy, and Pentec, Inc. are Registered Trademarks.

The Software, Publications and Support are provided by Pension Systems Corporation for Licensee's exclusive use pursuant to the terms of terms in the Pension Systems Corporation End-User License Agreement. Pension Systems Corporation claims copyright and trademark protection for all Software and copyright for all Publications and Videos. Should the End-User License Agreement be terminated for any reason, the right of Licensee to use Pension Systems Corporation-supplied Software, Publications and Support shall be revoked. Unauthorized use of Software and/or Publications constitutes copyright infringement, subjecting violator(s) to both civil and criminal penalties under federal law.

This website and all Pension Systemss Corporation software, publications and videos are protected by claim of copyright.

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[topic 3]

All material is provided "as is"" without any expressed or implied warranty of any kind, including warranties of merchantability, non infringement, of intellectual property or fitness for a particular purpose. The 60-day money-back guarantee on the 401(k) Easy system does not apply to one-time setup costs.

In no event shall Pension Systems Corporation or its affiliated companies be liable for any damages whatsoever (including, without limitation, damages for loss of profits, business interruption and/or loss of information) arising out of the use of or inability to use the materials, even if Pension Systems Corporation has been advised of the possibility of such damages; because some jurisdictions prohibit the exclusion or limitation of liability for consequential or incidental damages; such a limitation may not apply to you.

-- Pension Systems Corporation cannot warrant the accuracy or completeness of its website's information, text, graphics, links or other items.

-- Pension Systems Corporation may make changes to any aspect of this website at any time.

-- Pension Systems Corporation makes no commitment to update this website at any time.

Pension Systems Corporation has no duty to perform any action other than those specified in Pension Systems Corporation End-User License Agreement. Pension Systems Corporation has no duty to determine or advise Licensee of the investment, tax or other consequences resulting from Licensee's own actions or inactions involving Licensee's company's qualified plan(s). Pension Systems Corporation is not responsible or liable for the investment, tax or other consequences resulting from any of Licensee actions, or from Pension Systems Corporation's actions in following any of Licensee's directions or from Pension Systems Corporation's inaction in the absence of any directions from Licensee.

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[topic 4]

This website is controlled and operated by Pension Systems Corporation from its central office, which is in Los Angeles, CA, U.S.A. Pension Systems Corporation makes no representation that information (text and/or graphic) in the site is appropriate or available for use in other locations; access to the site from territories where the site's contents is illegal is prohibited.

-- Anyone who accesses this website does so on his or her own initiative and is responsible for compliance with applicable local laws.

-- Exporting any aspect of this website in violation of U.S. export laws and regulations is prohibited.

-- Any claim to any aspect of this website shall be governed by the internal substantive laws of the State of California.

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[topic 5]

The information contained in this website is the property of Pension Systems Corporation and is protected by copyright. In viewing any part of this website (in any form) or either the demo or full version of the actual 401(k) Easy software, viewers agree not to copy, reproduce, retransmit, disseminate, sell, distribute, publish, broadcast, circulate, commercially exploit, modify or post the information in any way without the express written consent of Pension Systems Corporation Viewers furthermore agree not to use the information, in whole or in part, for any unlawful purpose, and to comply with reasonable written requests by Pension Systems Corporation to protect our contractual, statutory and common law rights in the information and services contained in this website.

-- Information on this website may contain technical inaccuracies or typographical errors. Information may be changed or updated without notice. Pension Systems Corporation may also make improvements and/or changes in the products and/or the programs described in this information at any time without notice.

-- Pension Systems Corporation does not grant any express or implied right to any viewer or customer under any patents, copyrights, trademarks, or trade secret information. Other rights can be granted to viewers/customers in writing.

-- Pension Systems Corporation makes no representations whatsoever about any other website which you may access through this one. When you access a non-Pension Systems Corporation website, please understand that it is independent from Pension Systems Corporation and that Pension Systems Corporation has no control over the content on that website. In addition, a link to a non-Pension Systems Corporation website does not mean that Pension Systems Corporation endorses or accepts any responsibility for the content or use of such a site. It is up to you to take precautions to ensure that whatever you select for your use is free of such destructive items as viruses. IN NO EVENT WILL Pension Systems Corporation BE LIABLE TO ANY PARTY OR ANY DIRECT, INDIRECT, SPECIAL OR OTHER CONSEQUENTIAL DAMAGES FOR ANY USE OF THIS WEBSITE OR ON ANY OTHER LINKED WEBSITE INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR OTHER DATA ON YOU INFORMATION HANDLING SYSTEM OR OTHERWISE, EVEN IF WE ARE EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

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[topic 6]

Information we request from you is designed to help us serve your needs. Pension Systems Corporation does not provide any personally identifying information submitted to us (via e-mail or any other means) to any third party.

You can help us maintain the accuracy of your information by notifying us if there are any changes in your company's address, contact personnel, company phone number, e-mail address, etc.

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[topic 7]

Pension Systems Corporation does not endorse any mutual fund company, nor does mention of any mutual fund company name imply that company's endorsement of Pension Systems Corporation or 401(k) Easy (TM). Some mutual fund companies listed in this website may not accept 401(k) purchases from the 401(k) Easy system.

Pension Systems Corporation does not recommend any investment advisory service or product, nor does it offer any advise regarding the nature, potential value or suitability of any particular security transaction or investment strategy.

Mutual fund companies open and close portfolios all the time, often without warning. While we do our best to keep our fund family listings up to date, we cannot guarantee that any listing is totally current.

Material presented in this website is for information purposes only; it does not imply an endorsement of any investments mentioned nor of any particular investment mix.

No offer of solicitation to buy or sell any of the securities listed in this website is being made by Pension Systems Corporation, and there is no guarantee, either stated or implied, that any investments listed will perform as successfully in future years as they may have in past years.

Neither Pension Systems Corporation nor any of the information contained in this website is intending to supply investment, tax, or legal advice.

Investing always involves a degree of risk. The wise investor assesses the risk-reward relationship before investing or allocating funds, an assessment that involves reviewing fund prospectuses. It is strongly recommended that investors read the mutual fund prospectuses for relevant investments before making any investment selections. Prospectuses are available from Pension Service Associates Securities Corporation (818-501-4015), any other N.A.S.D. Broker-Dealer, or from the mutual fund companies themselves; mutual fund company telephone numbers are provided with their investment listings.

As stated above, investing always involves a degree of risk. You agree in viewing this website or any of its information to defend, indemnify and hold harmless Pension Systems Corporation, Pension Service Associates Securities, their information providers and information transmitter from and against any and all claims, losses, liability, costs and expenses (including but not limited to attorney's fees) arising from your violation of the below End-User License Agreement or of any third-party's rights, including but not limited to infringement of any privacy rights.

An N.A.S.D. Broker-Dealer, Registered Investment Advisor, BD agent or IA rep may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if they are excluded or exempted from the state's broker-dealer, investment advisor, BD agent or IA rep requirements, as the case may be. Some states allow NASD-Registered Broker-Dealers to perform a limited number of transactions without state registration.

Follow-up, individualized responses to consumers in a particular state by a broker-dealer, investment advisor, BD agent or IA rep that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's broker-dealer, investment advisor, BD agent or IA rep requirements, or pursuant to an applicable state exemption or exclusion.

If an investment advisor is registered with the SEC, states may not require registration, licensing, or qualification of the investment advisor or his or her supervised persons, except that states may license, register or otherwise qualify IA reps who have a place of business located within the state.

If an investment advisor does not qualify for SEC registration, in most states his or her actions are governed by state laws. State registration authority is limited, however, by a national de minimis standard that prohibits the laws of any state requiring registration, licensing or qualification as an investment advisor if the advisor does not have a place of business located in the state and during the prior 12 months had five or fewer clients residing in the state.

Federal and state securities laws are designed to ensure that, prior to any direct communication between a broker-dealer or investment advisor and a prospective client residing in a particular state, the broker-dealer or investment advisor must first be registered in the state, or must qualify for an exemption from such requirement.

Internet communications of regulated investments must contain a mechanism, including and without limitation, technical "firewalls" or other implemented policies and procedures, designed reasonably to ensure that prior to any subsequent, direct communication with prospective customers or clients in any state, said broker-dealer, investment adviser, BD agent or IA rep is first registered in the state or qualifies for an exemption or exclusion from such requirement. Nothing in this paragraph shall be construed to relieve a state registered broker-dealer, investment advisor, BD agent or IA rep from any applicable securities registration requirement in any state;

Internet communications cannot involve either effecting or attempting to effect transactions in securities, or the rendering of personalized investment advice for compensation, as may be, in any state over the Internet, but is limited to the dissemination of general information on products and services.

For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA rep, a consumer should contact his or her state securities law administrator or the N.A.S.D. at 800-289-9999 or through www.nasd.com (click on Investor Services, then About Your Broker, then The NASD Public Disclosure Program).

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[topic 8]

Matters Outside the Responsibility of Pension Systems Corporation
Pension Systems Corporation has no duty to perform any action other than those specified in Pension Systems Corporation End-User License Agreement. Pension Systems Corporation has no duty to determine or advise Licensee of the investment, tax or other consequences resulting from Licensee's own actions or inactions involving Licensee's company's qualified plan(s). Pension Systems Corporation is not responsible or liable for the investment, tax or other consequences resulting from any of Licensee actions, or from Pension Systems Corporation's actions in following any of Licensee's directions or from Pension Systems Corporation's inaction in the absence of any directions from Licensee.

Patent & Trademark Protection
The Software is both patented and patent pending in the United States and Canada. Pension Systems Corporation, 401(k) Easy, and 401(k) Easy Pro, Advisors 401(k), Run-It-Yourself, Payroll IRA Easy, 401(k) E Z, Pension Motor Corporation, Quik-Tab 401(k), Pension Service Associates, 403(b) Easy, and Pentec, Inc. are Registered Trademarks.

Copyright Protection & Limitation of Use
The Software, Publications and Support are provided by Pension Systems Corporation for Licensee's exclusive use pursuant to the terms of terms in the Pension Systems Corporation End-User License Agreement. Pension Systems Corporation claims patent, copyright and trademark protection for all Software and copyright for all Publications and Videos. Should the End-User License Agreement be terminated for any reason, the right of Licensee to use Pension Systems Corporation-supplied Software, Publications and Support shall be revoked. Unauthorized use of Software and/or Publications constitutes copyright infringement, subjecting violator(s) to both civil and criminal penalties under federal law.

Regional Prototype Plan & Adoption Agreement
If Licensee adopts the Regional Prototype Plan by completing an Adoption Agreement, the following terms shall apply:

1. Licensee cannot make any modifications or changes to the text of the Regional Prototype Plan or the Adoption Agreement.

2. Licensee must notify Pension Systems Corporation in writing of any changes to the options selected in the Adoption Agreement.

3. If Pension Systems Corporation terminates the Pension Systems Corporation End-User License Agreement or Licensee fails to renew license for Software, Publications and Support, Licensee's plan will be treated as an individually designed plan if the Licensee is continuing to maintain it and has not replaced it with another Regional Prototype Plan.

Trade Secret Protection & Limitation of Use
By accepting the Pension Systems Corporation End-User License Agreement, Licensee understands and acknowledges that Pension Systems Corporation's trade secrets consist of information, materials, computer programs and methodologies that are valuable and not generally known by Pension Systems Corporation's competitors. Disclosure of trade secrets includes:

(a) information and materials relating to Pension Systems Corporation's accounting, allocating and processing

(b) marketing, cost, pricing information and customer lists. Employer shall make use of Pension Systems Corporation's trade secrets only for the purposes specified and described in the Pension Systems Corporation End-User License Agreement. In consideration of Pension Systems Corporation's disclosure of its trade secrets to Licensee, Licensee agrees to treat Pension Systems Corporation's trade secrets with the same degree of care and safeguards taken with his or her own trade secrets, but in no event less than a reasonable degree of care. Licensee agrees that without Pension Systems Corporation's prior written consent,

Licensee will not:

(a) disclose Pension Systems Corporation's trade secrets to any third party,

(b) make or permit to be made copies or other reproductions of Pension Systems Corporation trade secrets, or

Licensee will not disclose Pension Systems Corporation's trade secrets to employees, agents or consultants unless they have the need to know the information in connection with their employment or consultant duties and they personally agree in writing to be bound by the terms of the Pension Systems Corporation End-User License Agreement.

Injunction Relief: Licensee acknowledges that the Software contains proprietary trade secrets of Pension Systems Corporation and hereby agrees to maintain the confidentiality of the Software using at least as great a degree of care as Licensee uses to maintain the confidentiality of Licensee's own most confidential information. Licensee acknowledges that the disclosure of any aspect of the Software, of any other confidential information referred to herein, or of any information which, at law or in equity ought to remain confidential, will immediately give rise to continuing irreparable injury to Pension Systems Corporation inadequately compensable in damages at law. Accordingly, Pension Systems Corporation may immediately terminate the Pension Systems Corporation End-User License Agreement, including all license rights granted therein, in the event Licensee breaches any of its material confidentiality obligations regarding the Software, Publications and Support. In addition, Pension Systems Corporation is entitled to obtain immediate injunctive relief against the breach or threatened breach of any of the foregoing undertakings, in addition to any other legal remedies which may be available and Licensee hereby consents to the obtaining of such injunctive relief.

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[topic 9]

Pension Systems Corporation agrees to license 401(k) Easy Software, any updates or modifications it provides and associated documentation (herein collectively referred to as the �Software�) to you (hereinafter �Licensee�) pursuant to the below terms and conditions. Do not order, INSTALL OR USE the Software until you have carefully read the following terms. By ordering, INSTALLING OR USING the Software, you agree to be bound by the terms and conditions of this end user license agreement (the �Agreement�).

Services

A. EXISTING PLAN REVIEW
At its sole discretion Pension Systems Corporation may assist with a review Employer�s existing Plan documents and consult Employer on the feasibility of restatement and administration of the Plan.
B. PLAN DOCUMENTATION
1. Pension Systems Corporation will prepare the documentation needed to establish or re-state the Plan and Trust Agreement for review by Employer�s professional advisors, and update documents as required by regulation.
2. Pension Systems Corporation will prepare and update the Summary Plan Description (�Notice to Employees�) as required by regulation.
C. ANNUAL ADMINISTRATION VIA SOFTWARE
1. Process new employee enrollments, employee terminations and IRA rollovers.
2. Calculate and process Plan contributions.
3. Allocate contributions to individual accounts.
4. Maintain participant service and employment records.
5. Assistance with the preparation of reporting forms due to government agencies within the time (but only within the time) for which Pension Systems Corporation is retained by Employer under the terms of this Agreement. Pension Systems Corporation is not required to assist in the preparation of such forms if they pertain to a calendar year/Plan Year that has ended prior to the effective date of this Agreement or if the forms� final deadline/due dates are subsequent to termination of this Agreement. Upon termination of this Agreement all bookkeeping, data processing and government form preparation services shall immediately cease.

License
Pension Systems Corporation hereby grants to Licensee a non-exclusive, non-transferable license to load and Pension Systems Corporation hereby grants to Licensee a non-exclusive, non-transferable license to load and execute the Software on one stand-alone computer under Licensee�s control for the duration of the calendar year in which Licensee pays the annual license fee for the Software. Licensee may not load the Software on a network server or make the Software available through a network of any kind.

License Restrictions
Licensee may use the Software for Licensee�s own use only. In addition to the copy of the Software stored on the hard drive of Licensee�s computer, Licensee may make one archival copy of the Software solely for backup purposes. Making any additional copies of the Software by any means, including electronic transmission, or allowing any other person to make a copy is prohibited. No identifying marks, copyright, patent or patent pending notices or proprietary rights notices may be altered or deleted from any copies of the Software. Licensee is prohibited from giving copies of the Software to another person or entity. Licensee may not print copies of any user documentation. The Software contains trade secrets, and Licensee may not decompile, reverse engineer, disassemble, or otherwise reduce the Software to a human-perceivable form. Licensee may not modify, adapt, translate, rent, sublease, assign, loan or sell the Software or create derivative works based upon the Software or any part thereof.

Patents and Patents Pending
The Software includes US Patent Number 6041313, plus additional Patents Pending.

Prototype Plan Documents
Pension Systems Corporation provides Licensee with Prototype Plan Documents (�Documents�) that Pension Systems Corporation acquires from third-party sources. Pension Systems Corporation does not warranty these Documents, or their adaptation to Licensee�s needs or requirements. Pension Systems Corporation assumes no liability for the accuracy, completeness or applicability of these Documents, or their use, by Licensee. Licensee�s use of the Documents is solely at the discretion of the Licensee, and at Licensee�s own risk. Licensee can, at its discretion, utilize prototype plan documents acquired from sources other than Pension Systems Corporation. Licensee is under no obligation to use Pension Systems Corporation-supplied Documents. Pension Systems Corporation, as policy, automatically adopts government-mandated amendments to the Documents.

Warranties
For the duration of the current license term, Pension Systems Corporation warrants to Licensee only that the Software shall perform consistent with the published specifications. Pension Systems Corporation�s sole obligation and liability under this warranty shall be to correct any defects in the Software, in a reasonable time, to perform in accordance with the published specifications therefore. Any modifications, maintenance or other changes to the Software by the Licensee or its agents and employees shall void this warranty but not the exclusions and waivers of warranties contained herein. Pension Systems Corporation does not warrant that the Software will meet Licensee�s requirements or that its use will be uninterrupted or error-free. In the event that Pension Systems Corporation fails to remedy defects in the Software, Licensee�s sole remedy shall be to receive a refund of the current year�s license fees for the Software (not including any plan customization fee paid by Licensee).

Disclaimer of Warranties
Except for the foregoing limited warranty, the Software is provided �AS IS.� The entire risk as to the quality and performance of the Software is with Licensee. Pension Systems Corporation, to the maximum extent permitted by applicable law, disclaims all other representations and warranties, express or implied, regarding the Software, including its fitness for a particular purpose, quality, accuracy, merchantability and non-infringement. Pension Systems Corporation does not represent or warrant that the Software is free from bugs, errors or other program limitations.

Pension Systems Corporation has no control over Licensee�s use of the Software, and Pension Systems Corporation does not and cannot warrant the performance or results that may be obtained by its use. Pension Systems Corporation does not represent, warrant, or guarantee the accuracy and timeliness of the data or information contained in the Software and shall have no liability of any kind whatsoever to Licensee, or to any other party, on account of any inaccuracies in or untimeliness of the data or information. Nor does Pension Systems Corporation have any obligations to Licensee to correct such data or information or any errors contained in the Software. Various information in the Software constantly changes, and the information may not be current or accurate. The Software should not be used without confirming research from other sources, obtaining up-to-date information, and separate analysis by the Licensee of his or her own particular investment or tax situation or record keeping application. The Software does not recommend or endorse any specific investment or any particular mutual fund, nor does the Software offer specific tax, legal or investment advice or strategies. Pension Systems Corporation is not a financial advisor and should not be considered as such. Licensee is strongly advised to consult with a professional tax and/or investment advisor before establishing or investing on behalf of a 401(k) or any other retirement savings plan.

Some states do not allow the exclusion of implied warranties, so the above exclusions may not apply to Licensee. In that event, any implied warranties are limited in duration to ten (10) days from the date of purchase of the Software. However, some states do not allow a limitation on how long an implied warranty lasts, so the above limitation may not apply to Licensee.

Limitation of Liability & Damages
IN NO EVENT SHALL Pension Systems Corporation, ITS SUPPLIERS OR ITS DISTRIBUTORS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGE, INCLUDING WITHOUT LIMITATION, LOSS OF DATA, LOST PROFITS OR COST OF COVER ARISING FROM THE USE OF THE SOFTWARE OR ANY DEFECT IN THE SOFTWARE, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY. THIS LIMITATION SHALL APPLY EVEN IF Pension Systems Corporation, ITS SUPPLIERS OR ITS DISTRIBUTORS SHALL HAVE BEEN ADVISED OF THE POSSIBILITY OF ANY SUCH DAMAGE. IN PARTICULAR BUT WITHOUT LIMITATION, Pension Systems Corporation, ITS SUPPLIERS AND ITS DISTRIBUTORS SHALL HAVE NO LIABILITY FOR THE LOSS OF ANY INFORMATION STORED IN OR USED WITH THE SOFTWARE.

THE MAXIMUM AGGREGATE LIABILITY OF Pension Systems Corporation AND ITS SUPPLIERS FOR ANY CLAIM ARISING OUT OF USE OF THE SOFTWARE OR ANY DEFECT IN THE SOFTWARE, ON ANY AND ALL THEORIES OF LIABILITY, INCLUDING WITHOUT LIMITATION NEGLIGENCE BY Pension Systems Corporation, SHALL IN ALL EVENTS BE LIMITED TO RETURN OF THE AMOUNTS ACTUALLY PAID AS THE CURRENT YEAR�S LICENSE FEES.

U.S. Government Restricted Rights
The Software is subject to the DOD FAR Supplement and is �commercial computer software.� Use, duplication or disclosure of the Software is subject to the licensing restrictions set forth in this Agreement. The Software is subject to the Federal Acquisition Regulations as �restricted computer software� and its use, duplication and disclosure shall be subject to the restrictions in FAR 52.227-14.

Miscellaneous
Licensee acknowledges that this Agreement is a complete statement of the agreement between Licensee and Pension Systems Corporation, and that there are no other prior or contemporaneous understandings, promises, representations, or descriptions, regarding the Software. This Agreement does not limit any rights or remedies that Pension Systems Corporation may have under trade secret, trademark, and copyright, patent or other related intellectual property laws. Representatives of Pension Systems Corporation are not authorized to make modifications to this Agreement, or to make any additional representations, commitments or warranties binding on Pension Systems Corporation. Accordingly, such additional statements are not binding on Pension Systems Corporation and Licensee should not rely upon such statements. The validity and performance of this Agreement shall be governed by California law (without reference to choice of law principles) and all applicable Federal laws. This Agreement is deemed entered into at Los Angeles, California, and shall be constructed as to its fair meaning and not strictly for or against either party. Any resolution of a dispute arising out of or in connection with this Agreement may only be resolved in Los Angeles, California.

Effective Term of Agreement
This Agreement shall continue in effect for a period ending on the last day of the effective calendar year this Agreement was entered into. Pension Systems Corporation reserves the right to adjust fees and suspend services without breaching or terminating this Agreement if Licensee fails to pay invoiced fees in accordance with this Agreement. Pension Systems Corporation may terminate this Agreement if Licensee breaches this Agreement.

Promotion & Marketing
Pension Systems Corporation reserves the right to use Licensee�s business name, city and state in marketing literature and materials used in promoting Pension Systems Corporation products and services.

Mediation & Arbitration
If a dispute (excluding copyright, patent, or trademark, or other intellectual rights infringement claims) arises from or relates to this Agreement or the breach thereof, and if the dispute cannot be settled through direct discussions, the parties agree to endeavor first to settle the dispute by mediation in Los Angeles, California, administered by the American Arbitration Association under its Commercial Mediation Rules before resorting to arbitration. Any unresolved controversy or claim (excluding copyright, patent, or trademark infringement claims) arising under this Agreement or its breach, including but not limited to any controversy concerning the meaning or interpretation of any provision of this Agreement or controversies arising from possible errors or omissions on the part of Pension Systems Corporation or its agents or suppliers shall be decided by binding arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. The place of arbitration shall be Los Angeles, California. Any such controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party.

Consistent with the expedited nature of arbitration, each party will, upon the written request of the other party, promptly provide the other with copies of documents relevant to the issues raised by any claim or counterclaim on which the producing party may rely in support of or in opposition to any claim or defense. Any dispute regarding discovery, or the relevance or scope thereof, shall be determined by the arbitrator(s), which determination shall be conclusive.

The arbitrator(s) shall not award consequential damages in any arbitration initiated under this section, nor shall the arbitrator(s) be empowered to issue an award of exemplary or punitive damages. The arbitrator(s) may determine how the costs and expenses of the arbitration shall be allocated between the parties, but they shall not award attorneys� fees. The award shall be in writing, shall be signed by a majority of the arbitrators, and shall include a statement regarding the reasons for the disposition of any claim. Except as may be required by law, neither a party nor an arbitrator may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of both parties.

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[topic 10]

At Pension Systems Corporation the interests of our clients always come first. As part of our firm's long tradition of trust, the confidentiality of client information has been and will continue to be paramount. We maintain high standards to safeguard your personal financial information at all times, and we will remain vigilant in protecting that information. We collect personal financial information to operate prudently and to meet legal and regulatory requirements. We never rent or sell your name or other personal financial information. We will only share certain information with companies not in our corporate family ("nonaffiliated third parties") as permitted by law for the purpose of servicing your financial needs. The recipients of that information are required to protect the confidentiality and security of that information and may not reuse it for any other purpose.

How do we protect the confidentiality and security of your information?

People. We restrict access to your personal financial information to personnel who need that information to provide you with our products and services. Our employee communications also reinforce our privacy policies. Policies and Procedures. We maintain and monitor our physical, electronic and procedural safeguards, updating them as needed so that we may guard your personal information. Security. We use leading security and encryption methods to help us identify and prevent data breaches and unauthorized disclosure of your personal financial information.

What information do we collect from and about you?

Depending on the nature of your relationship with us, we must obtain certain information to meet legal and regulatory requirements. In all cases, we collect only personal financial information that is either required or necessary to provide personalized financial services to you. We obtain information about you from application and other forms, such as name, address, Social Security number, telephone number and income. We collect information about your financial transactions, such as securities bought and sold, Visa and checking transactions, and fund transfers, with companies in our corporate family ("affiliates"). We may obtain information about you from third parties, such as a consumer report from a consumer reporting agency. We may verify income, identity or asset information about you.

What information do we disclose to affiliates about you?

We may disclose some or all of your personal information to our corporate affiliates, including transfer agents, banks, insurance companies and agencies, trust companies, mortgage bankers, securities broker- dealers; and investment advisers. We do this in order to offer you a broad range of products and services and to comply with applicable regulations.

What information do we disclose to nonaffiliated third parties about you?

Pension Systems Corporation will, as necessary, use various services from nonaffiliated third parties. We use these external service providers for the purpose of supporting the financial products and services we provide to you. For example, we provide information to external service providers so that your account statements can be printed and mailed. These parties must agree to comply with stringent security and privacy policies and procedures. We may also disclose information to government agencies and regulatory organizations when permitted or required by law.

What information do we disclose about former clients and to whom?

We may disclose some or all of a former client's personal information to government agencies and self-regulatory organizations when permitted or required by law, such as when required to file abandoned property reports and to comply with subpoenas and other official governmental requests. If a former client had a loan with us, we may report the performance of that loan to consumer reporting agencies.

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