Fill - Free fillable /BOSTON/xinet/ Bos Work/ Jobs/30242/PIECE20/30242 20 APP Margin Fill.pdf (Fidelity Investments) PDF form

1.531841.121 004050701

Page 1 of 5

Questions? Go to Fidelity.com/margin or call 800-343-3548.

Margin — Nonretirement — Brokerage

Use this application to apply to add margin to an existing account. Type on screen or print out and fill in using CAPITAL letters and

black ink. If you need more room for information or signatures, make a copy of the relevant page.

Important to Understand Helpful to Know

By signing this application, you acknowledge that:

•

Trading on margin lets you borrow money using securities you

already own as collateral to purchase additional securities, sell

securities short, protect your account from overdraft, or access a

convenient line of credit.

•

Margin can involve significant costs and risks and is not

appropriate for all investors. Account owners must determine

whether margin is consistent with their investment objectives,

income, assets, experience, and risk tolerance. No investment or

use of margin is guaranteed to achieve any particular objective.

• Fidelity Brokerage Services LLC (“FBS”) will perform brokerage

and administrative services.

• National Financial Services LLC (“NFS”) will provide

administrative, clearing, custody, and margin credit services.

• FBS, NFS, and their affiliates are together referred to herein

as “Fidelity.”

•

Important documents related to your account include the Fidelity

Account Customer Agreement (“Customer Agreement”) and

other relevant information delivered from time to time.

• In this application, “You,” “you,” and “your” refers to all

account holders, including individual, joint, trustees, and/or

custodians. Each of the account holders agrees that any

account holder has authority to act on behalf of this account.

Regarding this account:

• The following account types are not eligible for margin:

– 529 College Savings Plans

– ABLE Accounts

– Cash Management Accounts (CMA)

– Custodial accounts (UGMA/UTMA)

– Estate accounts

– Fidelity managed accounts

– Fiduciary accounts (guardian and conservator)

– Investment Club accounts

– Mutual Fund Only accounts

– Pledge accounts

• IRAs may have supplemental limited margin and/or options

spread trading added. If interested, visit Fidelity.com to

apply for limited margin or to download and sign the

Options Spread Agreement for IRAs.

• For accounts with identical registrations, only one of the

accounts with the same registration is eligible for margin.

• Margin will not be granted if Fidelity determines that you reside

outside of the United States.

1. Account Owner

Account Number

First Name Middle Name Last Name

Trust or Entity Name

Daytime Phone Extension

Residential Address (where you live) This is your legal address used for tax reporting.

Street Address

City State ZIP Code

Mailing Address This may be a PO box, drop box, or c/o location.

Same as residential address

Default if no other information indicated below.

Mailing Address

City State ZIP Code

Complete a separate

application for each

account to which you

want to add margin.

Account Owner continues on next page.

Reset

Save

Income Source Industry regulations require us to ask for this information.

Employed Self-employed

Occupation Employer Leave blank if self-employed.

Employer Address

City State/Province ZIP/Postal Code Country

Retired Not employed

Source of Income Pension, investments, spouse, etc.

Associations

If you are employed by or associated with a broker-dealer, stock exchange, exchange member firm, the Financial

Industry Regulatory Authority (FINRA), a municipal securities dealer, or other financial institution, or are the spouse or

an immediate family member residing in the same household of someone who meets the aforementioned employ-

ment criteria, provide the company’s name and address below. By providing this information and completing this form,

you hereby authorize Fidelity to provide the associated person’s employer with duplicate copies of confirmations and

statements, or the transactions data contained therein, for your account(s) and any accounts you choose to have on a

consolidated statement for purposes of their compliance review.

Company Name

Company Address

City State/Province ZIP/Postal Code Country

Afﬁliations

If you, your spouse, or any of your relatives (including parents, in-laws, and/or dependents, etc.), living in your home (at

the same address), is a member of the board of directors, a 10% shareholder, or a policy-making officer of a publicly

traded company (an “Affiliate”), you must provide the information below. If there are more than two Affiliates, make a

copy of this section.

Affiliate’s Company Name Trading Symbol or CUSIP

2. Additional Account Owner

First Name Middle Name Last Name

Trust or Entity Name

Daytime Phone Extension

Residential Address (where you live) This is your legal address used for tax reporting.

Street Address

City State ZIP Code

Check one and

provide information.

As a person associated

with a member firm, you

are obligated to receive

consent from that firm.

Fidelity has existing

consent agreements

with many firms for

their employees to

maintain accounts with

Fidelity and to deliver

transactional data. If

your firm is not one

of them, Fidelity will

attempt to contact your

firm’s compliance office.

Page 2 of 5

1.531841.121 004050702

Additional Account Owner continues on next page.

1. Account Owner, continued

Page 3 of 5

Mailing Address This may be a PO box, drop box, or c/o location.

Same as residential address

Default if no other information indicated below.

Mailing Address

City State ZIP Code

Income Source Industry regulations require us to ask for this information.

Employed Self-employed

Occupation Employer Leave blank if self-employed.

Employer Address

City State/Province ZIP/Postal Code Country

Retired Not employed

Source of Income Pension, investments, spouse, etc.

Associations

If you are employed by or associated with a broker-dealer, stock exchange, exchange member firm, the Financial

Industry Regulatory Authority (FINRA), a municipal securities dealer, or other financial institution, or are the spouse or

an immediate family member residing in the same household of someone who meets the aforementioned employ-

ment criteria, provide the company’s name and address below. By providing this information and completing this form,

you hereby authorize Fidelity to provide the associated person’s employer with duplicate copies of confirmations and

statements, or the transactions data contained therein, for your account(s) and any accounts you choose to have on a

consolidated statement for purposes of their compliance review.

Company Name

Company Address

City State/Province ZIP/Postal Code Country

Afﬁliations

If you, your spouse, or any of your relatives (including parents, in-laws, and/or dependents, etc.), living in your home (at

the same address), is a member of the board of directors, a 10% shareholder, or a policy-making officer of a publicly

traded company (an “Affiliate”), you must provide the information below. If there are more than two Affiliates, make a

copy of this section.

Affiliate’s Company Name Trading Symbol or CUSIP

Check one and

provide information.

As a person associated

with a member firm, you

are obligated to receive

consent from that firm.

Fidelity has existing

consent agreements

with many firms for

their employees to

maintain accounts with

Fidelity and to deliver

transactional data. If

your firm is not one

of them, Fidelity will

attempt to contact your

firm’s compliance office.

1.531841.121 004050703

Form continues on next page.

2. Additional Account Owner, continued

Page 4 of 5

1.531841.121 004050704

3. Financial Profile Required for margin.

Financial Proﬁle

Annual Income

From all sources

$0–$20,000

$20,001–$50,000

$50,001–$100,000

$100,001 or more

Estimated Net Worth

Excluding your home

$0–$30,000

$30,001–$50,000

$50,001–$100,000

$100,001–$500,000

$500,001 or more

Estimated Liquid Net Worth

Cash and assets easily converted to cash

$0–$15,000

$15,001–$50,000

$50,001–$100,000

$100,001–$500,000

$500,001 or more

4. Account Owner Signatures and Dates ALL account owners must sign and date.

Please be sure to read all the language included on the following pages, as well as sign, date, and return all pages of

this form (1–5) to Fidelity.

By signing below, you:

• Authorize Fidelity to extend margin credit

on the account identified in Section 1 to

the name(s) listed on this application.

• Represent and warrant that if you have not

completed the section titled Associations,

you are not employed by nor associated

with a broker-dealer, stock exchange,

exchange member firm, FINRA, a munici-

pal securities dealer, or any other financial

institution, nor are you the spouse or imme-

diate family member residing in the same

household of such a person.

• Represent and warrant that if you have not

completed the section titled Affiliations,

none of you, your spouse, nor any of your

relatives living in your home are a control

person or affiliate of a public company

under SEC Rule 144.

• Affirm that you have received, read,

understood, and agree to be bound by

the terms and conditions of the Customer

Agreement, this Application, and the

Schedule of Fees (which is incorporated

into the Agreement by reference and

legally forms a part of that document), as is

currently in effect and as may be amended

in the future. It shall inure to the benefit of

Fidelity’s successors and assigns, whether

by merger, consolidation, or otherwise.

Fidelity may transfer your account to its

successors and assigns, and this Agreement

shall be binding upon your heirs, executors,

administrators, successors, and assigns.

• Certify that all information provided in this

form is true, accurate, and complete.

• Hereby authorize Fidelity to hypothecate

(lend) or rehypothecate, either separately

or with the property of others, either to

Fidelity or to others, any property Fidelity

may be carrying for you on margin. This

authorization applies to all of your margin

accounts Fidelity carries and shall remain

in force until Fidelity receives written notice

of revocation.

• Acknowledge that if you are adding margin

to an Investment-Only Retirement Account,

you have read and understand the following

points:

– As trustee, it is your responsibility to

ensure that all account transaction and

investment instructions provided are in

accordance with the underlying plan

and trust.

– In addition to risks generally applicable

to margin borrowing, a tax-advantaged

retirement account poses additional risks,

including the following: 1) using account

assets to satisfy margin calls reduces

tax-advantaged savings, 2) annual

contribution limits might restrict a plan

trustee’s ability to satisfy margin calls,

and 3) debt-financed investment income

within a tax-advantaged account can

generate unrelated business taxable

income (UBTI). You are strongly

encouraged to consult your tax or

benefits advisor prior to using margin

borrowing on this account.

Check one in

each column.

Industry regulations

require us to ask for

this information.

For entity accounts

such as business and

trust registrations,

please provide the

suitability information

for the entity. For

entity registrations,

only net worth and

liquid net worth

are required.

Account Owner Signatures and Dates continues on next page.

Page 5 of 5

1.531841.121 004050705

To help the government fight financial crimes, federal regulation requires Fidelity to obtain and verify your name, date of birth, address,

and a government-issued ID number before opening your account, and to verify the information. In certain circumstances, Fidelity may

obtain and verify comparable information for any person authorized to make transactions in an account. Also, federal regulation requires

Fidelity to obtain and verify the beneficial owners and control persons of legal entity customers. Requiring the disclosure of key individ-

uals who own or control a legal entity helps law enforcement investigate and prosecute crimes. Your account may be restricted or closed

if Fidelity cannot obtain and verify this information. Fidelity will not be responsible for any losses or damages (including, but not limited

to, lost opportunities) that may result if your account is restricted or closed.

You acknowledge that this account is governed by a predispute arbitration clause, which appears on the last page of the

Customer Agreement, and that you have read the predispute arbitration clause.

PRINT OWNER NAME

OWNER SIGNATURE

SIGN

TODAY’S DATE MM/DD/YYYY

DATE

PRINT OWNER NAME

OWNER SIGNATURE

SIGN

TODAY’S DATE MM/DD/YYYY

DATE

On this form, “Fidelity” means Fidelity Brokerage Services LLC and its affiliates. Brokerage services are

provided by Fidelity Brokerage Services LLC, Member NYSE, SIPC. All trademarks and service marks used

herein are the property of their respective owners. 427177.11.0 (03/20)

Did you sign the form and attach any necessary documents?

Please return all pages of this application and any necessary attachments.

You will receive a “Revised Account Profile” confirming that your account

has been changed.

Questions? Go to Fidelity.com/margin or call 800-343-3548.

Regular mail

Fidelity Investments

PO Box 770001

Cincinnati, OH 45277-0002

Overnight mail

Fidelity Investments

100 Crosby Parkway KC1K

Covington, KY 41015-4325

4. Account Owner Signatures and Dates, continued

Fidelity Brokerage Services

CUSTOMER RELATIONSHIP SUMMARY

This important information about Fidelity Brokerage Services LLC (“FBS”) is provided to comply with

the federal securities laws. It does not create or modify any agreement, relationship or obligation

between you and FBS (or your ﬁnancial professional). Please consult your Fidelity account agreement

for the terms and conditions that govern your relationship with us. Effective as of June 30, 2020.

FBS is a registered broker-dealer with the U.S. Securities and Exchange Commission. Brokerage and

investment advisory services and fees differ, and it is important for you to understand these differences.

Free and simple tools are available to research ﬁrms and ﬁnancial professionals at Investor.gov/CRS,

which also provides educational materials about broker-dealers, investment advisers, and investing.

What investment services and advice can you provide me?

FBS offers brokerage accounts and services for personal or workplace investing, including retail,

retirement (including Individual Retirement Accounts (IRAs)) and cash management services (bill pay,

check-writing, etc.). These accounts generally allow you to invest in mutual funds, exchange traded funds

(ETFs), stocks, bonds, college savings plans and insurance products, among others. We do not limit

our offerings to Fidelity funds, speciﬁc asset classes, or products that involve third-party compensation

arrangements. There is no minimum investment to open an account; there are minimums to purchase

some types of investments. FBS works with its afﬁliated clearing broker, National Financial Services LLC,

along with other afﬁliates to provide you with these investment services. For additional information, see

Fidelity.com/information.

With an FBS brokerage account, unless we agree otherwise in writing, you are solely responsible for

deciding how you want to invest, monitoring your account and placing trades. FBS, either by itself or

through an afﬁliate, can provide you with tools and information to help you make decisions and can

provide you with investment recommendations for certain investments upon request. Discretionary

and non-discretionary investment advisory services are provided through our afﬁliated investment

advisers, including Fidelity Personal and Workplace Advisors (FPWA), typically for a fee, and documents

describing these advisory services can be found at

Fidelity.com/information

FBS brokerage accounts are also available to you when you work with a third-party adviser such as a

registered investment adviser, retirement plan administrator, bank or family ofﬁce (“intermediaries”).

If you open your FBS brokerage account through an intermediary, you or your intermediary will

make all decisions regarding the purchase or sale of investments; FBS generally will not provide

recommendations or monitor your investment decisions, or your intermediary, for you. Some

intermediaries limit the investment services and products that they offer to you from the universe of

investments that FBS offers. Please contact us or your intermediary for more information on the services

provided, conﬂicts of interest, and any fees you will pay.

Questions you may have:

• Given my ﬁnancial situation, should I choose a brokerage service? Why or why not?

•

How will you choose investments to recommend to me? What is your relevant experience,

including your licenses, education and other qualiﬁcations?

•

What do these qualiﬁcations mean?

What fees will I pay?

The fees that you will pay depend on whether you work directly with FBS or through an intermediary.

If you establish a retail relationship directly with FBS, there are no commissions charged on online

transactions in U.S. stocks, ETFs, options, new issue bonds and CDs. Online transactions in other

securities are charged a commission. Sell orders for equities are charged an activity assessment fee

and options have a per-contract fee. Transactions placed over the telephone or in a branch ofﬁce are

charged a commission. If you open an investment advisory account with one of our afﬁliates, your fees

will be identiﬁed in the contract and disclosure document provided by that afﬁliate. If you work with

FBS through an intermediary, please contact your intermediary for details on the fees that you will

pay for your brokerage activities. If you have established an institutional relationship with FBS, online

commissions can apply. Please speak with your FBS representative.

There is no transaction fee or sales load for the purchase or sale of Fidelity’s retail mutual funds. Other

mutual funds either have a transaction fee or no transaction fee, and some of these funds will have sales

loads. These fees can vary depending on how long you hold the fund. Holding funds for less than 60

days can result in additional trading fees. Mutual funds, ETFs and similar investment products typically

charge their own separate management fees and other expenses.

You will pay fees and costs whether you make or lose money on your investments. Fees and costs

will reduce any amount of money you make on your investments over time. Please make sure you

understand what fees and costs you are paying. When commissions apply, FBS has an incentive for you

to trade more often and in larger amounts. Brokerage fees and costs information for different account

types, products and services are available at

Fidelity.com/information

Question you may have: Help me understand how these fees and costs might affect my

investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much

will be invested for me?

What are your legal obligations to me when providing recommendations? How else does your ﬁrm

make money and what conﬂicts of interest do you have?

When FBS provides you with a recommendation, we have to act in your best interest and not put

our interest ahead of yours. At the same time, the way we make money creates some conﬂicts with

your interests. You should understand and ask us about these conﬂicts because they can affect the

recommendations we provide to you. Here are some examples to help you understand what this means.

• FBS or its afﬁliates typically earn more when you invest in a product that we or one of our afﬁliates

advise, manage or sponsor, such as a Fidelity mutual fund, ETF or managed account. This creates

an incentive to recommend our investment products over those offered by another company.

• FBS earns more on some third-party funds and ETFs, including through sales loads, 12b-1 fees,

maintenance fees, start-up fees and infrastructure support paid by the fund, its investment advisor

or an afﬁliate. This creates an incentive for us to recommend these products over others.

• FBS and its afﬁliates earn differing levels of compensation depending on the type of account you

choose and services that you select. This creates an incentive for us to recommend certain account

types and services over others.

• For investments that we buy from or sell to you from our own accounts on a principal basis, we

earn compensation from mark-ups, mark-downs and spreads. This creates an incentive to execute

trades with our own accounts rather than on the open market.

For further details on these conﬂicts, see

Fidelity.com/information

Question you might have: How might your conﬂicts of interest affect me, and how will you

address them?

How do your ﬁnancial professionals make money?

Our representatives work for both FBS and our afﬁliated investment advisor FPWA for a salary and

either an annual bonus or variable compensation. They earn more from some products and services

(including certain investment advisory services) than from others. Our representatives have an incentive

to recommend that you select a program or product that pays them more compensation than those

that pay less. For further details, see

Fidelity.com/information

Do you or your ﬁnancial professionals have legal or disciplinary history?

Yes. Visit Investor.gov/CRS for a free and simple search tool to research us and our ﬁnancial professionals.

Questions you may have: As a ﬁnancial professional, do you have any disciplinary history? For

what type of conduct?

Additional Information:

For more information about our brokerage and investment advisory services, or to obtain a copy

of this Form CRS, or the Form CRS for FPWA, go to

Fidelity.com/information

. If you work directly

with FBS, to request up-to-date information, the latest Form CRS or a hard copy of materials that

are hyperlinked above, contact 800.FIDELITY.

Questions you may have:

• Who is my primary contact person? Is he or she a representative of an investment adviser or

broker-dealer?

• Who can I talk to if I have concerns about how this person is treating me?

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithﬁeld, RI 02917

919925.1.0 1.9898973.100

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Fidelity Personal and Workplace Advisors LLC

CUSTOMER RELATIONSHIP SUMMARY

This important disclosure information about Fidelity Personal and Workplace Advisors LLC (“FPWA”)

is provided to comply with the federal securities laws. It does not create or modify any agreement,

relationship, or obligation between you and FPWA (or your ﬁnancial professional). Please consult

your Program Fundamentals and Client Agreement for the terms and conditions that govern your

relationship with us. Effective as of June 30, 2020.

FPWA is a registered investment adviser with the U.S. Securities and Exchange Commission. Investment

advisory and brokerage services and fees differ, and it is important for you to understand these differences.

Free and simple tools are available to research ﬁrms and ﬁnancial professionals at Investor.gov/CRS, which

also provides educational materials about broker-dealers, investment advisers, and investing.

What investment services and advice can you provide me?

FPWA offers investment advisory services that include “wrap fee” advisory programs, discretionary

advisory programs, ﬁnancial planning, and referrals to third-party investment advisers. Our wrap fee

programs offer investment advice from FPWA and other investment advisers, as well as securities trades

and custody services from our broker-dealer afﬁliates. In our wrap fee programs and our discretionary

advisory programs, a subadviser we hire (which is typically an FPWA afﬁliate) will have discretion to

buy and sell mutual funds, exchange-traded products (ETPs), and/or other securities for your account

without your consent to each trade. The subadviser will monitor your account and investments

periodically based on the ﬂexibility of the program and investment strategy you have selected. You

must meet an account minimum to open an advisory account in most of our programs. Current account

minimums are described at Fidelity.com/communications. In some of our programs, you can only

invest in Fidelity mutual funds and ETPs.

We provide ﬁnancial planning to clients enrolled in certain discretionary programs and, for clients at

certain asset levels, on a stand-alone basis. Our ﬁnancial planning services help you evaluate your ability

to meet identiﬁed goals and can also provide suggestions for changes to your asset allocation. Whether

and how to implement any asset allocation or other recommendation provided as part of our ﬁnancial

planning services is your responsibility and is distinct from our discretionary advisory services. Our

ﬁnancial plans are not monitored or updated after they are provided to you. In addition, we provide

referral services, which include recommendations to third-party investment advisers to help you with

your investment and ﬁnancial needs. We do not monitor these third-party investment advisers.

For more information regarding our advisory offerings, please see Fidelity.com/communications. Our

afﬁliated broker-dealer, Fidelity Brokerage Services LLC (“FBS”), also offers brokerage accounts and

services to retail investors, as described in the accompanying document. Please see Fidelity.com

/communications.

Questions you may have:

• Given my ﬁnancial situation, should I choose an investment advisory service? Why or why not?

•

How will you choose investments to recommend to me? What is your relevant experience,

including your licenses, education, and other qualiﬁcations?

•

What do these qualiﬁcations mean?

What fees will I pay?

Your fees will depend on the investment advisory program you select. See the respective program

disclosure document for speciﬁc fees at Fidelity.com/information. Each wrap fee program charges an

advisory fee, typically based on the amount of assets that you have in the program, which covers the

ongoing management of your account(s), as well as brokerage, clearing, and custody services provided

by FBS and other broker-dealer afﬁliates and can cover assistance from our representatives and access

to ﬁnancial planning services. Fees are typically deducted from your account in arrears on a quarterly

basis. Wrap program fees include most transaction costs and fees to FBS and are generally higher than

a typical asset-based advisory fee that does not include transaction costs for brokerage services. Our

other discretionary advisory programs also charge asset-based fees or a subscription fee depending

on the program. Typically, the more assets there are in your program account, the more you will pay in

fees, and we have an incentive to encourage you to increase the assets in your account. Program fees

do not include (1) underlying expenses of mutual funds and ETPs purchased for your account (though

note that we credit certain revenue we receive from your mutual fund and ETP investments to your

program account as explained in your Client Agreement); (2) certain charges resulting from transactions

for your account executed with or through unafﬁliated broker-dealers; (3) fees of investment advisers

we refer you to; and (4) some incidental fees and expenses. In some wrap fee programs we charge an

extra fee if your assets are invested in individual securities through a separately managed account. We

charge a ﬁxed fee for our stand-alone ﬁnancial planning, and we receive a fee from advisers to whom

we refer clients.

You will pay fees and costs whether you make or lose money on your investments. Fees and costs

will reduce any amount of money you make on your investments over time. Please make sure you

understand what fees and costs you are paying. For additional information regarding program fees,

please see Fidelity.com/information.

Question you may have: Help me understand how these fees and costs might affect my

investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much

will be invested for me?

What are your legal obligations to me when acting as my investment adviser? How else does

your firm make money and what conflicts of interest do you have?

When we act as your investment adviser, we have to act in your best interest and not put our interest

ahead of yours. At the same time, the way we make money creates some conﬂicts with your interests.

You should understand and ask us about these conﬂicts because they can affect the investment advice

we provide you. Here are some examples to help you understand what this means.

• FPWA or its afﬁliates earn more fees when your assets are invested in a product that we (or our

afﬁliates) advise, manage, or sponsor, such as a Fidelity mutual fund or ETP. We will apply a fee

credit to address the incentive to invest your assets in these products over others.

• FPWA or its afﬁliates also earn fees when your assets are invested in some third-party funds and

ETPs. We will apply a fee credit to address the incentive to invest your assets in those products

over others.

• Our investment advisory programs charge different fees. This creates an incentive for us to

recommend advisory programs that pay us or our afﬁliates higher fees over other programs.

Questions you may have: How might your conﬂicts of interest affect me, and how will you

address them?

How do your financial professionals make money?

For more details on conﬂicts, please see Fidelity.com/information.

Our representatives work for both FPWA and our afﬁliated broker-dealer, FBS, for a salary and either an

annual bonus or variable compensation. They earn more from some advisory programs than from other

programs, or from providing brokerage services through FBS. Our representatives have an incentive to

recommend that you select a program or product that pays them more compensation than those that

pay less. For more details on compensation, please see Fidelity.com/information.

Do you or your financial professionals have legal or disciplinary history?

Yes. Visit Investor.gov/CRS for a free and simple search tool to research us and our ﬁnancial professionals.

Questions you may have: As a ﬁnancial professional, do you have any disciplinary history? For

what type of conduct?

Additional Information

For more information about our investment advisory and brokerage services, or to obtain a copy of this

Form CRS, or the Form CRS for FBS, go to Fidelity.com/information. To request up-to-date information,

the latest Form CRS, or a hard copy of materials that are hyperlinked above, contact 800.FIDELITY.

Questions you may have:

• Who is my primary contact person? Is he or she a representative of an investment adviser or

broker-dealer?

•

Who can I talk to if I have concerns about how this person is treating me?

920069.1.0 1.9898522.100

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The Fidelity Account

CUSTOMER AGREEMENT AND ADDITIONAL INFORMATION

CUSTOMER AGREEMENT

About This Agreement

An introduction that includes a summary of Fidelity’s

responsibilities and the responsibilities you agree to accept

in using your account.

Account Features

Descriptions of the basic features of your account and several

optional features, such as cash management features.

Account Policies

Information on policies that affect how your account works, how

orders are processed, and other account functions.

Borrowing on Margin

How a margin account works, the terms and conditions of its use,

and a discussion of risks associated with margin borrowing.

Disclosures

Information on liability, certain regulations, and

predispute arbitration.

ADDITIONAL INFORMATION

Fees

Fidelity’s brokerage fee schedules, fees for various features

and services, and margin borrowing charges.

Privacy Notice

This document describes the features, policies, fees, and risks

associated with your Fidelity Account.

The first section is the agreement, or contract, for your account.

The second section includes a copy of the current fee schedule

and other account-related information.

Please review this document and keep it for your records.

Do not mail it in with your application.

Things to Know

Before Using Your Account

The information in this box is only a summary. Please read the

agreement for more complete information.

Using your brokerage account involves risks,

for which you assume full responsibility.

As the account owner, you are fully responsible for monitoring

your account and for all investment decisions and instructions

concerning your account. Unless we have contractually agreed

otherwise, we have no responsibility for monitoring your account

or your investment decisions, even if your decisions were based

on our recommendations.

Placing orders during times when markets are volatile can

be risky.

Before you start using your account or any account feature,

it’s essential that you understand the terms, conditions, and

policies that apply. You should also understand your relationship

with Fidelity, as described herein and in the FBS Form CRS, as

well as the conflicts of interest that exist as described in the

Products, Services, and Conflicts of Interest disclosure docu-

ment, available online at Fidelity.com/Reg-BI-Disclosure.

A joint owner or any one of multiple trustees can place any order

in a joint account or trust account (including removing all of the

assets) without the approval of the other owner(s)

or trustee(s) and without any obligation on Fidelity’s part

to question the action.

There are certain situations in which it is

essential that you get in touch with us.

You need to tell us immediately if any of the following occur:

• You notice anything incorrect or suspicious concerning your

orders, account activity, or statements.

• Your financial circumstances or goals change.

• You become subject to laws or regulations concerning cor-

porate insiders, the reporting of certain investments, or

employment in the securities industry.

Disputes between you and Fidelity are settled

by arbitration.

As with most brokerage accounts, the parties agree to waive

their rights to sue in court, and agree to abide by the findings of

an arbitration panel established in accordance with an

industry self-regulatory organization.

About This Agreement

Fidelity’s Commitments to You

Under this agreement, Fidelity has certain rights and responsibilities.

When we accept your account application, we are agreeing to serve

as your broker and to maintain an account for you. We agree, subject

to our acceptance of an authorized order, to buy, sell, or otherwise

dispose of, or acquire, securities for you according to your instructions.

We also agree to provide, or acquire, various services and features, as

described on the following pages.

Your Commitments to Fidelity

Many of these commitments are spelled out more completely on the

following pages, but in general, when you sign the account application,

you agree:

• to accept full responsibility for the content and accuracy of all

authorized instructions placed on your account, and for all results

and consequences of these instructions, including all investment

decisions, trading orders, tax consequences, and instructions placed

by you or any other person you authorize

• to pay all fees, charges, and expenses incurred on your account, in

accordance with the provisions of this agreement and the fee schedule

in effect at the time (a current schedule is provided with this agreement);

for services we perform at your request that are not covered in our

current fee schedule, you agree to pay the applicable fee

• to maintain enough assets in your account to satisfy all obligations as

they become due, and to understand that we may take whatever steps

we consider necessary to resolve unpaid debts or other obligations

• to use the account and its features according to this agreement and

for your own personal purposes only

• if you use any of our electronic services, or if you provide us with your

email address to have your personal financial information transmitted

electronically, and to receive your initial notice of our privacy policy

electronically

• to keep secure your account number, username, and password, and

any devices, such as mobile phones or pagers, you use in connection

with your account

• to let us monitor and/or record any phone conversations with you

• to let us create a digital representation of your voice—a “voiceprint”—

that may be used for verifying your identity when you contact Fidelity

• to let us verify the information you provide and obtain credit reports

and other credit-related information about you at any time, such as

payment and employment information (whether for margin or any

other purpose), and to permit any third-party financial service provider

to do likewise

• to resolve disputes concerning your relationship with us (other than

class actions) through arbitration rather than in a court of law

• if applying for margin, to authorize Fidelity to lend property of yours

that has been pledged as collateral, and to comply with all provisions

of this agreement concerning margin, including determining that

margin borrowing is appropriate for you, based on your own careful

examination of your financial resources, investment objectives, and risk

tolerance

• if applying for any other optional features or services, to understand

and accept the terms associated with them

• to protect Fidelity against losses arising from your usage of market

data and other information provided by third parties

• to understand that, whenever you invest in, or exchange into, any

mutual fund (including any fund chosen for your core position),

you are responsible for reading that fund’s prospectus, including

its description of the fund, the fund’s fees and charges, and the opera-

tion of the fund

• to notify us in writing any time there is a material change in your

financial circumstances or investment objectives

• to be bound by the current and future terms of this agreement,

from the time you first use your account or sign your application,

whichever happens first

• that if you have authorized someone to act on your behalf in your

account, any and all disclosures, required or otherwise, may be

provided solely to you or the individual acting on your behalf as part

of the scope of his or her authority

FIDELITY ACCOUNT CUSTOMER AGREEMENT

FIDELITY

ACCOUNT CUSTOMER AGREEMENT

Who’s Who in This Agreement

In this document, “Fidelity,” “us,” and “we” include Fidelity

Brokerage Services LLC (“FBS”) and National Financial Services

LLC (“NFS”) and their employees, agents and representatives, as

the context may require. “You” and “account owner” refer to the

owner indicated on the account application; for any account with

more than one owner or authorized person (such as a joint or trust

account), “you” and “account owner” or “account owners” refer to

all owners, collectively and individually.

How to Contact Us

For matters concerning your account, including questions,

changes, and notification of errors, reach us:

In Writing

Fidelity Investments

Client Services

P.O. Box 770001

Cincinnati, OH 45277-0045

By Phone

800-544-6666

Online

Fidelity.com

Account Features

The Fidelity Account

brokerage account offers access to a range

of integrated financial services, making it a versatile investment and

cash management tool. Certain features and services are standard

with your account. Others are optional, and may be added either

when you open your account or later. Note that some features and

fees vary depending on the nature of your relationship with Fidelity.

Industry regulations require that Fidelity Brokerage Services LLC (FBS)

and its clearing firm, National Financial Services LLC (NFS), allocate

between them certain functions regarding the administration of your

account. The following is a summary of the allocation

of those functions performed by FBS and NFS.

FBS is responsible for:

• Obtaining and verifying account information and documentation.

• Opening, approving and monitoring trading and other activity in

your account.

• Acceptance of orders and other instructions from you regarding

your account, and for promptly and accurately transmitting those

orders and instructions to NFS.

• Determining the suitability of investment recommendations and

advice, and that those persons placing instructions for your account

are authorized to do so. NFS will not give you advice about your

investments and will not evaluate the suitability of investments

made by you, your investment representative or

any other party.

• Operating and supervising your account and its own activities in

compliance with applicable laws and regulations, including compli-

ance with federal, industry and NFS margin rules

pertaining to your margin account and for advising you of

margin requirements,

• Maintaining the required books and records for the services it

performs.

• Investigating and responding to any questions or complaints you

have about your account(s), confirmations, your periodic statement

or any other matter related to your account(s). FBS will notify NFS

with respect to matters involving services performed by NFS.

• NFS is responsible, at the direction of FBS, for:

• The clearance and settlement of securities transactions.

• The execution of securities transactions, in the event NFS accepts

orders from FBS.

• Preparing and sending transaction confirmations and periodic state-

ments of your account (unless FBS has undertaken to do so).

• Acting as custodian for funds and securities received by NFS on

your behalf.

• Following the instructions of FBS with respect to transactions and

the receipt and delivery of funds and securities for your account.

• Extending margin credit for purchasing or carrying securities on

margin.

• Maintaining the required books and records for the services it

performs.

Standard Features

Securities Trading

This account is a brokerage account that allows the trading and

holding of many securities that are publicly traded in the United

States, such as most securities in these categories:

• stocks, including common and preferred

• bonds, including corporate, municipal, and government

• convertible securities

• mutual funds, including Fidelity funds, non-Fidelity funds, and

closed-end funds such as exchange-traded funds (ETFs)

• options, including stock and index options, and in some cases

options offered through an employee stock option program (ESOP)

• certificates of deposit (CDs)

• unit investment trusts (UITs)

In addition, the account can be used to trade certain foreign securi-

ties (either directly or as depositary receipts) and precious metals.

Fidelity may make non-personal historical trading data available to

institutional clients on an aggregate basis for analysis purposes (such

as trending).

Some investments that cannot be traded through your Fidelity

Account

are futures and commodities.

When you place a trade, you may have a choice of order types,

including market orders, limit orders, stop orders, and stop-limit

orders. To find out how these different types of orders work, and

for other helpful information, go to Fidelity.com/brokerage.

Foreign Securities Trading

Fidelity offers you two different ways to trade foreign stocks. You

can utilize either Fidelity’s “International Trading” functionality or

its “Foreign Ordinary Share Trading” service. International Trading

allows you to trade most common stocks and exchange-traded funds

(ETFs) directly in the local market with an option to settle your trade

in U.S. dollars or in the local currency. Foreign Ordinary Share Trading

allows you to trade shares in foreign corporations in the over-the-

counter (OTC) market through a U.S. market maker. If you are using

Fidelity’s International Trading functionality, you will be subject to

the terms and conditions of the International Trading Supplement.

However, all customers trading foreign securities should be aware of

certain risks described below:

Trading in foreign securities, including direct investments in foreign

markets, involves various investment risks, including foreign exchange

risk (the possibility that foreign currency will fluctuate in value against

the U.S. dollar), increased volatility as compared to the U.S. markets,

political, economic, and social events that may influence foreign mar-

kets or affect the prices of foreign securities, lack of liquidity (foreign

markets may have lower trading volumes and fewer listed companies,

shorter trading hours, and restrictions on the types of securities that

foreign investors may buy and sell), and less access to information

about foreign companies. Emerging markets, in particular, can be

subject to greater social, economic, regulatory, and political uncer-

tainties, and can be extremely volatile.

Trading in foreign securities also may be subject to various credit,

settlement, operational, financial, and legal risks. These risks may

include but are not limited to:

Physical Markets. Certain markets may have less regulated or less

liquid securities markets. In addition, some countries still rely on

physical markets that require delivery of properly endorsed share

certificates to effect trades. As a result, the settlement process can be

lengthy (and erratic in some markets) and carries an increased risk of

failure, including, but not limited to, the failure of the counterparty to

deliver securities in exchange for payment.

Misidentification of Securities. Foreign companies may have mul-

tiple classes of securities, including “foreign” and “local” shares.

Inadequate understanding of a foreign company’s capital structure

or imprecision in placing orders can result in a purchase of the wrong

securities.

Trading Days and Hours. Differences in trading days and hours can

also create operational issues, trading delays, and complicate clear-

ance and settlement. Foreign securities orders will not be sent to

the local market except during market hours in such country. Orders

entered during such nonmarket hours may be held until the local

market is open.

Cross-Border Settlement. Cross-border settlement involves the inter-

action of different settlement systems and differing (and potentially

inconsistent) laws in each of the affected countries. In addition, par-

ticipation in shareholder voting and/or dividend payments in non-U.S.

securities is subject to the rules and regulations of the non-U.S. mar-

ket in which the security was issued and may require the disclosure

of your personal information, including but not limited to, name,

address and country of citizenship and/or residence.

Tax Treatment. There may be negative tax consequences as a result

of trading in certain countries. You should consult a tax

advisor for further information.

FIDELITY ACCOUNT CUSTOMER AGREEMENT

Foreign securities positions that are not in the custody or control of NFS

are not covered by SIPC or any additional insurance secured by NFS.

Fidelity may limit, restrict, or terminate ability to trade in certain

foreign securities at any time and in Fidelity’s sole discretion.

Please refer to Additional Information for more on Fidelity’s broker-

age fee schedules, fees for various features and services, and margin

borrowing charges. Note that foreign jurisdictions may impose addi-

tional fees, taxes, or other charges from time to time, which may not

be reflected in the fee schedule in effect at that time. By placing a

trade in a foreign security, you agree to pay any such applicable fees,

taxes, or other charges, regardless of notice.

Core Account

Your Fidelity Account

includes a core account that holds assets

awaiting investment or withdrawal. Any amount in your core account

will be held in the core position specified (including by default) or

selected by you on your Fidelity Account

application.

Depending on the type of Fidelity Account

, the available options for

your core position may include a money market mutual fund, a bank

sweep, or a free credit balance. For purposes of the Core Account

section of this Agreement, the free credit balance is referred to as

the “Taxable Interest Bearing Option.” Please note that this is differ-

ent from the Intra-day Free Credit Balance described in the Credits

to Your Account section of this Agreement. More details about the

money market mutual fund and bank sweep can be found, respec-

tively, in the money market mutual fund’s prospectus or the FDIC

Insured Deposit Sweep Program Disclosure, both of which will be

made available to you when applicable. Like any free credit balance,

the Taxable Interest Bearing Option represents an amount payable

to you on demand by Fidelity. Subject to applicable law, Fidelity may

use this free credit balance in connection with its business. Fidelity

may, but is not required to, pay you interest on this free credit bal-

ance, provided that the accrued interest for a given day is at least half

a cent. Interest, if paid, will be based upon a schedule set by Fidelity,

which may change from time to time at Fidelity’s sole discretion.

Fidelity reserves the right to make changes to the available options

and/or the options available to you for your core position.

If You Reside Outside the United States

If we determine that you reside outside the United States in any

country other than Canada (as described in the Residing Outside the

United States section of this Agreement) at the time you open your

Fidelity Account

, or at any point in time after you open your Fidelity

Account

(e.g., as a result of a subsequent move), your core account

will not operate as described above. Instead, during such time as we

believe you reside outside the United States, the following will apply:

1. New Fidelity Accounts.

If you select the Taxable Interest Bearing Option as your core posi-

tion (or if you subsequently change your election to the Taxable

Interest Bearing Option), your core account will operate as other-

wise described in this Agreement except that you will be unable

to change your core position election, even if other options are

available to you.

If you select or default into any option for your core position other

than the Taxable Interest Bearing option, the process of sweep-

ing the Intra-day Free Credit Balance to your core account (as

described in the Credits to Your Account section of this Agreement)

will be suspended. As a result, all uninvested cash in your Fidelity

Account

will be held in the Intra-day Free Credit Balance. You will

also be unable to make any change to the option you selected

or were defaulted into for your core position during the account

opening process, except that you may change your election to the

Taxable Interest Bearing Option, if that option is available to you.

Should you make that change, your core account will operate as

if you selected the Taxable Interest Bearing Option as your core

position during the account opening process (as described in the

immediately preceding paragraph).

2. Existing Fidelity Accounts.

If you have a Fidelity Account

that utilizes the Taxable Interest

Bearing Option as your core position (or if you subsequently

change your election to the Taxable Interest Bearing Option), your

core account will operate as otherwise described in this Agreement,

except that you will be unable to change your core position elec-

tion, even if other options are available to you.

If you have a Fidelity Account

that utilizes any option for your core

position other than the Taxable Interest Bearing Option, the process

of sweeping the Intra-day Free Credit Balance to your core account

will be suspended. You will be able to liquidate that position should

you elect to do so, but you will generally be unable to add to it for

as long as we believe you reside outside the United States, except

for automatically reinvested dividends on money market mutual

fund positions and the deposit of accrued interest in the case of a

bank sweep. As a result, all new deposits to your Fidelity Account

or settlement proceeds from transactions in your Fidelity Account

will be held in the Intra-day Free Credit Balance. You will also be

unable to make any change to your core position election, except

that you may change your election to the Taxable Interest Bearing

Option, if that option is available to you. Should you make that

change, your core account will operate as if you had an existing

Fidelity Account

that utilizes the Taxable Interest Bearing Option

(as described in the immediately preceding paragraph).

Should we determine you no longer reside outside the United States,

if your Fidelity Account

was subject to a suspension, this suspension

will be lifted, the Intra-day Free Credit Balance will be swept to your

core account and held in the core position that you selected or were

defaulted into, and, going forward, your Fidelity Account

will oper-

ate as otherwise described herein.

Statements

We will send an account statement to the address of record:

• every calendar quarter, at a minimum

• for any month when you have trading or cash management activity

Your account statements will show all activity in your account for the

stated period, including securities transactions, cash and margin

balances, credits and debits, and all fees paid directly from your

account.

We will also send out a confirmation for every securities transaction

in your account. The only exceptions are automatic investments,

automatic withdrawals, dividend reinvestments, and transactions

that involve your core position, or the Intra-day Free Credit Balance;

for these activities, your regular account statement serves in place of

a confirmation.

To receive your account statements and confirmations faster, you

can arrange to have them delivered electronically instead of through

the mail. This option is free, and you can switch to or from it any time

upon request.

If you live with immediate family members who also have eligible

Fidelity accounts, you can “household” those accounts to potentially

qualify for enhanced services and features. You may elect to have

accounts householded by completing the information requested

at https://www.fidelity.com/customer-service/how-to-relationship-

householding. You may also elect to have your statements combined

or householded by completing the information requested at https://

www.fidelity.com/customer-service/how-to-combine-statements. By

electing to participate in householding, you agree that Fidelity may

provide the employers of any householded account holders with

account statements, trade confirmations, or other documents as

required by applicable regulations.

In addition, by signing the account application, you consent to have

only one copy of Fidelity mutual fund shareholder documents, such

as prospectuses and shareholder reports (“Documents”), delivered

to you and any other investors sharing your address. Your Documents

will be householded indefinitely; however, you may revoke this con-

sent at any time by contacting Fidelity. Additional details regarding

your consent are provided in the account application.

Account Protection

The securities in your account are protected in accordance with the

Securities Investor Protection Corporation (SIPC) for up to $500,000

(including up to $250,000 for uninvested cash). We also provide

additional coverage above these limits. Neither coverage protects

against a decline in the value of your securities, nor does either

coverage extend to certain securities that are considered ineligible

for coverage.

For more details on SIPC, or to request an SIPC brochure, visit

www.sipc.org or call 202-371-8300.

FIDELITY ACCOUNT CUSTOMER AGREEMENT

Optional Features

You can set up these services using your account application. To add

them to an existing account, contact Fidelity. Some of these features

are covered by their own customer agreements, provided by third

parties and/or are incorporated into this agreement by reference (are

legally considered part of this agreement) and will be provided to

you as applicable. Note that some services are not available for cer-

tain types of accounts.

Checkwriting

Checkwriting is available on many types of registration; exceptions

include certain retirement plans. Note that cancelled checks are not

returned to you, although check imaging may be available.

Debit and Credit Cards; ATM Withdrawals

These cards can be used to make withdrawals at any ATM that

accepts that type of card. Below are the types of cards you may apply

for in connection with your Fidelity Account

Fidelity

Debit Card: All transactions are debited against your

account the same day you make them. Fidelity currently covers the

entire annual card fee.

Credit Cards: There are several different cards available to you.

These cards have different features, including the ability to earn cash

back rewards, while providing convenient access to credit. These

credit cards are issued and administered by a third party. For informa-

tion about rates, fees, and other costs and benefits associated with

the credit card program, visit Fidelity.com/creditcards.

Fidelity BillPay

service is free and allows you to pay your bills online.

It can be set up to make fixed payments automatically, and you can

also use it to send variable periodic payments on demand to desig-

nated payees.

Fidelity MyVoice

Fidelity MyVoice is a free security service. When you call Fidelity,

you’ll no longer have to enter PINs or passwords because Fidelity

MyVoice helps you interact with us securely and more conveniently.

Through natural conversation, MyVoice will detect and verify your

voiceprint in the first few moments of the call. A voiceprint is a

combination of your physical and behavioral voice patterns. Like a

fingerprint, it’s unique to you.

Mobile Phone Number Security Check

In order to protect your account, we may review any changes made

to your mobile phone number to ensure that a newly entered

number is not associated with any known fraudulent activity. You

authorize your mobile provider to disclose information about your

mobile phone account, such as subscriber status, payment method

(whether your account is prepaid or is subject to monthly billing), and

device details, if available, to support identity verification and fraud

avoidance, and for other security purposes for the duration of your

business relationship with us. This information may also be shared

with certain third-party companies whose services we utilize for

security to support your transactions with us, and for identity

verification and fraud avoidance purposes.

If you provide us with a mobile phone number, you agree and

consent that we may contact you at that mobile number with

telephone calls that may utilize an autodialer or via text messages

for the purposes of servicing of your account(s) or investigating and

preventing fraud. We will not use autodialed calls or texts to contact

you for marketing purposes unless we receive your prior express

written consent. You do not have to agree to receive autodialed calls

or texts to your mobile phone number in order to use the products

and services offered by Fidelity. You can decline to receive autodialed

calls and texts to your mobile phone by contacting us at 800-343-3548

or through Fidelity.com. Standard telephone minute and text charges

may apply.

Transferring Money Electronically

Options for transferring cash in and out of your account electronically

include bank wires, which use the Federal Reserve wire system, and

electronic funds transfer (EFT), which works like an electronic check.

You can also set up your account to receive periodic transfers by

activating the Automatic Investment feature. In addition, you can buy

and sell shares of Fidelity mutual funds by telephone and use your

bank account (via electronic funds transfer) to settle the transaction.

Margin Account

A margin account lets you borrow money from NFS, using as collateral

eligible securities that are in your account. A margin account is

designed primarily to finance additional purchases of securities,

although it can also provide overdraft protection for your cash

management activities. For information on the benefits, costs, and risks

of margin, see “Important Information about Margin and Its Risks.”

Dividend Reinvestment

In addition to reinvestment of mutual fund dividends, reinvestment

of dividends from eligible equities and closed-end funds is an option

for most Fidelity accounts, including retirement accounts and those

with margin. You can choose to have the service apply to all eligible

securities in your account, or only to certain ones. You can request

this feature online, by phone, or in writing.

Accessing Your Account

There are a variety of ways you can place orders, access your

account, get market and investment information, or contact Fidelity.

Online choices include Fidelity.com, Fidelity Active Trader Pro

, alerts

and wireless trading services, and other interactive services for com-

puters or handheld devices. Some of these services are offered by

Fidelity directly; others are offered by outside providers.

Telephone choices include Fidelity Automated Service Telephone

(FAST

) as well as Fidelity’s telephone representatives. Both ser-

vices are generally available 24 hours a day, 7 days a week. Please

note that our telephone lines may be recorded, and, by signing the

account application, you are consenting to such recording. If you

do not wish to be recorded, you should contact Fidelity via another

means. You can also speak with a Fidelity Representative in person,

during business hours, at any of our Fidelity Investor Centers around

the country.

Account Policies

Account Registration

Joint Registration

With joint registration accounts, any obligations or liabilities resulting

from one account owner’s actions are joint and several (i.e., are the

responsibility of each account owner, both individually and jointly).

We may enforce this agreement against all account owners or against

any owner individually.

Each owner of a joint account may act as if he or she were the sole

owner of the account, with no further notice or approval necessary

from any joint owner. For example, a joint owner can write checks,

buy and sell securities, withdraw assets, transfer assets into or out of

the account, borrow against the account (such as through short sales

or margin), arrange for account statements, notices, confirmations,

and communications of every kind to be sent only to him or her

and set the delivery preferences to electronic for the receipt of such

communications pursuant to the terms of the Electronic Delivery

Agreement, which is incorporated herein by reference, view all avail-

able historical account documents or change the account’s features

and services (although no account owner may remove another’s

name from the account).

In addition, with joint accounts, the principle of “notice to one is

notice to all” applies. We are legally considered to have fulfilled

FIDELITY ACCOUNT CUSTOMER AGREEMENT

an obligation to the account if we fulfill it with respect to just one

account owner (e.g., sending statements or other required communi-

cations to just one account owner).

Note also that we have no obligation to question the purpose or

propriety of any instruction of a joint account owner or authorized

person that appears to be authentic, or to let other owners know

about any changes an owner has made to the account, unless we

have received written notice to the contrary, from an authorized

person and in good order, at the address referenced earlier under

“How to Contact Us.” We do reserve the right to require, at any time,

the written consent of all account owners and/or authorized persons

before acting on an instruction from any account owner or authorized

person, but we use this right only at our own discretion and for our

own protection.

Laws covering joint or community property vary by state. You are

responsible for verifying that the joint registration you choose is valid

in your state. You may want to consult your lawyer about this. For

joint tenants with rights of survivorship and tenants by the entirety,

on the death of an account owner the entire interest in the account

generally goes to the surviving account owner(s), on the same terms

and conditions. For tenants in common, a deceased account owner’s

interest (which equals that of the other account owner(s) unless spec-

ified otherwise) goes to that account owner’s legal representative.

Tenants in common are responsible for maintaining records of the

percentages of ownership.

Trust Accounts

The provisions in the foregoing section applicable to joint regis-

tration accounts shall likewise apply to trust accounts with multiple

trustees, with one trustee having the rights and responsibilities of

one joint account owner. In addition, applying for a trust account is

considered to be a statement from the trustees that they are autho-

rized, under the terms of the trust and applicable law, to open and

direct a brokerage account on behalf of the trust, to receive notices,

confirmations, account statements, and communications of every

kind and set the delivery preferences to electronic for the receipt of

such communications pursuant to the terms of the Electronic Delivery

Agreement, which is incorporated herein by reference, and that their

orders and transactions will be governed by the terms and conditions

of all applicable trust agreements, and that Fidelity is authorized to

accept instructions from any trustee.

Custodial Registration

For accounts opened under the Uniform Gifts/Transfers to Minors

Acts, you, the account owner, are the custodian. By opening this type

of account, you agree that all assets belong to the minor and that

you will only use them for the minor’s benefit — even after the assets

have been removed from the account.

Account Usage

First Use of Core Account

If a money market mutual fund is your core position, making your

first investment into that fund is your acknowledgment that you have

received and read a prospectus for that fund.

Prohibited Uses and Actions

You are strictly prohibited from using your account in conjunction with

any business as a broker-dealer, trader, agent, or advisor in any type

of security, commodity, future, or contract, or in any business or orga-

nization connected with individuals performing these functions. You

are also prohibited from publicizing or sharing with anyone any infor-

mation you obtain through your account (such as securities quotes).

In addition, be aware that we may freeze your account or suspend

certain privileges, features, or services at any time without notice.

Limits on Mutual Fund Trades

Because excessive trading in mutual fund shares can be detrimen-

tal to a fund and its shareholders, we may block account owners

or accounts that engage in excessive trading from making further

transactions in fund shares. A block on trading fund shares may be

temporary or permanent, and may apply only to certain mutual funds

or all mutual funds, including Fidelity funds.

The decision to impose a block may originate with a mutual fund

company or may be made by Fidelity at the brokerage account

level, if Fidelity believes such a block is warranted. To see what a

given fund com pany’s definition of “excessive trading” is, check

the fund’s prospectus.

In addition, we may restrict or limit any transaction in any mutual

fund or other investment company that we or an affiliate manages or

advises if we believe the transaction could adversely affect the invest-

ment company or its shareholders.

How Transactions Are Settled

Credits to Your Account

During normal business hours (“Intra-day”), activity in your account

such as deposits and the receipt of settlement proceeds are credited

to your account and may be held as a free credit balance (the “Intra-

day Free Credit Balance”).

If you utilize a Fidelity money market fund as your core position,

the Intra-day Free Credit Balance, if any, generated by such activity

occurring prior to the market close each business day (or 4:00 PM ET

on business days when the market is closed and the Fedwire Funds

Service is operating) is automatically swept into your core account,

where it is handled as described in the Core Account section of this

Agreement, except as otherwise noted therein. If you utilize an option

other than a Fidelity money market fund as your core position, the

Intra-day Free Credit Balance, if any, generated by such activity occur-

ring prior to Fidelity’s nightly processing cycle is automatically swept

into your core account, where it is handled as described in the Core

Account section of this Agreement, except as otherwise noted therein.

Activity in your account such as deposits and the receipt of settle-

ment proceeds may also occur after the cut-offs described above, or

on days the market is not open and the Fedwire Funds Service is not

operating (collectively “After-hours”). Those amounts are credited to

your account and may be held as a free credit balance (the “After-

hours Free Credit Balance”), in which case it will be included in the

next sweep into your core account.

If you utilize a Fidelity money market mutual fund as your core

position, there will be an additional automatic sweep into your core

account early in the morning prior to the start of business on each

business day. This sweep will include your After-hours Free Credit

Balance along with credit amounts attributed to certain actual or

anticipated transactions that would otherwise generate an Intra-day

Free Credit Balance on such business day.

Like any free credit balance, the Intra-day and After-hours Free Credit

Balances represent amounts payable to you on demand by Fidelity.

Subject to applicable law, Fidelity may use these free credit balances

in connection with its business. Fidelity may, but is not required to,

pay you interest on free credit balances held in your account over-

night; provided that the accrued interest for a given day is at least half

a cent. Interest, if paid, will be based upon a schedule set by Fidelity,

which may change from time to time at Fidelity’s sole discretion.

Interest paid on free credit balances will be labeled “Credit Interest”

in the Investment Activity section of your account statement. Interest

is calculated on a periodic basis and credited to your account on the

next business day after the end of the period. This period typically

runs from approximately the 20th day of one month to the 20th

day of the next month, provided, however, that the beginning and

ending periods each year run, respectively, from the 1st of the year

to approximately the 20th of January, and approximately the 20th

of December to the end of the year. Interest is calculated by multi-

plying your average overnight free credit balance during the period

by the applicable interest rate, provided, however, that if more than

one interest rate is applicable during the period, this calculation will

be modified to account for the number of days each period during

which each interest rate is applicable.

Each check or Automated Clearing House (ACH) deposit is promptly

credited to your account. However, the money may not be available

to use until up to six business days later, and we may decline to

honor any debit that is applied against the money before the depos-

ited check or ACH has cleared. If a deposited check or ACH does not

clear, the deposit will be removed from your account, and you are

responsible for returning any interest you received on it. Note that

FIDELITY ACCOUNT CUSTOMER AGREEMENT

we can only accept checks denominated in U.S. dollars and drawn

on a U.S. bank account (including a U.S. branch of a foreign bank).

We cannot accept third-party checks. In addition, if we have reason

to believe that assets were incorrectly credited to your account, we

may restrict such assets and/or return such assets to the account from

which they were transferred.

Debits to Your Account

All debit items (including checks, debit card transactions, bill

payments, securities purchases, electronic transfers of money, levies,

court orders or other legal process payments) are paid daily to the

extent that sufficient funds are available. Note that debits to resolve

securities transactions (including margin calls) will be given priority

over other debits, such as checks or debit card transactions.

As an account owner, you are responsible for satisfying all debits

on your account, including any debit balance outstanding after all

assets have been removed from an account, any margin interest (at

prevailing margin rates) that has accrued on that debit and any costs

(such as legal fees) that we incur in collecting the debit. You are also

responsible for ensuring that checks issued to you representing dis-

tributions from your account are promptly presented for payment. If

a check issued to you from your account remains uncashed and out-

standing for at least six months, you authorize and instruct Fidelity,

in its sole discretion, to cancel the check and return the underlying

proceeds to you by depositing the proceeds into your account.

To help ensure the proper discharge of debits, it is our policy (unless

we agree to do otherwise) to do the following when settling debits

against your account. Activity in your account such as wire disburse-

ments and bill payments are debited from your account.

If you utilize a Fidelity money market fund as your core position and

there are debits in your account generated by such activity occurring

prior to the market close each business day (or 4:00 PM ET on busi-

ness days when the market is closed and the Fedwire Funds Service

is operating) these debits will be settled using the following sources,

in this order:

• the Intra-day Free Credit Balance

• the core account

• any shares of a Fidelity money market mutual fund held in the

account that maintains a stable (i.e., $1.00/share) net asset value

and is not subject to a liquidity fee or similar fee or assessment

• if you have a margin account, any margin surplus available, which

will increase your margin balance

If you utilize an option other than a Fidelity money market fund as

your core position, and there are debits in your account generated

by such activity occurring prior to Fidelity’s nightly processing cycle

these debits will be settled using the following sources, in this order:

• any Intra-day Free Credit Balances

• the core account

• any shares of a Fidelity money market mutual fund held in the

account that maintains a stable (i.e., $1.00/share) net asset value

and is not subject to a liquidity fee or similar fee or assessment

• if you have a margin account, any margin surplus available, which

will increase your margin balance

If you utilize Fidelity money market mutual fund as your core position,

there will be an additional sweep early in the morning prior to the start

of business on each business day, and certain unsettled debits in your

account along with debits associated with certain actual or anticipated

transactions that would otherwise generate a debit in your account

during the business day will be settled using the core account.

In addition to the foregoing, we may turn to the following sources:

• any shares of a Fidelity money market fund held in another non-

retirement account with the same registration (which you authorize

us to sell for this purpose when you sign the application)

• any securities in any other account at Fidelity in which you have an

interest

If you want to opt out of the foregoing, please contact Fidelity for

more information.

In the event that your account does not contain sufficient cash,

Fidelity may liquidate securities to satisfy a court order, levy, or any

other legal process payment. Money market fund shares used to pay

debits are redeemed at the share price in effect at the time. For dis-

closures concerning money market funds, see “Money Market Fund

Investments.”

Resolving Unpaid Obligations or Other Obligations

If certain of the sources listed above in “Debits to Your Account”

(which are defined as your “available balance” for purposes of this

agreement) are not enough to satisfy a given debit, we reserve the

right to take action as we see fit, including any of the following:

• advance funds to your account from your credit card

• decline to honor the debit, which may result in fees (such as

a returned check fee) or other consequences for you

• if you have a margin account and the unsatisfied debit is for a

securities purchase, draw on the available balance of another

account of yours at Fidelity

If you have a margin account, we may transfer to that account any

unresolved debit from other accounts of yours.

Note that at any time, we may reduce your available balance to cover

obligations that have occurred but not yet been debited, including

but not limited to withholding taxes that should have been deducted

from your account.

It is important to understand that we do have additional choices for

resolving unsatisfied obligations. Like many other securities brokers,

we reserve the right to sell or otherwise use assets in an account

to discharge any obligations the account owner(s) may have to us

(including unmatured and contingent obligations), and to do so

without further notice or demand. For example, if you have bought

securities but not paid for them, we may sell them ourselves and use

the proceeds to settle the purchase.

We may also use property to satisfy a margin deficiency or other

obligation, whether or not we have made advances in connection

with this property. This provision extends to any property held by you

or carried for any account of yours, including any credit balances,

assets, and contracts, as well as shares of any mutual funds

or other investment companies for which Fidelity or an affiliate

provides management or administrative services. Although Fidelity

may use other methods when it determines they may be more appro-

priate, Fidelity reserves the right to use the provisions described in

this section at any time, except in cases involving retirement accounts

when these provisions would conflict with the Employee Retirement

Income Security Act of 1974 (ERISA) or the Internal Revenue Code of

1986, both as amended.

Transaction Settlement Deadlines

Generally, you need to pay for all transactions or deliver all securities

by 2 p.m. Eastern time on the settlement date. We reserve the right

to cancel or liquidate, at your risk, any transaction not settled in a

timely way. Unless we require otherwise, margin calls are due on or

before the date indicated, regardless of the settlement date of the

transactions, also by 2 p.m. Eastern time.

Non-Transferable Securities

In the event that any securities in your account become non-transfer-

able, NFS may remove them from your account without prior notice.

Non-transferable securities are those where transfer agent services

have not been available for six or more years. A lack of transfer

agent services may be due to a number of reasons, including that

the issuer of such securities may no longer be in business and may

even be insolvent. NFS may remove non-transferable securities from

your account pursuant to a Securities and Exchange Commission

approved program that permits our custodian for these securities to

no longer maintain the physical certificates representing the positions

in these securities. Please note the following:

• There are no known markets for these securities.

• We are unable to deliver certificates to you representing these

positions.

• These transactions will not appear on Form 1099 or any other

tax-reporting form.

• If the position is held in a retirement account, we will not report the

removal of the position as a taxable distribution and any reinstate-

ment of the position will not be reported as a contribution.

• If transfer agent services become available sometime in the future,

NFS will use its best efforts to have the position reinstated in your

account.

• Positions removed from your account will appear on your next avail-

able account statement following such removal as an “Expired”

transaction.

By opening and maintaining an account with us, you consent to

our actions as we have described them above, and you waive any

claims against us arising out of such actions. You also understand

that we do not provide tax advice concerning your account or any

securities that may be the subject of removal from or reinstatement

into your account, and you agree to consult with your own tax advisor

concerning any tax implications that may arise as a result of any of

these circumstances.

Policies on Optional Features

Debit Cards and Fidelity BillPay

Service

These features are available to nonretirement accounts that have

individual or joint registrations. Some cards may be available for trust

or retirement registrations. On joint accounts, a co-owner may apply

for an additional card in his or her own name. As an account owner,

you are responsible for all usage of these features.

Each of these features is covered by its own customer agreement,

which collectively are incorporated herein by reference (are legally

considered part of this agreement). The appropriate agreement will

be provided to you when you apply for a feature. For each feature

you choose, it is your responsibility to understand the terms of its

agreement before you begin using the feature. In the case of credit

or debit cards, it is also your responsibility to advise any other card

holders on your account that these agreements will apply to them,

that they may be responsible for paying any charges you or other

card holders fail to pay, and that their credit records may be affected

by any activity on the account, whether attributable to them or not.

Total debit card transactions generally are limited to your available

balance.

Note that on any account, we typically reduce your available balance

at the time you make a debit card transaction, rather than waiting for

the transaction to be posted to your account.

Bank Wires and Electronic Funds Transfer (EFTs)

Bank wire transfers to your bank are normally processed the same

day, depending on the time received. A wire normally may be for

between $10,000 and $999,999.

EFTs are normally completed within three business days of your

request. Money deposited via EFT is normally not available for

withdrawal for four to six business days. An EFT transfer may be for

between $10 and $100,000. For the EFT feature to be established, at

least one common name must match exactly between your Fidelity

and bank accounts. To send and receive EFT transactions, your bank

must be a member of the Automated Clearing House (ACH) system.

For EFT transactions, you hereby grant us limited power of attorney

for purposes of redeeming any shares in your accounts (with the

right to make any necessary substitutions), and direct us to accept

any orders to make payments to an authorized bank account and to

fulfill these orders through the redemption of shares in your account.

You agree that the above appointments and authorizations will con-

tinue until we receive written notice of any change, although we may

cease to act as agents to the above appointments on 30 days’ written

notice to your account’s address of record. You further understand

that Fidelity may notify you electronically or by phone when the EFT

feature is set up or EFT transactions are initiated on your account.

If you have arranged to have direct deposits made to your account,

at least once every 60 days from the same person or company,

you can call Fidelity at 800-343-3548 to find out whether or not the

deposit has been made.

Dividend Reinvestment Program

With this feature, all dividends paid by eligible securities that you

designate for reinvestment are automatically reinvested in addi-

tional shares of the same security. (For purposes of the Dividend

Reinvestment Program, “dividends” means cash dividends and

capital gain distributions, late ex-dividend payments, and special

dividend payments, but not cash-in-lieu payments.) In designating

any eligible security for reinvestment, you authorize us to purchase

shares of that security for your account.

To be eligible for this feature, a security must satisfy all of the

following:

• be a closed-end fund, common stock, or foreign security (generally

American depository receipts [ADRs])

• be margin eligible (as defined by NFS)

• be held in street name by NFS (or at a securities depository on

its behalf)

• not be held as a short position

Dividends are reinvested on shares that satisfy all of the following:

• the security is eligible

• you own the shares on the dividend record date

• you own the shares on the dividend payable date (even if you sell

them that day)

FIDELITY ACCOUNT CUSTOMER AGREEMENT

Trading in Volatile Markets — Understand the Risks

Volatile markets can present higher trading

risks. Ways to manage some of these risks

include:

• Consider placing limit orders instead

of market orders In certain market

conditions or with certain types of

securities offerings (such as IPOs and

technology stocks), price changes

may be significant and rapid during

regular or after-hours trading. In these

cases, placing a market order could

result in a transaction that exceeds

your available funds, meaning that

Fidelity would have the right to sell

other assets in your account. This is

especially a risk in accounts that you

cannot easily add money to, such as

retirement accounts.

• Be aware that quotes, order execu-

tions, and execution reports could

be delayed

During periods of

heavy trading or volatility, quotes

that are provided as “real time” may

be stale — even if they appear not

to be — and you may not receive

every quote update. Security prices

can change dramatically during such

delays, and order execution may be

delayed or unavailable.

• If you attempt to cancel an order,

understand that there is no guar

antee that an open order can be

canceled, in whole or in part

If you

wish to replace an order you have

attempted to cancel, be sure your

original order is actually canceled.

Don’t rely on a receipt for your can-

cellation order; that order may have

arrived too late for us to act on.

• Use other ways to access Fidelity

during peak volume times

Phone or

computer capacity limitations could

mean delays in getting information or

placing orders. If you are having prob-

lems with one method, try another.

The chances of encountering these risks

are higher for individuals using day-trad-

ing strategies. In part for this reason,

Fidelity does not promote day-trading

strategies.

For more information on trading risks and

how to manage them, visit Fidelity.com or

contact Fidelity.

FIDELITY ACCOUNT CUSTOMER AGREEMENT

• your position in the security has been settled on or before the

dividend record date

• the shares are designated for reinvestment as of 9 p.m. Eastern

time on the dividend record date

Shares purchased through the Dividend Reinvestment Program

will generally be placed in your account as of the dividend payable

date. Note, however, that the stock price at which your reinvestment

occurs is not necessarily the same as the price that is in effect on

the dividend payable date. This is because we generally buy the

shares of domestic companies two business days before the div-

idend payable date, at the market price(s) in effect at the time, in

order to help ensure that we have shares on hand to place in your

account on the dividend payable date. Other factors may require

the purchase of the shares on a different business day, which may

be before, on, or after the dividend payable date, e.g., dividends of

foreign companies. Also, shares of securities that have an irregular

ex-dividend date are purchased on the ex-dividend date and placed

in your account on the second business day following the ex-div-

idend date. Therefore, you may end up receiving more or fewer

shares than if your dividend had been reinvested on the dividend

payable date itself, particularly if there are significant changes in

the market price of a security just before its dividend payable date.

If several purchase transactions are necessary to reinvest your and

other customers’ dividends in a particular security, the price per

share will be the weighted average price per share for all shares pur-

chased. If sufficient shares are unavailable in the market to satisfy all

customers’ requirements for dividend reinvestment for a security, the

dividend will not be reinvested. The reinvestment of dividends may

be delayed in certain circumstances. NFS reserves the right to sus-

pend or completely remove securities from participation in dividend

reinvestment and credit such dividends in cash at any time without

notice.

Automatic reinvestments often involve purchase of fractional shares,

calculated to three decimal places. Partial shares pay prorated divi-

dends and can be sold if you sell your entire share position, and will

be liquidated automatically in transfers and certain other situations,

but otherwise typically cannot be sold.

Although for dividend reinvestments your regular account state-

ment takes the place of a trade confirmation, you can generally

obtain status information the day after the reinvestment date by

contacting Fidelity.

If you transfer or reregister your account within Fidelity (for exam-

ple, by changing from a Traditional IRA to a Roth IRA), you need to

re-designate any securities whose dividends you want reinvested.

DTC’s Dividend Reinvestment Program

For certain securities, dividend reinvestment may occur through

DTC’s (Depository Trust Company) dividend reinvestment program

(DRP). This plan may be utilized if an issuer offers reinvestment at

a discount. Eligibility for a security to be enrolled in the DRP or the

Fidelity dividend reinvestment program is determined by Fidelity

and may change without notice. A DRP transaction will post to your

account when the shares are made available to Fidelity by DTC.

Such transactions are generally posted within 15 days after pay date.

Note that dividend reinvestment does not ensure a profit on your

investments and does not protect against loss in declining markets.

If you sell your dividend-generating shares before the posting date,

the dividend will not be reinvested.

Optional Dividends

At times certain issuers that pay dividends may offer shareholders

an opportunity to elect to receive stock or cash, or a combination

of both. This is known as an “Optional Dividend.” The issuer will

assign a default if no instruction is received. For example, the

default option could be cash, stock, or a combination of both. You

have the opportunity up until the applicable deadline to make an

election to receive the payment of your choice. Please be advised, if

you do not make an election prior to the deadline, your account will

be assigned a default election based on the dividend reinvestment

program instructions you established with respect to your account.

This default election will be utilized in lieu of the issuer’s default

option being applied to your account.

Fractional Share Trading

Fidelity’s fractional share trading functionality allows you to buy

and sell fractional share quantities and dollar amounts of certain

securities (“Fractional Trading”). Fractional Trading presents unique

risks and has certain limitations that you should understand before

placing your first trade.

Trading

Orders to buy or sell may be entered using either a fractional share

quantity (e.g., 2.525 shares) or a dollar value (e.g., $250.00). Share

quantities can be specified to three decimal places (.001). Dollar-

value orders will be converted into share quantities for execution,

again, to three decimal places. In all cases, when converting

dollar-value orders into share quantities, the share quantities will

be rounded down.

For a variety of reasons, including but not limited to this conversion

convention, the actual amount of an executed dollar-value trade

may be different from the requested amount. The actual amount

of an executed order to buy or sell a dollar value of a security may

also be lower than the amount requested due to the deduction of

certain fees (e.g., the Additional Assessment) or taxes.

Orders received in good form by FBS will be accepted and trans-

mitted to NFS for execution. You may attempt to cancel an order,

but there is no ability to request that an order be “cancelled and

replaced” (i.e., you cannot modify an order once it has been sub-

mitted). Instead, you will need to cancel your order and then submit

a new one.

Fractional Trading supports market and limit orders only for frac-

tional share quantities of a security that are good for that day’s

trading session, or in the case of an order entered outside of mar-

ket hours, that are good until the close of the next trading session.

Because of this, your ability to buy or sell a security using Fractional

Trading may be more restricted than if you were to buy or sell tradi-

tional whole share quantities of the same security.

In the event of a trading halt of a security, Fractional Trading of that

security will also be halted, and your order will be held until trading

resumes. However, your order is good only for that day’s trading

session, or in the case of an order entered outside of market hours,

good until the close of the next trading session. If trading does

not resume or your order is not executed by the close of that day’s

Fractional Trading window, it will be cancelled.

You can generally trade exchange-listed National Market System

(“NMS”) stocks using the Fractional Trading functionality. However,

certain NMS stocks may not be made available for Fractional

Trading, and Fidelity reserves the right to modify the list of eligible

NMS stocks at any time without notice to you. Any modification to

the list of eligible NMS stocks available for Fractional Trading will

not affect any fractional share interests previously acquired by you.

Additionally, you may not be able to place trades through some

of Fidelity’s order entry platforms (e.g., Fractional Trading may be

available via mobile device but not through the live representative

channel).

Trade Execution

FBS will act as your agent and NFS will act in either a principal or a

mixed capacity (i.e., both as agent and principal) when executing

your order. The whole share component of any order will be exe-

cuted by NFS as agent at the price NFS receives in the market. The

fractional share component of any order will be executed by NFS as

principal against its principal account. When a fractional share inter-

est is allocated to your account, NFS will maintain custody of the

whole share in which you have the fractional interest. Any fractional

share interest in the whole share not allocated to your account may

be allocated to other customers or to NFS as principal.

All orders with a fractional share component will be marked “Not

Held,” which gives Fidelity the time and price discretion to execute

the order without being held to the security’s current quote. In

connection therewith, each time you submit an order to buy or sell

a fractional share quantity or dollar amount of a particular security,

you authorize NFS to “work the order.” If you do not wish your

order to be handled on a Not Held basis, you should not engage in

Fractional Trading.

FIDELITY ACCOUNT CUSTOMER AGREEMENT

In the case of a sale of the fractional component of any order, that

sale will be executed at the then current National Best Bid or Offer

(“NBBO”). Please note that this price may be higher or lower than

the price at the time you place your order. In the case of a purchase

of the fractional component of any order, if NFS has sufficient princi-

pal inventory, that purchase will also be executed at the then current

NBBO. However, if NFS does not have sufficient principal inventory,

that purchase will be executed at the price received in the market.

For orders placed prior to market open, Fidelity may wait for the

primary exchange to open before commencing trading in a particu-

lar security. When trading as principal for its own account, NFS may

make a profit or incur a loss on each trade.

Additionally, NFS may be required to correct or adjust trades that

(for a variety of reasons) have been executed in amounts that either

exceed or fall short of the amounts requested. These trade correc-

tions and adjustments could arise in connection with either or both

of the agency and principal components of the executed orders.

Regardless, these trade corrections and adjustments will be executed

by NFS in a principal capacity, and when trading as principal for its

own account, NFS may make a profit or incur a loss.

Shareholder Rights

Fractional share interests in an NMS security generally have different

rights from full share interests of the same NMS security. Please read

the following information carefully to understand your rights regard-

ing your fractional share interests.

Fractional share positions cannot be transferred or certificated. The

Automated Customer Account Transfer System does not support

fractional share positions. If you want to transfer your account or spe-

cific share positions to another broker, you must sell your fractional

positions and transfer the cash proceeds.

You hereby direct NFS, and NFS hereby agrees, not to vote or take

any discretionary or voluntary action with respect to any fractional

share position. Furthermore, you acknowledge that you cannot vote

or take any discretionary or voluntary action with respect to any frac-

tional share position. Accordingly, while NFS may notify you of issuer

meetings, NFS will not solicit proxies in connection with fractional

share positions, and you cannot vote proxies for fractional share posi-

tions. Fractional shareholders will not be able to provide instruction

in connection with voluntary corporate actions (e.g., tenders), except

for optional dividends; and NFS will not vote proxies for any frac-

tional shares it holds as principal and will not affirmatively participate

in any voluntary corporate actions.

In the case of a dividend paid on, or a redemption of, an NMS secu-

rity, the dividend or redemption proceeds will be passed along to

you in proportion to your ownership interest, inclusive of fractional

share interests. NFS will only support payments that are equal to

or greater than $.01 per share. Amounts smaller than that, or non-

divisible amounts (based on the .001 rounding convention described

above), will be handled in accordance with the process described in

the section titled “Undistributable Interests” below.

Holders of fractional share positions may participate in dividend rein-

vestment programs (“DRIPS”) to the same extent as if they owned a

full share (adjusted for their fractional share interest in the dividend).

In the event that the amount is too small to be reinvested (based on

the .001 rounding convention described above), but large enough

to be distributed as cash (i.e., at least $0.01), it will be paid to you.

Smaller amounts will be handled in accordance with the process

described in the section titled “Undistributable Interests” below.

For mandatory reorganizations, such as mergers and acquisitions,

or other involuntary corporate actions, such as stock splits or stock

dividends, typically NFS will distribute interests in proportion to your

ownership interest, inclusive of fractional share interests. NFS will

distribute interests in fractional amounts to three decimal places.

Amounts smaller than that, or nondivisible amounts, will be han-

dled in accordance with the process described in the section titled

“Undistributable Interests” below. The foregoing notwithstanding,

these situations are in all cases subject to the terms contained in the

materials prepared by the issuer describing the corporate action, as

well as NFS’s applicable policies and procedures, which may result in

a different outcome from what is described herein.

Because of the unpredictable nature of corporate actions, there

may be situations that arise that are not described previously.

Generally, these situations will be handled in accordance with the

concepts applicable to dividends and reorganizations. Interests will

be divided and distributed where possible in proportion to your

ownership interest, and anything that cannot be divided will be han-

dled in accordance with the process described in the section titled

“Undistributable Interests” below. The foregoing notwithstanding,

these situations are in all cases subject to the terms contained in the

materials prepared by the issuer describing the corporate action, as

well as NFS’s applicable policies and procedures, which may result in

a different outcome from what is described above.

Undistributable Interests

NFS will only support payments that are equal to or greater than $.01

per share. Amounts smaller than that, or nondivisible amounts (based

on the .001 rounding convention described above), will not be

distributed. Instead, it is generally but not always the case that when

the aggregate value to be distributed is less than or equal to $1.00,

it will be retained by NFS, and when it exceeds $1.00, it will be

escheated.

Tax Treatment

NFS and you agree to treat you as the owner of all fractional share

interests allocated to your account, to file all tax returns in accor-

dance with such treatment, and to take no action inconsistent with

such treatment.

Additional Considerations

Fractional share positions may be illiquid. NFS does not guarantee

that there will be a market for fractional share positions and makes

no representations or warranties about its ability or willingness to

continue to trade as principal in fractional share quantities.

If your account is closed, your fractional shares may be liquidated

and the proceeds distributed to you as cash.

The fractional share component of certain orders may not be eligible

for “Price Improvement.” Also, Price Improvement will operate differ-

ently, and in some situations less advantageously, in connection with

Fractional Trading from the way it would if you were trading in whole

share quantities. Additionally, because in certain situations Price

Improvement on the fractional share component of an order will

affect the execution price rather than the share quantity of an order,

the effect of the improvement on a dollar-value order in those situa-

tions will be to increase or decrease the value of the order outside of

what was requested.

If your account has been approved for margin, notwithstanding the

terms of the Customer Agreement, Fidelity will not lend (hypothe-

cate) your fractional share positions.

If you hold fractional share positions in your account (these positions

come about for a variety of reasons, such as DRIPs or corporate

actions), it has been Fidelity’s practice to automatically sell these

holdings when you place an order to sell your entire whole share

position (“Auto-liquidate”). The first time you place an order to buy

or sell a security using the Fractional Trading functionality, we will

turn off the Auto-liquidate feature in your account so that going for-

ward, those positions will be handled like any other fractional share

position acquired using Fractional Trading (i.e., you will need to affir-

matively sell those fractional share positions if you wish to sell your

entire position in that security).

Fidelity Stock Plan Services

If you are a participant in equity compensation plans (“Stock Plans”)

and associated equity compensation rights under those Stock Plans

(collectively “Rights”) of your employer (together with its affiliates the

“Issuer”) for which Fidelity Stock Plan Services provides recordkeep-

ing and administrative services (the “Stock Plan Services”), then with

respect to the Stock Plan Services and your individual

brokerage account identified to be used in connection with the Stock

Plan Services, you agree as follows:

• You acknowledge that the terms of the Stock Plans and of your

Rights are determined by the Issuer, and that you have received,

reviewed, and understand the information distributed to you by the

Issuer in connection with such Stock Plans and Rights, including any

applicable prospectus, grant, or enrollment agreement, or other

Stock Plan document (collectively “Plan Documents”).

FIDELITY ACCOUNT CUSTOMER AGREEMENT

• You acknowledge that various federal and state laws or regulations

may be applicable to your transactions, including, without limitation,

Rule 144 under the Securities Act of 1933 and Section 16(b) of the

Securities Exchange Act of 1934, and you agree to conduct these

transactions in conformity with all applicable laws and regulations.

• You acknowledge that your rights and obligations with respect to the

Rights (including, without limitation, quantities, vesting dates, and

expiration dates) are determined under the Plan Documents, and

that if any information provided by Fidelity to you (whether verbally

or in writing) conflicts with the provisions of the Plan Documents, the

information in the Plan Documents will control.

• You acknowledge that certain events may affect your rights and

obligations with respect to the Rights (including, without limitation,

changes in your employment relationship with the Issuer), and that

you are responsible for understanding your rights and obligations

with respect to the Rights.

• You authorize Fidelity to act on your instructions (given in writing, by

telephone, or electronically) with respect to Rights in connection with

the Issuer, including, without limitation, to exercise, purchase shares,

or take other actions with respect to the Rights on your behalf, or to

hold, transfer, or sell shares in your account.

• You authorize and direct Fidelity to act on instructions given on your

behalf by the Issuer to Fidelity with respect to Rights in connection

with the Issuer, including, without limitation, to exercise, to purchase

shares, to take other actions with respect to the Rights on your

behalf, to sell shares in your account, and to transfer shares or funds

from your account to the Issuer or its agent for payments relating to

the Rights, including, without limitation, withholding and exercise or

purchase price for the Rights.

• You understand that your instructions to Fidelity are irrevocable,

except in the case of an unexecuted limit order, which you may

attempt to cancel.

• You authorize the Issuer or its agent to rely without further investiga-

tion on this authorization as conclusive evidence of your irrevocable

election to authorize Fidelity to act on your behalf with respect to

the Rights, including exercising your Rights in accordance with and

subject to the terms, provisions, and conditions of the Issuer’s Stock

Plans and the Plan Documents.

• In connection with certain Stock Plans, you may agree to certain con-

tractual limitations on the shares that you obtain through the Stock

Plan, including, without limitation, contractual restrictions on your

ability to sell securities you obtain in connection with Stock Plans,

and you hereby consent to and authorize Fidelity to take actions

reasonable and necessary to enforce such contractual limitations in

accordance with the Stock Plans and the Plan Documents.

• You authorize Fidelity, the Issuer, and their agents to exchange

information regarding the exercise of your Rights and your purchase

and sale of shares, including, without limitation, notice of exercise,

number of shares, sale date, sale price, and income tax information

relating to compensation income and tax withholding in relation to

these transactions and subsequent sales, transfers, and dispositions

of shares.

• Fidelity reserves the right to reject any order to sell shares in your

account until shares are properly delivered by the Issuer and depos-

ited into your account.

• You authorize the Issuer or its agent to issue shares in connection

with any Rights to Fidelity in street name and to forward the shares

(plus any dividend, split, or similar distribution paid by the Issuer

or its agent with respect to such shares) directly to Fidelity for your

account.

• You acknowledge that the Rights were granted in connection with

your employment and, at the time of exercise, purchase, or other

direction you give to Fidelity, you will be authorized to exercise, pur-

chase, or take such other action.

• You understand that the Rights and/or the subsequent sale of the

shares may have significant tax consequences. You further understand

that Fidelity and its agents and employees are not authorized to give

you tax or investment advice, and you have consulted such other

sources you deem appropriate in connection with your transactions.

• You agree to indemnify Fidelity for any loss we may suffer as a result

of our compliance with the authorizations set forth herein and any

instructions given by you.

Precious Metals

Precious metals are not covered by SIPC account protection, but are

insured by the depository at market value if stored through us. When

trading precious metals, note that because they can experience

sudden and rapid price changes, they are risky as investments, and we

cannot guarantee you an advantageous price when you trade them.

If you take delivery of precious metals, delivery charges, sales and use

taxes, and storage fees will apply.

Closing Your Account

We can close your account, or terminate any optional feature,

at any time, for any reason, and without prior notice. You can close

your account, or terminate any optional feature, by notifying us in

writing or calling us on a recorded line. We may automatically close

accounts with zero balances.

Regardless of how or when your account is closed, you will remain

responsible for all charges, debit items, or other transactions you

initiated or authorized, whether arising before or after termination.

Note that a final disbursement of assets may be delayed until any

remaining issues have been resolved.

If your account has a balance of less than $100 and no account activ-

ity has occurred for a 6-month period, you authorize Fidelity to sell

the securities in the account, send a check for all the proceeds and

any other cash to your address of record, and close your account.

Monitoring Your Account and

Notifying Us of Errors

As an account owner, you are responsible for monitoring your account.

This includes making sure that you are receiving transaction confirma-

tions, account statements, and any other expected communications. It

also includes reviewing these documents to see that information about

your account is accurate and contains nothing suspicious. Please note

that, unless we have otherwise contractually agreed to do so, we do

not have an ongoing responsibility to monitor an investment strategy,

account type, or securities bought, sold, or held in your account, even

in cases where we have made a recommendation.

Note that so long as we send communications to you at the physical or

electronic address of record given on the application, or to any other

address given to us by an authorized person, the communications are

legally presumed to have been delivered, whether you actually received

them or not. In addition, confirmations and statements are legally pre-

sumed to be accurate unless you specifically tell us otherwise.

If you have not received a communication you expected, or if

you have a question or believe you have found an error in any

communication from us, telephone us immediately, then follow up

with written confirmation.

You agree to notify us immediately if:

• you placed an order electronically but did not receive a reference

number for it (an electronic order is not considered received until

we have issued an acknowledgment)

• you received confirmation of an order you did not place, or any

similar conflicting report

• there is any other type of discrepancy or suspicious or unexplained

occurrence relating to your account

• your password or access device is lost or stolen, or you believe

someone has been using it without authorization

If any of these conditions occurs and you fail to notify us immediately,

neither we nor any other Fidelity affiliate will be liable for any con-

sequences. If you do immediately notify us, our liability is limited as

described in this agreement.

With any feature or service that is governed by a separate agreement

(such as a credit card agreement), note that different policies con-

cerning error resolution and liability may apply, as described in the

separate agreement.

If, through any error, you have received property that is not rightfully

yours, you agree to notify us and return the property immediately.

If we identify an error in connection with property you have received

from or through us or a Fidelity affiliate and determine it is not right-

fully yours, you agree that we may take action to correct the error,

which may include returning such property to the rightful owner.

Complying with Applicable Laws

and Regulations

In keeping with federal and state laws, and with securities industry

regulations, you agree to notify us in writing if any of the following

occur (with all terms in quotes defined as being within the meaning

of the Securities Act of 1933):

• if you are, or later become, an employee or other “associated per-

son” of a stock exchange, a member firm of an exchange or the

Financial Industry Regulatory Authority (FINRA), a municipal securi-

ties dealer, or Fidelity or any Fidelity “affiliate”

• if you are, or later become, an “affiliate” or “control person” with

respect to any security held in your account

• if any transactions in your account regarding securities whose

resale, transfer, delivery, or negotiation must be reported under

state or federal laws

You also agree to:

• if you are, or later become, an “associated person” of a member

firm of an exchange or FINRA, that you have obtained consent of

the “employer member,” and you authorize Fidelity upon request by

an employer member to transmit copies of confirmations and state-

ments, or the transactional data contained therein, with respect to all

of your accounts, including all accounts subject to FINRA rules and

unit investment trusts, municipal fund securities, and qualified pro-

grams pursuant to Section 529 of the Internal Revenue Code.

• to ensure that your account transactions comply with all applicable

laws and regulations, understanding that any transaction subject to

special conditions may be delayed until those conditions are met

• to comply with all policies and procedures concerning “restricted”

and “control” securities that we may require

• to comply with any insider trading policies that may apply to you as

an employee or “affiliate” of the issuer of a security

We will assume that any securities or transactions in your account

are not subject to the laws and regulations regarding “restricted” and

“control” securities unless you specifically tell us otherwise.

If you or another individual associated with your account resides out-

side the U.S., Fidelity may at any time in its sole discretion terminate

that relationship, or modify your rights to access any or all account

features, products or services. By opening or maintaining an account

with Fidelity, you acknowledge that Fidelity does not solicit offers to

buy or sell securities, or any other product or service, to any person in

any jurisdiction where such offer, solicitation, purchase or sale would

be unlawful under the laws of such jurisdiction.

Limits to Our Responsibility

Although we strive to ensure the quality and reliability of our services,

including electronic services (such as online, wireless, and automated

telephone services), neither we nor any third party whose services we

arrange for are responsible for the availability, accuracy, timeliness,

completeness, or security of any service related to your account.

You therefore agree that we are not responsible for any losses you

incur (meaning claims, damages, actions, demands, investment

losses, or other losses, as well as any costs, charges, attorneys’ fees,

or other fees and expenses) as a result of any of the following:

• the acceptance and processing of any order placed on your

account, whether received electronically or through other means, as

long as the order reasonably appears to be authentic

• cancellation of an accepted/executed trade in which Fidelity rea-

sonably determines, in its sole discretion, that there was a data,

clerical or other similar error in the handling or processing of the

trade, including but not limited to situations where a third-party

caused such error

• cancellation of an accepted/executed trade when dealers and/

or contra-parties notify Fidelity that they are unable to deliver the

bonds because the order was filled in error

• investment decisions or instructions placed on your account, or

other such actions attributable to you or any authorized person

• occurrences related to governments or markets, such as restrictions,

suspensions of trading, or high market volatility or trading volumes

• uncontrollable circumstances in the world at large, such as wars,

earthquakes, power outages, or unusual weather conditions

• occurrences related to computers and communications, such

as a network or systems failure, a message interception, or an

instance of unauthorized access or breach of security

• with respect to electronically provided market data or other informa-

tion provided by third parties, any flaw in the timing, transmission,

receipt, or substance (such as any inaccuracy, error, delay, omission,

or sequence error, any nonperformance, or any interruption of infor-

mation), regardless of who or what has caused it to occur

• the storage and use of information about you and your account(s)

by our systems and transmission of this information between you

and us; these activities occur entirely at your risk

• the usage of information received by you or us through any

electronic services

• telephone requests for redemptions, so long as we transmit the

proceeds to you or the bank account number identified

• difficulties receiving information or accessing your account that are

due to the equipment you use, including difficulties resulting from

technical incompatibilities, malfunctions, inherent limitations, or

interruptions in service

• any checks or other debits to your account that are not honored

because the account has insufficient funds

If any service failure is determined to be our responsibility, we will be

liable only for whatever benefit you would have realized up to the time

by which you should have notified us, as specified earlier in “Monitoring

Your Account and Notifying Us of Errors.” Fidelity reserves the right to

restrict your account from withdrawals and/or trades if there is a reason-

able suspicion of fraud, diminished capacity, or inappropriate activity.

Fidelity also reserves the right to restrict your account from withdrawals

and/or trades if Fidelity is put on reasonable notice that the ownership

of some or all of the assets in the account is in dispute.

Indemnification

You agree to indemnify us from, and hold us harmless for, any losses

(as defined in “Limits to our Responsibility”) resulting from your

actions or failures to act, whether intentional or not, including losses

resulting from actions taken by third parties.

If you use any third-party services or devices in connection with your

account (such as Internet service or wireless devices), all service agree-

ments and payments for these are your responsibility. Rates and terms

are set by the service providers and are not Fidelity’s responsibility.

Note that beyond taking reasonable steps to verify the authenticity

of instructions, we have no obligation to inquire into the purpose,

wisdom, or propriety of any instruction we receive.

Terms Concerning This Agreement

Applicability

This agreement is the only agreement between you and us concern-

ing its subject matter, and covers all accounts that you, at whatever

time, open, reopen, or have opened with us. In addition, if you

have already entered into any agreements concerning services or

features that relate to this account (such as the usage agreement

for Fidelity.com), or if you do so in the future, this agreement incor-

porates by reference the terms, conditions, and policies of those

agreements. In the case of any conflict between this agreement and

an agreement for a particular service or feature, the service or fea-

ture agreement will prevail.

FIDELITY ACCOUNT CUSTOMER AGREEMENT

Governing Laws and Policies

This agreement and its enforcement are governed by the laws of

the Commonwealth of Massachusetts, except with respect to its

conflicts-of-law provisions.

All transactions through Fidelity are subject to the rules and customs

of the marketplace where they are executed, as well as applicable

state and federal laws. In addition, the services below are subject to

the following laws and policies:

• Securities trades: any Fidelity trading policies and limitations that

are in effect at the time

• Online services: the license or usage terms posted online

• Checkwriting: the applicable provisions of the Uniform Commer cial

Code and the terms governing the service

Modification and Enforcement

We may amend or terminate this agreement at any time. This may

include changing, dropping, or adding fees and policies, changing

features and services or the entities that provide them (such as the

bank that provides clearing services for checkwriting), and limiting

the usage or availability of any feature or service, within the lim-

its of applicable laws and regulations. Although it is our policy to

send notice to account owners of any material changes, we are not

obligated to do so in most cases. Outside of changes originating

in these ways, no provision of this agreement can be amended or

waived except in writing by an authorized representative of Fidelity.

Fidelity may transfer its interests in this account or agreement to

any of its successors and assigns, whether by merger, consolidation,

or otherwise. You may not transfer your interests in your account

or agreement (including de facto transferal by giving a nonowner

access to the account using a password) except with the prior written

approval of Fidelity, or through inheritance, corporate dissolution, or

similar circumstance, as allowed by law, in which case any rights and

obligations in existence at the time will accrue to, and be binding on,

your heirs, executors, administrators, successors, or assigns.

We may enforce this agreement against any and all account owners.

In addition, any securities exchanges or associations that provide

information to you through your account may enforce the terms of

this agreement directly against you. Although we may not always

enforce certain provisions of this agreement, we retain our full right

to do so at any time.

If any provision of this agreement is found to be in conflict with

applicable laws, rules, or regulations, either present or future, that

provision will be enforced to the maximum extent allowable, or made

to conform, as the case may be. However, the remainder of this

agreement will remain fully in effect.

Fidelity may use the electronically stored copy of your (or your

agent’s) signature, any written instructions or authorizations, the

account application and this agreement as the true, complete, valid,

authentic and enforceable record, admissible in judicial, admin-

istrative or arbitration proceedings to the same extent as if the

documents and records were originally generated and maintained in

printed form. You agree to not contest the admissibility or enforce-

ability of the electronically stored copies of such documents in any

proceeding between you and Fidelity.

Borrowing on Margin

While margin can be a beneficial tool for investors, it involves signif-

icant risks (see the box “Important Information about Margin and Its

Risks”) and is not suitable for all investors. Margin is not available on

retirement accounts.

If your account is approved for margin, you agree that all margin-

able assets will be held in a margin account, unless you tell us to

the contrary (precious metals are not marginable). The Intra-day and

After-hours Free Credit Balance, money in the core account, and

any cash dividends paid on marginable securities, are automatically

applied to your margin debt, unless you tell us otherwise.

When you borrow on margin, you agree to maintain the level of mar-

gin collateral we require (which we may change in our sole

discretion at any time without prior notice).

Should we believe it necessary to protect our interests, we may take

any or all of the following steps at any time without prior notice:

• sell assets, or contracts relating to these, that are in your account

• buy assets, or contracts relating to these, of which your account or

accounts may be short, in order to close out in whole or in part any

commitment on your behalf

• place stop orders with respect to these securities

How and when we can take these steps:

• at any time, during regular market hours or otherwise

• for any cause, including but not limited to:

• if the value of your account equity falls

• if you fail to meet — or indicate that you intend to fail to meet — any

call for additional collateral

• high market volatility

• an account owner’s death or petition for bankruptcy

• an attachment or court order

• any other situation which, in Fidelity’s sole discretion,

believes such action is warranted to prevent the account

from going deficit

• with or without notifying you that a call is due and even if you have

notified Fidelity that you will be providing additional

collateral for your Account

We may sell your securities or other assets without contacting you.

Some investors mistakenly believe that Fidelity must contact them for

a margin call to be valid, and that Fidelity cannot liquidate securities or

other assets in their accounts unless Fidelity has contacted them first.

This is not the case. Fidelity may attempt to notify you of margin calls,

but is not required to do so. In addition, even if Fidelity has contacted

you and provided a specific date by which you can meet a margin call,

Fidelity can still take the necessary steps to protect its financial interest

prior to that date, including immediately selling the securities without

notice to you. You understand that if Fidelity contacts you in advance

in certain instances, Fidelity is not obligated to do so and such action

will not be deemed a waiver of Fidelity’s rights under this agreement.

In addition, short positions are subject to buy-in at any time and you

bear sole responsibility for the buy-in price.

You understand and agree that you are responsible for any losses in

your account that may arise as a result of the actions outlined above.

Note that property in a margin account may be pledged or

repledged, hypothecated (loaned) or rehypothecated, either sep-

arately or in com mon with any other property, for as much as your

obligation to us or more, without our having to retain a like amount

of similar property in our control for delivery. Also, we may at any

time, and without notice to you, transfer any property between any

of your accounts, whether individual or joint, or from any of your

accounts to any account you guarantee. As permitted by law, we may

use certain securities for, among other things, settling short sales and

lending securities for short sales and as a result may receive compen-

sation in connection therewith.

Additional terms concerning margin appear elsewhere in this

agreement under “Your Commitments to Fidelity,” “Optional

Features,” “Account Usage,” and “Service Providers,” under “Fees”

in the Additional Information section, and in the section entitled

“Important Information about Margin and Its Risks.”

Disclosures

Credit-Related Information

For the name and address of any credit reporting agency from

whom we or a third-party service provider has obtained information

about you, send a written request to us or the service provider,

as applicable.

If you apply for a debit or credit card, we may share information

about you and other card applicants with card issuers, which are

not affiliated with Fidelity. If you don’t want a third-party service

provider to share information about you with other entities in turn,

it is your responsibility to inform the card issuer of this.

FIDELITY ACCOUNT CUSTOMER AGREEMENT

Consumer Reporting Agencies

We may report information about your account to credit bureaus.

Late payments, missed payments, or other defaults on your account

may be reflected in your credit report.

We may also provide information about you and your account as well

as the activity in your account to one or more consumer reporting

agencies. If you believe that information Fidelity has provided about

you or your account or the activity in your account is not accurate,

you may notify us at:

Fidelity Investments

Attn: Customer Data Disputes

P.O. Box 770001

Cincinnati, OH 45277-0045

In order for us to investigate any dispute that you may submit to us

with respect to information that we have provided, please provide us

with the following information:

(1) Your name, address, and account number;

(2) An identification of the specific information that you believe is not

accurate; and

(3) An explanation of the basis for your dispute.

Service Providers

Brokerage account and margin credit services are provided by NFS,

an affiliate of FBS. Bonds may be traded through NFS (which may

choose to act as principal or agent) or through external dealers.

Services available through this account are the property of Fidelity

or the third parties from which Fidelity has obtained rights. Market

data provided by national securities exchanges or associations

remain the property of those entities.

Routing of Orders

FBS routes most customer orders to its affiliated broker-dealer, NFS,

which in turn sends orders to various exchanges or market centers

for execution. In deciding where to send an order, NFS looks at a

number of factors, such as size of order, trading characteristics of the

security, favorable execution prices (including the opportunity for

price improvement), access to reliable market data, availability of effi-

cient automated transaction processing, and execution cost. Some

market centers may execute orders at prices superior to the publicly

quoted market. Although you can instruct us to send an order to a

particular marketplace, our order-routing policies are designed to

result in transaction processing that is favorable for you. NFS reserves

the right to wait for the primary exchange to open before commenc-

ing trading in a particular security.

Conflicts of Interest and Compensation

Fidelity and its affiliates receive fees for providing certain products

and services. Below is a partial list of affiliates and the services they

are paid for:

• Fidelity Management & Research Company — fee for serving as an

investment advisor to the Fidelity funds.

• FBS and/or NFS — receives remuneration, compensation, or other

consideration (such as financial credits or reciprocal business) for

directing orders in certain securities to particular broker-dealers or

market centers for execution. In addition to sales loads and 12b-1

fees described in the prospectus, FBS and/or NFS receives other

compensation in connection with the purchase of certain mutual

fund shares and/or the ongoing maintenance of those positions in

your brokerage account. This additional compensation may be paid

by the mutual fund, its investment advisor, or one of its affiliates.

FBS, NFS, or their affiliates may receive compensation in connection

with the purchase and/or ongoing maintenance of positions in

certain mutual funds in your account. FBS, NFS, or their affiliates may

also receive compensation for such things as systems development

necessary to establish a fund on their systems, a fund’s attendance at

events for FBS’ clients, and/or representatives and opportunities for

the fund to promote its products and services. This compensation

may take the form of sales loads and 12b-1 fees described in

the prospectus; marketing, engagement and analytics program

participation fees; maintenance fees; start-up fees; and infrastructure

support paid by the fund, its investment advisor, or an affiliate.

Information about the source(s) and amount(s) of compensation as

well as other remuneration received by FBS and/or NFS and other

affiliates is also more fully described in the FBS Form CRS and the

Products, Services, and Conflicts of Interest disclosure document,

available online at Fidelity.com/Reg-BI-Disclosure and information

about the foregoing is also available upon written request.

Warranty Disclaimer

Neither we nor any third party makes any representations or

warranties express or implied, including, without limitation, any

implied warranties of merchantability or fitness for a particular

purpose in respect of any services provided in connection with

this account, or any information programs or products obtained

from, through, or in connection with these services. In no event

will we or any third party be liable for direct, indirect, incidental,

or consequential damages resulting from any defect in or use of

these services.

Money Market Fund Investments

You could lose money by investing in a money market fund.

Although the fund seeks to preserve the value of your invest-

ment at $1.00 per share, it cannot guarantee it will do so. An

investment in the fund is not insured or guaranteed by the

Federal Deposit Insurance Corporation or any other government

agency. Fidelity Investments and its affiliates, the fund’s sponsor,

have no legal obligation to provide financial support to money

market funds and you should not expect that the sponsor will

provide financial support to the fund at any time.

Redemption Features/Callable Securities

Lottery

Certain debt securities may have redemption features in addition

to those disclosed on the trade confirmation including, for exam-

ple, special mandatory redemption features such as sinking funds

provisions. It is the customer’s obligation to review all disclosure doc-

uments the customer may receive, and to understand the risks of calls

or early redemptions, which may affect yield. Issuers may, from time

to time, publish notices of offers to redeem callable securities within

limited time, price, and tender parameters. NFS is not obligated to

notify customers of such published calls. Information about whether

a municipal security is callable can be accessed via the Municipal

Securities Rulemaking Board’s Electronic Municipal Market Access

(“EMMA”) website (www.emma.msrb.org).

When street name or bearer securities held for you are subject to a

partial call or partial redemption by the issuer, NFS may or may not

receive an allocation of called/redeemed securities by the issuer,

transfer agent, and/or depository. If NFS is allocated a portion of the

called/redeemed securities, NFS utilizes an impartial lottery allocation

system, in accordance with applicable rules, that randomly selects

the securities within customer accounts that will be called/redeemed.

NFS’ allocations are not made on a pro rata basis and it is possible

for you to receive a full or partial allocation, or no allocation. You

have the right to withdraw uncalled fully paid securities at any time

prior to the cutoff date and time established by the issuer, transfer

agent, and/or depository with respect to the partial call, and also

to withdraw excess margin securities, provided your account is not

subject to restriction under the Federal Reserve’s Regulation T or

such withdrawal will not cause an undermargined condition. If you

have bought or sold a security, and prior to the settlement of your

trade, the issuer initiates a call of the security, NFS reserves the right

to cancel your trade. Customers are responsible for covering any out-

standing short positions, as well as any other resulting costs in their

account, that result from the lottery.

For more information and an example of the impartial lottery

process, please go to: http://personal.fidelity.com/products/

fixedincome/FI_Common_Risk.shtml.

Residents of Louisiana

If you are opening a joint account in Louisiana, you should be aware

that Louisiana does not recognize certain types of joint account

registrations. As a result, Fidelity will only establish a joint account

when directed by you to do so and only when you direct Fidelity to

establish such account as tenants in common. In connection with

your direction to establish this type of joint account, each account

owner expressly and irrevocably renounces the right to concur in the

disposition or alienation of the account by the other account owner

for the entire time the account is open, or the longest term allowed

by applicable law.

Texas House Bill 1454 “Designated

Representative”

For Texas residents (or those using a Texas address as a legal

address), under Texas House Bill 1454 Act No. 350, you, as an

account owner of shares of a mutual fund, may designate a represen-

tative for the purpose of receiving a due diligence notice; however,

you are not required to designate a representative. If you add a des-

ignated representative, you acknowledge that:

• Fidelity is required to mail written notice to the representative, in

addition to mailing the notice to the owner, upon presumption of

abandonment of the account.

• The designated representative does not have any rights to the

mutual fund shares and may not access the shares.

The process by which you select a designated representative is done

through a written form, which may be accessed online or requested

by phone.

Wisconsin Marital Property Act

Married Wisconsin residents should be aware that no provision of any

marital property agreement, unilateral agreement, or court decree

under Wisconsin’s Marital Property Act will adversely affect a credi-

tor’s interest unless, prior to the time credit is granted, the creditor is

furnished a copy of, or given complete information about, that agree-

ment or decree.

Residing Outside the United States

If we determine that you reside outside the United States, you will

be subject to certain limitations. While we generally make this

determination by looking at the address information on our books

and records (including the addresses maintained by the account

owner and certain individuals with control over the account), we

reserve the right to consider other information when making this

determination and/or subjecting you to these limitations.

Generally speaking, regardless of where you reside, you will be sub-

ject to certain limitations. These include, but are not limited to, the

following: (i) we will provide you with only ministerial or administrative

services, which means that, among other things, our representatives

will not engage in discussions with you about such topics as asset

allocation, income planning, or portfolio composition; and (ii) you will

not be permitted to purchase additional shares of any U.S. mutual

fund (except pursuant to a dividend reinvestment program or in other

limited circumstances), which among other things will affect the oper-

ation of your core account (please refer to the Core Account section

of this Agreement for further details).

In addition to the foregoing, depending on where you reside, you

may be subject to additional restrictions (for example, margin lend-

ing or options trading may not be permitted) up to and including

restrictions that will prevent you from making additional deposits or

purchasing additional securities positions (i.e., you will be prohibited

from doing anything in your account other than selling your existing

holdings and withdrawing the proceeds).

Notwithstanding the above, special rules govern your relationship

with us if you live in Canada. Because of this, and because every

situation is unique, you should contact Fidelity if you have questions

about how you may be affected. If you notify us that you do not

reside outside the U.S., these limitations may be lifted.

Unclaimed Property

Your account balance and certain uncashed checks issued from your

account may be transferred to a state unclaimed property admin-

istrator if no activity occurs in the account or the check remains

outstanding within the time period specified by the

applicable state law.

FINRA BrokerCheck

As part of the Financial Industry Regulatory Authority (FINRA)

BrokerCheck program, you have access to the FINRA BrokerCheck

hotline at 800-289-9999 and the FINRA website at finra.org. You can

call or email your inquiries and request a brochure that includes infor-

mation detailing the BrokerCheck program.

MSRB Investor Brochure

Fidelity Brokerage Services LLC is registered with the U.S. Securities

and Exchange Commission (SEC) and the Municipal Securities

Rulemaking Board (MSRB). An investor brochure may be obtained

at msrb.org that describes the protections that may be provided by

the MSRB and how to file a complaint with an appropriate regula-

tory authority.

FIDELITY ACCOUNT CUSTOMER AGREEMENT

Important Information about Using Margin and Its Risks

When you buy securities in your account,

you may pay for them in full or you may

borrow part of the purchase price from us,

using a margin account. In addition, hav-

ing margin on your account allows you to

establish a short position.

When you borrow on margin, the securities

in your account become our collateral for

the loan to you. A decline in the value of

these securities is therefore a decline in the

value of the collateral. We can respond in a

variety of ways, as described below.

Before you make use of margin in any

way, it’s essential to fully understand

the risks involved. These risks include:

You can lose more money than you

deposited in your margin account. If

securities you bought on margin go down

in price, you may face a “margin call,”

meaning you have to deposit more money

or marginable securities.

Fidelity can set stricter margin require-

ments than the industry minimum, and

can increase these “house” require-

ments in its sole discretion without

advance notice. An increase may take

effect immediately and may trigger a main-

tenance margin call without prior notice.

If you cannot meet a margin call,

Fidelity can force the sale of assets

in your account(s). If the equity in your

account falls below either industry min-

imums or Fidelity’s house requirements,

Fidelity can cover the deficiency by selling

securities or other assets in any account

of yours at Fidelity (including accounts at

other Fidelity affiliates) without prior notice.

If these assets are insufficient, you will be

responsible for making up any shortfall,

and potentially for paying Fidelity’s costs

for collecting the shortfall as well.

Fidelity can sell assets in your account

without contacting you. While Fidelity

generally attempts to notify customers of

margin calls, it is not required to do so.

Even if you are notified, Fidelity can still

sell assets before the time indicated in

the notice, if it believes such action is war-

ranted. You understand that if we contact

you in advance in certain instances, we are

not obligated to do so and such action

will not be deemed a waiver of our rights

under this agreement.

You are not entitled to choose which

securities are sold to meet a margin

call. Because your accounts form Fidelity’s

collateral for its loan to you, the choice of

what to sell is Fidelity’s.

You are not entitled to a time exten-

sion on a margin call. While Fidelity

may grant you an extension, it is not

required to do so. Granting an extension

on a margin call does not waive Fidelity’s

right to decline to grant an extension in

the future.

Short selling is a margin account trans-

action and not only entails the same

risks as described above, but also

entails additional risks. Short selling

allows you to integrate a number of

different strategies into your investment

approach so that you may potentially

profit from downward moves in a partic-

ular stock. However, if the price of the

security that you have sold short goes

up, you may incur a loss and that loss

may be unlimited. In addition, you may

be charged a short interest fee on the

securities that you have borrowed to

sell short and those fees may change,

sometimes significantly, without warn-

ing. All short sale orders are subject to

the availability of the stock being sold,

which must be confirmed by Fidelity

prior to the order being entered. Fidelity

can use your account to buy securities to

cover a short position without contacting

you. If you don’t have sufficient assets,

you are responsible for the shortfall and

collection costs.

Fidelity can loan out (to itself or others)

the securities that collateralize your

margin borrowing. If it does, you may

not be entitled to receive, with respect

to securities that are lent, certain benefits

that normally accrue to a securities owner,

such as the ability to exercise voting rights,

or to receive interest, dividends, or other

distributions. Although you may receive

substitute payments in lieu of distribu-

tions, these payments may not receive

the same tax treatment as actual interest,

dividends, or other distributions, and you

may therefore incur additional tax liability

for substitute payments. Fidelity may allo-

cate substitute payments by lottery or in

any other manner permitted by law, rule, or

regulation. Please note that any substitute

payments Fidelity makes are voluntary, and

may be discontinued at any time.

In addition to market volatility, factors

specific to your portfolio, such as

concentration, liquidity, and market-

ability of securities, may increase the

risk of a margin call. Use of features

such as checkwriting, debit cards, and

bill payment services may also increase

the risk of a margin call.

In the absence of (i) an Intra-day and After-

hours Free Credit Balance, (ii) money in the

core account, (iii) shares of certain Fidelity

money market funds held as positions

outside the core account, or (iv) cash

dividends paid on marginable securities,

any debits that are posted to your account

will drive up your margin balance.

Be sure to read the margin account

policies in “Borrowing on Margin” within

this customer agreement. If you have any

questions or concerns about your margin

account or margin generally, please

contact Fidelity.

By applying for a margin account, you

acknowledge that you have independently

analyzed the risks of short selling as an

investment strategy, and understand that

Fidelity does not recommend or solicit

the purchase of short sale orders. To the

extent you will have or have had commu-

nications with any Fidelity representatives

about short selling, you agree that you

are not relying on those communications

as recommendations or solicitations; that

you are not relying today and will not rely

in the future on Fidelity to monitor your

investments in short sales nor advise you

concerning them; and that you have not

and will not rely on Fidelity or any Fidelity

representative for advice, information, or

recommendations regarding short selling

strategies or their suitability for you.

This agreement contains a pre-dispute

arbitration clause. Under this clause,

which you agree to when you sign your

account application, you and Fidelity

agree as follows:

A. All parties to this agreement are giving

up the right to sue each other in court,

including the right to a trial by jury,

except as provided by the rules of

the arbitration forum in which a claim

is filed.

B. Arbitration awards are generally final

and binding; a party’s ability to have a

court reverse or modify an arbitration

award is very limited.

C. The ability of the parties to obtain doc-

uments, witness statements, and other

discovery is generally more limited in

arbitration than in court proceedings.

D. The arbitrators do not have to explain

the reason(s) for their award unless, in

an eligible case, a joint request for an

explained decision has been submitted

by all parties to the panel at least

20 days prior to the first scheduled

hearing date.

E. The panel of arbitrators may include a

minority of arbitrators who were or are

affiliated with the securities industry.

F. The rules of some arbitration forums

may impose time limits for bringing

a claim in arbitration. In some cases,

a claim that is ineligible for arbitration

may be brought in court.

G. The rules of the arbitration forum

in which the claim is filed, and any

amendments thereto, shall be incor-

porated into this agreement.

All controversies that may arise

between you and us concerning any

subject matter, issue or circumstance

whatsoever (including, but not lim-

ited to, controversies concerning any

account, order, distribution, rollover,

advice interaction, or transaction,

or the continuation, performance,

interpretation or breach of this or

any other agreement between you

and us, whether entered into or aris-

ing before, on or after the date this

account is opened) shall be deter-

mined by arbitration through the

Financial Industry Regulatory Authority

(FINRA) or any United States securities

self-regulatory organization or United

States securities exchange of which

the person, entity or entities against

whom the claim is made is a member,

as you may designate. If you com-

mence arbitration through a United

States self-regulatory organization

or United States securities exchange

and the rules of that organization or

exchange fail to be applied for any

reason, then you shall commence arbi-

tration with any other United States

securities self-regulatory organization

or United States securities exchange

of which the person, entity or entities

against whom the claim is made is

a member. If you do not notify us in

writing of your designation within five

(5) days after such failure or after you

receive from us a written demand for

arbitration, then you authorize us to

make such designation on your behalf.

The commencement of arbitration

through a particular self-regulatory

organization or securities exchange is

not integral to the underlying agree-

ment to arbitrate. You understand that

judgment upon any arbitration award

may be entered in any court of com-

petent jurisdiction.

No person shall bring a putative or

certified class action to arbitration, nor

seek to enforce any predispute arbitra-

tion agreement against any person who

has initiated in court a putative class

action; or who is a member of a puta-

tive class action who has not opted out

of the class with respect to any claims

encompassed by the putative class

action until: (i) the class certification is

denied; or (ii) the class is decertified; or

(iii) the customer is excluded from the

class by the court. Such forbearance to

enforce an agreement to arbitrate shall

not constitute a waiver of any rights

under this agreement except to the

extent stated herein.

Resolving Disputes — Arbitration

459480.30.0 FA-CUSTOM-0620

1.828130.132

900 Salem Street, Smithfield, RI 02917

Fidelity Brokerage Services LLC and National Financial Services LLC, Members NYSE, SIPC

Fidelity Brokerage Services LLC

PRODUCTS, SERVICES, AND CONFLICTS OF INTEREST

This important disclosure information about Fidelity Brokerage Services LLC (“FBS”) is provided to comply with the federal securities laws.

It does not create or modify any agreement, relationship, or obligation between you and FBS (or your ﬁnancial intermediary). Please consult

your account agreement with us and other related documentation for the terms and conditions that govern your relationship with us. This

information does not amend or supersede any of your existing agreements with us.

Introduction

This document provides retail customers (referred to as “you” or “your”) with important information regarding your relationship with

FBS (referred to as “we,” “us,” or “our”), a broker-dealer registered with the U.S. Securities and Exchange Commission (“SEC”), and

a member of the Financial Industry Regulatory Authority (“FINRA”), the New York Stock Exchange (“NYSE”), and Securities Investor

Protection Corporation (“SIPC”). Within this document, you will ﬁnd information regarding the products and services FBS offers, including

their material limitations and risks. In addition, this document describes the conﬂicts of interest that arise in FBS’ business, including those

conﬂicts that arise from compensation received by FBS, its afﬁliates, and its registered representatives (“Representatives”), and how we

address those conﬂicts.

FBS offers brokerage accounts and services for personal investing, including retail, retirement (such as Individual Retirement Accounts

[“IRAs”]) and cash management services (credit and debit cards, checkwriting, etc.). These accounts generally allow you to invest in

mutual funds, exchange-traded funds, stocks, bonds, options, college savings plans, insurance products, and more. FBS brokerage

accounts also may be available to you through a workplace retirement plan serviced by Fidelity Workplace Services, and the available

investment options and services are determined by your plan’s sponsor. FBS works with its afﬁliated clearing broker, National Financial

Services LLC (“NFS”), along with other afﬁliates, to provide you with these brokerage accounts and services.

When providing brokerage services to you, FBS is required to:

• Have reasonable grounds to believe that any security, investment strategy, or account type that we speciﬁcally recommend to

you is in your best interest after taking into account factors relevant to your personal circumstances, such as your age, other

investments, ﬁnancial situation and needs, tax status, investment objectives, investment experience, investment time horizon,

liquidity needs, risk tolerance, and other ﬁnancial information you have disclosed to us (your “Investment Proﬁle”) and the cost

associated with our recommendation, (this is our “best interest obligation”);

• Ensure that your trades are executed with diligence and competence and seek to provide best execution in light of prevailing

market conditions;

• Treat you in a manner consistent with principles of fair dealing and high standards of honesty and integrity; and

• Not be obligated to provide recommendations to you, or to update recommendations made previously, and not doing so should

not be viewed as a recommendation to hold an investment.

Your FBS brokerage account (“FBS Account”) is self directed. This means that you or someone you designate are solely

responsible for deciding whether and how to invest in the securities, strategies, products, and services offered by FBS. You or

your designee are also solely responsible for the ongoing review and monitoring of the investments held in your FBS Account,

even if FBS has made a recommendation to you. It is important you understand that, unless speciﬁcally agreed to in writing, FBS

will not monitor any investment recommendation made to you or the investments held in your Account. You are responsible for

independently ensuring that the investments in your FBS Account remain appropriate given your Investment Proﬁle.

There is no minimum investment to open an FBS Account, but there are minimums to purchase some types of investments. All

transaction charges will be identiﬁed to you in the conﬁrmation of a transaction and/or in the account statement FBS sends to you on

a periodic basis. Please see the FBS Account Customer Agreement (“Customer Agreement”) and the FBS Brokerage Commission and

Fee Schedule (“Schedule”) for information regarding the transaction fees and other charges that apply to your FBS account, including

trade execution, clearing, and other services provided by our afﬁliate, NFS, as well as the terms and conditions applicable to your FBS’

Account, which can be found at Fidelity.com/information.

• FBS Accounts and Intermediaries: You may have an FBS Account in connection with services provided by an investment

advisor afﬁliated with FBS including Fidelity Personal and Workplace Advisors LLC (“FPWA”) or a third party, such as a registered

investment advisor, retirement plan administrator, bank, or family ofﬁce (collectively referred to as an “Intermediary” or

“Intermediary Accounts”). While FBS and its afﬁliates provide services to Intermediary Accounts, FBS generally

does not provide recommendations to Intermediary Accounts and does not monitor Intermediary Accounts or the

investments held therein. Your Intermediary may offer different investment services and products from those offered by FBS.

Please contact your Intermediary for more information on the services offered, conﬂicts of interest, and the fees you will pay.

How We Recommend Investments

FBS provides various tools and methodologies to help you choose your investments, investment strategies, and accounts. FBS

Representatives use these tools and methodologies when working with you. In addition, many of these tools are available to you

directly on our websites and mobile applications. FBS tools and methodologies use information you provide about your ﬁnancial

goals, investment objectives, and ﬁnancial situation. When developing a recommendation that is in your best interest, we consider your

Investment Proﬁle as well as the potential risks, rewards, and costs associated with the investment, strategy or account recommendation.

Please note that when making recommendations to you we only recommend from among certain products and services that we

offer. Although cost is a factor we consider in making recommendations to you, it is only one of several factors. As a result, we do not

necessarily recommend the lowest-cost investment option, and lower-cost alternatives might be available with similar or different risk and

return characteristics. We are not obligated to provide recommendations to you, or to update recommendations previously made, and

not doing so should not be viewed as a recommendation to hold any investment.

Retirement and Other Tax-Advantaged Accounts

We offer a variety of retirement and other tax-advantaged accounts (including IRAs, 401(k) plan accounts, Health Savings Accounts

[“HSAs”], and other similar accounts, collectively “Retirement Accounts”). While we have a best interest obligation when we provide

a recommendation to a retirement account, unless we agree in writing, we are not a ﬁduciary as deﬁned by the Employee Retirement

Income Security Act (ERISA) or Internal Revenue Code, and any recommendations we provide should not be relied on as a primary basis

for investment decisions made in your retirement accounts.

Conﬂicts of Interest

Conﬂicts of interest arise because we offer a variety of products and services. The products and services we offer have different costs

to you and different levels of compensation earned by us, our afﬁliates, and our Representatives. Generally, FBS and our afﬁliates earn

more compensation when you select a product or service offered by us or one of our afﬁliates (i.e., a “proprietary” product or service),

as compared to a product or service offered by a third party. As a result, FBS has a ﬁnancial incentive to recommend certain accounts,

products, and services, including those that are proprietary, over others when working with you. Most FBS Representatives receive

variable compensation based on the type of product or service you select, but FBS Representatives’ compensation is not affected by

whether you purchase a proprietary product or service or a similar third-party product or service offered through us.

We seek to address these conﬂicts in multiple ways. For example:

• We primarily use standardized methodologies and tools to provide advice so that recommendations made for your FBS account

are in your best interest, based on your needs and ﬁnancial circumstances.

• We train, compensate, and supervise FBS Representatives appropriately to provide you with the best client experience, which

includes offering products and services that are in your best interest based on your ﬁnancial situation and needs. As described

in the “How We Pay Our Representatives” section below, products and services that require more time and engagement with

a customer and/or that are more complex or require special training or licensing typically provide greater compensation to

a Representative. Based on these neutral factors, the compensation received by a Representative in connection with certain

products and services offered by us or our afﬁliates, including certain investment advisory programs offered through our

investment advisor afﬁliate FPWA, is greater than the compensation Representatives receive for other products and services that

we offer.

• We disclose information to you about any important conﬂicts of interest that are associated with a recommendation in advance of

providing you with a recommendation so that you can make informed decisions.

How We Pay Our Representatives

• FBS takes customer relationships very seriously and has processes in place to help ensure that the products and services you select

are in your best interest and that you receive the standard of care and attention you deserve. FBS Representative compensation is

designed to ensure that our Representatives are motivated and compensated appropriately to provide you with the best possible

service, including products and services that are appropriately based on your needs. This section generally describes how we

compensate FBS Representatives. Speciﬁc FBS Representative compensation with respect to the products and services we offer is

described in the “Investment Products and Services” section below.

• Most FBS Representatives are eligible to receive some amount of variable compensation in addition to their base pay. Certain

Representatives receive variable compensation that is impacted by the type of product or service you select. These compensation

differentials are based on the relative time required to become proﬁcient enough, including receiving and maintaining additional

licensing, as applicable, to be able to recommend more complex products and services to you (for example, insurance

products or investment advisory services offered by our afﬁliates FILI and FPWA, as compared to the relative time required

to become proﬁcient enough to recommend a money market fund). More complex products and services typically provide

greater compensation to our Representatives, FBS, and/or our afﬁliates. Although we believe that it is fair to compensate our

Representatives based on the time involved with the sale of more complex products, this compensation structure creates a

ﬁnancial incentive for Representatives to recommend these products and services over others. FBS addresses these conﬂicts of

interest by training and supervising our Representatives to make recommendations that are in your best interest and by disclosing

these conﬂicts so that you can consider them when making your ﬁnancial decisions.

• For additional information about FBS Representative compensation, please see Fidelity.com/information.

Investment Products and Services Offered by FBS

General Investment Risks

All investments involve risk of ﬁnancial loss, and there is no guarantee that you will reach your investment goals. Historically, investments

with a higher return potential also have a greater risk potential. Events that disrupt global economies and ﬁnancial markets, such as war, acts

of terrorism, the spread of infectious illness or other public health issues, and recessions, can magnify an investment’s inherent risks.

The general risks of investing in speciﬁc products and services offered by FBS are described below. Detailed information regarding a

speciﬁc investment’s risks is also provided in other disclosure and legal documents we make available to you, including prospectuses,

term sheets, offering circulars, and offering memoranda. As stated previously, you are responsible for deciding whether and how to

invest in the securities, strategies, products, and services offered by FBS. You should carefully consider your investment objectives and

the risks, fees, expenses, and other charges associated with an investment product or service before making an investment decision. The

investments held in your Account (except for certiﬁcates of deposit [“CDs”] or a Federal Deposit Insurance Corporation [“FDIC”] insured

deposit account bank sweep) are not deposits in a bank and are not insured or guaranteed by the FDIC or any other government agency.

Fees and Charges

Details regarding the fees, charges, and commissions associated with the investment products and services described below are available

at Fidelity.com/information.

Available Securities

This section generally describes the securities offered by FBS, the fees you will pay, how we and/or our afﬁliates are compensated, the

associated risks and Representative compensation. If you are investing through your workplace retirement plan, the securities available to

you may be limited by your plan sponsor.

Bonds, Municipal Securities, Treasuries, and Other Fixed Income Securities

FBS offers ﬁxed income securities including, among others, corporate bonds, U.S. Treasuries, agency and municipal bonds, and CDs. You

can purchase ﬁxed income securities from us in two ways: directly from the issuer (new issues) in the primary market and through broker-

dealers, including afﬁliates of FBS, in the secondary market. FBS also offers brokered CDs issued by third-party banks.

FBS makes certain new issue ﬁxed income securities available without a separate transaction fee. New issue CDs are also offered

without a transaction fee. With respect to ﬁxed income securities purchased or sold through the secondary market, the cost for the

transaction (commonly called a “mark-up” for purchases or “mark-down” for sales) is included in the purchase or sale price. In addition

to any markup or markdown, an additional transaction charge can be imposed by FBS when you place your order through an FBS

Representative, depending on the type of ﬁxed income security you purchase.

FBS or its afﬁliates receive compensation from the issuer for participating in new issue offerings of bonds and CDs. Information about the

sources, amounts, and terms of this compensation is contained in the bond’s or CD’s prospectus and related documents. For secondary

market transactions, FBS and/or its afﬁliates can receive compensation by marking up or marking down the price of the security. For

information regarding trading and order routing practices, including compensation, see the “Order Routing and Principal Trading by FBS

Afﬁliates” section below.

In general, the bond market is volatile and ﬁxed income securities carry interest rate risk (i.e., as interest rates rise, bond prices usually

fall, and vice versa). Interest rate risk is generally more pronounced for longer-term ﬁxed income securities. Very low or negative interest

rates can magnify interest rate risks. Changing interest rates, including rates that fall below zero, can also have unpredictable effects on

markets and can result in heightened market volatility. Fixed income securities also carry inﬂation risk, liquidity risk, call risk, and credit

and default risks for both issuers and counterparties. Tax code changes can impact the municipal bond market. Lower-quality ﬁxed

income securities involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Foreign

ﬁxed income investments involve greater risks than U.S. investments, and can decline signiﬁcantly in response to adverse issuer, political,

regulatory, market, and economic risks. Fixed income securities sold or redeemed prior to maturity are subject to loss.

Certain FBS Representatives are compensated in connection with the purchase of ﬁxed income securities in your FBS Account.

Representative compensation is not affected by whether the security is purchased or sold as a new issue or in a secondary market

transaction and is paid irrespective of whether our Representative recommended the transaction to you. Representative compensation is

based on the type of ﬁxed income security that you purchase, with compensation for CDs and U.S. Treasury bonds being lower than for

other types of ﬁxed income securities. As a result, these Representatives have a ﬁnancial incentive to recommend certain ﬁxed income

products over others. We address this conﬂict by providing our Representatives with appropriate training and tools to ensure that they

are making recommendations that are in your best interest, supervising our Representatives, and disclosing these conﬂicts so that you

can consider them when making your ﬁnancial decisions.

Exchange-Traded Funds (ETFs)

FBS offers ETFs sponsored by an FBS afﬁliate and by third parties.

FBS does not charge a commission or other transaction fee for ETFs purchased online but will charge you a transaction fee if purchased

through an FBS Representative. You will pay a fee on the sale of any ETF, which will be identiﬁed in a transaction conﬁrmation sent to you.

FBS and its afﬁliate NFS receive compensation from BlackRock Fund Advisors, the sponsor of the iShares

ETFs, in connection with

a marketing program that includes promotion of iShares

ETFs and inclusion of iShares funds in certain FBS and NFS platforms and

investment programs. This marketing program creates an incentive for FBS to recommend the purchase of iShares ETFs. Additional

information about the sources, amounts, and terms of this compensation is contained in the iShares ETF’s prospectuses and related

documents. FBS and its afﬁliate NFS also have commission-free marketing arrangements with several other sponsors of active and smart

beta ETFs under which they are entitled to receive payments.

For the speciﬁc risks associated with an ETF, please see its prospectus or summary prospectus and read it carefully.

Certain FBS Representatives are compensated in connection with the purchase of ETFs in your FBS Account, regardless of whether the

Representative recommended the transaction to you. Representatives receive no additional compensation for the sale of iShares ETFs

versus other ETFs.

Insurance and Annuities

FBS and its afﬁliates offer proprietary and nonproprietary life insurance and annuities issued by FBS-afﬁliated insurance companies

and third-party insurance companies.

The insurance companies charge fees that are disclosed either explicitly or incorporated into the product’s beneﬁts or credits (referred

to as a “premium”). The fees for these products vary depending on the type of product purchased, any available options selected, and

surrender charges incurred, if any. Any explicit fees are disclosed in the respective prospectus, contract, and/or marketing materials. FBS

or its afﬁliates receive a commission from the issuing insurance companies for sales of their insurance and annuity products.

Life insurance and annuities are subject to risks, including the claims-paying ability of the issuing insurance company, which are detailed

in the prospectus, contract, and/or marketing materials.

Certain Representatives are compensated in connection with your purchase of insurance and annuity products. This compensation is not

affected by the type of insurance or annuity product you purchase or whether you purchase a proprietary or third-party product, but this

compensation is higher than the compensation received in connection with the sale of other less complex types of investments offered

by FBS. As a result, these Representatives have a ﬁnancial incentive to recommend insurance and annuity products over other types of

investments. We address this conﬂict by providing our Representatives with appropriate training and tools to ensure that they are making

recommendations that are in your best interest, supervising our Representatives, and disclosing these conﬂicts so that you can consider

them when making your ﬁnancial decisions.

Mutual Funds

FBS offers proprietary and third-party mutual funds that do not have a transaction fee, as well as third-party mutual funds available

with a sales load and/or a transaction fee. Neither FBS nor its Representatives provide recommendations with respect to mutual funds

that have a transaction fee.

FBS does not charge a fee for the purchase or sale of no-transaction-fee or load mutual funds. FBS will impose a short-term trading

fee for sales of all nonproprietary, no-transaction-fee funds made within 60 days of purchase. For transaction fee funds, FBS charges

a fee for all purchases. Load funds have a sales charge imposed by the third-party fund company that varies based on the share

class of the fund, which is described in each fund’s prospectus. You can ﬁnd more information about mutual fund fees by visiting

Fidelity.com/information.

FBS and its afﬁliates earn the following compensation from mutual fund transactions:

• FBS or its afﬁliates receive a portion of the sales load paid to a third-party fund company.

• FBS afﬁliates earn compensation from the ongoing management fees for proprietary funds, as identiﬁed in the funds’

prospectuses.

• FBS and its afﬁliates receive compensation from certain third-party fund companies for (i) access to, purchase or redemption of,

and maintenance of their mutual funds and other investment products, and (ii) other related shareholder servicing provided by FBS

or its afﬁliates to the funds’ shareholders. This compensation consists of asset and position-based fees, fund company and fund

start-up fees, infrastructure support fees, fund company minimum monthly fees, and fund low platform asset fees.

• FBS and its afﬁliates also receive compensation through a ﬁxed annual fee from certain third-party fund companies that participate

in an exclusive marketing, engagement, and analytics program. The only third-party fund companies eligible to participate in this

program are those that have adequately compensated FBS or its afﬁliates for shareholder servicing and that have demonstrated

consistent customer demand for their funds.

For the speciﬁc risks associated with a mutual fund, please read its prospectus or summary prospectus carefully.

Certain FBS Representatives are compensated in connection with the purchase of no-transaction-fee funds in your FBS Account,

regardless of whether the Representative recommended the transaction to you. Representative compensation is not affected by whether

you purchase a proprietary or third-party fund or by the amount of compensation received by FBS or its afﬁliates in connection with a

proprietary or third-party fund.

Private Funds and Alternative Investments

FBS offers certain proprietary and third-party privately offered funds and other alternative investments.

Investing in private funds and alternative investments are subject to certain eligibility and suitability requirements. The fees for purchasing

these types of investments are typically higher than for mutual funds or ETFs. For details regarding a speciﬁc private fund or alternative

investment, including fees and risks, please read its offering materials carefully.

FBS receives compensation from its afﬁliates and third parties for distributing and/or servicing alternative investments. FBS afﬁliates also

earn compensation from the ongoing management fees for proprietary alternative investments.

Certain Representatives are compensated in connection with the purchase of alternative investments. Representative compensation

is not affected by whether you purchase a proprietary or third-party alternative investment, but this compensation will be higher

than the compensation received in connection with the sale of other less complex types of investments offered by FBS. As a result,

Representatives have a ﬁnancial incentive to recommend alternative investments over other types of investments. We address this

conﬂict by providing our Representatives with appropriate training and tools to ensure that they are making recommendations that are in

your best interest, supervising our Representatives, and disclosing these conﬂicts so that you can consider them when making your

ﬁnancial decisions.

Stocks and Options

FBS offers for purchase and sale the stocks of publicly traded companies listed on domestic and international exchanges, as well as

options on many of these securities.

FBS does not charge you a commission for online U.S. stock transactions but will charge you a commission if such orders are placed

over the phone or through a Representative. Sell orders for equities are charged an activity assessment fee. There are also speciﬁc

commissions, fees, and charges that apply to transactions in stocks listed on international exchanges. Options have a per-contract fee

when traded online and a commission and per-contract fee apply if traded over the phone or through a Representative. For all options

trades, other regulatory fees apply. There are additional costs associated with options strategies that call for multiple purchases and sales

of options, such as spreads, straddles, and collars, as compared with a single options trade.

FBS charges a commission for stock transactions and charges commissions and per-contract fees for options transactions. For information

regarding trading and order routing practices, including compensation, see the “Order Routing and Principal Trading by FBS Afﬁliates”

section below.

Stock markets are volatile and can ﬂuctuate signiﬁcantly in response to company, industry, political, regulatory, market, infectious illness,

or economic developments. Investing in stocks involves risks, including the loss of principal. Stocks listed on foreign exchanges involve

greater risks than U.S. investments, including political and economic risks and the risk of currency ﬂuctuations, all of which may be

magniﬁed in emerging markets.

Options trading entails signiﬁcant risk and is not appropriate for all investors. Before you make use of options in any way, it’s essential

to fully understand the risks involved, and to be certain that you are prepared to accept them. Before trading options, please read

Characteristics and Risks of Standardized Options, which can be found by visiting Fidelity.com/information.

Additional FBS Account Services, Features, and Types

Checkwriting Services

You can set up checkwriting within your FBS account. Checks are issued through a bank that we have entered into an arrangement with

to provide checkwriting services. Checkwriting is not available for certain Retirement Accounts.

Credit and Debit Cards

Credit Cards

FBS has an arrangement with a third-party service provider that allows the service provider to issue several different versions of a co-

branded credit card. Most of these credit cards offer cash back rewards, among other features. If you are an FBS customer and choose

to have one of these credit cards, you have the option of depositing these rewards into your FBS account. Under the terms of our

arrangement with the issuer of these credit cards, FBS or its afﬁliates share the revenue attributable to these credit cards with the issuer.

Debit Cards

FBS has entered into an arrangement with a third-party service provider that provides FBS customers with a debit card to access the

uninvested cash in their FBS Accounts. FBS pays the service provider fees in exchange for its services, and those fees are reduced in part

or eliminated entirely by revenue generated in connection with certain transactions initiated by customers when using these debit cards.

College Savings Accounts/Plans, ABLE Plans, and Other Custodial Accounts

FBS or its afﬁliates offer a variety of state-sponsored 529 college savings plans (“529 Plans”), at both the state and national level, and

ABLE disability account savings plans (“ABLE Plans”).

There is no annual account fee or minimum required to open a 529 Plan or ABLE Plan account managed by Fidelity. Some states offer

favorable tax treatment to their residents only if they invest in their own state’s plan. Before making any investment decision, you

may want to consider whether your state or the designated beneﬁciary’s home state offers its residents a plan with alternate state tax

advantages or other state beneﬁts such as ﬁnancial aid, scholarship funds, and protection from creditors.

FBS or its afﬁliates receive program manager fees as well as portfolio management and underlying fund fees from the 529 Plans as

compensation for services provided to the Plans that include, but are not limited to, administrative, management, marketing, and

investment management services. The fees associated with these Plans are described in each Plan’s Disclosure Document.

Investments in 529 and ABLE Plans are municipal fund securities and are subject to market ﬂuctuation and volatility. See the Plan’s

Disclosure Document for additional information regarding risks.

Certain FBS Representatives are compensated for sales of 529 and ABLE Plans. This compensation is the same regardless of the Fidelity-

managed 529 or ABLE product you choose to purchase, but this compensation is higher than the compensation received in connection

with other types of investments offered by FBS, such as money market funds, equities, CDs. As a result, these Representatives have

a ﬁnancial incentive to recommend these types of Plans over other types of investments. We address this conﬂict by providing our

Representatives with appropriate training and tools to ensure that they are making recommendations that are in your best interest, by

supervising our Representatives, and by disclosing these conﬂicts so that you can consider them when making your ﬁnancial decisions.

You can also invest on behalf of a minor through a custodial account (also known as an UGMA or UTMA account, based on the Uniform

Gifts/Transfers to Minors Acts). Funds in a custodial account are irrevocable gifts and can only be used for the beneﬁt of the minor.

Securities discussed in this document can be purchased through these custody accounts, and our Representatives are compensated in

connection with your purchase of such securities as with other brokerage accounts.

Fully Paid Lending Program

Subject to certain eligibility and suitability requirements, you may choose to participate in our Fully Paid Lending Program (“Lending

Program”). The Lending Program is available to customers holding positions in eligible U.S. equities that are difﬁcult to borrow. You will

enter into a separate agreement, commonly referred to as a Master Securities Lending Agreement, with our afﬁliate NFS, if you choose to

participate in the Lending Program.

FBS and NFS earn revenue in connection with borrowing your securities and lending them to others in the securities lending market

and/or facilitating the settlement of short sales.

Certain FBS Representatives can recommend the use of the Lending Program but are not compensated in connection with your

participation in the Lending Program.

Health Savings Accounts

An HSA is an account that can be used by individuals enrolled in an HSA-eligible health plan to make contributions on a tax-advantaged

basis and to take current or future distributions for qualiﬁed medical expenses on a tax-advantaged basis. The Fidelity HSA is a brokerage

account that can be opened directly with FBS or through an Intermediary. Any recommendations provided to you for an HSA will be

limited to investment management services provided by FPWA, proprietary mutual funds and mutual funds that participate in the exclusive

marketing, engagement, and analytics program as described in the “Investment Products and Services” section above. Note that HSAs

offered in connection with your workplace beneﬁts program are described in the “Workplace Savings Plan Accounts” section below.

There are no fees to open an HSA account with FBS, and our Representatives are not compensated when you open an HSA directly

with FBS.

Certain of the securities discussed in this document can be purchased through an HSA, and our Representatives are compensated in

connection with your purchase of such securities.

IRAs and Other Retirement Accounts

We offer traditional IRAs and Roth IRAs to individual investors to make investments on a tax-advantaged basis. We also offer other

retirement accounts for those who are self employed (Self-Employed 401(k)s, SIMPLE IRAs, etc.) and to small business owners.

There are no fees to open IRAs or other Retirement Accounts with FBS, and our Representatives are not compensated when you open

these accounts. Certain of the securities discussed in this document can be purchased through an IRA or other Retirement Account, and

our Representatives are compensated in connection with your purchase of such securities.

Margin

The use of margin involves borrowing money to buy securities. If you use margin to buy eligible securities in your Account, you will pay

interest on the amount you borrow. Retirement accounts are not typically eligible for margin.

Margin trading entails greater risk, including, but not limited to, risk of loss and incurrence of margin interest debt, and is not suitable for

all investors. Please assess your ﬁnancial circumstances and risk tolerance before trading on margin. If the market value of the securities in

your margin account declines, you may be required to deposit more money or securities in order to maintain your line of credit. If you are

unable to do so, we may be required to sell all or a portion of your pledged assets.

FBS Representatives are not compensated in connection with the use of margin in your FBS Account and do not make recommendations

regarding the use of margin.

Rollovers from an Employer-Sponsored Retirement Plan

You can open an IRA with assets that are “rolled over” from a 401(k) or other employer-sponsored retirement plan. Our afﬁliates provide

recordkeeping and other services to employer-sponsored retirement plans (“Workplace Savings Plans”) and assets held in a Workplace

Savings Plan Account can be rolled over to an FBS IRA. Similarly, assets held in a third-party retirement plan can also be rolled over to an

FBS IRA.

If you are a participant in a Workplace Savings Plan and you are eligible to roll over retirement assets to an IRA, we can provide you

with information and/or recommendations regarding your plan distribution options. Certain FBS Representatives are trained to discuss

the ﬁnancial and nonﬁnancial factors to consider when deciding whether to stay in your Workplace Savings Plan, roll over to another

Workplace Savings Plan, or roll over to an FBS IRA. When discussing IRAs in connection with a rollover transaction, Representatives will

only discuss the features of an FBS IRA. Other ﬁnancial services ﬁrms may offer rollover IRAs that have different features.

If you are a participant in an employer-sponsored retirement plan that is not recordkept by an afﬁliate of FBS and you are eligible to roll

over retirement assets to an IRA, we can provide you with information regarding the factors that are important for you to consider when

deciding whether to remain in your current plan or transfer all or part of your employer-sponsored retirement plan’s assets to an FBS IRA.

If you are a participant in a Workplace Savings Plan and we recommend that you roll over your Workplace Savings Plan assets to an FBS

IRA, a conﬂict of interest exists because the compensation we and our afﬁliates receive from the investments, products, and services in

your FBS IRA is different from the compensation we and our afﬁliates receive from investments, products, and services in your Workplace

Savings Plan account. The compensation differential typically results because you may be able to access different investment options

in an FBS IRA than in your Workplace Savings Plan account, and those investments result in more (or less) compensation to us and

our afﬁliates.

There are no fees to open an FBS IRA and our Representatives are not compensated when you open this account. Certain of the

securities discussed in this document can be purchased through an FBS IRA and our Representatives are compensated in connection with

your purchase of such securities.

Sweep Options

Your FBS Account includes a “core position” that holds assets awaiting further investment or withdrawal. Depending on the type of

account, the available investment options for your core position include Fidelity money market mutual funds, an FDIC-insured deposit

account bank sweep, or a free credit balance. If you work with an Intermediary, your Intermediary may limit the core choice options it

makes available. If you use a free credit balance, FBS’ afﬁliates earn interest by investing your cash overnight. For more information,

please refer to the Customer Agreement at Fidelity.com/information. If you use a Fidelity money market fund, FBS’ afﬁliates earn

management and other fees as described in the fund’s prospectus. If your cash is swept to an FDIC-insured deposit bank sweep account,

FBS’ afﬁliates receive a fee from the bank receiving deposits through the bank sweep program. For more information, please refer to the

FDIC-Insured Deposit Sweep Program Disclosures document at Fidelity.com/information.

Accounts Offered by Afﬁliates of FBS

Charitable Giving

Fidelity Investments Charitable Gift Fund (“Fidelity Charitable”) is an independent public charity which offers the Fidelity Charitable

Giving Account

, a donor-advised fund. FBS and its afﬁliates provide services to Fidelity Charitable

and are compensated in connection

with those services.

Certain FBS Representatives are compensated for referrals to Fidelity Charitable.

Investment Advisory Services

Brokerage accounts and investment advisory services offered to you by FBS and its afﬁliates are separate and distinct. These offerings

are governed by different laws and regulations and have separate agreements with different terms, conditions, and fees that reﬂect

the differences between the services provided. It is important for you to understand that a self-directed FBS brokerage account differs

from a discretionary investment advisory service where FPWA or another FBS afﬁliate is responsible for deciding which investments will

be purchased or sold. FPWA also offers nondiscretionary investment advisory services that include ﬁnancial planning, proﬁling, and, as

appropriate, referrals to third-party investment advisors.

Investment advisory programs typically charge an ongoing fee for the investment, advice, and monitoring services provided which,

in the case of FPWA discretionary advisory services, also include costs of brokerage execution and custody. Fees for these investment

advisory services typically are based on the value of the assets for which the services are provided. Fees also vary based on the scope of

services provided. Information regarding each of the investment advisory programs offered by FPWA, including the fees charged, can be

found at Fidelity.com/information. FPWA’s investment advisory services are only provided with respect to the speciﬁc accounts or assets

that are identiﬁed in the agreement(s) you enter into with FPWA. FPWA does not provide investment advisory services for other accounts

or assets you have, either at FBS, an FBS afﬁliate, or with another ﬁnancial institution.

FBS does not receive separate commissions in connection with FPWA’s discretionary investment advisory services; however, FBS is

reimbursed for the brokerage and other services provided to FPWA.

Certain FBS Representatives also act as investment advisory representatives of FPWA. Your Representative will be acting as a registered

representative for FBS when discussing self-directed brokerage accounts, services, and investments, and will be acting as an investment

advisory representative for FPWA when discussing discretionary and nondiscretionary investment advisory services. FBS Representatives

are compensated in their capacity as investment advisory representatives of FPWA when providing investment advisory services to you.

This compensation varies based on the investment advisory service you select and can be greater than the compensation received in

connection with the sale of other less complex types of investments offered by FBS. As a result, these Representatives have a ﬁnancial

incentive to recommend FPWA’s investment advisory services over other types of investments offered by FBS. We address this conﬂict by

providing our Representatives with appropriate training and tools to ensure that they are making recommendations that are in your best

interest, by supervising our Representatives, and by disclosing these conﬂicts so that you can consider them when making your ﬁnancial

decisions.

Additionally, FBS’ afﬁliate FIWA offers advisory services to Intermediaries and to retail investors who work with Intermediaries. Generally,

you must have a relationship with an Intermediary to receive the advisory services from FIWA. If you open an FBS account with FIWA

for the provision of advisory services, you will generally pay a fee for the services associated with the platform fees for the investment

advisors, and brokerage, clearing, and custody services provided by FIWA’s afﬁliates, including FBS and NFS.

Workplace Services

FBS and its afﬁliates can provide a range of services to your Workplace Savings Plan. These services include investment management,

transfer agent, brokerage, custodial, recordkeeping, and shareholder services for some or all of the investment options available under

your Workplace Savings Plan. FBS can provide you with recommendations with respect to the investments held in your Workplace

Savings Plan account as permitted by your plan sponsor, either online or through an FBS Representative. Any recommendations provided

to you will be limited to those investment options offered in your Plan’s investment lineup (including investment advisory services offered

by FBS’ afﬁliate, FPWA), which are selected by the plan’s sponsor.

FBS can provide recommendations concerning a Workplace HSA. Any recommendations provided to you for a Workplace HSA will

be limited to investment management services provided by FPWA, proprietary mutual funds, and mutual funds that participate in

the exclusive marketing, engagement, and analytics program as described in the “Investment Products and Services” section above.

Please refer to your HSA Customer Agreement and our Schedule for additional account maintenance fees that can be charged by

your employer.

Our Representatives are not compensated when you participate in a workplace savings plan or open an HSA.

If you have opened an FBS Account in connection with your participation in your employer’s equity compensation plan where our afﬁliate

Fidelity Stock Plan Services, LLC, provides recordkeeping and administrative services (“Stock Plan Services”), then FBS will provide you

with brokerage account services as described in your Customer Agreement at Fidelity.com/information. You are also subject to the terms

and conditions of your employer’s equity compensation plan, including any applicable prospectus, grant or enrollment agreement, or

other documentation. We can also provide information regarding your employee beneﬁts.

FBS can also provide Executive Services to certain employees and/or participants in Workplace Savings Plans and/or through Stock Plan

Services. Executive Services typically include customized equity compensation analysis, assistance with retirement planning, income

protection, investment strategies, and access to products and services offered by FBS.

Third-Party Services through Marketplace Solutions

We have entered into certain arrangements to make the services of various third-party vendors available to our customers. These services

are generally, but not exclusively, accessed via hyperlinks on our website and mobile apps. These hyperlinks allow customers to connect

directly with a vendor to obtain that vendor’s services. In some cases, we receive compensation from these vendors when you decide to

use their services. This compensation can take a variety of forms, including, but not limited to, payments for marketing and referrals, as

well as sharing in a vendor’s revenue attributable to our customers’ usage of the vendor’s products or services.

FBS Representatives are not compensated in connection with these vendor relationships and do not make recommendations regarding

the use of these vendors.

Additional Conﬂicts of Interest

Agreements and Incentives with Intermediaries

If you work with FBS through an Intermediary, you have authorized your Intermediary to enter into an agreement with FBS that includes

a schedule of applicable interest rates, commissions, and fees that will apply to your Intermediary Account. In these arrangements,

FBS and the Intermediary agree to pricing for the respective Intermediary Accounts based on the nature and scope of business that

Intermediary does with FBS and its afﬁliates, including the current and future expected amount of assets that will be custodied by the

Intermediary with an FBS afﬁliate, the types of securities managed by the Intermediary, and the expected frequency of the Intermediary’s

trading. Intermediaries select from among a range of pricing schedules and/or investment products and services to make available to

Intermediary Accounts. Additionally, FBS can change the pricing, investment products and services, and other beneﬁts we provide if the

nature or scope of an Intermediary’s business with us, or our afﬁliates, changes or does not reach certain levels. The pricing arrangements

with intermediaries can pose a conﬂict of interest for FBS and for Intermediaries and inﬂuence the nature and scope of business the

Intermediaries obtain from FBS and its afﬁliates. For more information on the pricing that applies to your Intermediary Account, contact

your Intermediary.

In addition, if you work with an Intermediary, FBS or its afﬁliates provide your Intermediary with a range of beneﬁts to help it conduct

its business and serve you. These beneﬁts can include providing or paying for the costs of products and services furnished to the

Intermediary or direct payment to your Intermediary to defray the costs they incur when they do business. In other instances, Fidelity

makes direct payments to Intermediaries in certain arrangements including business loans, referral fees, and revenue sharing. Examples

of other beneﬁts provided include (i) paying for technology solutions for Intermediaries; (ii) obtaining discounts on our proprietary

products and services; (iii) assisting Intermediaries with their marketing activities; (iv) assisting Intermediaries with transferring customer

accounts to our platform and in completing documentation to enroll their clients to receive our services; (v) making direct payments to

reimburse for reasonable travel expenses when reviewing our business and practices; (vi) making direct payments for performing back-

ofﬁce, administrative, custodial support, and clerical services for us in connection with client accounts for which we act as custodian; and

(vii) making referral payments to Intermediaries, their afﬁliates, or third parties for referring business to FBS. These beneﬁts provided

to your Intermediary do not necessarily beneﬁt your Intermediary Account. The beneﬁts and arrangements vary among Intermediaries

depending on the business they and their clients conduct with us and other factors. Please discuss with your Intermediary the details

regarding its relationship with FBS and its afﬁliates.

Order Routing and Principal Trading by FBS Afﬁliates

When you place a purchase or sale order for individual stocks or bonds in your FBS Account, FBS typically will route the order to

its afﬁliated clearing broker-dealer NFS, which in turn either executes the order from its own account or sends the order to various

exchanges or market centers for execution. Any order executed for your FBS Account is subject to a “best execution” obligation. If NFS

executes the order from its own account (a “principal trade”), it can earn compensation on the transaction. This creates an incentive

for NFS to execute stock or bond trades with its own account. In deciding where to send orders received for execution, NFS considers

a number of factors including the size of the order, trading characteristics of the security, favorable execution prices (for example,

the opportunity for price improvement), access to reliable market data, availability of efﬁcient automated transaction processing,

and execution cost. Some market centers or broker-dealers may execute orders at prices superior to publicly quoted market prices.

Although you can instruct us to send an order to a particular marketplace, NFS order-routing policies are designed to result in transaction

processing that is favorable for you. FBS and/or NFS receives remuneration, compensation, or other consideration for directing customer

orders to certain market centers. Such consideration can take the form of ﬁnancial credits, monetary payments, rebates, volume

discounts, or reciprocal business. The details of any credit, payment, rebate, or other form of compensation received in connection with

the routing of a particular order will be provided upon your request. For additional information on our best execution and order entry

procedures, please refer to our Fidelity Account Customer Agreement, which you can ﬁnd at Fidelity.com/information.

FBS Representative compensation is not affected by NFS’ order-routing practices or whether we execute transactions on a principal basis.

For more information, including copies of any document referenced, please go to Fidelity.com/information or contact your FBS Representative.

Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithﬁeld, RI 02917

National Financial Services LLC, Member NYSE, SIPC, 200 Seaport Boulevard, Boston, MA 02210

919926.1.0 1.9898974.100

Scan for more information.

Guide to Brokerage and Investment Advisory Services

at Fidelity Investments

This brochure highlights important differences between the brokerage and investment advisory services that

may be provided to you as part of your relationship with Fidelity Investments (“Fidelity”, “we”, or “us”).

Depending on your individual goals and investment objectives, our representatives may assist you with

brokerage services, investment advisory services, or both.

It is important for you to understand that Fidelity’s brokerage services and investment advisory services are

separate and distinct. Our brokerage products and services are subject to different sets of laws and regulations

from our investment advisory products and services, and our obligations and duties to you are different for each.

Although you may have a relationship with a dedicated Fidelity representative who serves as your primary point

of contact for the services you receive from Fidelity, when you receive multiple services from us, each service will

be governed by the terms of the applicable agreement, as well as the laws and regulations applicable to that

type of service.

Fidelity’s Brokerage Services

Our brokerage products and services are provided to you through Fidelity Brokerage Services LLC (“FBS”), a

broker-dealer that is registered with the Securities and Exchange Commission (“SEC”) and that is a member of

the Financial Industry Regulatory Authority (“FINRA”), the New York Stock Exchange (“NYSE”), and Securities

Investor Protection Corporation (“SIPC”).

When providing brokerage products and services, as described in your Fidelity Account

Customer Agreement

or other applicable customer agreement, and/or for services in connection with certain workplace savings plans

as described in an agreement with your employer or other applicable document, we will accept orders and

execute transactions in your Fidelity brokerage account based on your instructions. You, or your authorized

representative, are responsible for all investment decisions in your Fidelity brokerage account. As a broker, we

also offer you other services incidental to our brokerage services which can take the form of education, research,

access to tools available on Fidelity.com, and guidance or advice designed to assist you in making decisions

regarding the various products available to you. No separate fees are charged for these other services incidental

to our brokerage services. Some of our brokerage representatives also hold insurance licenses that allow them

to sell life insurance and annuities issued by our afﬁliated life insurance companies and certain unafﬁliated life

insurance companies.

When we act as your broker-dealer, we are held to the legal standards under applicable federal and state

securities laws, and the rules of self-regulatory organizations for broker-dealers such as FINRA. We are also

subject to state insurance laws relative to the sale of life and annuity products. Among other things, these

regulations require broker-dealers to:

• Execute your trades with diligence and competence and seek to provide best execution in light of prevailing

market conditions;

• Have reasonable grounds for believing that any security that we speciﬁcally present to you is suitable given

your investment objectives, risk tolerance, ﬁnancial and tax status, and other ﬁnancial information you have

disclosed to us; and

• Treat you in a manner characterized by principles of fair dealing and high standards of honesty and integrity.

How you are charged for Fidelity’s Brokerage Services

Your costs for brokerage services are typically based on a transaction charge, often called a commission, for each

trade you make in your account. Other costs and charges will also apply to your account, and these costs and

charges are outlined in your Fidelity Account Customer Agreement or through other notiﬁcation. Life insurance

and annuity product sales will result in a commission payment to us from the afﬁliated and non-afﬁliated

insurance companies for the insurance products we sell.

Fidelity’s Investment Advisory Services

Our investment advisory services are provided through Fidelity Personal and Workplace Advisors, LLC (“FPWA”),

an investment adviser registered with the SEC under the Investment Advisers Act of 1940 (the “Advisers Act”).

For workplace savings accounts, advisory services are provided jointly between FPWA and Strategic Advisers LLC

(“Strategic Advisers”), another afﬁliated SEC-registered investment adviser. Generally, the advisory services we

offer include nondiscretionary ﬁnancial planning, and/or discretionary investment management, or a referral to an

unafﬁliated investment advisory ﬁrm.

We will provide investment advisory services pursuant to a written agreement (“Client Agreement”)

with you (or in the case of workplace savings accounts, with your sponsor) that describes our investment

advisory relationship and our obligations under the Client Agreement. You also will receive a disclosure

document required by Form ADV, Part 2A (“Program Fundamentals”), describing the speciﬁc investment

advisory service we will be providing to you. These documents explain the types of services we provide, the

applicable advisory fees, and any potential conﬂicts between our interests and yours. You will also receive

additional disclosure documents as required by Form ADV, Part 2B which provide details regarding the business

background of the personnel responsible for delivering investment advice to you.

Please note that our investment advisory services are limited strictly to those services for which you or your plan

sponsor has entered into a Client Agreement with FPWA and, with respect to workplace savings plans, Strategic

Advisers. The fact that we provide discretionary investment management of some of your accounts, or that we

provide ﬁnancial planning with respect to certain of your goals, does not mean that we are under any obligation

to provide investment advisory services for other accounts or assets you may have, either at Fidelity or with

another ﬁnancial institution. Where we provide ﬁnancial planning services as an investment adviser, you are

responsible for determining whether, and how, to implement any ﬁnancial planning recommendations presented,

including asset allocation suggestions, and for paying applicable fees. Financial planning through FPWA does

not constitute an offer to sell, a solicitation of any offer to buy, or a recommendation of any security by Fidelity

Investments or any third party. We will act as a broker-dealer or an investment adviser with respect to any

implementation depending on the products or services you select, and such products or services may be subject

to separate charges, fees, and expenses.

When providing services as an investment advisor, we owe you a ﬁduciary duty under the Advisers Act with

respect to the speciﬁc investment advisory service provided. Our ﬁduciary duty includes the obligation to:

• Ensure that investment advisory services are suited to your speciﬁc investment objectives, needs, and circumstances;

• Make full and fair disclosure of all material facts about our services and our relationship;

• Place your interests before our own when providing the investment advisory service to you;

• Disclose conﬂicts of interest, including compensation received by us or our afﬁliates in connection with the

investment advisory program;

• Obtain your consent before engaging in transactions with you for our own, an afﬁliate’s, or another client’s

account; and

• Not give an unfair advantage to one advisory client to the disadvantage of another.

How you are charged for Fidelity’s Investment Advisory Services

Fees for investment advisory services are described in the applicable Program Fundamentals and Client

Agreement. Typically, with respect to discretionary investment management services, your fee for such services

will be a percentage of the assets held in an account over which we have investment discretion. As an example,

the discretionary investment management fee typically covers both the investment management services and

the trading costs associated with the account (note that other costs are not included as detailed in your Client

Agreement, Program Fundamentals and/or other notiﬁcation). This fee is expressed as an annual percentage, but is

charged to your account on a quarterly basis in arrears. With respect to nondiscretionary ﬁnancial planning services,

our advisory fees may instead be in the form of a ﬁxed annual payment amount or may be included as part of your

annual discretionary investment management fee

Additional information applicable to Retirement Accounts

Unless otherwise agreed to by a Fidelity Investments company in writing, information, including analytics,

provided to you with regard to your workplace savings account(s) or individual retirement account(s) (together,

your “Retirement Accounts”), is educational in nature and should not be relied on as a primary basis for your

decisions regarding investing in, purchasing or selling securities or other property for your Retirement Account(s).

In applying any asset allocation suggestion to your individual situation, be sure to consider other assets, income

and investments (e.g., home equity, savings accounts or other retirement accounts) in addition to your

Retirement Account(s).

How Fidelity representatives are compensated

As compensation for the services they provide, our representatives receive base pay and may also be eligible

to receive variable compensation. Fidelity representatives may have a ﬁnancial incentive to recommend your

participation in an investment advisory service where this compensation is greater than what the representative

would receive if you purchased certain other products or enrolled in other services offered by Fidelity. More

information about our representatives’ compensation is available upon request, or can be found online at

www.ﬁdelity.com/repcompensation and in the Program Fundamentals associated with each advisory service.

Additional information

Fidelity representatives’ use of any speciﬁc title or designation does not imply that they are providing you with

any speciﬁc service, such as ﬁnancial planning or other investment advisory services. Whether you are a brokerage

or investment advisory client is dictated by the actual services that are agreed upon and provided to you.

If at any time you would like clariﬁcation on the nature of services provided to you, please speak with a Fidelity

representative, or visit our website at Fidelity.com. We also urge you to carefully read the account agreements

and disclosures that we provide to you for our brokerage and advisory services, copies of which can be found

at www.ﬁdelity.com/customer-service/forms-applications/overview or can be obtained from your Fidelity

representative.

541395.13.0 1.907361.108

Advisory services are provided for a fee through Fidelity Personal and Workplace Advisors LLC, and, with respect to workplace savings

accounts, Strategic Advisers LLC. Both are registered investment advisers and Fidelity Investments companies.

Brokerage services are provided by Fidelity Brokerage Services LLC. Custody and other services are provided by National Financial Services

LLC. Both are Fidelity Investments companies and members of NYSE and SIPC.

Fidelity Brokerage Services LLC, Member NYSE and SIPC, 900 Salem Street, Smithﬁeld, RI 02917

Brokerage Commission

and Fee Schedule

FEES AND COMPENSATION

Fidelity brokerage accounts are highly flexible, and our cost

structure is flexible as well. Our use of “à la carte” pricing for

many features helps to ensure that you only pay for the

features you use.

About Our Commissions and Fees

The most economical way to place trades is online, meaning

either through Fidelity.com, Fidelity Active Trader Pro,

or Fidelity

Mobile.

The next most economical way is Fidelity Automated

Service Telephone (FAST

). This automated service is available

around the clock and can be accessed from a touch-tone phone.

The fees described in this document apply to the Fidelity

Account,

Non-Prototype Retirement Accounts, Health Savings

Accounts (HSAs), and Fidelity Retirement Accounts (including

Traditional, Roth, Rollover, SEP-IRA, SIMPLE IRAs, and Fidelity

Retirement Plans (Keogh and SE 401(k)), and inherited IRAs and

inherited Keogh accounts). Note that for Stock Plan Services

Accounts, a different fee schedule located on NetBenefits.com

may apply for Exercise-and-Sell Fees for Stock Option Plans and

Sale of Company Stock. This Fidelity Brokerage Commission and

Fee Schedule applies to all other transactions. The fees described

in this document may change from time to time without notice.

Before placing a trade, consider Fidelity’s most recent Brokerage

Commission and Fee Schedule, available at Fidelity.com or

through a Fidelity representative.

STOCKS/ETFs

Online $0.00 per trade

FAST

$12.95 per trade

Rep-Assisted $32.95 per trade

The remuneration that Fidelity receives and keeps as described in this

section applies to transactions and activities involving securities including,

but not limited to, domestic (U.S.) equities traded on national exchanges,

short sales, exchange-traded funds (ETFs), and U.S.-traded foreign secu-

rities (ADRs, or American Depository Receipts, and ORDs, or Ordinaries).

For details on foreign stock trading, see the Foreign Stocks section. Large

block orders requiring special handling, restricted stock orders, and certain

directed orders may carry additional fees, which will be disclosed at the

time of the transaction.

In addition to the per trade charges identified above, Fidelity’s remuneration

also includes a fee that is charged on all sell orders (“Additional

Assessment”). The Additional Assessment, which typically ranges from

$0.01 to $0.03 per $1,000 of principal, is charged by Fidelity. Fidelity uses

the Additional Assessment to pay certain charges imposed on Fidelity

by national securities associations, clearing agencies, national securities

exchanges, and other self-regulatory organizations (collectively, “SROs”).

The SROs in turn pay the SEC using the money they collect from Fidelity

and other broker-dealers. The Additional Assessment that Fidelity charges

you is designed to offset the charges imposed on Fidelity by the SROs,

which in turn are intended to cover the costs incurred by the government,

including the SEC, for supervising and regulating the securities markets

and securities professionals. You acknowledge, understand, and agree that

Fidelity determines the amount of the Additional Assessment in its sole and

exclusive discretion, and that the Additional Assessment may differ from

or exceed the charges imposed on Fidelity by the SROs. These differences

are caused by various factors, including, among other things, the rounding

methodology used by Fidelity, the use of allocation accounts, transactions

or settlement movements for which a fee by the SROs may not be assessed,

and differences between the dates of changes to rates charged by the

SROs. You understand, acknowledge, and agree that Fidelity has made no

representation that the Additional Assessment charged to you will equal

the fees assessed against Fidelity by the SROs in connection with your

transactions. The Additional Assessment is in addition to the commissions we

charge (i.e., the per trade charges identified above), and is included on your

trade confirmation as a part of the Activity Assessment Fee. For the exact

amount of the Additional Assessment charged on a particular transaction,

please contact a Fidelity representative.

Fidelity Brokerage Services LLC (“FBS”) and/or NFS receives remuneration,

compensation, or other consideration (such as financial credits or reciprocal

business) for directing orders in certain securities to particular broker-dealers

or market centers for execution. The payer, source, and nature of any

compensation received in connection with your particular transaction will vary

based on the venue that a trade has been routed to for execution and will

be disclosed upon written request to FBS. Please refer to Fidelity’s customer

agreement for additional information about order flow practices and to Fidelity’s

commitment to execution quality

(http://personal.fidelity.com/products/trading/

Fidelity_Services/Service_Commitment.shtml)

for additional information about

order routing. Also review FBS’s annual disclosure on payment for order flow

policies and order routing policies.

FBS has entered into a long-term, exclusive and significant arrangement with the

advisor to the iShares Funds that includes but is not limited to FBS’s promotion

of iShares funds, as well as in some cases purchase of certain iShares funds at a

reduced commission rate (“Marketing Program”). FBS receives compensation

from the fund’s advisor or its affiliates in connection with the Marketing Program.

FBS is entitled to receive additional payments during or after termination of

the Marketing Program based upon a number of criteria, including the overall

success of the Marketing Program. The Marketing Program creates significant

incentives for FBS to encourage customers to buy iShares funds. Additional

information about the sources, amounts, and terms of compensation is

described in the ETF’s prospectus and related documents.

NEW ISSUE

Fidelity makes certain new issue products available without a separate

transaction fee. Fidelity may receive compensation for participating

in the offering as a selling group member or underwriter. The

compensation Fidelity receives from issuers when acting as both

underwriter and selling group member is reflected in the “Range of

Fees from Underwriting” column. When Fidelity acts as underwriter

but securities are sold through other selling group members, Fidelity

receives the underwriting fees less the selling group fees.

Securities Range of Fees

from Participation

in Selling Group

Range of Fees

from Underwriting

IPOs • 3% to 4.2% of the

investment amount

• 5% to 7% of the

investment amount

Follow-Ons • 1.8% to 2.4% of the

investment amount

• 3% to 4% of the

investment amount

Please refer to the applicable pricing supplement or other

offering document for the exact percentage sales concession or

underwriting discount.

OPTIONS

Online $0.00 per trade + 65¢ per contract

FAST

$12.95 per trade + 65¢ per contract

Rep-Assisted

$32.95 per trade + 65¢ per contract

Buy-to-close orders placed online for options priced 0¢ to 65¢ are

commission-free and are not subject to per contract option fees. For

trades placed on other channels, you will not be charged a per contract

fee when the contract price is 65¢ or less. Regular option rates (as shown

above) apply when the contract price exceeds 65¢.

Maximum charge: 5% of principal (subject to a minimum charge of $12.95 for

FAST trades and $32.95 for Rep-Assisted trades).

Exercises and assignments are commission-free and are not charged a per

contract fee.

In addition to the per trade/contract fees described above, Fidelity’s

remuneration also includes fees it charges you (“Options Fee”) that are

designed to offset the Options Regulatory Fee (“ORF”) that the Options

Clearing Corporation (“OCC”) charges Fidelity through various options

exchanges. The ORF applies to any transaction to buy or sell options

contracts and represents the cumulative charges imposed by all the

participating options exchanges. The ORF has ranged from $0.03 to $0.05

per contract but is subject to change at any time. You acknowledge,

understand, and agree that Fidelity determines the amount of the Options

Fee charged to you and its other customers in its sole and exclusive

discretion, and that the Options Fee amount collected from you by Fidelity

may differ from or exceed the ORF that Fidelity pays to OCC. These

differences are caused by various factors, including, among other things,

the rounding methodology used by Fidelity, the use of allocation accounts,

transactions for which a fee may not be assessed, and differences between

the dates of changes to the ORF rate. You understand, acknowledge, and

agree that Fidelity has made no representation that the fees assessed to

you will equal the fees assessed against Fidelity by the OCC in connection

with your transactions. This Options Fee is in addition to your commission

and is included on your trade confirmation as a part of the Activity

Assessment Fee. For the exact amount of the Options Fee charged to you

on a particular transaction, please contact a Fidelity representative.

Multi-Leg Option orders placed online are charged a per contract Options

Fee for the total number of contracts executed in the trade. Multi-Leg

Option orders placed through other channels are charged a commission

and the 65¢ per contract fee.

A Financial Transaction Tax of 0.30% of principal per trade on purchases of French securities and 0.10% of principal per trade on purchases of Italian securities

may be assessed.

An “Additional Assessment” is also charged on any order to sell options

contracts. Please refer to the discussion of the “Additional Assessment” in

the Stocks/ETFs section of this document for additional information.

BONDS AND CDs

New Issues, Primary Purchases (all other fixed-income securities

except U.S. Treasury)

Fidelity makes certain new issue products available without a separate

transaction fee. Fidelity may receive compensation from issuers

for participating in the offering as a selling group member and/or

underwriter. The compensation Fidelity receives from issuers when acting

as both underwriter and selling group member is reflected in the “Range

of Fees from Underwriting” column. When Fidelity acts as underwriter but

securities are sold through other selling group members, Fidelity receives

the underwriting fees less the selling group fees.

BONDS

Securities Range of Fees

from Participation

in Selling Group

Range of Fees

from Underwriting

Agency/GSE N/A • 0.05% to 1.00% of the

investment amount

Corporate

Notes

• 0.01% to 2.5% of

the investment

amount

• 0.01% to 3.0% of the

investment amount

Corporate

Bond

• 0.01% to 2.5%

of the investment

amount

• 0.05% to 3.0%

of the investment

amount

Municipal

Bonds and

Taxable

Municipal

Bonds

• 0.1% to 2% of

the investment

amount

• 0.1% to 2.5% of the

investment amount

Structured

Products

(Registered

Notes)

• 0.05% to 5.0% of

the investment

amount

N/A

Fixed-Rate

Capital

• 2% of the invest-

ment amount

• 3% of the investment

amount

Please refer to the applicable pricing supplement or other

offering document for the exact percentage sales concession or

underwriting discount.

CDs

Securities Range of Fees

from Participation

in Selling Group

Range of Fees

from Underwriting

CDs — CDIPs

(Inflation

Protected)

• 0.1% to 2% of

the investment

amount

• 0.1% to 2.5% of the

investment amount

Structured

Products

(Market-linked

CDs)

• 0.05% to 5% of

the investment

amount

N/A

U.S. Treasury, including TIPS — Auction Purchases

Online No charge

Rep-Assisted $19.95 per trade

SECONDARY MARKET TRANSACTIONS

Mark-ups for all secondary bond (fixed-income) trades are listed below.

U.S. Treasury, including TIPS

Online No charge

*Rep-Assisted $19.95

All Other Bonds

Online $1.00 per bond

Rep-Assisted $1.00 per bond*

*Rep-Assisted $19.95 minimum

Please note that a $250 maximum applies to all trades and is reduced to

a $50 maximum for bonds maturing in one year or less.

Bond orders cannot be placed through FAST.

The offering broker, which may be our affiliate National Financial Services

(“NFS”), may separately mark up or mark down the price of the security

and may realize a trading profit or loss on the transaction. If NFS is not the

offering broker, Fidelity compensation is limited to the prices above.

Foreign Fixed-Income Trading

When purchasing a foreign currency–denominated fixed-income security for

settlement in USD, the following additional charges will apply:

<$1M 0.30% of principal

$1M–$5M 0.20% of principal

>$5M negotiated rate

MUTUAL FUNDS

This section only describes fees associated with your account. Fees

charged by a fund itself (for example, expense ratios, redemption fees

[if any], exchange fees [if any], sales charges [for certain load funds]) are in

the fund’s prospectus. Read it carefully before you invest.

Fidelity Funds

All Methods No transaction fee

FundsNetwork Funds

Through FundsNetwork,

your account provides access to over 10,000

mutual funds. At the time you purchase shares of funds, those shares will

be assigned either a transaction fee (TF), a no transaction fee (NTF) or a

load status. When you subsequently sell those shares, any applicable fees

will be assessed based on the status assigned to the shares at the time

of purchase.

Fidelity Brokerage Services LLC, or its affiliates, may receive compensa-

tion in connection with the purchase and/or the ongoing maintenance of

positions in certain mutual funds in your account. FBS may also receive

compensation for such things as systems development necessary to

establish a fund on its systems, a fund’s attendance at events for FBS’s

clients and/or representatives, and opportunities for the fund to promote

its products and services. This compensation may take the form of sales

loads and 12b-1 fees described in the prospectus, as well as program

participation and maintenance fees, start-up fees, and infrastructure

support paid by the fund, its investment advisor, or an affiliate.

FundsNetwork No Transaction Fee Funds.

All Methods No transaction fee* Most NTF Funds will have no load.

Certain NTF Funds will be available load waived.

Short-term Trading Fees

Fidelity charges a short-term trading fee each time you sell or exchange

shares of a FundsNetwork NTF fund held less than 60 days. This fee does

not apply to Fidelity funds, money market funds, FundsNetwork Transaction

Fee funds, FundsNetwork load funds, funds redeemed through the Personal

Withdrawal Service, or shares purchased through dividend reinvestment.

In addition, Fidelity reserves the right to exempt other funds from this fee,

such as funds designed to achieve their stated objective on a short-term

basis. The fee will be based on the following fee schedule:

Online $49.95 flat fee

Fidelity Automated Service Telephone (FAST

): 0.5625% of principal

(25% off representative-assisted rates), maximum $187.50, minimum $75

Rep-Assisted: 0.75% of principal, maximum $250, minimum $100

Keep in mind that the short-term trading fee charged by Fidelity on

FundsNetwork NTF funds is different and separate from a short-term

redemption fee assessed by the fund itself. Not all funds have short-term

redemption fees, so please review the fund’s prospectus to learn more

about a potential short-term redemption fee charged by a particular fund.

*Fidelity reserves the right to change the funds available without transac-

tion fees and reinstate the fees on any funds.

FundsNetwork Transaction-Fee Funds

Purchases:

Online: $49.95 or $75 per purchase. To identify any applicable

transaction fees associated with the purchase of a given fund, please

refer to the “Fees and Distributions” tab on the individual fund page on

Fidelity.com.

FAST

: 0.5625% of principal per purchase; minimum $75,

maximum $187.50

Rep-Assisted: 0.75% of principal per purchase; minimum $100,

maximum $250

Redemptions:

Fidelity does not charge a transaction fee on any redemption of shares

of a transaction-fee fund that were purchased with no load. A fund’s own

redemption fees may apply.

You can buy shares in a transaction-fee fund from its principal underwriter

or distributor without a Fidelity transaction fee.

FundsNetwork Load Funds

A fund’s sales charges may apply. Fidelity does not charge a transaction

fee on a load fund. A fund’s own redemption fees may apply.

FOREIGN STOCKS

Fidelity offers you two different ways to trade foreign stocks. You can utilize

either Fidelity’s “International Trading” functionality or its “Foreign Ordinary

Share Trading” service. Depending on the service, different commissions,

taxes and fees may apply as more fully described below. You can also call a

Fidelity representative for further detail.

International Trading

International Trading allows customers to trade stocks from 25 countries

and exchange between 16 currencies. These trades are placed using a

root symbol, followed by a colon (:) and then the two-letter country code

for the market the customer wants to trade in. The commission and addi-

tional charges that may apply for International Trading will vary as noted

below, depending on the market and whether the trade is placed online

or through a representative. Please also note that if a security trading on

an exchange in one of the markets noted below is only listed for trading

in a currency other than that country’s local market’s currency, then the

commissions and fees that will be charged will be based on the currency

the security is trading in instead of the local market’s currency. The list of

countries, currencies, taxes and fees provided below is subject to change

without notice.

Austria, Belgium, Finland, France, Germany, Greece, Ireland,

Italy, Netherlands, Portugal, and Spain

Online 19 EUR per trade

Rep-Assisted €50 EUR per trade

Note: There may be additional fees or taxes imposed on transactions in certain

securities including:

Financial Transaction Tax: 0.30% of principal per trade

on purchases of French securities and 0.10% of principal per trade on

purchases of Italian securities.

Stamp Tax

1.00% of principal per trade on purchases of Irish securities.

Australia

Online $32 AUD per trade

Rep-Assisted $70 AUD per trade

Canada

Online $19 CAD per trade

Rep-Assisted $70 CAD per trade

Denmark

Online 160 DKK per trade

Rep-Assisted 420 DKK per trade

Hong Kong

Online HK$250 HKD per trade

Rep-Assisted HK$600 HKD per trade

Note: Additional fees or taxes imposed on transactions in Hong Kong

securities include:

Transaction Levy 0.003% of principal per trade

Trading Fee 0.005% of principal per trade

Stamp Duty 0.10% of principal per trade

Japan

Online ¥3,000 JPY per trade

Rep-Assisted ¥8,000 JPY per trade

Mexico

Online $360 MXN per trade

Rep-Assisted $960 MXN per trade

New Zealand

Online $35 NZD per trade

Rep-Assisted $90 NZD per trade

Norway

Online kr160 NOK per trade

Rep-Assisted kr400 NOK per trade

Poland

Online 90 PLN per trade

Rep-Assisted 235 PLN per trade

S. Africa

Online 225 ZAR per trade

Rep-Assisted 600 ZAR per trade

Note: Additional fees or taxes imposed on transactions in S. African

securities include:

Securities Transfer Tax: 0.25% of principal on purchases

Singapore

Online $35 SGD per trade

Rep-Assisted $90 SGD per trade

Note: Additional fees or taxes imposed on transactions in Singapore

securities include:

Clearing fee 0.04% of principal per trade

Sweden

Online kr180 SEK per trade

Rep-Assisted kr480 SEK per trade

Switzerland

Online CHF25 CHF per trade

Rep-Assisted CHF65 CHF per trade

United Kingdom

Online £9 GBP per trade

Rep-Assisted £30 GBP per trade

Note: Additional fees or taxes imposed on transactions in UK securities

include: PTM Levy £1 GBP per trade where principal amount is >£10,000

GBP Stamp Duty 0.50% of principal only on purchases

There may also be further fees, taxes, or other charges assessed when

conducting transactions in foreign securities beyond those described

here. Details regarding these charges are available from a Fidelity repre-

sentative. These fees, taxes, and charges, if any, will be disclosed on your

trade confirmation (either individually or in the aggregate) and/or may be

incorporated into the execution price.

Foreign Currency Exchange

In addition to the commissions, taxes, fees, and other charges noted above,

a currency exchange fee (in the form of a mark-up or mark-down on the

exchange rate) will be charged based on the size of the currency conversion,

pursuant to the following schedule:

<$100K 1.0% of principal

$100K–<$250K 0.75% of principal

$250K–<$500K 0.50% of principal

$500K–<$1M 0.30% of principal

$1M+ 0–0.20% of principal

Foreign Ordinary Share Trading

Foreign Ordinary Share Trading allows customers to trade shares in

foreign corporations on the over-the-counter (OTC) market using a

five-character symbol ending in “F.” Trades in foreign ordinary shares can

be placed online or through a Fidelity representative. In either case, the

domestic commission schedule for stocks/ETFs will apply. A $50 fee will

also be charged on each transaction in any foreign ordinary stock that is

not Depository Trust Company eligible. Depending on the security and

the market, additional charges will apply, as described below. There may

also be further fees, taxes, or other charges assessed when conducting

transactions in foreign securities beyond those described here. Details

regarding these charges are available from a Fidelity representative.

These fees and taxes, if any, will be disclosed on the trade confirmation

(either individually or in the aggregate) and/or may be incorporated into

the execution price.

Canada

When trading in Canadian-listed stocks, orders may be routed to brokers

in Canada. Dually listed Canadian stocks may be routed to a Canadian

broker or U.S. market center for execution. If the order is routed to a

Canadian broker, a local broker’s fee of $0.0015 CAD per share if the price

of the stock is less than or equal to $0.10 CAD, $0.0025 CAD per share

if the price of the stock is greater than $0.10 and less than $1 CAD, and

$0.005 per share if the price of the stock is greater than or equal to

$1 CAD, and a foreign exchange fee of up to 0.01% of the principal may

also be incorporated into the execution price.

All Other Countries

For every country other than Canada, shares will generally be traded on

the over-the-counter market through a U.S. market maker, unless you

direct otherwise when you place your trade through a representative. In

that situation (that is, if you direct that the transaction occur other than on

the over-the-counter market), an additional foreign exchange fee of up to

0.30% of principal per trade may be incorporated into the execution price.

OTHER INVESTMENTS

Commercial Paper $50 per transaction

Unit Investment Trusts (UITs) $35 minimum per redemption; no fee

to purchase. Fidelity makes certain new issue products available without a

separate transaction fee. Fidelity receives compensation for participating

in the offering as a selling group member. Fees from participating in the

selling group range from 1% to 4% of the public offering price. Fidelity

may also receive compensation for reaching certain sales levels, which

range from 0.001% – 0.0025% of the monthly volume sold.

Precious Metals

% Charged on % Charged on

Buy Gross Amount Gross Amount Sell Gross Amount Gross Amount

$0–$9,999 2.90% $0–$49,999 2.00%

$10,000–$49,999 2.50% $50,000–$249,999 1.00%

$50,000–$99,999 1.98% $250,000+* 0.75%

$100,000+* 0.99%

*delivery charges and applicable taxes if you take delivery

Fidelity charges a quarterly storage fee of 0.125% of the total value or

$3.75, whichever is greater. Storage fees are pre-billed based on the

value of the precious metals in the marketplace at the time of billing.

For more information on these other investments and the cost of a specific

transaction, contact Fidelity at 800-544-6666. Minimum fee per precious

metals transaction: $44. Minimum precious metals purchase: $2,500 ($1,000

for IRAs). Precious metals may not be purchased in a Fidelity Retirement Plan

(Keogh), and are restricted to certain types of investments in a Fidelity IRA.

OTHER FEES AND COMPENSATION

All Accounts

Foreign Currency Wires up to 3% of principal; charged when

converting USD to wire funds in a foreign currency

Foreign Dividends / Reorganizations 1% of principal; charged when

a dividend is paid or a reorganization event occurs on a foreign asset held

in an account in USD

Nonretirement Accounts

Debit Card and ATM Fees There is no annual fee for the Fidelity

Debit Card or the Fidelity HSA

debit card. You may be charged separate

fees by other institutions, such as the owner of the ATM. Note: You cannot

use the Fidelity HSA

debit card at an ATM.

For Fidelity Account

owners coded Premium, Private Client Group,

Wealth Management, or with household annual trading activity of 120 or

more stock, bond, or options trades, your account will automatically be

reimbursed for all ATM fees charged by other institutions while using the

Fidelity

Debit Card at any ATM displaying the Visa

, Plus

or Star

logos.

The reimbursement will be credited to the account the same day the ATM

fee is debited. In rare instances, ATM owners may not itemize fees, which

may cause disruption of individual automatic rebates. Should this occur,

please contact Fidelity. Please note there may be a foreign transaction

fee of 1% included in the amount charged to your account.

Fidelity debit cards are issued by PNC Bank, N.A., and the debit card

programs are administered by BNY Mellon Investment Servicing Trust

Company. These entities are not afﬁliated with each other or with Fidelity.

Visa is a registered trademark of Visa International Service Association,

and is used by PNC Bank pursuant to a license from Visa U.S.A. Inc.

Transfer and Ship Certificates $100 per certificate; applies only to

customers who have certificate shares reregistered and shipped; waived

for households that meet certain asset and trade minimums at Fidelity

HSAs

Annual fees For Fidelity HSAs that are opened through, or serviced by,

an intermediary, or in connection with your workplace benefits, Fidelity

may deduct:

• an administrative fee of up to $12 per quarter ($48 annually) from

your Fidelity HSA, unless it is paid by your employer (may be waived

for households that were established before a certain date and meet

certain asset minimums at Fidelity).

Fee and Trading Policies

Commissions will be charged per order. For commission purposes,

orders executed over multiple days will be treated as separate

orders. Unless noted otherwise, all fees and commissions are

debited from your core account.

Fee Waiver Eligibility

To determine your eligibility for fee waivers, we group the assets

and trading activity of all of the eligible accounts shown on your

periodic account statement.

Eligible accounts generally include those maintained with

Fidelity Service Company, Inc., or FBS [such as 401(k), 403(b), or

457 plan assets] or held in Fidelity Investments Life Insurance

Company accounts, Fidelity Portfolio Advisory Service

or Fidelity

Personalized Portfolios accounts. Assets maintained by Fidelity

Personal Trust Company, FSB, are generally not included. We may

include other assets at our discretion.

We will review your account periodically to confirm that your

household is receiving the best fee waivers it qualifies for, and

may change your fee waiver eligibility at any time based on

these reviews. We update fee waiver eligibility across household

accounts promptly after a daily review of trading activity, and

monthly after a review of household assets. All trading activity is

measured on a rolling 12-month basis.

If you believe there are eligible accounts within your household

that are not being counted in our fee waiver eligibility process —

for example, accounts held by immediate family members who

reside with you — you may authorize Fidelity to consolidate these

accounts into an aggregated relationship household and review

them for eligibility. Any resulting fee waivers would extend both

to you and to all immediate family members residing with you.

Most customers receive only a single customer reporting statement

from Fidelity and do not need to take any action. However, for

more information, go to Fidelity.com/goto/commissions or

call us at 800-544-6666.

Limits on Feature Eligibility

Retirement accounts and Fidelity BrokerageLink

accounts cannot

trade foreign securities or sell short, are not eligible for margin

loans, and may be subject to other rules and policies. Please see

the literature for these accounts for details.

Prospectuses and Fact Sheets

Free prospectuses are available for UITs, Fidelity funds, and Fidelity

FundsNetwork

funds. Fact sheets are availab le for certificates of

deposit. To obtain any of these documents, and for other informa-

tion on any fund offered through Fidelity, including charges and

expenses, call 800-544-6666 or visit Fidelity.com.

Households with $1 million or more in assets or $25,000 or more in assets + 120 trades a year. For details, see Fee Waiver Eligibility section above.

Margin Fees

Understanding how margin charges are calculated is essential

for any investor considering or using margin. The information

below, provided in conformity with federal securities regulations,

is designed to help you understand the terms, conditions, and

methods associated with our margin interest charges.

For all margin borrowing — regardless of what you use it for — we

charge interest at an annual rate that is based on two factors: our

base rate, and your average debit balance. We set our base rate

with reference to commercially recognized interest rates, industry

conditions regarding margin credit, and general credit conditions.

The table below shows the premiums and discounts we apply to

our base rate depending on the average debit balance:

Interest Charged

Average Debit Balance Above/Below Base Rate

$0–$24,999.99 +1.250%

$25,000–$49,999.99 +0.750%

$50,000–$99,999.99 –0.200%

$100,000–$249,999.99 –0.250%

$250,000–$499,999.99 –0.500%

$500,000–$999,999.99 –2.825%

$1,000,000+ –3.075%

In determining your debit balance and interest rate, we combine

the margin balances in all your accounts except short accounts

and income accounts. We then compute interest for each account

based on the rate resulting from averaging the daily debit balances

during the interest period. Interest is charged from the date we

extend you credit.

Your rate of interest will change without notice based on changes

in the base rate and in your average debit balance. When your

interest rate is increased for any other reason, we will give you at

least 30 days’ written notice. If the base rate is stated as a range,

we may apply the high end of the range.

For any month where your monthly margin charges are $1 or more,

your monthly statement will show both the dollar amount and the

rate of your interest charges. If your interest rate changed during the

month, separate charges will be shown for each rate. Each interest

cycle begins the first business day following the 20th of each month.

Other Charges

You may be assessed separate interest charges, at the base rate

plus two percentage points, in connection with any of the following:

• Payments of the proceeds of a security sale in advance of the

regular settlement date (such prepayments must be approved

in advance)

• When the market price of a “when-issued” security falls

below your contract price by more than the amount of your

cash deposit

• When payments for securities purchased are received after the

settlement date

How Interest Is Computed

Interest on debit balances is computed by multiplying the average

daily debit balance of the account by the applicable interest rate

in effect and dividing by 360, times the number of days a daily

debit balance was maintained during the interest period.

Marking to Market

The credit balance in the short account will be decreased or

increased in accordance with the corresponding market values

of all short positions. Corresponding debits or credits will be posted

to the margin account. These entries in the margin account will, of

course, affect the balance on which interest is computed. Credits in

your short account, other than marking to market, will not be used

to offset your margin account balance for interest computation.

459374.60.0 FA-FEES-1219

1.828131.158

FACTS

What do Fidelity Investments

and the Fidelity Funds do with

your personal information?

WHY? Financial companies choose how they share your personal information. Federal law gives consumers the right

to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect

your personal information. Please read this notice carefully to understand what we do.

WHAT? The types of personal information we collect and share depend on the product or service you have

with us. This information can include:

Social Security number and employment information

assets and income

account balances and transaction history

When you are no longer our customer, we continue to share your information as described in this

notice.

HOW? All ﬁnancial companies need to share customers’ personal information to run their everyday business. In the

section below, we list the reasons ﬁnancial companies can share their customers’ personal information, the

reasons Fidelity Investments and the Fidelity Funds (hereinafter referred to as “Fidelity”) choose to share,

and whether you can limit this sharing.

REASONS WE CAN SHARE

YOUR PERSONAL INFORMATION

DOES FIDELITY

SHARE?

CAN YOU LIMIT

THIS SHARING?

For our everyday business purposes —

such as to process your transactions, maintain your account(s),

respond to court orders and legal investigations, or report to

credit bureaus

Yes No

For our marketing purposes —

to offer our products and services to you

Yes No

For joint marketing with other ﬁnancial companies

No We don’t share

For our afﬁliates’ everyday business purposes —

information about your transactions and experiences

Yes No

For our afﬁliates’ everyday business purposes —

information about your creditworthiness

We don’t share

For nonafﬁliates to market to you

No We don’t share

QUESTIONS? Call 800-544-6666. If we serve you through an investment professional,

please contact them directly. Speciﬁc Internet addresses, mailing

addresses, and telephone numbers are listed on your statements and

other correspondence.

Rev. 01/2020

WHO WE ARE

Who is providing

this notice?

Companies owned by Fidelity Investments using the Fidelity name to provide ﬁnancial services

to customers, and the Fidelity Funds. A list of companies is located at the end of this notice.

WHAT WE DO

How does Fidelity

protect my personal

information?

To protect your personal information from unauthorized access and use, we use security

measures that comply with federal law. These measures include computer safeguards and

secured ﬁles and buildings.

How does Fidelity

collect my personal

information?

We collect your personal information, for example, when you

open an account or direct us to buy/sell your securities

provide account information or give us your contact information

tell us about your investment portfolio

We also collect your personal information from others, such as credit bureaus, afﬁliates,

or other companies.

Why can’t I limit

all sharing?

Federal law gives you the right to limit only

sharing for afﬁliates’ everyday business purposes — information about your creditworthiness

afﬁliates from using certain information to market to you

sharing for nonafﬁliates to market to you

State laws and individual companies may give you additional rights to limit sharing.

DEFINITIONS

Afﬁliates

Companies related by common ownership or control. They can be ﬁnancial and

nonﬁnancial companies.

Fidelity Investments afﬁliates include companies with the Fidelity name (excluding the Fidelity

Funds), as listed below, and other

ﬁnancial companies such as National Financial Services LLC,

Strategic Advisers LLC, and

FIAM LLC.

Nonafﬁliates

Companies not related by common ownership or control. They can be ﬁnancial and

nonﬁnancial companies.

Fidelity does not share with nonafﬁliates so they can market to you.

Joint marketing

A formal agreement between nonafﬁliated ﬁnancial companies that together market ﬁnancial

products or services to you.

Fidelity doesn’t jointly market.

OTHER IMPORTANT INFORMATION

If you transact business through Fidelity Investments life insurance companies, we may validate and obtain information

about you from an insurance support organization. The insurance support organization may further share your information

with other insurers, as permitted by law. We may share medical information about you to learn if you qualify for coverage,

to process claims, to prevent fraud, or otherwise at your direction, as permitted by law. You are entitled to receive, upon

written request, a record of any disclosures of your medical record information. Please refer to your statements and other

correspondence for mailing addresses.

If you establish an account in connection with your employer, your employer may request and receive certain information

relevant to the administration of employee accounts.

If you interact with Fidelity Investments directly as an individual investor (including joint account holders), we may exchange

certain information about you with Fidelity Investments ﬁnancial services afﬁliates, such as our brokerage and insurance

companies, for their use in marketing products and services as allowable by law. Information collected from investment

professionals’ customers is not shared with Fidelity Investments afﬁliates for marketing purposes, except with your consent

and as allowed by law.

The Fidelity Funds have entered into a number of arrangements with Fidelity Investments companies to provide for

investment management, distribution, and servicing of the Funds. The Fidelity Funds do not share personal information

about you with other entities for any reason, except for everyday business purposes in order to service your account.

For additional information, please visit Fidelity.com.

WHO IS PROVIDING THIS NOTICE?

Fidelity Investments companies: Fidelity Brokerage Services LLC; Fidelity Distributors Company LLC; Fidelity Investments Institutional Operations

Company, LLC; Fidelity Management Trust Company; Fidelity Personal Trust Company, FSB; Fidelity Personal and Workplace Advisors LLC; Fidelity

Investments Life Insurance Company; Empire Fidelity Investments Life Insurance Company; Fidelity Insurance Agency, Inc.; National Financial

Services LLC; Strategic Advisers LLC; FIAM LLC; Fidelity Health Insurance Services, LLC.

The FIAM privately offered funds, which include funds advised by FIAM LLC and under general partner/managing member FIAM Institutional

Funds Manager, LLC.

The Fidelity Funds, which include funds advised by Strategic Advisers LLC.

NOTICE OF BUSINESS CONTINUITY

Fidelity is committed to providing continuous customer service and support; however, we recognize that there are

potential risks that could disrupt our ability to serve you. We are conﬁdent that we have taken the necessary steps that will

allow us to reduce or eliminate the impact of a business disruption.

Fidelity recognizes the responsibility we have to our customers. We have implemented a business continuity management

program with a strong governance model and commitment from senior management. Our continuity program’s primary

objectives are to meet the needs of our customers, maintain the wellbeing and safety of our employees, and meet our

regulatory obligations. The planning process is risk based and involves the understanding and prioritization of critical

operations across the ﬁrm, the anticipation of probable threats, and the proactive development of strategies to mitigate

the impact of those events.

Our continuity planning teams work closely with local governments and ofﬁcials in the event of an outage impacting our

operations. Additionally, Fidelity has identiﬁed three large scale scenarios that require particular focus: pandemics, events

impacting stock and bond market operations, and cyber events. Detailed response plans have been developed and cross-

discipline teams have been trained to address both day-to-day disruptions as well as these speciﬁc events.

Each Fidelity department has developed the capabilities to recover both operations and systems. All continuity plans

are designed to account for disruptions of various lengths and scopes, and to ensure that critical functions are recovered

to meet their business objectives. Critical business groups operate from multiple sites. Dedicated teams within our

technology organizations ensure that critical applications and data have sufﬁcient redundancy and availability to minimize

the impact of an event. Key components of Fidelity’s continuity and technology recovery planning include:

Alternate physical locations and preparedness

Alternative means to communicate with our customers

Back-up telecommunications and systems

Employee safety programs

Plans are tested regularly to ensure they are effective should an actual event occur. Fidelity’s Business Continuity Plans are

reviewed no less than annually to ensure the appropriate updates are made to account for operations, technology, and

regulatory changes. Material changes will be reﬂected in an updated “Notice of Business Continuity Plan.” You may obtain

a copy of this notice at any time by contacting a Fidelity Representative.

Effective January 2020

457270.15.0

FA-PRIV-0120

1.828133.115

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