Your use of the MarketGrader web site and content (which is referred to collectively as the “Web Site and Content” and which includes www.marketgrader.com, any other website of MarketGrader to which you have access or any content provided by MarketGrader posted at web sites administered or controlled by third parties) is conditioned upon your acceptance of each and every term of this Terms of Use Agreement (the “Agreement”). By using any Website and Content you agree to the terms of this Agreement.

I. Subscription

Your use of public pages at the MarketGrader websites or content posted at third party web sites in connection with agreements between MarketGrader and such third parties does not entitle you to MarketGrader’s subscription services and content. To access such services and content you must register and pay for a subscription at http://www.marketgrader.com/marketgraderNew/nonmember/freeTrial.jsp.

II. User Information

You represent and warrant to MarketGrader that you are 18 years or older and will not use any Website and Content in contravention of the terms of this Agreement.

III. Content Providers

You acknowledge and understand that certain content and data in the Web Site and Content is provided by third party content providers (collectively, the “Providers”) through or under license and other agreements between MarketGrader and such Providers. The terms and conditions of use of all other Providers also apply with respect to the content provided by them. Neither MarketGrader nor any Provider, nor any of their affiliates, successors, assigns, employees, officers or directors, shall have any liability for the accuracy or completeness of the information or software furnished or made available at or through Web Site and Content or for delays, interruptions or omissions in such content or data, or for any lost profits, special, indirect or consequential damages.

VI. Use Limitations

The Web Site and Content design and all text, graphics, software, information, content, and other material displayed on or that can be downloaded (collectively referred to as “MG Content”) are either the property of, or used with permission by, MarketGrader and are protected by copyright, trademark and other laws and may not be used except as permitted in this Agreement or with the prior written permission of the owner of such MG Content (whether MarketGrader, Providers or others). You may only use the MG Content (whether provided by MarketGrader, Providers or others) for personal use. In addition, you may not, and you are not authorized to: (i) modify the MG Content in any way, (ii) without prior written consent of the owner of the MG Content, reproduce, publicly display, furnish, transmit or distribute the MG Content to any other person for reuse or retransmission, (iv) reproduce, publicly display, furnish, transmit or distribute the MG Content or otherwise use any such MG Content for any public or commercial purpose or (iv) use or permit anyone else to use the MG Content for any unlawful or unauthorized purpose. Any unauthorized use of any the MG Content is a breach of this Agreement and may violate copyright laws, trademark laws, laws of privacy and publicity, and other laws and regulations.

V. Copyright and Trademarks

The MG Content available in Web Site and Content is the property of MarketGrader or its Providers and is protected by copyright and other applicable laws, treaties, and conventions. All rights to such MG Content are reserved. Certain names, logos, and/or phrases on these pages may constitute trademarks and/or copyrights of MarketGrader or its Providers. The marks "MARKETGRADER," “MARKETGRADER.COM,” “BONDGRADER.COM,” “STOCKGRADER.COM” and the MARKETGRADER LOGO are trademarks of MarketGrader. All rights reserved. All other trademarks appearing in Web Site and Content are the property of their respective owners, including, in some instances, MarketGrader. Reproduction in whole or in part of any trademarks or copyrighted material is strictly prohibited without explicit written permission of the owner such trademark or copyrighted material.

VI. Nature of Website and Content

You understand and acknowledge that MarketGrader is neither an investment advisory service nor an investment advisor. No data, information or analyses provided, or made available, by MarketGrader is a suggestion that any particular investment is suitable for you. You, and all investors, should always check with a licensed financial advisor (and tax advisor), to determine the suitability of any investment. MarketGrader recommends to you (and anyone trading securities) that you should do so with caution and that, prior to the execution of a security trade based upon information from MarketGrader, the Web Site and Content, or any other Provider, you should consult with your broker or other financial representative. You agree that neither MarketGrader nor its affiliates or Providers of MG Content is, or shall be, responsible for any investment made by you regardless of whether you used, or relied on, any information from the Web Site and Content.

All investors are encouraged to fully investigate any security before making an investment. Investors should obtain annual reports and other company information to complete their own due diligence in any investment. As a starting point to this investigation, the Securities and Exchange Commission (the "SEC") maintains a web site that contains reports, proxy and information statements, and other information regarding certain companies that file electronically with the SEC. In addition, the SEC also provides information on various kinds of cyber-fraud. The address of this SEC web site is http://www.sec.gov/. Likewise, the National Association of Securities Dealers Regulation provides its own insight careful and prudent investing at http://www.nasdr.com/.

While MarketGrader strives to present accurate and useful information, MarketGrader makes no guarantee of its accuracy or completeness. All information, data analyses and opinion in the Web Site and Content is subject to change without notice. Opinions and recommendations in the Web Site and Content are not be construed as investment advice. Do not assume that any recommendations, insights, charts, theories, or philosophies (whether presented in the Web Site and Content or otherwise) will ensure a profitable investment.

VII. DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY

A. YOU EXPRESSLY AGREE THAT USE OF THE FORUMS AND THE WEB SITE AND CONTENT ARE AT YOUR SOLE RISK. NEITHER MARKETGRADER, ITS AFFILIATES, PROVIDERS NOR ANY OF THEIR RESPECTIVE EMPLOYEES, AGENTS, THIRD-PARTY CONTENT PROVIDERS OR LICENSORS WARRANTS THAT USE OF THE WEB SITE AND CONTENT WILL BE UNINTERRUPTED OR ERROR FREE; NOR DO THEY MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM USE OF THE WEB SITE AND CONTENT OR AS TO THE ACCURACY, RELIABILITY OF CONTENT OF ANY INFORMATION, SERVICE, OR MERCHANDISE PROVIDED THROUGH THE WEB SITE AND CONTENT OR THE FORUMS.

B. THE WEB SITE AND CONTENT AND THE FORUMS ARE PROVIDED ON AN "AS IS" BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF TITLE OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OTHER THAN THOSE WARRANTIES WHICH ARE INCAPABLE OF EXCLUSION, RESTRICTION, OR MODIFICATION UNDER THE LAWS APPLICABLE TO THIS AGREEMENT.

C. THE DISCLAIMERS OF LIABILITY CONTAINED IN THIS SECTION APPLY TO ANY DAMAGES OR INJURY CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT OR DESTRUCTION OR UNAUTHORIZED ACCESS TO, ALTERATION OF, OR USE OF RECORD, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE, OR UNDER ANY OTHER CAUSE OF ACTION. YOU SPECIFICALLY ACKNOWLEDGE THAT MARKETGRADER IS NOT LIABLE FOR THE DEFAMATORY, OFFENSIVE, OR ILLEGAL CONDUCT OF OTHER THIRD PARTIES, SUBSCRIBERS, OR OTHER USERS OF THE FORUMS AND THAT THE RISK OF INJURY FROM THE FORGOING RESTS ENTIRELY WITH YOU.

D. IN NO EVENT WILL MARKETGRADER, ANY PROVIDERS OR ANY PERSON OR ENTITY INVOLVED IN CREATING, PRODUCING, OR DISTRIBUTING WEB SITE AND CONTENT BE LIABLE, AND YOU WAIVE ALL CLAIMS, FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES (INCLUDING BUT NOT LIMITED TO LOST PROFITS OR TRADING LOSSES) ARISING OUT OF THE USE OF OR INABILITY TO USE THE WEB SITE AND CONTENT OR OUT OF THE BREACH OF ANY WARRANTY. YOU HEREBY ACKNOWLEDGE THAT THE PROVISIONS OF THIS SECTION SHALL APPLY TO ALL CONTENT IN THE WEB SITE AND CONTENT AND THE FORUMS.

E. MARKETGRADER NEITHER ENDORSES NOR IS RESPONSIBLE FOR THE ACCURACY OR RELIABILITY OF ANY OPINION, ADVICE, OR STATEMENT IN THE WEB SITE AND CONTENT AND FORUMS, NOR FOR ANY OFFENSIVE, DEFAMATORY, OR OBSCENE POSTING MADE ON THE FORUMS BY ANYONE OTHER THAN AUTHORIZED MARKETGRADER EMPLOYEE SPOKESPERSONS WHILE ACTING IN THEIR OFFICIAL CAPACITIES. UNDER NO CIRCUMSTANCES WILL MARKETGRADER BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY YOUR RELIANCE ON INFORMATION OBTAINED THROUGH THE WEB SITE AND CONTENT AND/OR ANY POSTING ON THE FORUMS. IT IS YOUR RESPONSIBILITY TO EVALUATE THE ACCURACY, COMPLETENESS, OR USEFULNESS OF ANY INFORMATION, OPINION, ADVICE, OR OTHER CONTENT AVAILABLE THROUGH THE WEB SITE AND CONTENT AND/OR THE FORUMS. PLEASE SEEK THE ADVICE OF PROFESSIONALS, AS APPROPRIATE, REGARDING THE EVALUATION OF ANY SPECIFIC INFORMATION, OPINION, ADVICE, OR OTHER CONTENT, INCLUDING BUT NOT LIMITED TO FINANCIAL, HEALTH, OR LIFESTYLE INFORMATION, OPINION, ADVICE, OR OTHER CONTENT.

F. MARKETGRADER DOES NOT ENDORSE, WARRANT, OR GUARANTEE ANY PRODUCT OR SERVICE OFFERED BY A THIRD PARTY IN THE WEB SITE AND CONTENT AND WILL NOT BE A PARTY TO OR IN ANY WAY MONITOR ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES. AS WITH THE PURCHASE OF A PRODUCT OR SERVICE THROUGH ANY MEDIUM OR IN ANY ENVIRONMENT, YOU SHOULD USE YOUR BEST JUDGMENT AND EXERCISE CAUTION WHERE APPROPRIATE.

G. YOU SPECIFICALLY ACKNOWLEDGE THAT IN NO EVENT WILL MARKETGRADER, ITS AFFILIATES, OR ANY OF THEIR RESPECTIVE EMPLOYEES OR AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES ARISING OUT OF (i) YOUR USE OF ANY BROWSERS OWNED OR OPERATED BY ANY PARTY AND/OR (ii) THE DOWNLOADING OF ANY SOFTWARE IN CONNECTION WITH YOUR USE OF THE WEBSITE AND CONTENT.

H. YOU AGREE THAT THE LIABILITY OF MARKETGRADER, ITS AFFILIATES, AGENTS, AND LICENSORS, IF ANY, ARISING OUT OF ANY KIND OF LEGAL CLAIM (WHETHER IN CONTRACT, TORT, OR OTHERWISE) IN ANY WAY CONNECTED WITH THE WEB SITE AND CONTENT OR THE INFORMATION IN THE WEB SITE AND CONTENT SHALL NOT EXCEED THE AMOUNT YOU PAID TO MARKETGRADER OR THIRD PARTIES AS SUBSCRIPTION OR USE FEES. BECAUSE SOME STATES/JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, THE ABOVE LIMITATION MAY NOT APPLY TO YOU.

VIII. INDEMNIFICATION

You agree to indemnify and hold MarketGrader, its employees, its officers, and its agents harmless from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney's fees) arising from your use of the Web Site and Content or from your violation of this Agreement or any third party's rights including but not limited to copyright, property, and privacy rights. This indemnification and hold harmless obligation will survive this Agreement and your use of the Web Site and Content.

XI. LINKS TO THIRD-PARTY SITES

Some of the Web Site and Content contains hyperlinks to other web sites operated by parties other than MarketGrader and parties with which MarketGrader has an agreement to provide MG Content. Such hyperlinks are provided for your reference only. MarketGrader is not responsible for the availability of these external sites nor is it responsible for any of the contents, advertising, products, or other materials on such external sites. Under no circumstances shall MarketGrader be held responsible or liable, directly or indirectly, for any loss or damage caused or alleged to have been caused in connection with the use of or reliance on any content, goods, or services available on such external site. Any concerns regarding any external link should be directed to its respective site administrator or webmaster. THIS MEANS THAT YOU, AND NOT MARKETGRADER, ARE ENTIRELY RESPONSIBLE FOR ALL CONTENT YOU UPLOAD, POST, OR OTHERWISE TRANSMIT VIA THE WEB SITE AND CONTENT. WE DO NOT GUARANTEE THE ACCURACY, INTEGRITY OR QUALITY OF CONTENT AT OR AVAILABLE AT SUCH EXTERNAL SITES. THE INCLUSION OF ANY LINK ON OUR WEB SITE AND CONTENT TO ANOTHER WEBSITE DOES NOT IMPLY ENDORSEMENT OF THE OTHER SITE OR ANY ASSOCIATION WITH ITS OPERATION.

X. USE OF BULLETIN BOARDS, CHAT ROOMS, AND OTHER COMMUNICATION FORUMS

You are solely responsible for any information you post in electronic bulletin boards, chat rooms, or other message or communication facilities (collectively, "Forums") on or related to the Web Site and Content. The Web Site and Content and the Forums shall be used for lawful purposes only. No material shall be posted on or transmitted through the Forums which violates or infringes in any way upon the rights of others, which is unlawful, threatening, abusive, defamatory, invasive of privacy or publicity rights, vulgar, obscene, profane, indecent, or otherwise objectionable, which encourages conduct that would constitute a criminal offense, gives rise to civil liability, or otherwise violates any law. No conduct shall be undertaken that, in MarketGrader’s opinion, restricts or inhibits any other user from using or enjoying the Forums. The Forums shall not be used to solicit other subscribers to become users of competitive online information services. Advertising or commercial solicitation may be posted on or transmitted through the Forums subject to MarketGrader’s express prior approval and solely in accordance with the terms and conditions imposed by MarketGrader with respect thereto. If MarketGrader is notified that a message posted on MarketGrader’s Forums violates the legal rights of others or the stated guidelines for posting messages, MarketGrader reserves the right to remove the message without any liability to you.

You agree not to upload, post, or otherwise make available any material protected by copyright, trademark, or other proprietary right on the Web Site and Content, without the express permission of the owner of the copyright, trademark, or other proprietary right. The burden of determining that any material is not protected by copyright rests on you. You shall be solely liable for any damages resulting from any infringement of copyrights, proprietary rights, or any other harm resulting from any uploading, posting, or submission.

You agree not to upload files to the Web Site and Content that contain viruses, corrupted files, or other similar software or programs that may damage the operation of another person's computers, software, web sites, or network. You will be solely responsible for damages arising from any claims that files posted by you caused damage to the operation of another person's computer, software, web sites, or network.

You agree not to advertise or offer to sell any goods or services, or promote any surveys, contests, chain letters, or any commercial purpose on or through the Web Site and Content.

You acknowledge that all Forums are public and not private communications. MarketGrader shall have the right, but not the obligation, to monitor the content of the Forums to determine compliance with this agreement and any other operating rules established by MarketGrader. Further, you acknowledge that chats, postings, conferences, and other communications by other users are not endorsed by MarketGrader, and such communications shall not be considered reviewed, screened, or approved by MarketGrader. MarketGrader reserves the right in its sole discretion to edit, refuse to post, or remove any material submitted to or posted on the Forums. Without limiting the foregoing, MarketGrader shall have the right to remove any material or contents of the Forums received from you or other users, including without limitation bulletin board postings, that MarketGrader, in its sole discretion, finds to be in violation of the provisions hereof, otherwise objectionable, or stale. Furthermore, MarketGrader reserves the right to deny or block, in its sole discretion, your access to the Web Site and Content or any portion thereof without notice.

XI. USE OF YOUR TRANSMITTED INFORMATION

Other than personally identifiable information, which is subject to MarketGrader’s Privacy Policy, any material, information, suggestions, ideas, concepts, know-how, techniques, questions, comments or other communication you transmit or post to the Web Site and Content in any manner ("User Communications") is and will be considered non-confidential and non-proprietary. MarketGrader reserves the right to republish the material contributed by you. By posting a message, you expressly grant to MarketGrader the royalty free, perpetual, irrevocable, non-exclusive right and license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform, and display any User Communications worldwide and/or to incorporate it in other works in any form, media, or technology now known or later developed. MarketGrader, each of its affiliates and/or their designees may use any or all User Communications for any purpose whatsoever. MarketGrader may, but is not obligated to, monitor or review any User Communications. MarketGrader shall have no obligations to use, return, review, or respond to any User Communications. MarketGrader will have no liability related to the content of any such User Communications, whether or not arising under the laws of copyright, libel, privacy, obscenity, or otherwise. MarketGrader retains the right to remove any or all User Communications that includes any material MarketGrader deems inappropriate or unacceptable.

XII. INVESTIGATION OF UNLAWFUL CONDUCT

MarketGrader will cooperate fully with federal and state enforcement officials investigating unlawful behavior on or through the Web Site and Content, and you agree to do the same. You acknowledge and agree that MarketGrader may preserve content and may disclose content if required to do so by law or in the good faith belief that such preservation or disclosure is reasonably necessary to: (i) comply with legal process; (ii) enforce this Agreement; (iii) respond to claims that any content violates the rights of third-parties; or (iv) protect the rights, property or personal safety of the Web Site and Content, its users, its subscribers and the public. Please see our Privacy Policy for more details.

XIII. MODIFICATION OF THESE TERMS AND CONDITIONS

MarketGrader shall have the right at any time to impose, change, or modify the terms and conditions applicable to your use of the Web Site and Content, or any part thereof, including, but not limited to, content, hours of availability, and equipment needed to access or use, and/or your use of the Forums or any part thereof, or to impose new terms and conditions. Such changes, modifications, additions, or deletions shall be effective immediately upon notice thereof, which may be given by means including, but not limited to, posting in the Web Site and Content and/or the Forums a revised version of this Agreement, and notification by electronic or conventional mail. If any such change is unacceptable to you, you shall cease using all, and are not authorized to use any, of the MG Content immediately. Any use of the Web Site and Content and/or any use of the Forums after such change in this Agreement shall conclusively be deemed to constitute your acceptance of such changes, modifications, additions, or deletions. You agree to review the terms and conditions periodically to be aware of such revisions. You may also be subject to additional terms and conditions imposed by third-party content providers in connection with third-party content, software, or services.

XIV. EQUIPMENT

You are responsible for obtaining and maintaining all telephone, computer hardware and other equipment needed for access to and use of the Web Site and Content, and Forums, and you are responsible for all charges related thereto.

XV. PRIVACY POLICY

Personal data provided by you to MarketGrader will be used only in connection with services provided in the Web Site and Content and will not be given to others. While MarketGrader will seek to require Providers and other parties to adhere to MarketGrader's rivacy policies, MarketGrader does not bear any responsibility for any actions or policies of such third parties. You should be aware that when you voluntarily disclose personal information (e.g., username, email address) in the Forums, that information can be collected and used by others and may result in unsolicited messages from other posters or parties.

XVI. CHOICE OF LAW AND FORUM

This Agreement shall be governed by and construed in accordance with the internal laws of the State of Florida without reference to principles of choice of law, conflicts of law, or comity. Any suit, action or other legal proceeding arising out of this Agreement shall be brought in the courts of the State of Florida, County of Miami-Dade. The parties hereby consent to the jurisdiction of such court in any suit, action or proceeding and waive any objection which any party may have to the laying of venue of any such suit, action or proceeding in Miami-Dade County, Florida. Except that, in the event that any suit, action or proceeding arising out of the Agreement is based on a claim over which exclusive jurisdiction is vested in the Courts of the United States such suit, action or proceeding shall be brought in the Courts of the United States for the State of Florida and venue shall lay in the United States District Court for the Southern District of Florida.

Prior to filing or bringing any legal proceeding against MarketGrader, you agree to first notify MarketGrader in writing of the claim or claims you will allege against MarketGrader in any such legal proceeding. You will include in such notice sufficient detail to enable MarketGrader to investigate your claim. You agree that you waive each and every claim against MarketGrader if no legal proceeding or suit is filed within six (6) months from the event giving rise to such claim.

XVII. MISCELLANEOUS

This Agreement and any operating rules for the Web Site and Content and the Forums established by MarketGrader constitute the entire agreement of the parties with respect to the subject matter hereof, and supersede all previous written or oral agreements between the parties with respect to such subject matter. No waiver by either party of any breach or default hereunder shall be deemed to be a waiver of any preceding or subsequent breach or default. The section headings used herein are for convenience only and shall not be given any legal import.