DISCLAIMERRegulatory DisclosuresI. Required Disclosures A. Analyst Compensation The analysts responsible for research reports of Greener Dawn Investment Group, Inc. ("Greener Dawn") will be paid in part based on the profitability of Greener Dawn, which will include investment banking revenues, some of which revenues may come from subject companies and/or transactions in securities referenced in such reports. B. Ownership and Conflicts of Interest Greener Dawn policy prohibits its research analysts, professionals reporting to analysts and members of their households from owning securities of any company in the analyst's area of coverage. C. Analyst as Director or Officer Greener Dawn policy prohibits its analysts, persons reporting to analysts or members of their households from serving as an officer, director, advisory board member or employee of any company in the analyst's area of coverage. D. Greener Dawn Company Specific Disclosures See below for any of the following disclosures by Greener Dawn required as to companies referred to in its research reports: manager or co-manager in a pending transaction, 1% or other ownership; compensation for certain services; types of client relationships, manger/co-managed public offerings in prior periods; directorships or market making roles. Current report: Neither Greener Dawn nor any of its affiliates has any of the foregoing relationships with companies referenced in its research reports. II. Other Disclosures Greener Dawn's research reports should be not construed as a recommendation to purchase or sell any security or as an offer to sell or the solicitation of an offer to buy any security. We are not solicitating any action with respect to any security based on our research reports. Our research reports are for the general information of clients of Greener Dawn. Our research reports do not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of any individual clients. Before acting on any advice in our research reports, clients should consider whether it is suitable for their particular circumstances and, if necessary, seek professional advice. The price and value of the investments referred to in our research reports and the income from them may go down as well as up, and investors may realize losses on any investments. Past performance is not a guide to future performance. Future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rate could have adverse effects on the value or price of, or income derived from, certain investments. Greener Dawn does not provide tax advice to its clients, and all investors are strongly advised to consult with their tax advisers regarding any potential investment. Certain transactions - including those involving futures, options, and other derivatives as well as non-investment-grade securities - give rise to substantial risk and are not suitable for all investors. Our research reports are based on current information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied on as such. Opinions expressed are our current opinions as of the date appearing on our research reports only. We endeavor to update on a reasonable basis the information discussed in our research reports, but regulatory, compliance, or other reasons may prevent us from doing so. We and our affiliates, officers, directors, and employees, excluding persons involved in the preparation or issuance of our research reports, may from time to time (a) have long or short position in, act as principal in, and buy or sell the securities or derivatives (including options) of companies mentioned in such material or (b) act as a manager or co-manager of securities offerings of, provide financial advice to, or provide other services for compensation to such companies. No part of our research reports may be (i) copied, photocopied, or duplicated in any form by any means or (ii) redistributed without Greener Dawn Investment Group Inc.'s prior written consent. Copyright 2009 Greener Dawn Investment Group, Inc. All rights reserved. Privacy and SecurityYour Privacy Is Important to Greener Dawn In the course of serving you as an individual client or as someone associated with a corporate or institutional client, Greener Dawn may obtain personal information about you. Obtaining this information is important to our ability to deliver the highest level of service to you, but we also recognize that you expect us to treat this information appropriately. This policy describes the types of personal information we may collect about you, the purposes for which we use the information, the circumstances in which we may share the information and the steps that we take to safeguard the information to protect your privacy. As used throughout this policy, the term "Greener Dawn" refers to The Greener Dawn Investment Group, Inc. and its affiliates. The Sources of Information The personal information we collect about you comes primarily from the subscription applications or other forms and materials you submit to Greener Dawn during the course of your relationship with us. We may also collect information about your transactions and experiences with Greener Dawn relating to the products and services Greener Dawn provides. In addition, depending on the products or services you require, Greener Dawn may obtain additional information about you, such as your credit history, from consumer reporting agencies. Finally, in the provision of financial services to you and subject to strict compliance with all applicable laws and regulations, information may be collected about you indirectly from monitoring or other means (e.g. recording of telephone calls and monitoring e-mails). In these circumstances, the information is not accessed on a continuous or routine basis, but it may be used for compliance or security purposes. The Information We Have about You If you deal with Greener Dawn in your individual capacity (e.g. as a private client), or as a settlor/trustee/beneficiary of a trust, or as an owner or principal of a company, the typical information we collect about you would include:
If you are an employee/officer/director/principal, etc. of one of our corporate or institutional clients, the typical information we collect about you personally would include:
Of course, you are not required to supply any of the personal information that we may request. However, failure to do so may result in our being unable to open or maintain your account or to provide services to you. While we make every effort to ensure that all information we hold about you is accurate, complete and up to date, you can help us considerably in this regard by promptly notifying us if there are any changes to your personal information. Our Use of Your Personal Information We may use your personal information to:
If your relationship with Greener Dawn ends, Greener Dawn will continue to treat your personal information, to the extent we retain it, as described in this policy. Disclosures of Your Personal Information within Greener Dawn In order to provide efficient and reliable services and to improve product and service options available to you, more than one entity within Greener Dawn may be given, or given access to, your personal information. For example, one Greener Dawn entity might share your information with another in order to evaluate investment banking needs in transactions or the maintenance of your accounts, or as part of its arranging for the performance of specialized services such as asset management and advisory services. When so sharing your personal information, we adhere to applicable legal and industry standards regarding the protection of personal information. Additional information on how your personal information is protected while within Greener Dawn is provided below, under Information Security: How We Protect Your Privacy. Disclosures of Your Personal Information to Third Parties Greener Dawn does not disclose your personal information to third parties, except as described in this policy. Third party disclosures may include sharing such information with non-affiliated companies that perform support services for your account or facilitate your transactions with Greener Dawn, including those that provide professional, legal or accounting advice to Greener Dawn. Non-affiliated companies that assist Greener Dawn in providing services to you are required to maintain the confidentiality of such information to the extent they receive it and to use your personal information only in the course of providing such services and only for the purposes that Greener Dawn dictates. We may also disclose your personal information to fulfill your instructions, to protect our rights and interests and those of our business partners or pursuant to your express consent. Finally, under limited circumstances, your personal information may be disclosed to third parties as permitted by, or to comply with, applicable laws and regulations; for instance, when responding to a subpoena or similar legal process, to protect against fraud and to otherwise cooperate with law enforcement or regulatory authorities or with organizations such as exchanges and clearinghouses. You should know that Greener Dawn will not sell your personal information. Information Security: How We Protect Your Privacy Greener Dawn is committed to protecting the privacy and confidentiality of your personal information. We limit access to your personal information to authorized Greener Dawn employees or agents and, as described above in Disclosures of Your Personal Information to Third Parties, our service providers are held to stringent standards of privacy. We also maintain physical, electronic and procedural safeguards to protect the information against loss, misuse, damage or modification and unauthorized access or disclosure. Some of the other central features of our information security program are:
Privacy and the Internet The following additional information will be of interest to you if you access products or services through our Greener Dawn Web site: Users of our Web site are required to identify and authenticate themselves prior to accessing our services. Generally, identification and authentication take place through the use of your user name and a password. Our Web site is built upon a secure infrastructure with multiple layers of protection, including measures ranging from proper physical security of our machines to system intrusion detection capabilities. Within such site, Greener Dawn uses industry standard encryption technologies to protect your information from external compromise. Security is a cooperative effort between Greener Dawn and the users of the Web site. Please remember that your password is personal to you and should not be made available to any other person. Also, you should discontinue their use and notify us if you have any reason to suspect that someone else may be using them. "Cookies" are small text files consisting of information stored by your Web browser. This information is used for administrative purposes and to improve your experience with our Web sites. For example, this information helps authenticate you (i.e. verify that you are who you say you are), an essential component of site security. Cookies also make it easier for you to navigate the Web site by, among other things, "remembering" your identity so that you do not have to input your password multiple times as you move between pages or services. You can set your Web browser to inform you when cookies are set, or to prevent cookies from being set. However, if you decline to use cookies, you may experience reduced functionality, and declining to use authentication related cookies will prevent you from using the Web site altogether. "Clickstream" or similar data (e.g. information regarding which of our Web pages you access, the frequency of such access and your product and service preferences) may be collected and shared internally within Greener Dawn in order to assess the usage, value and performance of our online products and services and, if you are a Greener Dawn client, to suggest products or service offerings that may be of interest to you. Other Privacy Policies or Statements; Changes to Policy This policy provides a general statement of the ways in which Greener Dawn protects your personal information. You may, however, in connection with specific products or services offered by Greener Dawn, be provided with privacy policies or statements that supplement this policy. This policy may be changed from time to time to reflect changes in our practices concerning the collection and use of personal information. The revised policy will be effective immediately upon posting to our Web site. This version of the Policy is effective July 15, 2009. Terms and Conditions of UseAccess to the Greener Dawn Investment Group, Inc. Web site below is provided by GD. For purposes of this agreement, "GD" shall mean Greener Dawn Investment Group, Inc. and its affiliates, and their officers, directors, managing directors, partners, and employees. The "Greener Dawn Web site" shall mean the Web site of Greener Dawn Investment Group, Inc. available to the general public. Monitoring by GD: Your use of the products and services on this Web site may be monitored by GD, and the resultant information may be used by GD for its internal business purposes or in accordance with the rules of any applicable regulatory or self-regulatory organization. Information Made Available Through this Service: You are permitted to store, display, analyze, modify, reformat, and print the information made available to you via these services only for your own use. You are not permitted to publish, transmit, or otherwise reproduce this information, in whole or in part, in any format to any third party without the express written consent of GD. In addition, you are not permitted to alter, obscure, or remove any copyright, trademark or any other notices that are provided to you in connection with the information. GD reserves the right, at any time and from time to time, in the interests of its own discretion to add, modify, or remove any of the information. These Terms and Conditions of Use are not intended to, and will not, transfer or grant any rights in or to the information other than those which are specifically described herein, and all rights not expressly granted herein are reserved by GD or the third party providers from whom GD has obtained the information. You are required to read and abide by any additional terms and conditions that may be posted on this service from time to time concerning information obtained from specific third party providers. Such third party providers shall have no liability to you for monetary damages on account of the information provided to you via this service. No warranties made as to content; no responsibilities to update: GD makes no warranty, express or implied, concerning this service. The services provided by us and our third party providers are on an "AS IS" basis at your sole risk. GD expressly disclaims any implied warranty of merchantability or fitness for a particular purpose, including any warranty for the use or the results of the use of the services with respect to their correctness, quality, accuracy, completeness, reliability, performance, timeliness, or continued availability. Neither GD nor any of its third party providers shall have any responsibility to maintain the data and services made available on this Web site or to supply any corrections, updates, or releases in connection therewith. Availability of data and services are subject to change without notice. No liability for content; no liability arising from use: GD shall have no liability, contingent or otherwise, to you or to third parties, or any responsibility whatsoever, for the failure of any connection or communication service to provide or maintain your access to this service, or for any interruption or disruption of such access or any erroneous communication between GD and you, regardless of whether the connection or communication service is provided by GD or a third party service provider. GD shall have no liability, contingent or otherwise, to you or to third parties, for the correctness, quality, accuracy, timeliness, reliability, performance, continued availability, completeness or delays, omissions, or interruptions in the delivery of the data and services available on this Web site or for any other aspect of the performance of this service or for any failure or delay in the execution of any transactions through this service. In no event will GD be liable for any special, indirect, incidental, or consequential damages which may be incurred or experienced on account of you using the data or services made available on this Web site, even if GD has been advised of the possibility of such damages. GD will have no responsibility to inform you of any difficulties experienced by GD or third parties with respect to the use of the services or to take any action in connection therewith. No warranties made as to security: GD makes no warranty whatsoever to you, express or implied, regarding the security of the site, including with respect to the ability of unauthorized persons to intercept or access information transmitted by you through this service. System Outages, Slowdowns, and Capacity Limitations: As a result of high Internet traffic, transmission problems, systems capacity limitations, and other problems, you may, at times, experience difficulty accessing the Web site or communicating with GD through the Internet or other electronic and wireless services. Any computer system or other electronic device, whether, it is yours, an Internet service provider's or GD's can experience unanticipated outages or slowdowns, or have capacity limitations. Content not to be construed as a solicitation or recommendation: This material has been prepared for informational purposes only without regard to any particular user's investment objectives, financial situation, or means, and GD is not soliciting any action based upon it. This material is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy. Certain transactions, including those involving futures, options, and high-yield securities, give rise to substantial risk and are not suitable for all investors. Although this material is based upon information that GD considers reliable and endeavors to keep current, GD has not verified this information and does not represent that this material is accurate, current, or complete and it should not be relied upon as such. No determination of suitability has been made; not all risks are disclosed; private advisors should be consulted: The fact that GD has made the data and services provided on this Web site available to you constitutes neither a recommendation that you enter into a particular transaction nor a representation that any product described on this Web site is suitable or appropriate for you. Many of the products described on this Web site involve significant risks, and you should not enter into any transactions unless you have fully understood all such risks and has independently determined that such transactions are appropriate for you. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or complete discussion of the risks which are mentioned. You should neither construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax, or accounting advice nor make this service the primary basis for any investment decisions made by or on behalf of you, your accountants, or your managed or fiduciary accounts, and you may want to consult your business advisor, attorney, and tax and accounting advisors concerning any contemplated transactions. No representations made as to other sites or links: This service may provide links to certain Internet sites (the "Sites") sponsored and maintained by third parties. GD is providing such links solely as a convenience to you. Accordingly, GD makes no representations concerning the content of the Sites. The fact that GD has provided a link to the Site does not constitute an endorsement, authorization, sponsorship, or affiliation by GD with respect to the Site, its owners, or its providers. GD has not tested any information, software, or products found on any of the Sites and therefore does not make any representations with respect thereto, including any representations regarding the content or sponsors of the Site, or the suitability or appropriateness of the products or transactions described therein. 4666669v.1 |
Membership Organizations
