Representative ID # Office ID # REPRESENTATIVE …

1 REPRESENTATIVE ID # _____ Office ID # _____ REPRESENTATIVE agreement F150 1 1 12 LPL FINANCIAL LLC Page 1 Member FINRA / SIPC This agreement is entered into between LPL Financial LLC ( LPL ) and _____ ( REPRESENTATIVE ). REPRESENTATIVE shall hereinafter be defined as an individual who has been accepted as a Registered REPRESENTATIVE and, upon election and licensing, as an Investment Advisor REPRESENTATIVE and Insurance REPRESENTATIVE for the limited purposes set forth below. This agreement is effective _____. 1. LPL S OBLIGATION. LPL: (A) Is not obligated to provide any services to REPRESENTATIVE (such as clerical assistance, Office expense, postage, telephone costs, or other expenses) unless LPL and the REPRESENTATIVE agree on such services and REPRESENTATIVE pays for such services.

2 (B) In its capacity as Broker/Dealer: (1) Hereby appoints the REPRESENTATIVE as a limited agent to solicit purchases of securities and investments offered through LPL in its capacity as a broker/dealer. (2) Shall pay the REPRESENTATIVE Commissions from transactions generated by him/her as such Commissions are hereinafter defined and set forth in Schedule A attached. With respect to general securities including stocks, bonds, options, certificates of deposit, government and government agency securities where Commissions are negotiable, Commissions shall be defined as the amount of compensation determined by LPL to be reallowed to the REPRESENTATIVE .

3 With respect to all other securities, Commissions shall be defined as the amount of compensation which LPL is contractually entitled to receive as commissions under the applicable selling agreement and reallows to the REPRESENTATIVE . Payments hereunder shall be made only with respect to Commissions LPL actually receives while REPRESENTATIVE is registered with LPL. No payment shall be made to the REPRESENTATIVE unless he/she was registered with LPL on the date of the transaction. LPL reserves the right to require any Commission payments to be refunded by the REPRESENTATIVE to the customer if it determines that this is appropriate after a review of the circumstances of the sale.

4 (C) In its capacity as an Investment Advisor: (1) Hereby appoints the REPRESENTATIVE as its limited agent to solicit purchases of products and services offered through LPL in its capacity as an investment advisor. (2) Shall pay the REPRESENTATIVE a portion of the fees from accounts generated by him/her as such fees are hereinafter defined and set forth in Schedule B attached. Payments hereunder shall be made only with respect to advisory fees LPL actually receives while REPRESENTATIVE is registered with LPL. No payments shall be made to the REPRESENTATIVE unless he/she was registered with LPL on the date the advisory fee was earned.

5 LPL reserves the right to require any advisory fee payments to be refunded to the customer if it determines that this is appropriate or required by law or contract with the customer. (D) In its capacity as an Insurance Agency: (1) Hereby appoints the REPRESENTATIVE as a limited agent to solicit purchases of insurance products offered through LPL in its capacity as an Insurance Agency. (2) Shall pay the REPRESENTATIVE Commissions from insurance transactions generated by him/her as such. Commissions are defined and set forth in Schedule E attached. Payments hereunder shall be made only with respect to insurance Commissions LPL actually receives while REPRESENTATIVE is registered with LPL.

6 No payments shall be made to the REPRESENTATIVE unless he/she was registered with LPL on the date of the transaction. LPL reserves the right to require any insurance Commission payments to be refunded to the customer if it determines that this is appropriate or required by law or contract with the customer. 2. THE REPRESENTATIVE S OBLIGATION. THE REPRESENTATIVE : (A) Shall pay any balance owing to LPL within ten (10) business days of receipt of LPL s statement unless other arrangements are made in writing with the Chief Financial Officer of LPL. Any balances outstanding after twenty (20) business days from receipt of such statement shall accrue interest at the prime rate plus 2%.

7 LPL shall retain the right to reduce a REPRESENTATIVE s payout of Commissions and/or advisory fees by the amount of any outstanding balance owed to LPL by the REPRESENTATIVE . (B) Shall pay all expenses of the REPRESENTATIVE s business and conduct such business in accordance with the rules and regulations of the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the National Futures Association (NFA), the Commodity Futures Trading Commission (CFTC), the Municipal Securities Rulemaking Board (MSRB), any state agencies regulating the REPRESENTATIVE s activities and the policies of LPL, and shall not conduct business or receive funds until fully licensed as required by such laws.

8 The REPRESENTATIVE shall acknowledge receipt of, read and abide by LPL procedures set forth in writing from time to time. (C) Shall not mail any correspondence, make any communication or use any advertising except in accordance with LPL policies and procedures set forth in writing from time to time. Representatives shall follow the procedures outlined by LPL for proper handling of incoming correspondence. The REPRESENTATIVE shall provide copies of such correspondence, communication and advertising to LPL in accordance with FINRA regulations and LPL procedures set forth in writing from time to time.

9 (D) Agrees that all checks from customers shall be made payable to LPL or to the underwriter, investment company or insurance company designated by LPL in connection with the transactions. No cash payments from customers shall be accepted by a REPRESENTATIVE . REPRESENTATIVE agreement F150 1 1 12 LPL FINANCIAL LLC Page 2 Member FINRA / SIPC (E) Agrees to indemnify LPL and hold it harmless from any loss, cost or liability, including attorney s fees and costs, which result from the REPRESENTATIVE s negligence, violation of securities rules or regulations, including federal and state investment advisory rules and regulations, or other misconduct.

10 Attorney s fees, adverse settlements and/or judgments imposed on the REPRESENTATIVE and/or LPL where fault is not determined by a court of proper jurisdiction or a duly appointed arbitration panel, shall be shared by LPL and the REPRESENTATIVE in the same proportion as the commissions and fees on transactions or accounts such as the one in dispute were shared. The REPRESENTATIVE shall notify LPL promptly of any investigations, proceedings, customer complaints or similar matters. (F) Shall not act in any manner whatsoever as an agent for any individual or company competitive in any respect with LPL.