Agreement and Limited Power Of Attorney For Participation in Interactive Brokers Stock Yield Enhancement Program ("Agreement and Power of Attorney") 

1. General: 


2. Limited Power of Attorney/Discretionary Authorization for Interactive Brokers to Initiate, Borrow and Terminate Loans of Customer Fully-Paid Securities Between Customer as Lender and IB as Borrower: 

3. Interest Paid To Customer and Rate Spreads: 


typically also uses Timber Hill as a "conduit" to the securities lending markets. This means that IB may lend the shares to Timber Hill, which will then lend the shares out to other parties in the securities lending market. 

C. Customer understands that IB may pay part of the net income earned from lending a Customer's shares to third parties such as Customer's financial advisor or introducing brokers who may introduce accounts to IB. These payments may reduce the interest rate IB will pay on Customer's collateral for the entire duration of the loan. 

4. Rights and Obligations of Customer and IB: 


5. Limited Role of Interactive Brokers - No Trading or Investment Advice or Discretion by IB: 

6. Securities Loaned Out By Customer May Not Be Protected by SIPC:
The provisions of the Securities Investor Protection Act of 1970 may not protect Customer as a lender with respect to securities loan transactions in which Customer lends to Interactive Brokers Customer's Fully-Paid Securities. Therefore, the collateral delivered to Customer (and indicated on Customer's account statement) by Interactive Brokers may constitute the only source of satisfaction of IB's obligation in the event that IB fails to return the securities. 


7. Bankruptcy or Insolvency:
In the event that Interactive Brokers: (1) applies for or consents to a receiver, custodian, trustee or liquidator of itself or its property; (2) admits in writing its inability, or becomes generally unable, to pay its debts as such debts become due; (3) makes a general assignment for the benefit of its creditors; or (4) files, or has filed against it, a petition for a Chapter 11 bankruptcy filing or a protective decree under Section 5 of the Securities Investor Protection Act of 1970 (SIPA), this Agreement and all outstanding loans shall be terminated and Customer shall have the right to return of Customer's loaned shares or the right to the collateral securing such loaned shares as specified in the Interactive Brokers Master Securities Lending Agreement for Fully-Paid Lending. 

8. Arbitration:
The Interactive Brokers Customer Agreement contains arbitration clauses requiring Customer and IB t o arbitrate any disputes. Such arbitration clauses are incorporated herein by reference. Customer acknowledge and agrees that all disputes regarding this Agreement and Power Of Attorney, Customer's account(s) or IB's provision of services to Customer are subject to arbitration.