Client´s Contract by WillLawrence

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Winvestors Financial Advisors Ges.m.b.H Wipplingerstr. 34 A-1010 Wien

Client´s Contract
between:
Winvestors Financial Advisors Ges.m.b.H.
(Hereinafter referred to as the "company") on one hand and

The client enters into a separate agreement with the Clearing Company which is not connected to this contract. The client will receive complete legal documentation and a contract form for such an account from the Clearing Company directly. The company states to the best of its knowledge, that the client will receive an account statement in English monthly respectively quarterly from the Clearing Company which will contain detailed information and proper documentation about all transactions performed during the preceding month or quarter of the year. If the Clearing Company decides to, these statements might also be routed through the company, but then the client will have to cover the handling costs of the company.

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The client is also informed that the customer himself is responsible for the correct statement and proper reporting of his tax declarations to the tax authorities with regard to security transactions on his account.

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1. The company acts as agent regarding the purchase and sale of securities. 2. The company will act on the client's explicit order only. Orders can be communicated in written form (letter, facsimile) or verbally. The company is entitled to decide at its free discretion, whether it will accept an order or not. The client receives a written confirmation from the clearing company / broker dealer for any transaction ordered and performed. Should such a confirmation not state the order correctly, the client has to inform the company in written form immediately, but within two weeks at the latest. If there is no written complaint explicitly reported by the client within this period of time, the transaction performed will be granted to be correct and consequently the client waives in this case his rights to claim for compensation of damages caused by the company. Each single confirmation form will state this legal consequence for customer's guidance. The client is duly informed, that by missing to complain in time against such a confirmation he might also loose his right to claim against the clearing company and the broker through whom the order had been routed. Any security transaction ordered will be routed either through US Clearing Company & Broker Dealer Smith, Moore & Co. and/or UK Clearing Firm AMT Futures Ltd.

The client hereby declares, that he will issue orders with sufficient financial cover only. In case of uncovered transactions the client will have to hold the company harmless for all costs related to such transactions and is solely responsible for the cover of all expenses. The same applies for purchases or sales ordered by the client and revoked or questioned at a later stage.

3. The company cannot be held responsible for losses resulting from measures or omissions of the Clearing Company, the depository, the clearing house or third parties involved in such transaction outside the company's influence and / or without the company's intention and knowledge. To the extent as permitted by law, any kind of liability of the company for negligence is excluded. By this individual agreement the company also excludes any liability caused by lack of authorization of the transmitter, improper use of telecommunication equipment forgery or manipulation of signatures, passwords or documents and caused by errors in transmission or misleading orders, unless the company is liable for gross negligence or intention. The client accepts that the company's agents are not allowed to pass to a client forecasts or guarantees with regard to market tendencies or developments. The client must not initiate transactions based on personal forecasts, predictions or guarantees offered by the company's staff only. The company offers access to independent market information only and will never ever recommend a specific transaction. The final decision for any trade has to be done exclusively by the client himself.

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The client declares, that he will especially be careful when trading in the markets, making investments or give the company specific transaction orders. The client will enter in such investments only, after having gathered information about the markets concerned in advance and being sufficiently experienced at least with comparable domestic transactions. The client declares to make an investment only after having ensured, that his overall financial situation allows such a transaction, which should be profit oriented but based on sound knowledge about the basics of such trade and the possible risks involved. 4. Both parties may - without giving reason - terminate this contract by written notice at any time. 5. The client may not transfer any rights or duties arising out of this contract to a third party. 6. The client accepts that conversations on telephone or during meetings - especially when orders are placed may and will be recorded and such recordings and written notes may and will be used as evidence for the purpose of internal audit of the company, in a legal dispute, in front of a court as well as in administrative proceedings . 7. All disputes arising out of this contract - as far as permitted by law - shall be governed by the laws of Austria and submitted to the jurisdiction of the Court of Vienna Inner City, Austria. 8. This customer contract has legal priority and replaces any other documentation like statements, brochures and written or verbal notes issued or transmitted by the company and/or its business partners. Amendments have to be made in writing to be valid. 9. The customer confirms having received, read and understood the brochure "Chances and Risks in the Security business" containing a common risk information and special explanation on risks with regard to bonds, stocks, mutual funds and options. 10 The company is obliged to keep any information and data with regard to the client and histransactions strictly confidential. The company will release information to a third party after proper authorization by the client only or if the company is forced to act according to applicable law and / or a federal court decision. 11. In case the client has consumer status as defined by the Austrian Consumer Protection Act (Konsumentenschutzgesetz - KSchG) and has verified and signed his contractual declaration outside the permanent premises of the company, the client may cancel the contract or the contractual declaration within one week after verification of the contract. This seven day period starts with the receipt of this document but not before the contract has been duly signed. The consumer has agreement if no right of rescission from the

· the client himself initiated the business relationship with the company or if · this contract was concluded without prior negotiations with the company and/or its representatives. To become legally valid such a rescission needs to be stated in written format; whereby it is sufficient when the client has remitted either a letter to the company or its representative stating his decision or returns the company's original contract form with a hand written note showing his intention to cancel the agreement. Furthermore the consumer may cease his contractual declaration or the contract, if important circumstances beyond the client's influence - with regard to his contractual declaration (whereby the company declared during the negotiations that they will occur) do not happen, change or take place to a significantly minor degree only. Such important circumstances can be: · - expectations of support or approval of a third party necessary for providing the services by the company or the usage of these services by the consumer, - prospect of public support and - possibility to receive a loan. The rescission has to be duly announced within a week after the consumer can realize that such circumstances do not occur or will happen to a minor degree only. The consumer has no right to cancel the contract, if during the negotiation period the customer was already aware or should have known that the afore- mentioned circumstances will not occur or will occur to a minor degree only, or if the company is willing and prepared to amend the contractual agreement accordingly. To become legally valid such a cancellation needs to be stated in written format; whereby it is sufficient if the consumer has remitted either a letter to the company or its representative stating his decision to refrain from that agreement or if he returns the company's original contract form with a hand written note showing his intention to reverse his express consent. 12. The customer confirms having received, read and understood the Information - Brochure for Private Clients (Anlegerinformation für Privatkunden), Execution Policy Information, Principals of the Conflict of Interest Policy (Grundsätze für den Umgang mit Interessenskonflikten), General Information for Customers about the Acceptance of Benefits and Provisions (Allgemeine Information für Kunden über die Annahme von Vorteilen und Provisionen). 13. The client herewith grants his consent, that the company may contact him for advertising purposes, including but not limited to advertising financial instruments or investments of any kind, by telephone, facsimile, e-mail or any other source of telecommunication. This consent may be revoked in writing at any time.

Date and Client Signature

Date and Company Signature

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