The Customer acknowledges, represents and agrees to the following terms and conditions:

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1 LIMITED POWER OF ATTORNEY The undersigned client ( Client ) hereby authorizes the undersigned trading advisor, its subtrading agents, or successors (the Advisor ) as the Client s agent and attorney-in-fact with full power and authority to manage the Client s trading account and associated risk through the purchase and sale (including short sales) foreign currencies, contracts for difference ( CFDs ) (including but not limited to CFDs on commodities), on margin or otherwise, foreign currency/cfd option contracts, binary options and/or any other investments offered from time to time by Direct FX Trading Pty Ltd. and its affiliates (collectively Direct FX ), in one or more accounts (collectively, the Account ) opened by Direct FX in the Client s name and on the Client s behalf. Accounts are maintained at Direct FX Trading Pty Ltd ("Direct FX"). Direct FX is a licensed broker dealer registered with the Australian Securities and Investments Commission. Direct FX holds Australian Financial Services # and ARBN # The Client hereby agrees to indemnify and hold Direct FX, their employees, agents, and successors harmless from and against any and all losses, damages, costs, expenses, indebtedness and liabilities arising therefrom. The Customer acknowledges, represents and agrees to the following terms and conditions: Management Authorization: In all such transactions, as well as management decisions relating to the Account, Client hereby authorizes the Advisor to act on behalf of the Client in the same manner and with the same force and effect as Client might or could act with respect to such transactions and all other things necessary or incidental to the furtherance and/or conduct of the Account, except that Advisor is not authorized to withdraw money, property, or assets maintained in Account, or being held as collateral for Account. The Client accepts full responsibility and liability for all such instructions (and for all transactions that may be entered into as a result) and will indemnify Direct FX and keep it indemnified against any loss, damage or expense incurred by it as a result of it acting on such instructions. The indemnity shall be effective whatever the circumstances giving rise to such loss, damage or expense, or whatever the knowledge, acts or omissions of Direct FX in relation to any other account held by any other person or body (including the Trading Agent named above) with Direct FX The Client further agrees that this indemnity shall extend to loss, damage or expense incurred by Direct FX in reversing incorrect or erroneous instructions submitted by the Trading Agent that result in a transaction that must, for the protection of Direct FX or its other clients or for reasons of market integrity, be reversed. Payment Authorization: Client hereby authorizes Direct FX to debit the trading Account the fees stated below at the direction of Advisor, and to pay such fees to Advisor upon invoice to Direct FX, or in absence of such invoice, at Direct FX s discretion. With regard to this payment authorization, Direct FX is hereby authorized to respond to any inquiries from the Advisor, and disclose any information Direct FX deems relevant in connection with the Account. Conflict of Interest: Client understands that the Advisor, if charging a performance fee and/or management fee, may be encouraged to take excessive risks to earn an outsized incentive fee 1

2 and/or management fee, and such risk-taking may place the interests of the Advisor in conflict with the interests of the Client. Additionally, the Client understands that the Advisor, if charging commissions, or receiving volume-based compensation directly from Direct FX in the form of a rebate, may be motivated to place numerous trades, without regard for risk or strategy, in order LIMITED to inflate POWER the commission OF ATTORNEY fees and/or rebates earned by Advisor. BUSINESS BANKING Risk Disclosure: Due to leverage, margin and other potential risk factors associated with trading in the off-exchange retail foreign currency market ( FOREX ), Client may rapidly lose all the funds deposited for trading. Client should not invest or risk capital in FOREX if he/she/it cannot afford to lose the entire amount. No safe FOREX trading system exists, and the neither the Advisor nor any other person can guarantee profits or freedom from loss, nor guarantee to limit the extent of losses. The Advisor may use an electronic trading system to generate trades, which can expose Client to risk associated with the use of computers, and data feed systems relied upon by Direct FX. Client agrees to accept and bear such risks, which may include, but are not limited to, failure of hardware, software or communication lines or systems and/or inaccurate external data feeds provided by third-party vendors. The Client acknowledges and accepts the inherent risk that online or electronic communications may not reach their intended destination or may do not much later than intended for reasons outside Direct FX s control. The Client accepts that it bears the risk of the Trading Agent s instructions being lost for any reason whatsoever (including, without limitation, malfunctions in any electronic or online trading systems). Non-Solicitation, Due Diligence, and Ongoing Supervision: The Client accepts that Direct FX is not obliged to investigate or otherwise make any enquiry of the background or investment history of the Advisor. The Client understands that Direct FX and its officers, employees and agents have no responsibility whatsoever for any acts or omissions of the Advisor in connection with the Client s Account and are not responsible for any loss to the Client caused by any acts or omissions of the Advisor and that Direct FX does not, by implication or otherwise, endorse the operating or trading methods of the Trading Agent. Client hereby represents and warrants that Direct FX has not solicited the use of Advisor or any other agent to trade on behalf of Client or otherwise manage the Account. Direct FX does not endorse or vouch for the services provided by the Advisor. As the Advisor is not a staff member, officer, independent contractor or agent of Direct FX, Client is responsible for performing any necessary due diligence concerning the Advisor prior to using any offered services. Additionally, Client understands that copies of all statements, notices and correspondence relating to Client s account shall be provided to Advisor, and that trading agent shall have the authority to acquiesce in the correctness of statements on Client s behalf. Even though the Client has granted trading authority to another, Client should be diligent to closely scrutinize all activity in the account. If Client has any questions, Client should contact Direct FX immediately by ing support@directfx.com. Client, by signing below, attests that Advisor has not promised, guaranteed, or implied any particular level of return in its advisory capacity, as promising or guaranteeing a return is not 2

3 allowed in an advisory capacity. Client understands that past performance of the Advisor does not represent future performance. LIMITED The Client POWER and OF Advisor ATTORNEY each, jointly and severally, acknowledge, represent and agree to the following BUSINESS terms BANKING and conditions: Management Fees: Client may agree, by initialing below, to pay a management fee, at the rate stated below, to Advisor. Management fees are stated as an annual percentage and are calculated based on the average funds on deposit in Client s trading account. Management Fees are calculated and charged to the Client at the end of every calendar month on the basis of the stated annual rate divided by 12. Management fees shall be paid on a monthly basis to Advisor upon Direct FX receiving an invoice for such fees, or in absence of such invoice, at Direct FX s discretion. Commissions: Client may agree, by initialing below, to pay a commission fee at the rate stated below. Commissions are stated below on the basis of a round turn calculation; however, Direct FX s trading system calculates and charges commissions on a per-side basis. As such, Client agrees to be charged ½ the commission amount stated below on every executed trade. Performance Fees: Client may agree, by initialing below, to pay a performance fee, at the rate stated below, to Advisor. Performance Fees should be calculated and charged to Client based upon the trading account s outperformance against the trading account s starting equity. The subsequent performance fee for an actively managed trading account is based on the outperformance of the equity rate high-water mark. The high watermark requires the trading account to recoup previous high earnings prior to chagrining additional fees. The high water mark is increased or re-based to the level at which the last performance fee was earned. Performance fees shall be paid on a monthly basis to Advisor upon Direct FX receiving an invoice for such fees. Registration: Advisor affirms and represents they he/she/it has met, if applicable, all required government and regulatory approvals, licenses, and permits, to engage in the advisory services to be provided to the Client. Term and Termination: The authorization given in this Limited Power of Attorney is a continuing one and shall remain in full force and effect until amended or revoked by the Client in writing. Unless notified otherwise in writing by Direct FX any such variation or revocation shall not be effective until two (2) working days after it is received by Direct FX. The Client acknowledges that it will remain liable for all instructions given to Direct FX prior to the revocation/variation being effective, and that it will be responsible for any losses which may arise on any transactions which are open at such time. The Client will indemnify and keep Direct FX indemnified in respect of all such losses. The provisions hereof shall be in addition to and in no way shall it limit or restrict any right that Direct FX may have under any agreement with the Client. Direct FX reserves the right to terminate this authorization at any time, for any or no reason, in its sole discretion. Client Ratification: Client hereby ratifies and confirms any and all transactions with Direct FX heretofore and hereafter made by the Advisor on behalf of or for the account of the Client. The Client should be diligent and closely scrutinize all trading activity in connection with the Client s Account. 3

4 Client also hereby ratifies and confirms he/she/it agrees to pay compensation/commissions according to the expressed terms, which Advisor hereby acknowledges: LIMITED Account POWER Statements: OF ATTORNEY Advisor and Client may access all applicable account statements through the BUSINESS applicable BANKING online portal. Acknowledgment of Risk: Client understands and certifies that they have the financial resources to participate in the FOREX market and bear the financial risks associated with the market, as well as the special risks involved in giving full authority to another person (Advisor) to engage in FOREX transactions using your account and risking your capital. The Client acknowledges having read carefully and understood fully the foregoing Limited Power-of- Attorney Trading Authorization. Governing Law: This Limited Power of Attorney shall be governed by and construed in accordance with the laws of state of New South Wales and the courts of the state New South Wales shall have non-exclusive jurisdiction to determine any disputes, which may arise out of, under, or in connection with this Agreement.. Each of the undersigned hereby agrees to the terms and conditions as set forth in this Limited Power-of-Attorney Trading Authorization: The Client ratifies and confirms that he/she has agreed to compensate the Trading Agent for his/her services and authorizes Direct FX to debit the Client s Account and credit these fees to the Trading Agent, according to the following terms: Management Fees % (Annual Rate) Performance Fees % (High Water-Mark) PAYMENTS AUTHORIZED Commission $ (Per Lot, Round-Turn) Periodic Fee $ per Client initials (Fee) per (ex: month) NO PAYMENT ACCESS ONLY TRADING ACCOUNT Direct FX Account Number (required for existing accounts) # (Insert NEW if application approval pending) ADVISOR If Advisor is Individual: Advisor s Name (Print): Advisor s Signature: If Advisor is Entity: Advising Entity Name: 4

5 Representative Authorized to Exercise Discretion: Name (Print): Title: Signature: ** IF MORE THAN ONE REPRESENTATIVE OF ENTITY NEEDS TO BE ABLE TO EXERCISE LIMITED POWER OF ATTORNEY DISCRETION, THIS PAGE MUST BE DUPLICATED, SIGNED, AND ATTACHED. BUSINESS BANKING CLIENT If Client is Individual: If Client is Entity: Client Name (Print): Signature: Date: Client Entity Name: Partners, Members, Officers, or Trustees: Name (Print): Title: Signature: Date: Name (Print): Title: Signature: Date: * IF MORE THAN ONE PARTNER, MEMBER, OFFICER, OR TRUSTEE IS NECESSARY, THIS PAGE MUST BE DUPLICATED, SIGNED, AND ATTACHED WITH ALL APPOPRIATE SIGNATURES. ** IF A PARTNERSHIP ACCOUNT, EACH GENERAL PARTNER MUST SIGN; IF A CORPORATE ACCOUNT, AN AUTHORIZED OFFICER MUST SIGN; IF AN LLC ACCOUNT, EACH MANAGING MEMBER MUST SIGN; IF A TRUST ACCOUNT, EACH TRUSTEE MUST SIGN. 5