TERMS AND CONDITIONS FOR USE OF CBOE WEBSITES

CBOE WEBSITE USERS MUST READ THESE TERMS AND CONDITIONS OF USE PRIOR TO THEIR USE OF THIS WEBSITE.

A user's continuing access or use of a World Wide Website ("Website") of Chicago Board Options Exchange, Incorporated ("CBOE") signifies the USER'S ACCEPTANCE OF THESE TERMS AND CONDITIONS FOR USE OF THE WEBSITE ("Terms"). From time to time, CBOE reserves all rights to modify the Terms of the Website. Accordingly, a user should continue to review the Terms whenever accessing or using the Website. A user's access or use of the Website after the posting of modifications to these Terms will constitute such user's acceptance of the Terms, as modified. If a user refuses to accept the Terms, such user may not use the Website. Any terms and conditions proposed by a user which are in addition to or which conflict with these Terms are expressly rejected by CBOE and shall be of no force or effect.

1. CONSENT TO TERMS AND CONDITIONS FOR USE. You, as a Website user, represent that you have read, understand, and agree to be bound by the Terms for the Website. You also agree (a) that you signify your acknowledgment and assent to the Privacy Statement and Policy for the Website (Click here to see our Privacy Statement & Policy), (b) that your use of the Website is subject to all applicable international, federal, state, and local laws, (c) not to use the Website for illegal purposes, and (d) not to interfere with or disrupt the Website or networks connected to the Website.



2. COPYRIGHTS, TRADEMARKS, SERVICE MARKS, AND PROPRIETARY RIGHTS. The design of, as well as the materials, content, text, graphics, and information contained in, the Website ("Materials") are owned, licensed, or controlled by CBOE or the party credited as the owner, licensor, or provider of such Materials. The Materials on the Website, including, but not limited to all menu pages, content, text, video, audio and graphics are protected by copyrights, trademarks, service marks, and/or other proprietary rights and laws of the United States and other countries. The Website is also protected as a collective work or compilation under United States copyright and other laws. You agree to comply with all applicable copyright and other laws. You agree to comply with any guidelines for linking to the Website that may be posted on the Website. You may view, print and download one copy of the contents for your personal noncommercial use, provided, you maintain all copyright, trademark and other notices contained on the Materials. You may not otherwise copy, reproduce, alter, store either in hard copy or in an electronic retrieval system, license, transmit, display, broadcast, create a derivative work from, publish, rent, sublicense, distribute, or otherwise use in whole or in part in any other manner the Materials without CBOE's prior written consent except to the extent that such use constitutes "fair use" under the "Copyright Act of 1976", as amended from time to time. Request for such consent must be made in writing and should be mailed to Chicago Board Options Exchange, Attention: Internet Marketing, 400 S. LaSalle Street, Chicago, IL 60605; or you may send an e-mail via the "Contact CBOE" form located at http://www.cboe.com/Contact.



3. DISCLAIMERS. Although the contents provided on the Website have been obtained from sources believed to be reliable, they are provided to you on an "AS IS" basis. CBOE makes no warranties, either expressed, implied, or statutory including, but not limited to warranties of merchantability, fitness for a particular purpose, accuracy, timeliness, completeness, or non-infringement to users and/or any third party. You acknowledge that (a) the Materials are provided for general informational and educational purposes only and are not intended for trading purposes, (b) that CBOE does not guarantee the accuracy, completeness or timeliness of the Materials provided on the Website or any linked website, and (c) that the provision of certain portions of the Website is subject to the terms and conditions of other agreements to which CBOE is a party. ACCORDINGLY, CBOE, ITS OFFICERS, DIRECTORS, MEMBERS, EMPLOYEES, AFFILIATES, SUBSIDIARIES, AGENTS, THIRD PARTY SUPPLIERS AND OWNERS OF MATERIALS, AND ASSIGNS SHALL NOT BE RESPONSIBLE OR LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, LOST PROFITS OR LOST OPPORTUNITIES, WHETHER OR NOT CBOE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES FOR (i) ANY ERRORS OR OMISSIONS IN THE MATERIALS OR OTHER RESOURCES AND DOCUMENTS WHICH ARE REFERENCED BY OR LINKED TO THE MATERIALS; (ii) ANY DELAYS, ERRORS OR INTERRUPTIONS IN THE TRANSMISSION OF ANY INFORMATION; OR (iii) LOSS OR DAMAGE ARISING THEREFROM OR OCCASIONED THEREBY, OR BY ANY REASON OF NONPERFORMANCE. THE FOREGOING SHALL APPLY REGARDLESS OF WHETHER A CLAIM ARISES IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE.



4. WEBSITE DISCLAIMER. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on the Website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the Website information. CBOE assumes no responsibility for any errors or omissions in the Website information. No statement within the Website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the Website should not be construed as an endorsement or an indication of the value of any product, service, or website.



5. REPRESENTATIONS. You represent, warrant and covenant that: (a) you have the power, competence and authority to enter into this agreement; (b) you are at least eighteen (18) years old; (c) you shall not use any rights granted hereunder for any unlawful purpose; and (d) you shall use the Website only as set forth in the Terms.



6. INDEMNIFICATION. You agree, at your expense, to indemnify, defend and hold harmless CBOE, its officers, directors, members, employees, affiliates, subsidiaries, agents, third party suppliers and owners of Materials, and assigns from any and all claims, suits, actions, or other proceedings based on or arising in connection with the Website or any links on the Website, including, but not limited to: (a) a violation of the Terms by you or any other person using your computer (or account); (b) your use of the Website; (c) a claim that any use of the Website by you or any other person using your computer (or account) infringes any intellectual property rights of any third party, or any right of publicity or privacy, is libelous or defamatory, or otherwise results in injury or damage to any third party; (d) any deletions, additions, insertions or alterations to, or any unauthorized use of, the Website by you or any other person using your computer (or account); (e) any misrepresentation or breach of representation or warranty made by you contained herein; or (f) any breach of any covenant or agreement to be performed by you hereunder. CBOE's cooperation in such defense is made without waiver of any attorney-client, work-product, or other legal privileges. You agree to be responsible and liable for any and all costs, damages and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim.



7. TERMINATION. Either you or CBOE may terminate the Terms with or without cause at any time and effective immediately. You may terminate the Terms by discontinuing the use of the Website and destroying all materials obtained from the Website. These Terms will terminate immediately without notice from CBOE if CBOE determines that you have failed to comply with any provision of these Terms. CBOE reserves the right to seek all remedies available at law and in equity for your violation of these Terms. Upon termination by you or upon notice of termination by CBOE, you must destroy promptly all Materials obtained from the Website. Sections two through six (2 - 6) and eight through ten (8 - 10) shall survive any termination of the Terms.



8. GOVERNING LAW. The Terms shall be governed and construed in accordance with the laws of the United States and the State of Illinois, without giving effect to conflicts of law principles thereof. You agree to submit to the personal jurisdiction of the state and federal courts located in Cook County in the State of Illinois with respect to any legal proceedings that may arise in connection with the Website or from a dispute as to the interpretation or breach of the Terms.



9. SEVERABILITY. If any provision of the Terms is found invalid or unenforceable, that provision will be enforced to the maximum extent permissible, and the other provisions of these Terms will remain in force.



10. ENTIRE AGREEMENT. The Terms and any other CBOE terms and conditions for use of the Website, and its successor Websites, constitute the entire agreement between you and CBOE and govern your use of the Website.