
All Securities through Stock USA Execution Services Inc. Member FINRA & SIPC

1. Complete and sign (Includes: Account Application, Margin Agreement, Disclosures.)

2. FAX to 845-622-4878 or Mail forms to: Stock USA Execution Services , 1717 Rte. 6, Carmel, NY 10512

Account Application Additional Forms (optional)

Registration	Individual Partnership* CorporationLLC
	Joint Tenants Right of Survivorship Tenants in Common *
Type of account	Cash Margin

Account number assigned
( for internal use only )

RR#

Ref#:

Tell us about yourself or your company		and your Joint Account Owner ( if any )
Entity Name Full Name		Joint Name
Address		Joint Address
City State Zip		City State Zip
Citizenship SS or TID#		Citizenship SS#
Drive License or Passport #	State or Country	Drive License or Passport #	State or Country
Daytime Phone#		Phone#
LEGAL address if different		LEGAL address if different
City State Zip		City State Zip

Tell us how you would like us to process your transactions:

1.Hold proceeds of sales in the account or Remit proceeds
2.Hold interest and dividends in the account orRemit int/divs to me/us

Tell us about the account you are opening:

Your birth date

No. of your dependents

Spouse's name ( if applicable )

Your spouse's birthdate

No. of your spouse's dependents

Years of Investment Experience: Stocks	Knowledge Level (Limited, Good, Extensive) StocksLimited Good Extensive
Number of Trades Per Year Stocks	Average Size Per Trade Stocks
Investment Objectives: Income Long-term growth Short-term trading	Risk exposure: Low Moderate Speculation High risk

Will you be giving DISCRETION over this account to another ? If YES, to whom and what is this person's relationship to you ?		Yes	No
Are you or the joint owner an employee of this firm ?		Yes	No
Are you or the joint owner related to an employee of this firm ? If YES, give the name of the employee and relationship to you ?		Yes	No
Are you or the joint owner a senior officer, director or large shareholder of a public company ? If YES, give the name of the company?		Yes	No
Is this account for a Foreign Bank? If YES, please list U.S. Agent for service.		Yes	No
Are you or the joint owner or any member of your immediate families affiliated with or employed by a member of a stock exchange or National Association of Securities Dealers ? If YES, what is the affiliation ?		Yes	No
Are you or the joint owner maintaining any other brokerage accounts?	If YES, with what firms?	Yes	No

Your Annual Income

Approx Net Worth,
excluding your home:

liquid Net Worth,
Cash, Stocks etc..:

Joint owner's Annual Income

Joint owner's Approx Net Worth,
excluding your home:

Joint owner's liquid Net Worth,
Cash, Stocks etc..:

Your Occupation

Years Employed

Joint owner's Occupation

Years Employed

Employer's Name

Employer's Address

Type of business

Joint owner's
Employer's Name

Employer's Address

Type of business

Please give the name and addresses of your banks

Bank Name

Bank Address	City:
	State: Zip:

Please certify Social Security or Taxpayer ID Number below

Under penalty of perjury I certify that:
(1) The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued to me) and
(2) I am not subject to backup withholding because (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding (does not apply to real estate transactions, mortgage interest paid, the acquisition or abandonment of secured property, contributions to an individual retirement account (IRA), and payments other than interest and dividends).
(3) I am a U.S. person (including a U.S. resident alien).
Certification Instructions -- You must cross out item (2) above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return.
Current Tax Status: Low Medium High

Please review your information above, then read and agree to the Customer Agreement (listed below).
I REPRESENT THAT I HAVE READ THE TERMS AND CONDITIONS GOVERNING THIS ACCOUNT AND AGREE TO BE BOUND BY SUCH TERMS AND CONDITIONS AS CURRENTLY IN EFFECT AND AS MAY BE AMENDED FROM TIME TO TIME. THIS ACCOUNT IS GOVERNED BY A PRE-DISPUTE ARBITRATION AGREEMENT WHICH APPEARS ON THIS APPLICATION. I ACKNOWLEDGE RECEIPT OF THE PRE-DISPUTE ARBITRATION AGREEMENT.

Customer's signature X________________________ Dated:______________________

Joint owner signature X________________________ Dated:______________________

FOR OFFICE USE ONLY RR is registered in State of Customer's residence	Initial Transaction:
RR signature Accepted	Authorized Supervisor's Signature	Date____________

How long have you used a discount broker? *	Years
Are you satisfied with your current discount broker? *
How long have you used the internet? *	Years
Are you using Windows 95, 98, 2000, XP or NT (v4.0 or above)? *
How did you find us *

Customer Agreement (Agreed to by signing above)

Under penalty of perjury I certify that:

DISCLOSURE OF NAME/ADDRESS ON SECURITIES YOU OWN
Under rule 14b-1(c) of the Securities Exchange Act, we are required to disclose to an issuer the name, address, and securities position of our customers who are beneficial owners of that issuer�s securities unless the customer objects. Please check below if you do not want your ownership disclosed.

I object to the disclosure of such information _______

AUTHORIZATION TO EARN INTEREST ON FUNDS AWAITING INVESTMENT
This is to confirm my intention to reinvest cash credit balances held by you in my name, and I further confirm that this cash credit balance is being maintained with you solely for the purpose of reinvestment. I understand that cash balances of up to $100,000 are protected by the Securities Investor Protection Corporation (SIPC), but that SIPC coverage is not available for funds maintained solely for the purpose of earning interest.

BY SIGNING ABOVE, THE ABOVE SIGNED AGREES TO ALL TERMS OF THE CUSTOMER AGREEMENT PRINTED ON THIS DOCUMENT. THE ABOVE SIGNED ACKNOWLEDGES RECEIPT OF A COPY OF THIS AGREEMENT, THE INFORMATION BROCHURE PREPARED BY PENSON FINANCIAL SERVICES, INC., AND PENSON�S PRIVACY POLICY. THE ABOVE SIGNED CERTIFIES THAT THE ABOVE SIGNED HAS READ AND UNDERSTANDS ALL PROVISIONS OF THIS AGREEMENT. THIS AGREEMENT BENEFITS PENSON FINANCIAL SERVICES, INC., INTRODUCING BROKERS FOR WHICH IT CLEARS AND PERSONS RELATED TO EACH OF THE FOREGOING. THE MARGIN AGREEMENT, PARAGRAPH 10, CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE.

Important information about procedures for opening a new account: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means to you: when you open an account, we will ask for your name address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

BY SIGNING ABOVE, THE ABOVE SIGNED AGREES TO ALL TERMS OF THE MARGIN AND SHORT ACCOUNT AGREEMENT PRINTED ON THIS DOCUMENT. THE AGREEMENT CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE IN PARAGRAPH 10. The above signed acknowledges that the above signed�s margin account securities may be borrowed by you or loaned to others. The above signed also acknowledges receipt of a copy of this Agreement and a copy of the Margin Risk Disclosure Statement.

Joint Account Agreement Only for Joint Accounts

TO: Penson Financial Services, Inc.:

We, the undersigned, request you to open a joint account in our names as designated below, as to which we are Joint Tenants with Rights of Survivorship of said account.

Joint Name:

Joint Name:

Main Address:

City, State, Zip:

In consideration of your carrying a joint account for the undersigned, the undersigned jointly and severally agree that each of them shall have authority on behalf of the joint account to buy, sell (including short sales) and otherwise deal in through you as brokers, stocks, bonds and other securities, on margin or otherwise; to receive on behalf of the joint account demands, notices, confirmations, report, statements of account and communications of every kind to receive on behalf of the joint account money, securities and property of every kind and to dispose of same to make on behalf of the joint account agreements relating to any of the foregoing matters and to terminate or modify same or waive any of the provisions thereof; and generally to deal with you on behalf of the joint account as fully and completely as if he alone were interested in said account all without notice to the other or others interested in said account. Notwithstanding the foregoing, you are authorized in your discretion to require joint action by the joint tenants with respect to any matter concerning the joint account, including but not limited to the giving or cancellation of orders and the withdrawal of money, securities, futures, or commodities.

The liability of the undersigned with respect to said account shall be joint and several. The undersigned further agrees jointly and severally that all property you may at any time be holding or carrying for any one or more of the undersigned shall be subject to a lien in your favor for the discharge of the obligations of the joint account to you, such lien to be in addition to and not in substitution of the rights and remedies you otherwise would have.

It is further agreed that in the event of the death of either or any of the undersigned, the survivor or survivors shall immediately give you written notice thereof, and you may, before or after receiving such notice, take such proceeding, require such papers and inheritance or estate tax waivers, retain such portion of and/or restrict transactions in the account as you may deem advisable to protect you against any tax, liability, penalty or loss under any present or future laws or otherwise. The estate of any of the undersigned who shall have died shall be liable and each survivor shall continue liable jointly and severally, to you for any net debit balance or loss in said account in any way resulting from the completion of transactions initiated prior to the receipt by you of the written notice of the death of the descendent or incurred in the liquidation of the account or the adjustment of the interests of the respective parties.

It is the express intention of the undersigned to create an estate or account as joint tenants with rights of survivorship and not as tenants in common. In the event of the death of either of the undersigned, the entire interest in the joint account shall be vested in the survivor or survivors on the same terms and conditions as thereto fore held, without in any manner releasing the decedent�s estate from the liability provided for in the next preceding paragraph.

In the event you receive conflicting instructions from the undersigned, you are authorized at your sole discretion to decide as to what course of action to follow, which may include a freeze on the account until written uniform instructions are received from all of the undersigned; or the property may be mailed to the address of record; or an inter-pleader action may be filed in the appropriate court with the legal expenses to be recovered from the undersigned; or other action may be taken as you deem appropriate.

Subject to the provisions hereof, all notices of communications for the undersigned in respect of the joint account are to be directed to the address listed above.

Each of the undersigned has also signed the Customers Account Agreement which is intended to cover, in addition to the provisions hereof, the terms upon which the joint account is to be carried.

Signed,
Customer's signature X________________________ Dated:______________________

Joint owner signature X________________________ Dated:______________________

Margin Agreement

To: Penson Financial Services, Inc.
1. Applicable Rules and Regulations. All transactions shall be subject to the constitution, rules, regulations, customs and usages of the exchange or market and its clearing house, if any, upon which such transactions are executed, except as otherwise specifically provided in this Agreement.
2. Definitions. �Introducing broker� means any brokerage firm, which introduces securities transactions on behalf of the undersigned, which transactions are cleared through you, whether one or more. �Obligations� means all indebtedness, debit balances, liabilities or other obligations of any kind of the undersigned to you, whether now existing or hereafter arising. �Securities and other property� shall include, but shall not be limited to, money, securities, commodities or other property of every kind and nature and all contracts and options relating thereto, whether for present or future delivery. �You� or �your� refers to Penson Financial Services, Inc. �Undersigned� refers to the customer, or the party signing this agreement on behalf of the customer.
3. Security Interest. All securities and other property now or hereafter held, carried or maintained by you in or for any of the accounts of the undersigned, now or hereafter opened, including any accounts in which the undersigned may have an interest, shall be subject to a first and prior lien and security interest for the discharge of all of the obligations of the undersigned to you, and are to be held by you as security for the payment of the obligations of the undersigned to you, to the fullest extent allowed by law. You shall have the right to transfer securities and other property so held by you from or to any other of the accounts of the undersigned whenever you so determine.
4. Liquidation. In the event of the death of the undersigned, or in the event the margin in any account in which the undersigned has an interest shall in either your or the introducing broker�s discretion become unsatisfactory to either you or the introducing broker, or be deemed insufficient by either you or the introducing broker, you are hereby authorized; (a) to sell any or all securities or other property which you may hold for the undersigned (either individually or jointly with others); (b) to buy any or all securities and other property which may be short in such accounts; and/or � to cancel any open orders and to close any or all outstanding contracts; all without demand for margin or additional margin, notice of sale or purchase, or other notice or advertisement, and that any prior demand or notice shall not be a waiver of your rights provided herein. You may likewise accept and rely upon instructions which you receive from the introducing broker to effect any of the aforementioned transactions (as noted in (a); (b); and (c). You shall have the discretion to determine which securities and other property are to be sold and which contracts are to be closed. Any such sales or purchases may be made at your discretion on any exchange, the over-the-counter market or any other market where such business is usually transacted, or at public auction or private sale, and you may be the purchaser for your own account.
5. Cancellation. You are authorized, in your discretion, should you for any reason whatsoever deem it necessary for your protection, without notice, to cancel any outstanding order, to close out the accounts of the undersigned, in whole or in part, or to close out any commitment made on behalf of the undersigned.
6. Payment of Indebtedness Upon Demand. The undersigned shall at all times be liable for the payment upon demand of any obligations owing from the undersigned to you, and the undersigned shall be liable to you for any deficiency remaining in any such accounts in the event of liquidation thereof (as contemplated in Paragraph 4 of this Agreement or otherwise), in whole or in part, by you or by the undersigned; and the undersigned shall make payment of such obligations upon demand.
7. Liability for Costs of Collection. The costs and expenses of collection of the debit balance and any unpaid deficiency in the accounts of the undersigned with you, including but not limited to reasonable attorneys� fees and expenses, incurred and payable or paid by you shall be payable to you by the undersigned.
8. Accounts Carried as Clearing Broker. The undersigned understands that you are carrying the accounts of the undersigned as clearing broker by arrangement with the undersigned�s introducing broker through whose courtesy the account of the undersigned has been introduced to you. Until receipt from the undersigned of written notice to the contrary, you may accept from and rely upon the undersigned�s introducing broker (a) orders for the purchase or sale of securities and other property, and (b) any other instructions concerning the undersigned�s accounts. The undersigned represents that the undersigned understands that you act only to clear trades introduced by the undersigned�s introducing broker and to effect other back office functions for the undersigned�s introducing broker. The undersigned confirms to you that the undersigned is relying for any advice concerning the undersigned�s accounts solely on the undersigned�s introducing broker. The undersigned understands that all representatives, employees and other agents with whom the undersigned communicates concerning the undersigned�s account are agents of the introducing broker and not your representatives, employees or other agents. The undersigned understands that you are not a principal of or partner with, and do not control in any way, the introducing broker or its representatives, employees or other agents. The undersigned understands that you will not review the undersigned�s accounts and will have no responsibility for trades made in the undersigned�s accounts. You shall not be responsible or liable for any acts or omissions of the introducing broker or its representatives, employees or other agents.
9. Communications. You may send communications to the undersigned at the address of the undersigned or at such other address as the undersigned may hereafter give you in writing, and all communications so sent, whether by mail, telegraph, messenger or otherwise, shall be deemed given to the undersigned personally, whether actually received or not. Reports of execution of orders and statements of accounts of the undersigned shall be conclusive if not objected to in writing to you, the former within five (5) days and the latter within ten (10) days, after forwarding by you to the undersigned by mail or otherwise.

BY SIGNING BELOW, THE UNDERSIGNED AGREES TO ALL TERMS OF THE MARGIN AND SHORT ACCOUNT AGREEMENT PRINTED ON THIS SIDE AND THE REVERSE SIDE OF THIS DOCUMENT. THE REVERSE SIDE OF THIS AGREEMENT CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE IN PARAGRAPH 10. The undersigned acknowledges that the undersigned�s margin account securities may be borrowed by you or loaned to others. The undersigned also acknowledges receipt of a copy of this Agreement and a copy of the Margin Risk Disclosure Statement.

Customer's signature X________________________ Dated:______________________

Joint owner signature X________________________ Dated:______________________

Correspondent Approval___________________________ Date________

THE FOLLOWING ARBITRATION AGREEMENT SHOULD BE READ IN CONJUNCTION WITH THESE DISCLOSURES:
a. ALL PARTIES TO THIS AGREEMENT ARE GIVING UP THE RIGHT TO SUE EACH OTHER IN COURT, INCLUDING THE RIGHT TO A TRIAL BY JURY EXCEPT AS PROVIDED BY THE RULES OF THE ARBITRATION FORM IN WHICH A CLAIM IS FILED;
b. ARBITRATION AWARDS ARE GENERALLY FINAL AND BINDING; A PARTY�S ABILITY TO HAVE A COURT REVERSE OR MODIFY AN ARBITRATION AWARD IS VERY LIMITED.
c. THE ABILITY OF THE PARTIES TO OBTAIN DOCUMENTS, WITNESS STATEMENTS AND OTHER DISCOVERY IS GENERALLY MORE LIMITED IN ARBITRATION THAN IN COURT PROCEEDINGS;
d. THE ARBITRATORS DO NOT HAVE TO EXPLAIN THE REASON(S) FOR THEIR AWARD.
e. THE PANEL OF ARBITRATORS WILL TYPICALLY INCLUDE A MINORITY OF ARBITRATORS WHO WERE OR ARE AFFILIATED WITH THE SECURITIES INDUSTRY.
f. THE RULES OF SOME ARBITRATION FORUMS MAY IMPOSE TIME LIMITS FOR BRINGING A CLAIM IN ARBITRATION. IN SOME CASES, A CLAIM THAT IS INELIGIBLE FOR ARBITRATION MAY BE BROUGHT IN COURT.
g. THE RULES OF THE ARBITRATION FORUM IN WHICH THE CLAIM IS FILED, AND ANY AMENDMENTS THERETO, SHALL BE INCORPORATED INTO THIS AGREEMENT.

10. ARBITRATION AGREEMENT. ANY AND ALL CONTROVERSIES, DISPUTES OR CLAIMS BETWEEN THE UNDERSIGNED AND YOU, OR THE INTRODUCING BROKER, OR YOUR AGENTS, REPRESENTATIVES, EMPLOYEES, DIRECTORS, OFFICERS OR CONTROL PERSONS OR THE AGENTS, REPRESENTATIVES, EMPLOYEES, DIRECTORS, OFFICERS OR CONTROL PERSONS OF THE INTRODUCING BROKER, ARISING OUT OF, IN CONNECTION WITH, FROM OR WITH RESPECT TO (a) ANY PROVISIONS OF OR THE VALIDITY OF THIS AGREEMENT OR ANY RELATED AGREEMENTS, (b) THE RELATIONSHIP OF THE PARTIES HERETO, OR (c) ANY CONTROVERSY ARISING OUT OF YOUR BUSINESS, THE INTRODUCING BROKER�S BUSINESS OR THE UNDERSIGNED�S ACCOUNTS, SHALL BE CONDUCTED PURSUANT TO THE CODE OF ARBITRATION PROCEDURE OF THE NASD. ARBITRATION MUST BE COMMENCED BY SERVICE OF A WRITTEN DEMAND FOR ARBITRATION OR A WRITTEN NOTICE OF INTENTION TO ARBITRATE. THE DECISION AND AWARD OF THE ARBITRATOR(S) SHALL BE CONCLUSIVE AND BINDING UPON ALL PARTIES, AND ANY JUDGMENT UPON ANY AWARD RENDERED MAY BE ENTERED IN A COURT HAVING JURISDICTION THEREOF, AND NEITHER PARTY SHALL OPPOSE SUCH ENTRY.
No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until: (i) the class certification is denied; or (ii) the class is de-certified; or (iii) the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this agreement except to the extent stated herein.
11. Hypothecation. Within the limitations imposed by applicable laws, rules and regulations, all securities now or hereafter held by you, or carried by you in any account for the undersigned (either individually or jointly with others), or deposited to secure same, may from time to time, without any notice, be carried in your general loans and may be pledged, repledged, hypothecated or re-hypothecated, separately or in common with other securities for the sum due to you thereon or for a greater sum and without retaining in your possession or control for delivery a like amount of similar securities. The IRS requires Broker Dealers to treat dividend payments on loaned securities positions as in-lieu dividends for 1099 tax reporting purposes. Taxation of substitute dividend payments may be greater than ordinary on qualified dividends. It is understood, however, that you agree to deliver to the undersigned upon demand and upon payment of the full amount due thereon, all securities in such accounts, but without obligation to deliver the same certificates or securities deposited by the undersigned originally. Any securities in the undersigned�s margin or short account may be borrowed by you, or lent to others.
12. Interest. Debit balances in all the accounts of the undersigned shall be charged with interest in accordance with your established custom, as disclosed to the undersigned in the Customer Information Brochure pursuant to the provisions of Rule 10b-16 of the Securities Exchange Act.
13. Margin. The undersigned agrees to maintain in all accounts with you such positions and margins as required by all applicable statutes, rules, regulations, procedures and custom, or as you deem necessary or advisable. The undersigned agrees to promptly satisfy all margin and maintenance calls.
14. Sales. The undersigned agrees to specifically designate any order to sell a security, which the undersigned does not own as a short sale, and understands that you will mark such order as a short sale. The undersigned agrees that any order which is not specifically designated as a short sale is a sale of securities owned by the undersigned, and that the undersigned will deliver the securities on or before settlement date, if not already in the account. If the undersigned should fail to make such delivery in the time required, you are authorized to borrow such securities as necessary to make delivery for the undersigned�s sale, and the undersigned agrees to be responsible for any loss you may thereby sustain, or which you may sustain as a result of your inability to borrow such securities.
15. Representations. The undersigned represents that the undersigned is of majority age, that the undersigned is not an employee of any exchange, or of any corporation of which any exchange owns a majority of the capital stock, or of a member of any exchange, or of a member firm or a member corporation registered on any exchange or of a bank, trust company, insurance company or of any corporation, firm or individual engaged in the business dealing either as broker or as principal in securities, bills of exchange, acceptances or other forms of commercial paper. If the undersigned is a corporation, partnership, trust or other entity, the undersigned represents that its governing instruments permit this Agreement, that all applicable persons have authorized this Agreement and that the undersigned signatory is authorized to bind the undersigned. The undersigned represents that the undersigned shall comply with all applicable laws, rules and regulations in connection with the undersigned�s account. The undersigned further represents that no one except the undersigned has an interest in the account or accounts of the undersigned with you.
16. Joint Account. If the undersigned shall consist of more than one person, the undersigned�s obligations under this Agreement shall be joint and several. References to the �undersigned� shall include each of the undersigned. You may rely on transfer or other instructions from any one of the undersigned in a joint account, and such instructions shall be binding on each of the undersigned. You may deliver securities or other property to, and send confirmations, notices, statements and communications of every kind, to any one of us, and such action shall be binding on each of us. Notwithstanding the foregoing, you are authorized in your discretion to require joint action by the joint tenants with respect to any matter concerning the joint account, including but not limited to the giving or cancellation of orders and the withdrawal or money, securities, futures or commodities.
17. Other Agreements. The undersigned agrees to be bound by the terms of your Customer Account Agreement. If the undersigned trades any options, the undersigned agrees to be bound by the terms of your Customer Option Agreement. The undersigned understands that copies of these agreements are available from you and, to the extent applicable, are incorporated by reference herein. The terms of these other agreements are in addition to the provisions of this Agreement and any other written agreements between you and the undersigned.
18. Data Not Guaranteed. The undersigned expressly agrees that any data or online reports is provided to the undersigned without warranties of any kind, express or implied, including but not limited to, the implied warranties of merchantability, fitness of a particular purpose or non-infringement. The undersigned acknowledges that the information contained in any reports provided by you is obtained from sources believed to be reliable but is not guaranteed as to its accuracy of completeness. Such information could include technical or other inaccuracies, errors or omissions. In no event shall you or any of your affiliates be liable to the undersigned or any third party for the accuracy, timeliness, or completeness of any information made available to the undersigned or for any decision made or taken by the undersigned in reliance upon such information. In no event shall you or your affiliated entities be liable for any special incidental, indirect or consequential damages whatsoever, including, without limitation, those resulting from loss of use, data or profits, whether or not advised of the possibility of damages, and on any theory of liability, arising out of or in connection with the use of any reports provided by you or with the delay or inability to use such reports.
19. Credit Check. You are authorized, in your discretion, should you for any reason deem it necessary for your protection to request and obtain a consumer credit report for the undersigned.
20. Miscellaneous If any provision of this Agreement is held to be unenforceable; it shall not affect any other provision of this Agreement. The headings of each section of this Agreement are descriptive only and do not modify or qualify any provision of this Agreement. This Agreement and its enforcement shall be governed by the laws of the state of Texas and shall cover individually and collectively all accounts which the undersigned has previously opened, now has open or may reopen with you, or any introducing broker, and any and all previous, current and future transactions in such accounts. Except as provided in this Agreement, no provision of this Agreement may be altered, modified or amended unless in writing signed by your authorized representative. This Agreement and all provisions shall inure to the benefit of your successors, whether by merger, consolidation or otherwise, your assigns, the undersigned�s introducing broker, and all other persons specified in Paragraph 10. You shall not be liable for losses caused directly or indirectly by any events beyond your reasonable control, including without limitation, government restrictions, exchange or market rulings, suspension of trading or unusually heavy trading in securities, a general change in economic, political or financial conditions, war or strikes. You may transfer the accounts of the undersigned to your successors and assigns. This Agreement shall be binding upon the heirs, executors, administrators, successors and assigns of the undersigned.

Letter of Authorization - Disclosures

You may choose to use one of our software trading platforms, including DAS WEB, DAS Trader LITE or DAS Trader PRO. These and any other available platforms may incur monthly quote & other data fees per your agreement with Stock USA. If your agreement is based on trades per month, your trades only count when they are settled. Your software account starts the day you get your passwords.

All data feed cancellation requests must be made in writing, no later than 5 trading days before the last trading day of the month, or you will be billed for the following month. Your account can remain open for phone trading.

If you do not meet the requirements, there will be monthly quote & data fees charged to your account. This fee will vary based upon which software you choose to trade on.

Privacy Statement

I have read the Stock USA Privacy Statement and agree with its terms.
Yes
No

Margin Information

I have read the Margin Disclosure Document and understand and agree with its terms.
Yes
No

Risk Disclosure

I have read the following Disclosures Risk Policy , Extended Hours Trading,
Order Flow Payments , Penny Stocks , Traders Responsibilities , Risks of Options and understand and agree with their terms.

Yes
No

Business Continuity Plan

I have read the Penson Business Continuity Plan and the Stock USA Business Continuity Plan

Yes
No

Customer's signature X________________________ Dated:______________________

Joint owner signature X________________________ Dated:______________________

E-Mail Address:*Required

Broker Dealer Approval ______________________________

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Additional Forms (optional)

Photocopy of Passport
(Required for Non-US residents Only)

Please include a copy on a separate page.

All checks are Payable to: Penson Financial Services, Inc.
Mail checks to:
StockUSA Investments, Inc.
1717 Route 6, Suite 101
Carmel, NY 10512

Wire Instructions

All wired funds are to be sent as follows:

JP Morgan Chase
1 Chase Manhattan Plaza
New York, NY 10081
ABA Number: 021000021
F/A: Penson Financial Services
Account Number: 066-6-00030
FFC: Customer Name & Customer Acct #

International Swift Code: CHASUS33