MARV Capital Inc Customer Options Agreement

This Options Agreement (the “Agreement”) sets forth the terms and conditions pursuant to which MARV Capital Inc., its agents, successors and assigns (collectively, “MARV”, “We”, and/or “Us”), will e􏰀ect the trading of options, including but not limited to, purchase and sale of put and call options on your behalf. When used in this Agreement, the words “I”, “Me”, “My”, “Mine”, “We”, “Our”, and/or “Us” mean the owner(s) of the Account and the owner(s)’s Authorized Persons (as defined herein), as applicable.

I understand that by entering into this Agreement, I have acknowledged that this Agreement contains a pre-dispute arbitration clause in Section 17 herein.

In connection with any transaction by MARV on your behalf for the purchase and sale of put and call options, I agree and represent as follows:

1. OCC Options Risk Disclosure. I have received, and I have read and I understand, a copy of the disclosure document entitled “Characteristics and Risks of Standardized Options” (the “ODD”) and any supplement issued by the Options Clearing Corporation (the “OCC”). A current copy of the ODD is also available at https://www.theocc.com/Company-Information/Documents-and- Archives/Options-Disclosure-Document.
2. Compliance with Options Rules. All options transactions will be made in accordance with the constitution, rules, customs and practices of Financial Industry Regulatory Authority (“FINRA”), the OCC, and any other exchange or market where such transactions are executed. MARV is hereby authorized to take such action with respect to your account and the option contract(s) held therein, without notice to you, as MARV may deem necessary to comply with directives issued by any such exchanges, boards, markets and clearing houses. I am aware of and will not, either alone or in concert with others, violate the position or exercise limits of FINRA, the OCC, and any other exchange or market where your options transactions are executed, which may change from time to time.
3. Options Trading Risks. I acknowledge and accept the high degree of risks involved in options transactions, including those risks described in the ODD and in this Agreement. I hereby represent that I am financially prepared to undertake such risks and to withstand any losses caused. I agree not to purchase or sell an option unless I can sustain the total loss of the premium and the transaction costs and I am prepared to sustain substantial financial losses.
4. Options Trading Approval. I acknowledge and agree that your ability to trade options through MARV is determined in MARV’s sole discretion and based on the

information about your financial situation and needs, options trading experience, investment objectives and other relevant information provided to MARV by you. MARV has determined, based on such information, that engaging in options transactions is not unsuitable for you. I agree to advise MARV of any changes in such information that may be deemed to materially a􏰀ect the suitability of executing options transactions for your account.

5. No Recommendations or Investment Advice. I understand that your account, and any option transaction e􏰀ected therein, is self-directed by you and that MARV has not and does not make recommendations or provide investment advice. Any decisions to enter into options transactions are entirely your own, and that such decisions will be made, if at all, by you without any investment advice or recommendations by MARV. The execution of any options transactions shall not be deemed to be an approval by MARV of such transactions.
6. Options Exercise. You are fully responsible for taking action to exercise any option contract. MARV shall not be required to take action with respect to any option contract, including any action to exercise a valuable option prior to its expiration date, except upon express instructions from you. In the event that you fail to instruct MARV to exercise your long option position, you hereby authorize MARV to exercise such option and buy or sell the underlying stock for your account, at MARV’s discretion; provided, however, that MARV shall not be required to take any action with respect to such option and will not be liable, in any manner, for failure to exercise such option. If su􏰀icient assets and/or other positions in your account are not available to cover the exercise or assignment of an option, you authorize MARV to take the following actions: (a) place an order to close option positions; (b) place an order to minimize market risk (for example, if it would result in a short position or cash debit in an account not enabled for margin, result in an equity level that is below the aforementioned minimum, or if there are no shares available for a short sale); and/or (c) instruct the OCC not to exercise valuable options on or prior to the last trading day. If an option is exercised or assigned, you authorize MARV to close out the unsupported equities positions that result from the exercise. You agree to waive and to release MARV and its o􏰀icers, employees and agents from any and all claims of damage or loss, then or at a later time sustained, as a result of the exercise or nonexercise of an option contract(s).
7. Purchasing Expiring Options. On the expiration date of an equity option, MARV may (i) restrict your ability to place new opening transactions and (ii) cancel any unexecuted opening transactions. The timing of these actions may vary.

8. Allocation of Exercise and Assignment Notices. Exercise assignment notices for option contracts are allocated among MARV’s short positions pursuant to an automated procedure which randomly selects from among all of MARV’s short option positions those contracts which are subject to exercise, including positions established on the day of assignment. Additional information pertaining to the procedure used for random selection is available upon request.
9. Minimum Equity. In accordance with MARV’s internal policy, MARV may require you to carry certain minimum account balances to engage in certain options transactions as determined by MARV, in its sole discretion. This policy is subject to change at any time without notice to you. You agree not to hold MARV liable for any loss that you may sustain as a result of the enforcement of this policy.
10. Protection of MARV. You authorize MARV to hold any securities and funds in any of your accounts and use them as security for the performance of your obligations to MARV under this Agreement with respect to any open options position. If you have margin on your account, and you do not meet MARV’s margin calls promptly, MARV may, in its sole discretion and without notifying you, take any and all steps necessary to protect MARV in connection with options transactions made for your account. This may include such steps as buying or selling short any or all shares represented by options in your account, or buying, selling, exercising, or blocking the exercise of any put or call options. In such a case, you will be required to reimburse MARV for any losses and expenses that MARV incurs, including attorneys’ fees. If you become insolvent or die, or if your property is attached by others, MARV may take whatever steps it considers necessary or appropriate to protect its interests against loss. All obligations and liabilities arising under this account are joint and several, and MARV may enforce them against any or all account holders. Although MARV may use other methods when it determines they may be more appropriate, MARV reserves the right to use the provisions described in this section at any time.
11. Multiple Exchanges. Certain options may trade on more than one exchange. In the absence of specific instructions from you, MARV is hereby authorized to determine, in its sole discretion, the exchange on which to enter your order. MARV may receive remuneration for directing option orders for execution elsewhere. The source and amount of any compensation received by MARV in connection with this payment for order flow will be disclosed to you upon request.
12. Execution and Clearing Arrangements. MARV Capital routes your options orders to Alpaca Securities LLC, which acts as the executing and clearing broker. Alpaca

Securities LLC maintains all required execution, clearing, and settlement records in accordance with SEC and FINRA rules. You acknowledge that Alpaca Securities LLC’s customer agreement and policies with respect to options transactions shall also apply to your account.

13. Fees and Charges. You understand that there may be fees or charges for e􏰀ecting options transactions and certain services provided under this Agreement. You also agree to pay all applicable federal, state and local taxes. You authorize MARV to automatically debit your Account for any such fees, charges and taxes. You acknowledge that such fees or charges may change from time to time and that such changes may occur without notice to you. You agree to be bound by such changes to MARV’s fees and charges once they are posted in the fee schedule available on MARV’s Website at www.marvcapital.com.
14. Limitations of MARV’s Responsibilities. You agree that MARV is 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:

a. 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.

b. Cancellation of an accepted/executed trade in which MARV reasonably 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.

c. Investment decisions or instructions placed on your account, or other such actions attributable to you or any authorized person.

d. Occurrences related to governments or markets, such as restrictions, suspensions of trading, or high market volatility or trading volumes.

e. Uncontrollable circumstances in the world at large, such as wars, earthquakes, power outages, pandemics or unusual weather conditions.

f. 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.

g. With respect to electronically provided market data or other information 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 information), regardless of who or what has caused it to occur.

h. The storage and use of information about you and your account(s) by MARV’s systems and transmission of this information between you and MARV; these activities occur entirely at your risk.

i. The usage of information received by you or MARV through any electronic services.

j. Di􏰀iculties receiving information or accessing your account that are due to the equipment you use, including di􏰀iculties resulting from technical incompatibilities, malfunctions, inherent limitations, or interruptions in service.

15. Indemnification. You agree to indemnify MARV from, and hold MARV harmless for, any losses (as defined in Section 14 above) 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 agreements and payments for these are your responsibility. Rates and terms are set by the service providers and are not MARV’s responsibility. You agree that beyond taking reasonable steps to verify the authenticity of instructions, MARV has no obligation to inquire into the purpose, wisdom, or propriety of any instruction it receives.

16. Governing Law. This Agreement and all transactions in your account shall be governed by the laws of the State of New York (regardless of the choice of law rules thereof), except to the extent governed by the federal securities laws, FINRA Rules, and the regulations, customs and usage of the exchanges or market (and its clearing house) on which transactions are executed.

17. Arbitration.

a. This Agreement contains a pre-dispute arbitration clause. By signing an arbitration agreement, the parties agree as follows.

i. 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.

ii. Arbitration awards are generally final and binding; a party’s ability to have a court reverse or modify an arbitration award is very limited.

iii. The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings.

iv. 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 calendar days prior to the first scheduled hearing date.

v. The panel of arbitrators will typically include a minority of arbitrators who were or are a􏰀iliated with the securities industry.

vi. 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 to court.

vii. The rules of the arbitration forum in which the claim is filed, and any amendments thereto, shall be incorporated into this Agreement.

b. Any controversy or claim arising out of or relating to this Agreement shall be settled by arbitration in accordance with the rules of FINRA Dispute Resolution, Inc. (“FINRA DR”). The Director of Dispute Resolution Services will decide which of FINRA’s hearing locations will be the hearing location for the arbitration.

c. This agreement to arbitrate constitutes a waiver of the right to seek a judicial forum unless such a waiver would be void under the federal securities laws. If you are a foreign national, non-resident alien, or if you do not reside in the United States, you agree to waive your right to file an action against MARV in any foreign venue.

d. No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class 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; 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.

18. Miscellaneous.

a. This Agreement and the rights and obligations arising out of the options transactions executed pursuant hereto may not be assigned without the prior written consent of the other party, other than by MARV as part of a general transfer of your business.

b. Any agreement between MARV and you, whether previously or hereafter made applicable to any account of yours held with MARV, shall also apply to option transactions e􏰀ected under this Agreement except to the extent to which it conflicts with this

Agreement. In the event of a conflict, this Agreement shall control, and where there is no conflict, each provision of each Agreement shall apply.

c. The provisions of this Agreement shall apply to all put options, call options, or other options which may have been previously purchased, sold, executed, handled, endorsed or carried for your account and shall also apply to all put options, call options or other options which MARV may hereafter purchase, sell, handle, endorse or carry for your account and shall inure to the benefit of MARV as now or hereafter constituted.

d. This Agreement may be written in both English and translated into other languages. The English version of this Agreement shall be deemed the o􏰀icial version of this Agreement. Any translation is provided for convenience purposes only. In case there is any discrepancy between the two versions, the English one shall prevail.

e. MARV may at any time amend this Agreement without prior notice to you. The current version of the Agreement will be posted on MARV’s website (www.marvcapital.com) and your continued account activity after such amendment constitutes your agreement to be bound by all then in e􏰀ect amendments to the Agreement, regardless of whether you have actually reviewed them. Continued use of your account, MARV’s website, or any other MARV services after such posting will constitute your acknowledgment and acceptance of such amendment. You agree to regularly consult the MARV website for up-to-date information about MARV services and any modifications to this Agreement. MARV is not bound by any verbal statements that seek to amend the Agreement.

f. Trust, Entity, or Business Accounts. If your account is a trust, entity or business, you represent and warrant that (i) the trust, entity, or business named on the form is authorized by its organizational or formation documents to transact in the option strategies contemplated by the form and this Agreement; (ii) you are authorized to complete and sign the form and this Agreement on behalf of such trust, entity, or business; (iii) you are authorized to exercise investment discretion, make investment decisions, and place trades on behalf of such trust, entity, or business; and (iv) the transactions contemplated by the form and this Agreement will not result in a breach of (a) the organizational or formation documents of such trust, entity, or business; or (b) the laws governing such trust, entity, or business; or (c) the agreements to which such trust, entity, or business is subject.

g. The heading of each provision hereof is for descriptive purposes only and shall not be (1) deemed to modify or qualify any of the rights or obligations set forth herein or (2) used to construe or interpret any of the provisions hereunder.

I acknowledge that this Agreement contains a pre-dispute arbitration clause in Section 17.

BY ELECTRONICALLY SIGNING BELOW (OR IN SUCH OTHER ELECTRONIC MEDIUM AS DETERMINED BY MARV), I AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT.

CUSTOMER SIGNATURE: _________________________ DATE: _____________ PRINTED NAME: _________________________
ACCOUNT NUMBER: _________________________
ACCEPTED BY MARV CAPITAL INC.

AUTHORIZED OFFICER: _________________________ DATE: _____________