Disnat Internet Site User Agreement

• 1. Definitions
• 2. Information Source
• 3. Disclosure and acknowledgment
• 4. Use of Password
• 5. Trade Orders
• 6. Confidentiality
• 7. Trademarks and Copyright
• 8. Limits of Liability
• 9. General Provisions

Whereas Disnat, a division of Desjardins Securities Inc., is offering you the use of its online information and transaction services (hereinafter, "Internet Services"), subject to your acceptance of each and every condition stipulated herein, and of each and every condition set forth in the appropriate account agreements, and subject to Disnat's right to discontinue its Internet Services at any time, either in general or for one particular customer, as user of these services (hereinafter the "User"), you consequently agree to each of the following conditions:

1. Definitions

1. Password means the User's personal password, as selected and/or subsequently modified by the User.
   
2. Trade Order means any order to buy, sell or short sell securities which is transmitted by the User to Disnat, using the Internet Services.
   
3. Securities includes any stock, any debt equity, any option, any unit of a mutual fund or any other securities.

2. Information Source

The information, facts and data provided by the Internet Services, including those provided to Disnat by any third party have been obtained through sources that appeared to us to be reliable. These information, facts and data are provided for information purposes only. Disnat does not represent or warrant, explicitly or implicitly, the timeliness, accuracy, quality or completeness of said information, facts and data. The User agrees and acknowledges that the information, facts and data provided by Disnat's information suppliers may include views and general recommendations but that Disnat does not endorse such views or recommendations, or give investment, tax, accounting or legal advice, or recommend the purchase and/or sale of any Securities.

Disnat and its information suppliers shall not be liable to the User for the unavailability, interruption, delay, incompleteness or inaccuracy of information, facts and data.

In no event shall Disnat and its information suppliers be liable in any way to the User, or to any other person whatsoever, for indirect, direct, special, punitive, consequential or incidental loss or damage (including, but not limited to, trading losses, loss of anticipated profits, loss by reason of shutdown of operations or increased operating expenses, or other indirect loss or damage) or any other loss or damage of any nature, arising from any cause whatsoever, even if either Disnat or its information suppliers have been advised of the possibility of such damage.

3. Disclosure and Acknowledgment

Disnat, a division of Desjardins Securities Inc., is solely providing an order-execution only service. Disnat, a division of Desjardins Securities Inc., is solely providing an order-execution only service. Disnat does not and will not provide any recommendations to its customers, and will not be responsible for making a suitability determination of trades when accepting orders from a customer. As a client of Disnat, you acknowledge and agree that you alone are responsible for your investment decisions and that Disnat does not and will not consider your financial situation, investment knowledge, investment objectives and risk tolerance when accepting orders from you. You represent and warrant to Disnat that you have the required investment knowledge and appropriate experience in order to make your own investment decisions, and the financial capacity and risk tolerance to sustain any trading losses or loss of anticipated profits that may arise from your investment decisions.

In using the Internet Services and, particularly, in giving trade orders, the User acknowledges that Disnat operates a discount brokerage service that does not provide any advice to its customers, and represents and warrants to Disnat that he has all the required knowledge and the pertinent experience to make his own choices regarding his investments, and that he has consulted or will consult, every time it was or will be either necessary or appropriate, his own investment, tax, accounting or legal advisors.

4. Use of Password

The User agrees not to select an obvious password, such as his date of birth and to change his password on a regular basis to reduce the potential for unauthorized use.

The User agrees not to disclose his password to any person, in any way, nor to inscribe it on a document that is easily accessed. In all cases, the User agrees to be responsible for all costs, charges, fees, operations, trades and transactions incurred through the use of his password. The User agrees that Disnat is not responsible for any loss, cost, charges, fees, operations, trades or transactions incurred through authorized (yourself) or unauthorized use of his password.

The User agrees to notify Disnat, without delay, as soon as he becomes aware of, or suspects any unauthorized use of his password, or if the document on which the password is written is lost or stolen.

The User agrees not to let a third party use his computer or leave his computer unattended after he has entered his password, unless he first logs off from the Internet Services.

5. Trade Orders

The User agrees and acknowledges that all trade orders are subject to verification of his Disnat account, among which, the sufficiency of funds. The User acknowledges the right of Disnat to refuse to execute any trade orders, at its sole discretion, in accordance with the applicable regulations.

Notwithstanding the above, the User hereby authorizes Disnat to execute any trade order submitted using the Internet Services, and agrees to be solely responsible for any instructions communicated to Disnat using the Internet Services.
The User accepts that it is not possible to change, via the Internet Services or otherwise, a trade order that has already been executed by Disnat.

The User agrees and acknowledges that, with respect to subsequent changes to a trade order that has not yet been executed, Disnat is required only to act on a "best efforts" basis, according to the circumstances.

6. Confidentiality

Disnat cannot guarantee the User the privacy and confidentiality of its Internet Services. Any instructions or messages sent by the User or Disnat can be lost, intercepted or modified. The User agrees that he is using the Internet Services at his own risk and that Disnat will not be responsible for any damages the User may incur by transmitting confidential information or trade orders.

The User also agrees and acknowledges that Disnat will not be responsible for any damages that the User may incur when Disnat transmits confidential information to the User.

7. Trademarks and Copyright

The User acknowledges that all information, facts and data conveyed through the Internet Services are proprietary to Disnat and/or to its information suppliers, and are protected by applicable copyright laws, trademarks laws, device marks law and any other applicable intellectual property laws. The User agrees not to download, retransmit, reproduce or modify the information supplied through the Internet Services without the prior consent of Disnat and its information suppliers, unless such reproduction is made for the User's personal use only, otherwise the User may be liable for legal proceedings and damages.

The User agrees that he shall receive information, facts and data solely for his own use. In no case shall the User retransmit or otherwise furnish information to any other person. The User acknowledges that said information, facts and data are and shall remain the property of Disnat and/or of its information suppliers.

Any names, services, words, phrases, icons or others that are used may constitute trade names, trademarks or service marks of their respective owners, the use of which may have been licensed to them. The display of trade names, trademarks or service marks does not imply that license of any kind has been granted to anyone.

8. Limits of Liability

A. Disnat, its directors, officers, employees or agents may, at their discretion, use the Internet Services to act in all matters on instructions or trade orders given or purporting to be given by the User, or on his behalf, and Disnat, its directors, officers, employees or agents shall not incur any liability, by reason of acting or not acting on such instructions or trade order. Neither Disnat, nor its directors, officers, employees or agents, nor any information supplier may be held liable for :

1. any inaccuracy, error, delay, interruption or omission of any information;
2. any loss or injury caused, in whole or in part, by contingencies beyond their control in procuring, interpreting, compiling, writing, editing, reporting or delivering any information or other services through the Internet Services;
3. technical hardware or software failures of any kind, lost or unavailable network connections, or failed, incomplete, garbled or delayed computer transmissions, whether caused by the User, Disnat or a third party, or by any of the equipment or programming associated with or utilized by the Internet Services, or by any technical or human error that may occur in processing a trade order.
4. any decision made or any action taken by the User in response to information provided through the Internet Services.
   

B. Notwithstanding the foregoing, the User agrees that the liability, if any, of Disnat and its directors, officers, employees or agents and its information suppliers arising out of any kind of legal claim (whether in contract, tort or otherwise) in any way connected with the Internet Services shall not exceed the amount the User paid to Disnat for the use of the Internet Services.

C. The User agrees that Disnat and its directors, officers, employees or agents and its information suppliers will not be liable for any loss or damage resulting from any cause over which Disnat, its directors, officers, employees or agents and its information suppliers have no control, including but not limited to, acts or omissions, failure of electronic or mechanical equipment or communication lines, telephone or other inter-connect problems, unauthorized access, theft, power failure, labour disputes or government intervention.

D. The User agrees to accept responsibility for any loss caused as a result of the submission of a trade order by the electronic means as more fully described in paragraph 8(c) herein.

E. Disnat and its directors, officers, employees or agents and its information suppliers do not warrant the accuracy, completeness, quality, adequacy or content of any information supplied by the Internet Services. Such information is provided "as is" without warranty or condition of any kind, either express or implied, including, without limitation, the implied warranties of merchantability, fitness for a particular purpose, or non-infringement. The Internet Services could include inaccuracies or typographical errors.

F. In no case shall Disnat or its directors, officers, employees or agents and its information suppliers be held liable for any special, direct, indirect, incidental or consequential damages, including without limitation, lost revenues, lost profits or loss of prospective economic advantage, resulting from the use or misuse of the Internet Services, of the information, documents, software or content thereof, even if advised of the possibility of such damages, or for any claim by another party.

Disnat and its information suppliers offer no guarantees of any kind, express, implied or statutory, with regard to the Internet Services, including the information provided by its information suppliers. In particular, though without limitation, Disnat and its information suppliers offer no guarantees as to the timely, truthful, sequential, complete, accurate, or continuous nature of the information, facts and data transmitter or shared, nor any implied warranties arising from trade usage, course of dealing, course of performance, or the implied warranties of merchantability or fitness for a particular use or purpose.

9. General Provisions

1. Modifications of provisions: The User agrees that Disnat may, at its sole discretion and without delay, modify any provision of this Agreement and inform the User via the Internet Services.
   
2. Interruption of the Internet Services: The User agrees and acknowledges that the Internet Services may be interrupted for any cause of any kind and the User agrees to undertake all the risks and suffer all the consequences of all interruptions for any cause of any kind.
   
3. Non Solicitation clause: The information, facts and data provided by the Internet Services do not constitute in any way a solicitation or an offer to buy or sell any securities.
   
4. Nullity of Provision: The invalidity or unenforceability of a provision or a condition shall attach only to such provision or condition and shall not affect the remainder of the Agreement.
   
5. Governing Law: This Agreement shall be governed and construed in accordance with the Canadian province where the User resides.
   
6. The parties acknowledge that they have required the original agreement and all related documents to be prepared exclusively in English. Les parties reconnaissent avoir exigé que la présente convention et tous les documents connexes soient rédigés exclusivement en anglais.
   

The User expressly acknowledges having read the Disnat Internet Services User Agreement, and agrees to abide by its provisions. The User acknowledges that he was given sufficient time and opportunity to obtain satisfactory explanations and clarifications of the nature and scope of the provisions of the Disnat Internet Services User Agreement, by consulting the appropriate sections on the web site, or by contacting Disnat by phone at 514-842-2685 or 1-800-268-8471, or in writing at 2020 University, 9th Floor, Montreal, Quebec H3A 2A5; as a result, the User declares that he understands and accepts all of the provisions of this Agreement.