TERMS OF USE

NOTE: IMPORTANT. PLEASE READ THE TERMS COMPLETELY.

PLEASE READ OUR TERMS OF USE BEFORE YOU USE OUR WEB SITE

Sovestor.com provides its web site, located at http://www.Sovestor.com (the "Site"), free of charge to you, an individual user ("you") for your individual usage, subject to compliance with the terms and conditions set forth herein.
By using the Site, you agree to be bound by our Terms of Use ("TOU"). If you do not agree to the terms and conditions contained in the TOU, we do not consent to provide you with access to the Site, and you should cease your use of it.

Sovestor.com is a public website that provides analysis of and commentary on the financial services industry and companies that engage in financial services, as well as general commentary. Sovestor.com is not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission or with any state securities regulatory authority. The material provided on our website is for general informational purposes only. No information on the site or linked sites is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security, or fund. The information on the site should not be relied upon for purposes of transacting securities or other investments. Sovestor.com cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. You, the user, bear responsibility for your own investment research and decisions, and should seek the advice of a qualified securities professional before making any investment.

Important Securities Disclaimer

Sovestor.com is operated by an investment firm (the "Firm”). You understand that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. To the extent any of the content published on the Site may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.
You understand and agree that, from time to time, outside contributing columnists or their affiliates may write about securities in which they or their firms have a position, and that they may trade for their own account. In cases where the position is held at the time of publication, appropriate disclosure is made. In addition, outside contributing columnists may be subject to certain restrictions on trading for their own account. However, you understand and agree that at the time of any transaction that you make, one or more contributing columnists or their affiliates may have a position in the securities written about.

The Firm owns and operates the Site. The persons who contribute content to the Site are in most instances principals or employees of the Firm.

Use of the Sovestor.com website is covered by the following terms and conditions, which describe your rights and responsibilities fully. By using this website, you, the site visitor or user, agree to the following terms and conditions:
Sovestor.com may make available third party services linked through the websites subject to your compliance with the terms and conditions set forth in this Agreement. By using any of the sites, you agree to be bound by these terms and conditions. If you do not agree to these terms and conditions, you should not use the sites. We will not be held liable for any outcomes subject to such activity.

  This Agreement is made between Sovestor.com and you, the user of the site or linked sites. We reserve the right at any time to change the terms and conditions of this Agreement; change the site, including eliminating or discontinuing any content on or feature of any of the sites. You agree and acknowledge that Sovestor.com is not an investment advisor. Sovestor.com makes available certain financial market data, quotes, news, research and opinions or other financial information that has been independently obtained by certain financial market information services, financial publishers, various securities markets including stock exchanges and their affiliates, investment bankers, and other providers or has been obtained by Sovestor.com. Sovestor.com does not guarantee or certify the accuracy, completeness, timeliness or correct sequencing of the information made available through Sovestor.com, the information providers or any other third party transmitting information through Sovestor.com's website. The market data is provided 'as is' and on an 'as available' basis. There is no warranty of any kind, express or implied, regarding the market data. We are not responsible for, and you agree not to hold us liable for, lost profits, trading losses or other damages resulting from inaccurate, defective or unavailable market data. You agree that neither Sovestor.com, the information providers, nor the information transmitters shall be liable in any way for the accuracy, completeness, timeliness or correct sequencing of the information, or for any decision made or action taken by you relying upon the information. You understand that none of the information available through Sovestor.com constitutes a recommendation or solicitation that you should purchase or sell any particular security. Research, analysis, news or other information made available through electronic channels (e.g., Sovestor.com) does not constitute an individualized recommendation to you to buy or sell a particular security. Sovestor.com does not give legal advice; and Sovestor.com does not give tax or estate planning advice.

You agree NOT to hold Sovestor.com liable for any trading losses, lost profits or other damages resulting from your use of any information Sovestor.com may provide, whether it is prepared by Sovestor.com or a third party. Sovestor.com is provided to you solely for your own entertainment purposes. You may not sub-license, resell, or commercially exploit Sovestor.com materials without the express written consent of Sovestor.com, or use Sovestor.com or its materials for any unlawful purpose. You may use Sovestor.com for your private, non-commercial use only. Sovestor.com may deny you access to all or part of this service without notice if you engage in any conduct or activities that Sovestor.com believes in it sole and absolute discretion violates applicable law or any terms of this website. You agree to indemnify, defend, and hold harmless Sovestor.com, its subsidiaries, affiliates, and their respective officers, directors, shareholders, members, agents, representatives, employees, successors and assigns for, from and against any and all liabilities, costs and expenses (including reasonable attorneys' fees), related to any violation of the terms and conditions by you. If any portion of the terms and conditions is held to be unenforceable, the unenforceable portion shall be construed in accordance with applicable laws as nearly as possible to reflect the original intentions of the parties and the remainder of the provisions shall remain in full force and effect.  Sovestor.com's failure to insist upon or enforce strict performance of any provision of the terms and conditions shall not be construed as a waiver of any provision or right. Neither the course of conduct between parties nor trade practice shall act to modify any provision of the terms and conditions. Sovestor.com reserves the right in its sole discretion to change, modify, add or remove these terms and conditions in whole or in part and at any time.

By using the Site, you agree not to: restrict or inhibit any other user from using the Site, including, without limitation, by means of 'hacking' or 'cracking' or defacing any portion of any of the Site; use the Site for any unlawful purpose; express or imply that any statements you make are endorsed by us, without our prior written consent. You further agree not to sell, sublicense, modify, translate or disassemble any portion of any of the Site; remove any copyright or other proprietary rights notices contained in the Site; 'frame' or 'mirror' any part of the Site; use any automatic device or process to retrieve, index or in any way reproduce or circumvent the navigational structure or presentation of the Site or its contents; collect information about Site users.

While using the Site you also agree to comply with all applicable laws, rules and regulations.
Sovestor.com is solely directed to individuals residing in the United States. We make no representation that materials in the sites are appropriate or available for use in other locations. Those who choose to access the Site from other locations do so on their own initiative and at their own risk, and are responsible for compliance with local laws, if and to the extent applicable.
Sovestor.com may contain links to other Internet websites or resources. We neither control nor endorse such other websites, nor have we reviewed or approved any content that appears on such other websites. You acknowledge and agree that we shall not be held responsible for the legality, accuracy, or inappropriate nature of any content, advertising, products, services, or information located on or through any other websites, nor for any loss or damages caused or alleged to have been caused by the use of or reliance on any such content.

Sovestor.com reserves the right to publish all reader email, while keeping readers’ identities confidential.

Sovestor.com is a public web site operated by a private investment management company (the "Firm"). Some articles are authored by employees of the Firm while others are authored by third parties. Under no circumstances does any article posted on Sovestor.com represent a recommendation to buy or sell a security. The Firm does not vouch for the accuracy of any information contained in any article posted herein and the views expressed in any article herein do not necessarily reflect the views of the Firm. The Firm buys and sells securities on behalf of its fund investors and may do so, before and after any particular article herein is published, with respect to the securities discussed in any article posted herein. The Firm's appraisal of a company's prospects is only one factor that affects the Firm's decision whether to buy or sell shares in that company. Other factors might include, but are not limited to, the presence of mandatory limits on individual positions, decisions regarding portfolio exposures, and general market conditions and liquidity needs. As such, there may not always be consistency between the views expressed in this article and the Firm's trading on behalf of its fund investors. There may be conflicts between the content posted on Sovestor.com and the interests of the Firm.

Additional Terms of Use to complement the above Terms of Use:

By accessing this web site or the Firm website and any materials presented herein (the "Site"), you accept in their entirety the following terms and conditions pertaining to the use of the Site. Sovestor.com reserves the right to change the terms, conditions and notices under which this Site is offered without notice at any time. Each use of the Site constitutes your agreement to be bound by the then-current terms and conditions set forth in these Terms of Use

1. Limited License to Use the Site

Except as specifically permitted below, nothing contained in these Terms of Use or the Site itself either grant or will be construed to grant to you or any third party any title or interest in, or any license or right to use or reproduce, any image, text, software, code, trademark, logo or service mark contained in the Site, including without limitation the name or logo of Sovestor.com or any of its affiliates. Any data that you transmit to the Site (including without limitation personally-identifiable information) becomes the property of Sovestor.com and may be used by Sovestor.com for any lawful purpose without restriction, subject to the Privacy Policy set forth below. Sovestor.com reserves, and will enforce to the fullest extent possible, all rights that it may have with respect to copyright and trademark ownership of all material contained in the Site.
Sovestor.com grants you a limited, nonexclusive license to display and otherwise use portions of the Site solely for your own private, non-commercial informational purposes only, and to print pages from the Site only in connection with that use. You may not modify, distribute, transmit, perform, reproduce, publish, license, create derivative works from, transfer or sell any text, graphics, logos and other source-identifying symbols, designs, icons, images, or other information, software or code obtained from the Site.

2. No Offer of Securities

Under no circumstances should any material at the Site be used or considered as an offer to sell or a solicitation of an offer to buy any interest in any investment fund sponsored or managed by Sovestor.com's affiliates. Any such offer or solicitation can and will be made only by means of the Confidential Information Memorandum of each such investment fund, only in jurisdictions in which such an offer would be lawful and only to individuals who meet the investor suitability and sophistication requirements of each such investment fund, including qualifying as accredited investors within the meaning of the Securities Act of 1933, as amended. Access to information about the investment funds is similarly limited to individuals who meet the applicable investor suitability and sophistication requirements.

3. Password-Protected Areas

Portions of the Site are password-protected and are accessible only to users who have been issued passwords by an authorized representative of Sovestor.com. Passwords are issued only to current investors in an investment fund sponsored or managed by Sovestor.com's affiliates, or to prospective investors who are eligible to receive a Confidential Information Memorandum for one or more of those investment funds. Password-protected portions of the Site may contain performance information for the investment funds sponsored or managed by Sovestor.com's affiliates. Users of the Site acknowledge that past performance is not necessarily indicative of future results.

4. Privacy Policy

In using portions of the Site, you may be asked to provide Sovestor.com with personal information about you. Personal information is any information that can be used to identify or contact a specific individual or company. Sovestor.com may use personally-identifiable information for its own internal purposes, or on behalf of its affiliates. Sovestor.com will not transfer, sell or disclose your personal information to any other third party without your prior consent, except as may be required by law (such as a subpoena, search warrant or other court order, or pursuant to the order of any regulatory body having jurisdiction over Sovestor.com or its affiliates) or to protect the integrity of the Site. In general, Sovestor.com's business practices limit access to personal information obtained through your use of the Site to those personnel who need to know such information to conduct Sovestor.com's or its affiliates' operations. Sovestor.com maintains physical, electronic and procedural safeguards designed to protect such information from unauthorized access or use. Sovestor.com will use personal information obtained through your use of the Site only in accordance with the privacy policy in effect at the time such information was provided.
Special Provisions for European Users:
By providing Sovestor.com with data: (i) you acknowledge and agree that due to the international operations of Sovestor.com and its affiliates, Sovestor.com may provide personal information, in accordance with this Privacy Policy, to Sovestor.com's affiliates that may be outside your resident jurisdiction, and that such data may be stored on servers located in other jurisdictions; and (ii) you consent to the transfer of such data outside of the European Union as described in this Privacy Policy. If you do not consent to the terms of this Privacy Policy, please do not use the Site, and, if you have provided personal identifying data, please contact Sovestor.com about how you would like Sovestor.com to handle such data.

5. No Reliance

While Sovestor.com uses reasonable efforts to update the information contained in the Site, Sovestor.com makes no representations or warranties as to the accuracy, reliability or completeness of any information at the Site. Any content of the Site is subject to change without notice.

6. Materials to be Consulted in its Entirety

All materials at the Site are meant to be reviewed in their entirety, including any footnotes, legal disclaimers, restrictions or disclosures, and any copyright or proprietary notices. Any disclaimers, restrictions or disclosures apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you consult or download.

7. Links to Third Party Web Sites

Sovestor.com has not reviewed any of the web sites that may be linked to the Site, and is not responsible for their content. Sovestor.com is not responsible for the privacy practices of such other web sites. Your linking to or use of any off-site pages or other web sites is at your own risk. Sovestor.com's inclusion of links to other web sites does not imply any endorsement of the material located on or linked to by such web sites.

8. No Warranty

Sovestor.com, ITS AFFILIATES, AND THEIR OFFICERS, DIRECTORS, PRINCIPALS, AGENTS AND EMPLOYEES MAKE NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE SUITABILITY OR OTHER CHARACTERISTICS OF THE INFORMATION AND MATERIALS CONTAINED ON OR PRESENTED THROUGH THE SITE. ALL SUCH INFORMATION AND MATERIALS ARE PROVIDED "AS IS", WITHOUT ANY WARRANTY OF ANY KIND. Sovestor.com HEREBY FURTHER DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH REGARD TO SUCH INFORMATION AND MATERIALS, INCLUDING ALL IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, NON-INFRINGEMENT AND AVAILABILITY.

9. Limitation of Liability

IN NO EVENT SHALL SOVESTOR.COM, ITS AFFILIATES, OR THEIR OFFICERS, DIRECTORS, PRINCIPALS, AGENTS AND EMPLOYEES BE LIABLE FOR ANY CLAIMS, LIABILITIES, LOSSES, COSTS OR DAMAGES, INCLUDING INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN ANY WAY CONNECTED WITH (I) THE USE OF OR INABILITY TO USE THE SITE OR WITH ANY DELAY IN USING THE SITE, OR (II) ANY INFORMATION AND MATERIALS OBTAINED THROUGH THE SITE, OR (III) OTHERWISE ARISING OUT OF THE USE OF THE SITE; IN ANY CASE WHETHER BASED ON THEORIES ARISING IN CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE. SUCH LIMITATIONS APPLY EVEN IF Sovestor.com, ITS AFFILIATES, OR ANY OF THEIR OFFICERS, DIRECTORS, PRINCIPALS, AGENTS OR EMPLOYEES HAVE BEEN ADVISED OF THE POSSIBILITY OF DAMAGES.

10. General

These Terms of Use are governed by the internal laws of the State of California, without reference to their conflicts of laws provisions. You consent to the jurisdiction of, and venue shall lie in, any federal or state court located in Los Angeles County, California, U.S.A., as the exclusive jurisdiction and venue for the adjudication of all disputes arising out of or relating to the use of the Site. You hereby appoint the Secretary of State of the State of Illinois as your agent for service of process in any such proceeding.
Any notice to Sovestor.com shall be given in email to: contactus@Sovestor.com
If any provision of these Terms of Use is held to be invalid or unenforceable in any jurisdiction, such provision shall be deemed modified to the minimum extent necessary so that such provision shall no longer be held to be invalid or unenforceable, and these Terms of Use shall be interpreted so as to achieve the intent expressed herein to the greatest extent possible in the jurisdiction in question. Any such modification, invalidity or unenforceability shall be strictly limited both to such provision and to such jurisdiction.

Revised on: Feb 25, 2009.