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Questions? Go to Fidelity.com/margin.

Margin — Nonretirement — Brokerage

Use this margin election to request to add margin to an existing trust or business 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 margin election, you acknowledge that: Regarding this account:
•T
 rading on margin lets you borrow money using securities you  he following account types are not eligible for margin:
•T
already own as collateral to purchase additional securities, sell – 529 College Savings Plans
securities short, protect your account from overdraft, or access a
– ABLE Accounts
convenient line of credit.
– Cash Management Accounts (CMA)
•M
 argin can involve significant costs and risks and is not
appropriate for all investors. Account owners must determine – Custodial accounts (UGMA/UTMA)
whether margin is consistent with their investment objectives, – Estate accounts
income, assets, experience, and risk tolerance. No investment or
– Fidelity managed accounts
use of margin is guaranteed to achieve any particular objective.
– Fiduciary accounts (guardian and conservator)
•F
 idelity Brokerage Services LLC (“FBS”) will perform brokerage
and administrative services. – Investment Club accounts
• National Financial Services LLC (“NFS”) will provide – Mutual Fund Only accounts
administrative, clearing, custody, and margin credit services. – Pledge accounts
• FBS, NFS, and their affiliates are together referred to herein  or accounts with identical registrations, only one of the
•F
as “Fidelity.” accounts with the same registration is eligible for margin.
• The Fidelity Account Customer Agreement (“Customer •M
 argin will not be granted if Fidelity determines that you reside
Agreement”) and other available resources contain important outside of the United States.
information explaining the risks and other significant
implications of adding margin to your account.
• In this margin election, “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.

1. Account Information
Complete a separate Account Number
margin election for
each account to
which you want to Trust or Entity Name If applicable
add margin.

Provide all Trustee First Name Middle Name Last Name

or Entity Authorized
Individual names.
All must sign in First Name Middle Name Last Name
Section 2.

Phone number may First Name Middle Name Last Name

be used if we have
questions, but will not
be used to update your First Name Middle Name Last Name
account information.

Primary Phone

Form continues on next page.

1.531841.123 Page 1 of 2 004050901

2. Account Owner Signatures and Dates ALL Trustees or Entity Authorized
Individuals 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 (1–2) to Fidelity.
By signing below, you:
• Authorize Fidelity to extend margin credit • Hereby authorize Fidelity to hypothecate reporting or record-keeping services for
on the account identified in Section 1 to (lend) or rehypothecate, either separately the plan. As such, you will be responsi-
the name(s) listed on this margin election. or with the property of others, either to ble for the IRS Form 990-T filing related
• Affirm that you have reviewed, understood, Fidelity or to others, any property Fidelity to the purchase of securities on margin
and agreed to be bound by the terms and may be carrying for you on margin or within the account.
conditions of the Customer Agreement, this otherwise extending credit. This authoriza- – In addition, to risks generally applicable
margin election, and the Schedule of Fees tion applies to all of your margin accounts to margin borrowing, a tax-advantaged
(which is incorporated into the Agreement Fidelity carries and shall remain in force retirement account poses additional
by reference and legally forms a part of until Fidelity receives written notice of risks, including the following: 1) using
that document), as is currently in effect and revocation of margin privileges. account assets to satisfy margin calls
as may be amended in the future. It shall • Acknowledge that if you are adding margin reduces tax-advantaged savings,
inure to the benefit of Fidelity’s successors to an Investment-Only Retirement Account, 2) annual contribution limits might restrict
and assigns, whether by merger, consoli- you, as trustee, have read and understand a plan trustee’s ability to satisfy margin
dation, or otherwise. Fidelity may transfer the following points: calls, and 3) debt-financed investment
your account to its successors and assigns, – It is your responsibility to ensure that income within a tax-advantaged account
and the Customer Agreement shall be all account transaction and investment can generate unrelated business
binding upon your heirs, executors, instructions provided are in accordance taxable income (UBTI). You are strongly
administrators, successors, and assigns. with the underlying plan and trust. encouraged to consult your tax or
• Certify that all information provided in this – As Fidelity is not the sponsor or trustee benefits advisor prior to using margin
form is true, accurate, and complete. of your plan, we do not provide any tax borrowing on this account.

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 and understand this clause will apply to any
margin-related dispute that may arise.

PRINT OWNER NAME PRINT OWNER NAME

OWNER SIGNATURE OWNER SIGNATURE

X X
SIGN
SIGN

TODAY’S DATE MM/DD/YYYY TODAY’S DATE MM/DD/YYYY

X X
DATE
DATE

PRINT OWNER NAME PRINT OWNER NAME

OWNER SIGNATURE OWNER SIGNATURE

X X
S IG N
S IGN

TODAY’S DATE MM/DD/YYYY TODAY’S DATE MM/DD/YYYY

X X
DATE
DATE

Submit
Complete, sign, and attach all necessary documents. 1. Scan or take a digital photo of the ENTIRE form and all
Be sure to complete the form and sign it. necessary supporting documents.
Questions? Go to Fidelity.com/margin. 2. V
 isit Fidelity.com/upload to submit your files or photos.
You will receive a confirmation of your updates.

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. 427177.13.0 (08/22)

1.531841.123 Page 2 of 2 004050902

Fidelity Brokerage Services CUSTOMER RELATIONSHIP SUMMARY
Effective as of March 28, 2023.
Fidelity Brokerage Services LLC (“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 to retail investors, including for personal and retirement investing,
and cash management services (such as bill pay, checkwriting, and margin lending). FBS accounts 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 funds of
sponsors or investment managers who compensate us. 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, placing orders, and monitoring your account. 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. Investment advisory services
are provided through our affiliated investment advisers, including Fidelity Personal and Workplace Advisors
(“FPWA”) and Fidelity Institutional Wealth Adviser LLC (“FIWA”), typically for a fee, and documents
describing these advisory services can be found at Fidelity.com/information, including the FPWA and FIWA
client relationship summaries.
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 will not provide recommendations or monitor your
investment decisions, or your intermediary, for you. Some intermediaries limit the investment products
and services available to you. Please contact us or your intermediary for more information on the available
services and investments, conflicts of interest, and any fees you will pay.

Conversation Starters. Ask your FBS financial professional:

• 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
for U.S. stocks, ETFs, options, new issue bonds and certificates of deposit (“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, as online commissions may apply.
There is no transaction fee or sales load (which is a fee charged on your investment at the time you buy
a mutual fund share) for either 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, insurance products, and similar investment products typically
charge their own separate management fees and other expenses in addition to any fees charged by FBS.
When commissions apply, you will be charged more when there are more trades in your account, and FBS
therefore has an incentive to encourage you to trade more often and in larger amounts. FBS will also collect
fees for margin loans based on current interest rates and your average margin loan balance.

1
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. Information about brokerage fees and costs for different
account types, products and services is available at Fidelity.com/information.

Conversation Starter. Ask your FBS financial professional:

• 
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, sponsor, or refer you to, such as a Fidelity mutual fund, ETF, or managed account.
This creates an incentive for us to recommend our investment products over those offered by another
company.
• FBS earns more on your investments in some third-party funds and ETFs, including through fees
and other compensation (including sales loads, 12b-1 fees, maintenance fees, start-up fees and
infrastructure support) paid by the fund, its investment adviser or an affiliate to FBS. This creates an
incentive for us to recommend these products over others.
• For investments that we buy from you or sell to you for or from our own accounts (“principal trades”),
we can earn more than when we buy and sell investments for your account in the open market
(“agency trades”). This creates an incentive to execute trades with our own accounts rather than in the
open market.
For further details on these conflicts, see Fidelity.com/information.

Conversation Starter. Ask your FBS financial professional:

• 
How might your conflicts of interest affect me, and how will you address them?

How do your financial professionals make money?

FBS representatives also work for our affiliates, including FPWA or FIWA, for a salary and either an annual
bonus or variable compensation. In some cases, they earn more from some products and services (including
certain investment advisory services) than from others. In such cases, our representatives have an incentive
to recommend that you select a program or product that pays them more compensation than those that
will pay them 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.
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 or FIWA, 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, call 1.800.FIDELITY (1-800-343-3548).

Conversation Starter. Ask your FPWA financial professional:

• 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?

Scan for more information

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
© 2023 FMR LLC. All rights reserved.
919925.9.01.9898973.103
2
Fidelity Personal and Workplace Advisors LLC CLIENT RELATIONSHIP SUMMARY
Effective as of March 28, 2023.
Fidelity Personal and Workplace Advisors LLC (“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, the retail investor, 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 to retail investors 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 (not FPWA) 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 and maintain an advisory account in most of our programs.
Current account minimums are described at Fidelity.com/information. (Retail advisory offerings available
through Fidelity Personal and Workplace Advisors.) In some of our programs, you can only invest in Fidelity
mutual funds and ETPs; in other programs, a significant percentage to substantially all of your account will
be invested in Fidelity mutual funds and ETPs, depending on the investment strategy you select.
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 retail advisory offerings, please see documents under the heading
“Fidelity retail investment advisory services” at Fidelity.com/information. Specifically, you should review
FPWA’s Form ADV Part 2A Brochure. Our affiliated broker-dealer, Fidelity Brokerage Services LLC
(“FBS”), also offers brokerage accounts and services to retail investors, as described in the FBS Form CRS
accompanying this document. Please see Fidelity.com/information.

Conversation Starters. Ask your FPWA financial professional:

• 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 after the end of each
quarter. 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. The following fees
are in addition to the wrap program fees: (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.
1
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, specifically, FPWA’s Form ADV Part 2A Brochure.

Conversation Starter: Ask your FPWA financial professional:

• 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 typically earn more when you invest in a product that we or one of our affiliates
advise, manage, sponsor, or refer you to, such as a Fidelity mutual fund or ETP. This creates an
incentive for us and our affiliates to recommend and invest your assets in our investment products
over those offered by another company.
• FPWA or its affiliates earn more on your investments in some third-party funds and ETPs, and
therefore have an incentive to recommend and invest your assets in these funds and ETPs
over others.
• Our investment advisory programs charge different fees. This creates an incentive for us or our
affiliates to recommend advisory programs that pay us or our affiliates higher fees over other
programs.

Conversation Starter: Ask your FPWA financial professional:

• How might your conflicts of interest affect me, and how will you address them?

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

How do your financial professionals make money?
FPWA representatives also work for 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 will pay them 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.

Conversation Starter: Ask your FPWA financial professional:

• As a financial professional, do you have any disciplinary history? For what type of conduct?

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 . To request up-to-date information, the latest Form
CRS, or a hard copy of materials that are hyperlinked above, call 1.800.FIDELITY (1-800-343-3548).

Conversation Starter: Ask your FPWA financial professional:

• 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?

Scan for more information

© 2023 FMR LLC. All rights reserved.

920069.4.01.9898522.103

2
 The Fidelity Account
CUSTOMER AGREEMENT AND ADDITIONAL INFORMATION
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.

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
FIDELITY ACCOUNT® CUSTOMER AGREEMENT

Things to Know
About This Agreement
Before Using Your Account Fidelity’s Commitments to You
The information in this box is only a summary. Please read the Under this Agreement, Fidelity has certain rights and responsibilities.
complete Agreement for more complete information. When we accept your account application, we are agreeing to serve
as your broker and to maintain an account for you. We agree, subject
Using your brokerage account involves risks, to our acceptance of an authorized order, to buy, sell, or otherwise
dispose of, or acquire, securities for you according to your instructions.
for which you assume full responsibility. We also agree to provide, or acquire, various services and features, as
As the account owner, you are fully responsible for monitoring described on the following pages.
your account and for all investment decisions and instructions
concerning your account. Unless we have contractually agreed Your Commitments to Fidelity
otherwise, we have no responsibility for monitoring your account Many of these commitments are spelled out more completely on
or your investment decisions, even if your decisions were the following pages, but in general, when you sign the account
based on our recommendations. Additionally, unless we have application, you agree:
contractually agreed otherwise, your account is a brokerage • to accept full responsibility for the content and accuracy of all
account and not an investment advisory account subject to the authorized instructions placed on your account, and for all results
Investment Advisers Act of 1940. and consequences of these instructions, including all investment
Placing orders during times when markets are volatile can decisions, trading orders, tax consequences, and instructions placed
be risky. by you or any other person you authorize
• to pay all fees, charges, and expenses incurred on your account, in
Before you start using your account or any account feature,
accordance with the provisions of this Agreement and the fee schedule
it’s essential that you understand the terms, conditions, and in effect at the time (a current schedule is attached hereto and incorpor-
policies that apply. You should also understand your relationship ated herein); for services we perform at your request that are not
with Fidelity, as described herein and in the FBS Form CRS, covered in our current fee schedule, you agree to pay the applicable fee
as well as the conflicts of interest that exist as described in the • to maintain enough assets in your account to satisfy all obligations
Products, Services, and Conflicts of Interest disclosure docu- as they become due, and to understand that we may take whatever
ment, available online at Fidelity.com/Reg-BI-Master-Disclosure. steps we consider necessary to resolve unpaid debts or other
A joint owner or any one of multiple trustees can place any obligations
order in a joint account or trust account (including removing • to use the account and its features according to this Agreement and
all of the assets) without the approval of the other owner(s) or for your own personal purposes only
trustee(s) and without any obligation on Fidelity’s part to question • to conduct business with Fidelity and its affiliates electronically,
the action. which necessarily includes having your personal financial information
transmitted electronically, and to electronic delivery of all documents
There are certain situations in which it is (including your initial notice of our privacy policy) and communica-
tions related to this account and all your other Fidelity accounts as
essential that you get in touch with us. detailed in the Electronic Delivery Agreement, which is incorporated
You need to tell us immediately if any of the following occur: herein by reference. Since, electronic (including wired and wireless)
• You notice anything incorrect or suspicious concerning your communications may not be encrypted, you acknowledge that there
is a risk that data, including email, electronic and wireless communi-
orders, account activity, or statements.
cations, and personal data, may be accessed by unauthorized third
• Your financial circumstances or goals change. parties when communicated between you and Fidelity or between
• You become subject to laws or regulations concerning you and other parties
corporate insiders, the reporting of certain investments, • to provide and maintain as current both your mobile phone number
or employment in the securities industry. and email address as both are required for account security, trans-
actional alerts, and delivery of other communications. You consent to
Fidelity’s use of your email address and/or mobile phone number to
Disputes between you and Fidelity are message, call, or text you for these purposes. Message and data rates
settled by arbitration. apply and frequency may vary. For help with texts, reply HELP. To opt
As with most brokerage accounts, the parties agree to waive out of texts, reply STOP. You acknowledge that you can update your
their rights to sue in court, and agree to abide by the findings of contact information through your profile on Fidelity.com.
an arbitration panel established in accordance with an industry • to keep secure your account number, username, and password, and
self-regulatory organization. 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
How to Contact Us • to let us create a digital representation of your voice—a “voiceprint”
For matters concerning your account, including questions, —that may be used for verifying your identity when you contact Fidelity
changes, and notification of errors, reach us: • to let us verify the information you provide and obtain credit reports
and other credit-related information about you at any time, such as
By Phone In Writing payment and employment information (whether for margin or any
800-544-6666 Fidelity Investments other purpose), and to permit any third-party financial service provider
to do likewise
Online Client Services
PO Box 770001 • to resolve disputes concerning your relationship with us (other than
Fidelity.com Cincinnati, OH 45277-0045 class actions) through arbitration rather than in a court of law
• if applying for margin, to authorize Fidelity to lend property of yours
Who’s Who in This Agreement that has been pledged as collateral, and to comply with all provisions
of this Agreement concerning margin, including determining that
In this document, “Fidelity,” “us,” and “we” include Fidelity margin borrowing is appropriate for you, based on your own careful
Brokerage Services LLC (“FBS”) and National Financial Services examination of your financial resources, investment objectives, and
LLC (“NFS”) and their employees, agents and representatives, as risk tolerance
the context may require. “You” and “account owner” refer to the • if applying for any other optional features or services, to understand
owner indicated on the account application; for any account with and accept the terms associated with them
more than one owner or authorized person (such as a joint or trust • to protect Fidelity against losses arising from your usage of market
account), “you” and “account owner” or “account owners” refer to data and other information provided by third parties
all owners, collectively and individually.

FIDELITY ACCOUNT CUSTOMER AGREEMENT 1

• to read the fund’s prospectus, including its description of the fund,
the fund’s fees and charges, and the operation of the fund, when-
Standard Features
ever you invest in, or exchange into, any mutual fund (including any
fund used for your core position) Securities Trading
• to notify us in writing any time there is a material change in your This account is a brokerage account that allows you to trade and
financial circumstances or investment objectives hold many securities that are publicly traded in the United States,
• to be bound by the current and future terms of this Agreement, such as most securities in these categories:
from the time you first use your account or sign your application,
whichever happens first • stocks, including common and preferred
• that if you have authorized someone to act on your behalf in your • bonds, including corporate, municipal, and government
account, any and all disclosures may be provided solely to you or • convertible securities
the individual acting on your behalf as part of the scope of his or
her authority • mutual funds, including Fidelity funds, non-Fidelity funds,
exchange-traded funds (ETFs), and closed-end funds
• that we are authorized by you to use information related to you or
any of your accounts, including information that Fidelity or its affili- • options, including stock and index options, and in some cases
ates obtain in connection with services to or through your employer options offered through an employee stock option program (ESOP)
or a workplace plan or other benefit certificates of deposit (CDs)
• unit investment trusts (UITs)

Account Features
The account can also be used to trade certain foreign securities
(either directly or as depositary receipts) and precious metals.
Aggregate, non-personal data may be made publicly available on
The Fidelity Account® brokerage account offers access to a range of our websites, online services, and/or mobile applications. Aggregate
integrated financial services, making it a versatile investment and cash non-personal data may also be shared with clients, affiliates, and
management tool. Certain features and services are standard with third parties consistent with applicable law.
your account. Others are optional, and may be added either when Some investments that cannot be traded through your Fidelity
you open your account or later. Note that some features and fees Account® are futures and commodities.
vary depending on the nature of your relationship with Fidelity.
When you place a trade, you may have a choice of order types,
Industry regulations require that Fidelity Brokerage Services LLC (FBS) including market orders, limit orders, stop orders, and stop-limit
and its clearing firm, National Financial Services LLC (NFS), allocate orders. To find out how these different types of orders work, and
between them certain functions regarding the administration of your for other helpful information, go to Fidelity.com/brokerage. Fidelity
account. The following is a summary of the allocation of those func- may refuse to accept or execute any order or instruction related to
tions performed by FBS and NFS. your account, for any reason and at any time, in its sole discretion.
FBS is responsible for:
• Obtaining and verifying account information and documentation. Trading Foreign Securities
• Opening, approving and monitoring trading and other activity in Fidelity offers you different ways to trade foreign stocks:
your account. “International Trading,” “Dollarized International Trading,” or
“Foreign Ordinary Share Trading.” International Trading allows you
• Acceptance of orders and other instructions from you regarding to trade most common stocks and exchange-traded funds (ETFs)
your account, and for promptly and accurately transmitting those directly in the local market with an option to settle your trade in
orders and instructions to NFS. U.S. dollars or in the local currency. Foreign Ordinary Share Trading
• Determining the suitability of investment recommendations and allows you to trade shares in foreign corporations in the over-the-
advice, and that those persons placing instructions for your account counter (OTC) market through a U.S. market maker. All customers
are authorized to do so. trading foreign securities should be aware of certain risks described
• Operating and supervising your account and its own activities in below:
compliance with applicable laws and regulations, including compli- Trading in foreign securities, including direct investments in foreign
ance with federal, industry and NFS margin rules pertaining to your markets, involves various investment risks, including foreign exchange
margin account and for advising you of margin requirements. risk (the possibility that foreign currency will fluctuate in value against
• Maintaining the required books and records for the services it the U.S. dollar); increased volatility as compared to the U.S. markets;
performs. political, economic, and social events that may influence foreign mar-
kets or affect the prices of foreign securities; lack of liquidity (foreign
• Investigating and responding to any questions or complaints you markets may have lower trading volumes and fewer listed companies,
have about your account(s), confirmations, your periodic statement shorter trading hours, and restrictions on the types of securities that
or any other matter related to your account(s). FBS will notify NFS foreign investors may buy and sell); and less access to information
with respect to matters involving services performed by NFS. about foreign companies. Trading in foreign securities also may
NFS is responsible, at the direction of FBS, for: be subject to various credit, settlement, operational, financial, and
• The clearance and settlement of securities transactions. legal risks. Emerging markets, in particular, can be subject to greater
social, economic, regulatory, and political uncertainties, and can be
• The execution of securities transactions, in the event NFS accepts extremely volatile.
orders from FBS.
These risks may include but are not limited to:
• Preparing and sending transaction confirmations and periodic state-
ments of your account (unless FBS has undertaken to do so). Physical Markets. Certain countries may have less regulated or
less liquid securities markets. Some countries still rely on physical
• Acting as custodian for funds and securities received by NFS on markets that require delivery of properly endorsed share certificates
your behalf. to complete trades. As a result, the settlement process can be
• Following the instructions of FBS with respect to transactions and lengthy (and erratic in some markets) and carries an increased risk of
the receipt and delivery of funds and securities for your account. failure, including, but not limited to, the failure of the counterparty to
• Extending margin credit for purchasing or carrying securities on deliver securities in exchange for payment.
margin. Misidentification of Securities. Foreign companies may have
• Maintaining the required books and records for the services it multiple classes of securities, including “foreign” and “local” shares.
performs. Inadequate understanding of a foreign company’s capital structure
or imprecision in placing orders can result in purchasing the wrong
• NFS will not give you advice about your investments and will not securities.
evaluate the suitability or best interest (if applicable) of investments
made by you, your investment representative, or any other party. Non-DVP Transactions. Local trading and settlement customs fre-
quently require non-DVP (“delivery versus payment”) transactions.

2 FIDELITY ACCOUNT CUSTOMER AGREEMENT

Unlike DVP transactions, which involve a simultaneous exchange of The Risk of Loss in Trading Foreign Currency Can Be
securities and payment, non-DVP transactions can increase counter- Substantial. You should, therefore, carefully consider whether trading
party risk because the purchaser pays before securities are delivered foreign currency is suitable for you in light of your financial condition,
or the seller delivers securities before payment is made. risk tolerance, and understanding of foreign markets.
Trading Days and Hours. Differences in trading days and hours can Cash Held in Foreign Currency. To the extent that you hold all
also create operational issues, trading delays, and complicate clear- or a portion of your cash assets in a currency other than your
ance and settlement. Unless indicated otherwise, all online trading local currency, you may suffer currency losses from unfavorable
hours are reflected in U.S. Eastern time. Foreign securities orders will exchange rate movements that reduce the value of your cash
not be sent to the local market except during market hours in the assets compared to your local currency. These potential losses
specified country. Orders entered during such nonmarket hours will could leave you without sufficient cash to pay planned expenses
be released to the local market before it opens. Foreign exchange or other liabilities.
orders for a given trade date may be entered up until 5 p.m. Eastern Impossible to Liquidate. Under certain market conditions, you
time. Any orders submitted after this time will be submitted for exe- may find it difficult or impossible to liquidate an investment.
cution on the following trade date. Generally, the settlement date for This can occur, for example, when a currency is deregulated or
orders placed together for foreign securities and foreign exchange fixed trading bands are widened. Certain currencies may not be
corresponds to the settlement date for the underlying security, available to invest in, sell through, or hold at Fidelity. Exchange
absent differences in bank and local market days of operation. practices, including currency controls, may change from time to
Cross-Border Settlement. Cross-border settlement involves the time without notice. As a result, it is important that you under-
interaction of different settlement systems and differing (and poten- stand the practices in the foreign markets in which you trade.
tially inconsistent) laws in each of the affected countries. Currency Trading Is Speculative and Volatile. Currency prices
Dividend and Reorganization Payments. Dividend and reorga- are highly volatile. Price movements for currencies are influenced
nization payments are paid when funds are received from local by, among other things, changing supply-demand relationships;
market custodians, which may or may not coincide with the actual trade, fiscal, monetary, exchange control programs and policies of
announced payment date. Participation in shareholder voting and/or governments; U.S. and foreign political and economic events and
dividend payments in non-U.S. securities is subject to the rules and policies; changes in national and international interest rates and
regulations of the non-U.S. market in which the security was issued inflation; currency devaluation; and sentiment of the marketplace.
and may require the disclosure of your personal information, includ- None of these factors can be controlled by you or any individual
ing but not limited to name, address, and country of citizenship and/ advisor, and no assurance can be given that you will not incur
or residence. losses from such events.
Trading Restrictions and Market Operations. Foreign markets often Currency Trading Presents Unique Risks. Fidelity, through its
operate differently from U.S. markets. For example, there may be dif- affiliate Fidelity FOREX, LLC (‘’Fidelity FOREX’’), may refuse to
ferent periods for clearance and settlement of securities transactions, quote prices for certain currencies or quote wide spreads for cur-
and investments in foreign securities may be subject to local market rencies that are experiencing high levels of volatility.
trading restrictions and fees. Certain markets may impose restrictions Broker Compensation. Fidelity serves as agent rather than
regarding repatriation of monies or limit certain investment activities. principal to the foreign currency transaction. Fidelity sends the
Fidelity is not responsible for notifying customers of each country’s transaction to Fidelity FOREX for the foreign exchange transaction.
specific requirements. Customers agree to conduct appropriate due
diligence to understand specific limitations in each country. Fidelity FOREX Is an Affiliate of Fidelity. Fidelity FOREX acts as
a principal on the currency exchange. Fidelity FOREX imposes a
Margin Privileges. Extension of margin credit in foreign securities commission, or markup, to the price they receive from the inter-
may result in greater risk than U.S. securities. Foreign securities may bank market, which may result in a higher price to you. Fidelity
be eligible for margin privileges when a brokerage account has been FOREX may in turn share a portion of any foreign exchange com-
opened and the customer has applied and been approved for mar- mission or markup with Fidelity. More favorable exchange rates
gin trading. may be available through third parties not affiliated with NFS.
Limited Recourse Under Local Law. A U.S. investor may not be able Larger transactions for foreign currency may receive more favor-
to sue a foreign issuer or a Foreign Executing Broker, or to enforce a able rates than smaller transactions.
judgment in U.S. courts. The only available remedy may be the legal Foreign Currency Balances. Customers acknowledge that credit
remedies that are available under foreign law, and those remedies balances in foreign currency may or may not earn interest.
may be limited.
Tax Treatment. There may be negative tax consequences when trad- Extended-Hours Trading Risk
ing in certain countries. You should consult a tax advisor for further Disclosure Statement
information.
Trading in the extended hours (outside of the standard market
Foreign securities positions that are not in the custody or control hours, generally 9:30 a.m. to 4 p.m. Eastern time) may pose greater
of NFS are not covered by SIPC or any additional insurance secured risks than the risks you take when you trade during standard market
by NFS. hours. You should review and understand these risks prior to engag-
Fidelity may limit, restrict, or terminate your ability to trade in certain ing in extended-hours trading.
foreign securities at any time and in Fidelity’s sole discretion. Liquidity, Volatility, and Price Spreads. Prices are based on
Please refer to Additional Information for more on Fidelity’s the supply and demand created by other sellers and buyers.
brokerage fee schedules, fees for various features and services, Because there are generally fewer participants trading during the
and margin borrowing charges. Note that foreign jurisdictions may extended-hours sessions, there may be wider price spreads,
impose additional fees, taxes, or other charges from time to time, reduced liquidity, and higher volatility. These conditions may
which may not be reflected in the fee schedule in effect at that time. prevent your orders from being executed, in whole or in part, or
By placing a trade in a foreign security, you agree to pay any such you may receive a less favorable price than you might receive during
applicable fees, taxes, or other charges, regardless of notice. standard market hours. Additionally, the prices of investments traded
in extended-hours trading may not reflect the prices at the end of
Foreign Currency Exchange Risk regular trading hours, or at opening the next morning.
Disclosure Statement Communication Delays. If there is a high volume of orders,
While this brief statement cannot disclose all risks associated with increased number of communications being sent, or other
trading in foreign currency, when considering whether to trade computer system problems, you may experience delays or failures
or authorize someone else to trade foreign currency for you, you in communication that cause delays in or prevent access to cur-
should be aware of the following: rent information about the investments you’re considering, or in
executing your order.

FIDELITY ACCOUNT CUSTOMER AGREEMENT 3

Time and Price Priority of Orders. Orders in the extended- Core Account
hours sessions are generally handled in a price/time priority Your Fidelity Account® includes a core account that holds assets
manner. Orders are first prioritized according to price, with the awaiting investment or withdrawal. Any amount in your core account
orders at the same price ranked based on the time the order will be held in the core position specified on your Fidelity Account®
was submitted. There is no trade through protection during the application or as otherwise selected by you.
extended-hours sessions, so price/time priority is set by each
market center, not across market centers. This may prevent your Depending on the type of Fidelity Account®, the available options for
order from being executed, in whole or in part, or prevent you your core position may include a money market mutual fund, a bank
from receiving as favorable a price as you might receive during sweep, or a free credit balance. Note that some of these options may
standard market hours. If you change your order, your change is not be available until after the account is established. With respect
treated as a cancellation and replacement, which may cause it to to both investment yield and compensation to Fidelity, results will
lose its time priority. typically vary across available core options. Generally, Fidelity earns
more compensation when your funds are invested in products or
Access to Other Markets and Market Information. Not all services offered by an affiliate of Fidelity. The core option specified
market centers are connected in extended-hours trading sessions, in the account application may not always provide the highest yield,
and not all market centers offer extended-hours trading during based in part on the then-current interest rate environment. See
the same time periods. This means there may be greater liquid- the applicable mutual fund prospectus or FDIC-Insured Deposit
ity or a more favorable price for a particular security in another Sweep Program Disclosure, as applicable, for more information. For
market center. Access to quotes and trading information in other purposes of the Core Account section of this Agreement, the free
market centers may be limited during extended-hours sessions. credit balance is referred to as the “Taxable Interest Bearing Option.”
Normally, issuers make news announcements that may affect This is different from the Intra-day Free Credit Balance described in
the price of their securities after regular trading hours. Similarly, the Credits to Your Account section of this Agreement. More details
important financial information is frequently announced outside of about the money market mutual fund and bank sweep can be found,
regular trading hours. Keep in mind that news stories and related respectively, in the money market mutual fund’s prospectus or the
announcements, coupled with lower liquidity and higher volatility, FDIC-Insured Deposit Sweep Program Disclosure, both of which
may cause an exaggerated and unsustainable effect on the price will be made available to you when applicable. Like any free credit
of a security. balance, the Taxable Interest Bearing Option represents an amount
Trading Options Securities. There is a risk of lack of calcula- payable to you on demand by Fidelity. Subject to applicable law,
tion or dissemination of the underlying index value or Intraday Fidelity may use this free credit balance in connection with its busi-
Indicative Value (“IIV”) and lack of regular trading in securities ness. Fidelity may, but is not required to, pay you interest on this free
underlying indexes. For certain products, an updated underlying credit balance, provided that the accrued interest for a given day is
index, portfolio value, or IIV will not be calculated or publicly at least half a cent. Interest, if paid, will be based upon a schedule
disseminated during Extended Trading Hours. Because the set by Fidelity, which may change from time to time at Fidelity’s sole
underlying index or portfolio value and IIV are not calculated or discretion. Fidelity reserves the right to make changes to the available
widely circulated during extended trading hours, an investor who options and/or the options available to you for your core position.
is unable to calculate implied values for certain products during More details about the Bank Sweep can be found on the FDIC-
extended trading hours may be at a disadvantage to market pro- Insured Deposit Sweep Program disclosure document (the “Program
fessionals. Securities underlying the indexes or portfolios will not Disclosure”). Please note that, as more fully described in the Program
be regularly trading as they are during regular trading hours, or Disclosure, the FDIC-Insured Deposit Sweep Program allows for
may not be trading at all. This may cause prices during extended the sweeping of Cash Balances into a money market mutual fund
trading hours to not reflect the prices of those securities when (this feature is known as the “Money Market Mutual Fund Overflow”
they open for trading. or “MMKT Overflow”) in certain circumstances. The Bank Sweep
together with the MMKT Overflow make up the components of
Penny Stock Trading Risk Disclosure Statement the FDIC-Insured Deposit Sweep Program. Once the account is
Low-priced securities, or penny stocks, generally trade for less than established, you may be able to switch the core position to another
$5 per share and have a relatively small market capitalization. Before available option.
engaging in penny stock trading, you should carefully review and After your Fidelity account has been opened, there may be situations
consider the following risks, which can be exacerbated in periods of where your core position must be changed from the option you
market volatility: currently use to another available option. Upon receiving advance
Lack of Public Information. Reliable, publicly available infor- written notice of such change, unless you contact Fidelity and inform
mation about the penny stock you’re considering may not be us otherwise within the time frame specified in the notice, you will be
available or as accessible as information about securities that deemed to (i) consent to such change and (ii) direct Fidelity to with-
trade on major exchanges. This can include information about draw your funds from the core position you currently use and place
the management, operations, financials, and other aspects of a those funds in the new core position.
company may not be available. As a result, it is less likely that If You Reside Outside the United States
quote prices will be based on full and accurate information about
If we determine that you reside outside the United States in any
the company.
country other than Canada (as described in the Residing Outside the
No Minimum Listing Standards. Companies that trade on major United States section of this Agreement) at the time you open your
exchanges like the New York Stock Exchange or Nasdaq must Fidelity Account®, or at any point in time after you open your Fidelity
meet minimum standards for the amount of net assets they have Account® (e.g., as a result of a subsequent move), your core account
and the numbers of shareholders invested in their companies. In will not operate as described elsewhere in the Agreement. Instead,
contrast, companies that trade as penny stocks in the OTC market during such time as we believe you reside outside the United States,
may be subject to reduced or no minimum listing standards. the following will apply:
Liquidity Risk. Demand may not be constant for penny stocks, 1. New Fidelity Accounts.
which means you may not be able to sell when you want to. You If the Taxable Interest Bearing Option is your core position, your
should carefully consider that you may have difficulty selling the core account will operate as otherwise described in this Agreement
stock, and that this could impact the sale price. except that you will be unable to change your core position, even if
High Volatility. Penny stocks are susceptible to and can experi- other options are made available to you.
ence large price swings in a short amount of time. These swings If any option is utilized as your core position other than the Taxable
may be exacerbated during periods of overall market volatility. Interest Bearing option, the process of sweeping the Intra-day
Fraud. Since reliable, publicly available information on penny and After-hours Free Credit Balances to your core account (as
stock is often limited and there is generally less liquidity and described in the Credits to Your Account section of this Agreement)
trading volume, these stocks can be a target for price or volume will be suspended. As a result, all uninvested cash in your Fidelity
manipulation and other fraudulent activity. Account® will be held as Intra-day and After-hours Free Credit
Balances. You will also be unable to make any change to your core
For more information on penny stocks and their risks, see the
position, except that you may change your election to the Taxable
three-part Investor Bulletin: Microcap Stock Basics from the SEC.
Interest Bearing Option, if that option is available to you. Should
4 FIDELITY ACCOUNT CUSTOMER AGREEMENT
 you make that change, your core account will operate as if the For more details on SIPC, or to request an SIPC brochure, visit
Taxable Interest Bearing Option is your core position (as described www.sipc.org or call 202-371-8300.
in the immediately preceding paragraph).
2. Existing Fidelity Accounts.
If you have a Fidelity Account® that utilizes the Taxable Interest Optional Features
Bearing Option as your core position, your core account will oper-
You can set up these services using your account application. To add
ate as otherwise described in this Agreement, except that you will
them to an existing account, contact Fidelity. Some of these features
be unable to change your core position, even if other options are
are covered by their own customer agreements, provided by third
available to you.
parties and/or are incorporated into this Agreement by reference (are
If you have a Fidelity Account® that utilizes any option for your core legally considered part of this Agreement) and will be provided to
position other than the Taxable Interest Bearing Option, the process you as applicable. Note that some services are not available for cer-
of sweeping the Intra-day and After-hours Free Credit Balances to tain types of accounts.
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 Checkwriting
unable to add to it for as long as we believe you reside outside the
United States, except for automatically reinvested dividends on Checkwriting is available on many types of registration; exceptions
money market mutual fund positions and the deposit of accrued include certain retirement plans. Note that cancelled checks are not
interest in the case of a bank sweep. As a result, all new deposits to returned to you, although check imaging may be available.
your Fidelity Account® or settlement proceeds from transactions in
your Fidelity Account® will be held as Intra-day and After-hours Free Debit and Credit Cards; ATM Withdrawals
Credit Balances. You will also be unable to make any change to your These cards can be used to make withdrawals at any ATM that
core position, except that you may change to the Taxable Interest accepts that type of card. Below are the types of cards you may apply
Bearing Option, if that option is available to you. Should you make for in connection with your Fidelity Account®:
that change, your core account will operate as if you had an existing Fidelity® Debit Card: All transactions are debited against your
Fidelity Account® that utilizes the Taxable Interest Bearing Option account the same day you make them. Fidelity currently covers the
(as described in the immediately preceding paragraph). entire annual card fee.
Should we determine that you no longer reside outside the United Credit Cards: There are several different cards available to you.
States, if your Fidelity Account® was subject to a suspension, this These cards have different features, including the ability to earn cash
suspension will be lifted, the Intra-day and After-hours Free Credit back rewards, while providing convenient access to credit. These
Balances will be swept to your core account as specified on your credit cards are issued and administered by a third party. For infor-
application or as otherwise selected by you, and, going forward, your mation about rates, fees, and other costs and benefits associated
Fidelity Account® will operate as otherwise described herein. with the credit card program, visit Fidelity.com/creditcards.

Statements
We will send an account statement to the address of record: Bill Pay
• every calendar quarter, at a minimum
Bill Pay service is free and allows you to pay your bills online. It can
• for any month when you have trading or cash management activity be set up to make fixed payments automatically, and you can also
Your account statements will show all activity in your account for the use it to send variable periodic payments on demand to designated
stated period, including securities transactions, cash and margin payees.
balances, credits and debits, and all fees paid directly from your
account.
We will also send out a confirmation for every securities transaction Fidelity MyVoice®
in your account. The only exceptions are automatic investments, Fidelity MyVoice® is a free security service. When you call Fidelity,
automatic withdrawals, dividend reinvestments, and transactions you’ll no longer have to enter PINs or passwords because Fidelity
that involve your core position, or the Intra-day Free Credit Balance; MyVoice helps you interact with us securely and more conveniently.
for these activities, your regular account statement serves in place of Through natural conversation, MyVoice will detect and verify your
a confirmation. voiceprint in the first few moments of the call. A voiceprint is a
If you live with immediate family members who also have eligi- combination of your physical and behavioral voice patterns. Like a
ble Fidelity accounts, Fidelity may “household” those accounts to fingerprint, it’s unique to you.
potentially qualify for enhanced services and features and to send
statements and disclosures together to a common address. You may
also elect to have your statements combined or householded by Mobile Phone Number Security Check
completing the information requested at Fidelity.com/customer
-service/how-to-combine-statements. By participating in house- In order to protect your account, we may review any changes made
holding, you agree that Fidelity may provide the employers of any to your mobile phone number to ensure that a newly entered
householded account holders with account statements, trade confir- number is not associated with any known fraudulent activity. You
mations, or other documents as required by applicable regulations. authorize your mobile provider to disclose information about your
In addition, by signing the account application, you consent to have mobile phone account, such as subscriber status, payment method
only one copy of Fidelity mutual fund shareholder documents, such (whether your account is prepaid or is subject to monthly billing), and
as prospectuses and shareholder reports (“Documents”), delivered device details, if available, to support identity verification and fraud
to you and any other investors sharing your address. Your Documents avoidance, and for other security purposes for the duration of your
will be householded indefinitely; however, you may revoke this business relationship with us. This information may also be shared
consent at any time by contacting Fidelity. Additional details regard- with certain third-party companies whose services we utilize for
ing your consent are provided in the account application. security to support your transactions with us, and for identity verifica-
tion and fraud avoidance purposes.
Account Protection
The securities in your account (including any amounts in the MMKT
Overflow) are protected in accordance with the Securities Investor
Transferring Money Electronically
Protection Corporation (SIPC) for up to $500,000 (including up to Options for transferring cash in and out of your account electronically
$250,000 for uninvested cash). We also provide additional coverage include bank wires, which use the Federal Reserve wire system, and
above these limits. Neither coverage protects against a decline in the electronic funds transfer (EFT), which works like an electronic check.
value of your securities, nor does either coverage extend to certain
securities that are considered ineligible for coverage.
FIDELITY ACCOUNT CUSTOMER AGREEMENT 5
You can also set up your account to receive periodic transfers by arrange for account statements, notices, confirmations, and com-
activating the Automatic Investment feature. In addition, you munications of every kind to be sent only to them and consent to
can buy and sell shares of Fidelity mutual funds by telephone electronic delivery of such communications in accordance with the
and use your bank account (via electronic funds transfer) to settle terms of the Electronic Delivery Agreement, which is incorporated
the transaction. herein by reference, view all available historical account documents
or change the account’s features and services (although no account
owner may remove another’s name from the account).
Margin In addition, with joint accounts, the principle of “notice to one is
notice to all” applies. We are legally considered to have fulfilled
Margin Account an obligation to the account if we fulfill it with respect to just one
A margin account lets you borrow money from NFS, using eligible account owner (e.g., sending statements or other required communi-
securities that are in your account as collateral. A margin account cations to just one account owner).
is designed primarily to finance additional purchases of securities, Note also that we have no obligation to question the purpose or
although it can also provide overdraft protection for your cash propriety of any instruction of a joint account owner or authorized
management activities. person that appears to be authentic, or to let other owners know
about any changes an owner has made to the account, unless we
Margin with Debt Protection have received written notice to the contrary, from an authorized
In a margin account, you may enable the Margin Debt Protection person and in good order, at the address referenced earlier under
feature to help avoid the account from trading into a debit balance. “How to Contact Us.” We reserve the right to require, at any time,
This feature will impose limits similar to a cash account and prevent the written consent of all account owners and/or authorized persons
you from using margin in many circumstances. However, even with this before acting on an instruction from any account owner or autho-
feature enabled and the use of margin restricted, the account will be rized person, but we use this right only at our sole discretion and for
administered as a margin account. our own protection.
For information on the benefits, costs, and risks of margin, see Laws covering joint or community property vary by state. You are
“Important Information about Using Margin and Its Risks.” 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,
Dividend Reinvestment 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
In addition to reinvestment of mutual fund dividends, reinvestment and conditions. For tenants in common, a deceased account owner’s
of dividends from eligible equities and closed-end funds is an option interest (which equals that of the other account owner(s) unless spec-
for most Fidelity accounts, including retirement accounts and those ified otherwise) goes to that account owner’s legal representative.
with margin. You can choose to have the service apply to all eligible Tenants in common are responsible for maintaining records of the
securities in your account, or only to certain ones. You can request percentages of ownership.
this feature online, by phone, or in writing.
Trust Accounts
The provisions in the foregoing section applicable to joint registration
Accessing Your Account accounts shall likewise apply to trust accounts with multiple trustees,
with one trustee having the rights and responsibilities of one joint
There are a variety of ways you can place orders, access your
account owner. In addition, applying for a trust account is consid-
account, get market and investment information, or contact Fidelity.
ered to be a statement from the trustees that they are authorized,
Online choices include Fidelity.com, Fidelity Active Trader Pro®, alerts
under the terms of the trust and applicable law, to open and direct
and wireless trading services, the Fidelity Investments mobile app,
a brokerage account on behalf of the trust, to receive notices, confir-
and other interactive services for computers or handheld devices.
mations, account statements, and communications of every kind and
Some of these services are offered by Fidelity directly; others are
consent to electronic delivery of such communications in accordance
offered by outside providers.
with the terms of the Electronic Delivery Agreement, which is incor-
Telephone choices include Fidelity Automated Service Telephone porated herein by reference, and that their orders and transactions
(FAST®) as well as Fidelity’s telephone representatives. Both services will be governed by the terms and conditions of all applicable trust
are generally available 24 hours a day, 7 days a week. Please note that agreements, and that Fidelity is authorized to accept instructions
our telephone lines may be recorded, and, by signing the account from any trustee.
application, you are consenting to such recording. If you do not wish
to be recorded, you should contact Fidelity via another means. You Custodial Registration
can also speak with a Fidelity Representative in person, during busi-
ness hours, at any of our Fidelity Investor Centers around the country. For accounts opened under the Uniform Gifts to Minors Act (UGMA)
or Uniform Transfers to Minors Act (UTMA), you, the account owner,
are the custodian. By opening this type of account, you agree that

Account Policies
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. You agree that at any time, Fidelity may, in its sole discre-
tion and without prior notice to you, disclose information about the
account to the beneficiary.
Account Registration You also agree that once the minor reaches the age of termination,
you will transfer the assets in the account in an appropriate and
Joint Registration timely manner consistent with applicable state law. In the event the
With joint registration accounts, any obligations or liabilities resulting assets are not transferred, Fidelity may in its sole discretion and
from one account owner’s actions are joint and several (i.e., are the without prior notice, (i) restrict the account to prevent further activity
responsibility of each account owner, both individually and jointly). including trading and/or (ii) if you are unable and/or unwilling to
We may enforce this Agreement against all account owners or transfer the assets, unilaterally transfer the custodial property to the
against any owner individually. beneficiary. You agree to indemnify and hold harmless Fidelity and its
officers, directors, employees, agents and affiliates from and against
Each owner of a joint account may act as if they were the sole owner any and all losses, claims or financial obligations that may arise from
of the account, with no further notice or approval necessary from any any such restrictions to the account and/or the transfer of the custo-
joint owner. For example, a joint owner can write checks, buy and sell dial property by Fidelity, including without limitation any claims you
securities, withdraw assets, transfer assets into or out of the account, may or could have for any expenses incurred in the performance of
borrow against the account (such as through short sales or margin),
6 FIDELITY ACCOUNT CUSTOMER AGREEMENT
your custodial duties and/or compensation for services that you have In addition, we may restrict or limit any transaction in any mutual
not already deducted from the UGMA/UTMA account prior to such fund or other investment company that we or an affiliate manages or
restrictions and/or transfer. advises if we believe the transaction could adversely affect the invest-
ment company or its shareholders.
Authorization and Direction to Obtain and Use
Information Related to You
You authorize us to obtain and use information related to all of your How Transactions Are Settled
accounts, workplace plans, or other benefits, or other information
related to you that may be maintained by us or any of our affiliates, Credits to Your Account
including without limitation information related to your accounts, During normal business hours (“Intra-day”), activity in your account
participation, or benefits that we or any Fidelity affiliate may obtain in such as deposits and the receipt of settlement proceeds are credited
connection with providing services to or through your employer or a to your account and may be held as a free credit balance (the “Intra-
workplace plan or other benefit. We may use this information for any day Free Credit Balance”).
purpose not prohibited by law, such as in the provision of enhanced
Activity in your account, such as deposits and the receipt of settle-
or integrated services or more personalized communications, but
ment proceeds, may also occur after the cut-offs described above or
the information shall not be required to be used for any specific
on days the market is not open and the Fedwire Funds Service is not
purpose.
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”).
Account Usage Like any free credit balance, the Intra-day and After-hours Free Credit
First Use of Core Account Balances represent amounts payable to you on demand by Fidelity.
Subject to applicable law, Fidelity may use these free credit balances
If a money market mutual fund is your core position, making your
in connection with its business. Fidelity may, but is not required to,
first investment into that fund is your acknowledgment that you have
pay you interest on free credit balances held in your account over-
received and read a prospectus for that fund.
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,
Prohibited Uses and Actions which may change from time to time at Fidelity’s sole discretion.
You are strictly prohibited from using your account in conjunction with
Interest paid on free credit balances will be labeled “Credit Interest”
any business as a broker-dealer, trader, agent, or advisor in any type
in the Investment Activity section of your account statement. Interest
of security, commodity, future, or contract, or in any business or orga-
is calculated on a periodic basis and credited to your account on the
nization connected with individuals performing these functions. You
next business day after the end of the period. This period typically
are also prohibited from publicizing or sharing with anyone any infor-
runs from approximately the 20th day of one month to the 20th
mation you obtain through your account (such as securities quotes).
day of the next month, provided, however, that the beginning and
In addition, be aware that we may freeze your account or suspend
ending periods each year run, respectively, from the 1st of the year
certain privileges, features, or services at any time without notice.
to approximately the 20th of January and approximately the 20th
of December to the end of the year. Interest is calculated by multi-
Limits on Mutual Fund Trades plying your average overnight free credit balance during the period
Because excessive trading in mutual fund shares can be detrimen- by the applicable interest rate, provided, however, that if more than
tal to a fund and its shareholders, we may block account owners one interest rate is applicable during the period, this calculation will
or accounts that engage in excessive trading from making further be modified to account for the number of days each period during
transactions in fund shares. A block on trading fund shares may be which each interest rate is applicable.
temporary or permanent, and may apply only to certain mutual funds
or all mutual funds, including Fidelity funds. If You Utilize a Fidelity Money Market Fund as
The decision to impose a block may originate with a mutual fund Your Core Position
company or may be made by Fidelity at the brokerage account
If you utilize a Fidelity money market fund as your core position, the
level, if Fidelity believes such a block is warranted. To see what a
Intra-day Free Credit Balance, if any, generated by activity occurring
given fund com­pany’s definition of “excessive trading” is, check
prior to the market close each business day (or 4 p.m. Eastern time
the fund’s prospectus.
on business days when the market is closed and the Fedwire Funds

Trading in Volatile Markets — Understand the Risks

Volatile markets can present higher trading • Be aware that quotes, order execu- receipt for your cancellation order;
risks. Ways to manage some of these risks tions, and execution reports could that order may have arrived too late
include: be delayed During periods of for us to act on.
• Consider placing limit orders instead heavy trading or volatility, quotes • Use other ways to access Fidelity
of market orders In certain market that are provided as “real time” may during peak volume times Phone or
conditions or with certain types of be stale — even if they appear not computer capacity limitations could
securities offerings (such as IPOs and to be — and you may not receive mean delays in getting information or
technology stocks), price changes every quote update. Security prices placing orders. If you are having prob-
may be significant and rapid during can change dramatically during such lems with one method, try another.
regular or after-hours trading. In these delays, and order execution may be
delayed or unavailable. The chances of encountering these risks
cases, placing a market order could are higher for individuals using day-trad-
result in a transaction that exceeds • If you attempt to cancel an order, ing strategies. In part for this reason,
your available funds, meaning that understand that there is no guarantee Fidelity does not promote day-trading
Fidelity would have the right to sell that an open order can be cancelled, strategies.
other assets in your account. This is in whole or in part If you wish to
especially a risk in accounts that you replace an order you have attempted For more information on trading risks and
cannot easily add money to, such as to cancel, be sure your original order how to manage them, visit Fidelity.com or
retirement accounts. is actually cancelled. Don’t rely on a contact Fidelity.

FIDELITY ACCOUNT CUSTOMER AGREEMENT 7

Service is operating) is automatically swept into your core account and As an account owner, you are responsible for satisfying all debits
invested in your core position at the market close. on your account, including any debit balance outstanding after all
There will be additional automatic sweeps into your core account assets have been removed from an account, any margin interest (at
early in the morning prior to the start of business on each business prevailing margin rates) that has accrued on that debit and any costs
day that will also be invested in your core position at that time. These (such as legal fees) that we incur in collecting the debit. You are also
will include your After-hours Free Credit Balance along with credit responsible for ensuring that checks issued to you representing dis-
amounts attributed to certain actual or anticipated transactions that tributions from your account are promptly presented for payment. If
would otherwise generate an Intra-day Free Credit Balance on such a check issued to you from your account remains uncashed and out-
business day. 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.
If You Utilize the Bank Sweep as Your
To help ensure the proper discharge of debits, it is our policy (unless
Core Position we agree to do otherwise) to do the following when settling debits
If you utilize the Bank Sweep as your core position, the Intra-day Free against your account.
Credit Balance, if any, as well as any After-hours Free Credit Balance
generated by activity occurring prior to Fidelity’s nightly processing
cycle are automatically swept into your core account as part of that
If You Utilize a Fidelity Money Market Fund as
nightly cycle (the “Evening Bank Sweep”) and reflected in your Account Your Core Position
as Program Deposits (as defined infra) in anticipation of the deposit If you utilize a Fidelity money market fund as your core position
process described below on the next business day. and there are debits in your account generated by account activity
There will be an additional automatic sweep into your core account occurring prior to the market close each business day (or 4 p.m.
early in the morning prior to the start of business on each business Eastern time on business days when the market is closed and the
day that will also be invested in your core position at that time (the Fedwire Funds Service is operating), these debits will be settled at
“Morning Bank Sweep”). This will include credit amounts attributed to the market close using the following sources, in this order:
certain actual or anticipated transactions that would otherwise gener- • the Intra-day Free Credit Balances
ate an Intra-day Free Credit Balance on such business day. • redemption proceeds from the sale of your core position at the
The total amount of the Evening Bank Sweep and the Morning Bank market close
Sweep is referred to as your Cash Balance. In the morning of the • redemption proceeds from the sale of any shares of a Fidelity
business day of the Morning Bank Sweep, your Cash Balance will be money market mutual fund held in the account that maintains
deposited in an FDIC-insured interest-bearing account (a “Program a stable (i.e., $1.00/share) net asset value and is not subject to a
Deposit Account”) at one or more participating banks (each, a liquidity fee or similar fee or assessment
“Program Bank”). The amounts on deposit are collectively referred to
as your Program Deposits, and Program Deposits are eligible for FDIC • if you have a margin account, any margin surplus available, which
insurance up to certain limits. Please note that in the event you have will increase your margin balance
cash balances greater than either a) amount that the bank sweep pro- There will be additional sweeps early in the morning prior to the
gram can place at the participating banks, or b) amounts that exceed start of business on each business day, and certain unsettled debits
the total FDIC insurance offered by the Program, excess funds will in your account along with debits associated with certain actual or
be swept into a money market mutual fund (this feature is known as anticipated transactions that would otherwise generate a debit in
the “Money Market Mutual Fund Overflow” or the “MMKT Overflow” your account during the business day will be settled using redemp-
component of the Bank Sweep program). Please see the FDIC-Insured tion proceeds from the sale of your core position early in the
Deposit Sweep Program Disclosure for more details. morning prior to the start of business.

If You Utilize the Interest Bearing Option as If You Utilize the Bank Sweep as Your
Your Core Position Core Position
If you utilize the Interest Bearing option as your core position, the If you utilize the Bank Sweep as your core position and there are
Intra-day Free Credit Balance, if any, as well as any After-hours Free debits in your account generated by account activity occurring prior
Credit Balance generated by activity occurring prior to Fidelity’s nightly to Fidelity’s nightly processing cycle, these debits will be settled using
processing cycle is automatically swept into your core account as part the following sources, in this order:
of that nightly cycle and held in the Interest Bearing option. • any Intra-day or After-hours Free Credit Balances
• proceeds from the sale of any shares of the MMKT Overflow
Check and ACH Deposits held in the core account
Each check or Automated Clearing House (ACH) deposit is promptly
•p  roceeds from the withdrawal of Program Deposits occurring on
credited to your account. However, the money may not be available
the next business day (not including bank holidays or days on
to use until up to six business days later, and we may decline to
which the New York Stock Exchange is closed, such as Good Friday)
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 • r edemption proceeds from the sale of any shares of a Fidelity
clear, the deposit will be removed from your account, and you are money market mutual fund held in the account that maintains
responsible for returning any interest you received on it. Note that a stable (i.e., $1.00/share) net asset value and is not subject to a
we can only accept checks denominated in U.S. dollars and drawn liquidity fee or similar fee or assessment
on a U.S. bank account (including a U.S. branch of a foreign bank). • if you have a margin account, any margin surplus available, which
We cannot accept third-party checks. In addition, if we have reason will increase your margin balance
to believe that assets were incorrectly credited to your account, we
In addition, early in the morning prior to the start of business on
may restrict such assets and/or return such assets to the account
each business day, certain unsettled debits in your account along
from which they were transferred.
with debits associated with certain actual or anticipated transactions
that would otherwise generate a debit in your account during the
Debits to Your Account business day will be settled using proceeds from the withdrawal of
All debit items (including checks, debit card transactions, bill Program Deposits occurring that business day (not including bank
payments, securities purchases, electronic transfers of money, levies, holidays or days on which the New York Stock Exchange is closed,
court orders or other legal process payments) are paid daily to the such as Good Friday). Debits associated with certain actual or
extent that sufficient funds are available. Note that debits to resolve anticipated transactions that would otherwise generate a debit in
securities transactions (including margin calls) will be given priority your account during the business day will be settled using proceeds
over other debits, such as checks or debit card transactions. first from the sale of any shares of the MMKT Overflow and then the
withdrawal of Program Deposits occurring that business day.

8 FIDELITY ACCOUNT CUSTOMER AGREEMENT

If You Utilize the Interest Bearing Option as Transaction Settlement Deadlines
Your Core Position Generally, you need to pay for all transactions or deliver all securities
If you utilize the Interest Bearing option as your core position and by 2 p.m. Eastern time on the settlement date. We reserve the right
there are debits in your account generated by account activity occur- to cancel or liquidate, at your risk, any transaction not settled in a
ring prior to Fidelity’s nightly processing cycle, these debits will be timely way. Unless we require otherwise, margin calls are due on or
settled using the following sources, in this order: before the date indicated, regardless of the settlement date of the
transactions, also by 2 p.m. Eastern time.
• any Intra-day or After-hours Free Credit Balances
• funds held in the Interest Bearing option Transfer of Securities — Dividends
• redemption proceeds from the sale of any shares of a Fidelity When dividends are paid on securities that are transferred from a
money market mutual fund held in the account that maintains brokerage account (other than in settlement of brokerage transac-
a stable (i.e., $1.00/share) net asset value and is not subject to a tions), such as transfers between accounts and gifts of securities,
liquidity fee or similar fee or assessment Fidelity will apply the same “ex-dividend date” rules that apply to
• if you have a margin account, any margin surplus available, brokerage transactions so that transfers before an ex-dividend date
which will increase your margin balance will transfer the dividend to the transferee, and transfers on or after
the ex-dividend date will not transfer the dividend to the transferee.
In addition to the foregoing, we may turn to the following sources:
• redemption proceeds from the sale of any shares of a Fidelity Non-Transferable Securities
money market fund held in another non-retirement account In the event that any securities in your account become non-
with the same registration (which you authorize us to sell for this transferable, NFS may remove them from your account without prior
purpose when you sign the application) notice. Non-transferable securities are those where transfer agent
• any securities in any other account at Fidelity in which you have services have not been available for six or more years. A lack of trans-
an interest fer 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
If you want to opt out of the foregoing, please contact Fidelity for
even be insolvent. NFS may remove non-transferable securities from
more information.
your account pursuant to a Securities and Exchange Commission
In the event that your account does not contain sufficient cash, approved program that permits our custodian for these securities to
Fidelity may liquidate securities to satisfy a court order, levy, or any no longer maintain the physical certificates representing the positions
other legal process payment. in these securities. Please note the following:

Resolving Unpaid Obligations or Other Obligations • There are no known markets for these securities.
If certain of the sources listed above in “Debits to Your Account” • We are unable to deliver certificates to you representing these
(which are defined as your “available balance” for purposes of this positions.
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: • These transactions will not appear on Form 1099 or any other
tax-reporting form.
• advance funds to your account from your credit card
• If the position is held in a retirement account, we will not report the
• decline to honor the debit, which may result in fees (such as removal of the position as a taxable distribution and any reinstate-
a returned check fee) or other consequences for you ment of the position will not be reported as a contribution.
• if you have a margin account and the unsatisfied debit is for a • If transfer agent services become available sometime in the future,
securities purchase, draw on the available balance of another NFS will use its best efforts to have the position reinstated in
account of yours at Fidelity your account.
If you have a margin account, we may transfer to that account any • Positions removed from your account will appear on your next
unresolved debit from other accounts of yours. available account statement following such removal as an “Expired”
Note that at any time, we may reduce your available balance to cover transaction.
obligations that have occurred but not yet been debited, including By opening and maintaining an account with us, you consent to
but not limited to withholding taxes that should have been deducted our actions as we have described them above, and you waive any
from your account. claims against us arising out of such actions. You also understand
It is important to understand that we do have additional choices for that we do not provide tax advice concerning your account or any
resolving unsatisfied obligations. Like many other securities brokers, securities that may be the subject of removal from or reinstatement
we reserve the right to sell or otherwise use assets in an account into your account, and you agree to consult with your own tax advisor
to discharge any obligations the account owner(s) may have to us concerning any tax implications that may arise as a result of any of
(including unmatured and contingent obligations), and to do so these circumstances. Fidelity has no responsibility for determining if
without further notice or demand. For example, if you have bought the sale of either a limited partnership or master limited partnership
securities but not paid for them, we may sell them ourselves and use would generate unrelated business taxable income in your IRA or
the proceeds to settle the purchase. whether a specific securities transaction you have made would be
We may also use property to satisfy a margin deficiency or other deemed a prohibited transaction under ERISA and §4975 of the
obligation, whether or not we have made advances in connection Internal Revenue Code.
with this property. This provision extends to any property held by you
or carried for any account of yours, including any credit balances, If You Transfer Money to a Fidelity Digital AssetsSM
assets, and contracts, as well as shares of any mutual funds or other Crypto Trading Account (“Crypto Account”)
investment companies for which Fidelity or an affiliate provides man- When you transfer money from your Account to a linked Crypto
agement or administrative services. Although Fidelity may use other Account, you authorize Fidelity to debit your Account for the appli-
methods, Fidelity reserves the right to use the provisions described in cable amount and transfer it to Fidelity Digital AssetsSM. Additionally,
this section at any time, except in cases involving retirement accounts when you transfer sales proceeds from a linked Crypto Account
when these provisions would conflict with the Employee Retirement to your Account, you authorize Fidelity to accept a credit into your
Income Security Act of 1974 (ERISA) or the Internal Revenue Code of Account from Fidelity Digital AssetsSM. Crypto Accounts are governed
1986, both as amended. by the Fidelity Crypto Customer Agreement (“Crypto Agreement”).
Neither FBS nor NFS acts as your agent, receives, acquires or holds
any of your digital assets, nor is otherwise responsible for transactions
in your Crypto Account with Fidelity Digital AssetsSM. Please read the
Crypto Agreement carefully to understand the terms of your
relationship with Fidelity Digital AssetsSM.

FIDELITY ACCOUNT CUSTOMER AGREEMENT 9

Policies on Optional Features Dividends are reinvested on shares that satisfy all of the following:
• the security is eligible
Debit Cards and Bill Pay Service • you own the shares on the dividend record date
These features are available to nonretirement accounts that have
individual or joint registrations. Some cards may be available for trust • you own the shares on the dividend payable date (even if you sell
or retirement registrations. On joint accounts, a co-owner may apply them that day)
for an additional card in his or her own name. As an account owner, • your position in the security has been settled on or before the
you are responsible for all usage of these features. dividend record date
Each of these features is covered by its own customer agreement, • the shares are designated for reinvestment as of 9 p.m. Eastern
which collectively are incorporated herein by reference (are legally time on the dividend record date
considered part of this Agreement). The appropriate agreement will Shares purchased through the Dividend Reinvestment Program will
be provided to you when you apply for a feature. For each feature generally be placed in your account as of the dividend payable date.
you choose, it is your responsibility to understand the terms of its Note, however, that the stock price at which your reinvestment
agreement before you begin using the feature. In the case of credit occurs is not necessarily the same as the price that is in effect on
or debit cards, it is also your responsibility to advise any other card the dividend payable date. This is because we generally buy the
holders on your account that these agreements will apply to them, shares of domestic companies one business day before the dividend
that they may be responsible for paying any charges you or other payable date, at the market price(s) in effect at the time, in order to
card holders fail to pay, and that their credit records may be affected help ensure that we have shares on hand to place in your account on
by any activity on the account, whether attributable to them or not. the dividend payable date. Other factors may require the purchase of
Total debit card transactions generally are limited to your available the shares on a different business day, which may be before, on, or
balance. after the dividend payable date, e.g., dividends of foreign companies.
Note that on any account, we typically reduce your available balance Also, shares of securities that have an irregular ex-dividend date are
at the time you make a debit card transaction, rather than waiting for purchased on the ex-dividend date and placed in your account on the
the transaction to be posted to your account. first business day following the ex-dividend 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
Bank Wires and Electronic Funds Transfer (EFTs) significant changes in the market price of a security just before its div-
Bank wire transfers to your bank are normally processed the same idend payable date. If several purchase transactions are necessary to
day, depending on the time received. A wire normally may be for reinvest your and other customers’ dividends in a particular security,
between $10,000 and $999,999. the price per share will be the weighted average price per share for
EFTs are normally completed within three business days of your all shares purchased. If sufficient shares are unavailable in the market
request. Money deposited via EFT is normally not available for with- to satisfy all customers’ requirements for dividend reinvestment for
drawal for four to six business days. An EFT transfer may be from a security, the dividend will not be reinvested. The reinvestment of
$10 to $100,000. For the EFT feature to be established, at least one dividends may be delayed in certain circumstances. NFS reserves the
common name must match exactly between your Fidelity and bank right to suspend or completely remove securities from participation in
accounts. To send and receive EFT transactions, your bank must be a dividend reinvestment and credit such dividends in cash at any time
member of the Automated Clearing House (ACH) system. without notice.
For EFT transactions, you hereby grant us limited power of attorney Automatic reinvestments often involve purchase of fractional shares,
for purposes of redeeming any shares in your accounts (with the calculated to three decimal places. Partial shares pay prorated divi-
right to make any necessary substitutions), and direct us to accept dends and can be sold if you sell your entire share position, and will
any orders to make payments to an authorized bank account and to be liquidated automatically in transfers and certain other situations,
fulfill these orders through the redemption of shares in your account. but otherwise typically cannot be sold.
You agree that the above appointments and authorizations will con- Although for dividend reinvestments your regular account statement
tinue until we receive written notice of any change, although we may takes the place of a trade confirmation, you can generally obtain
cease to act as agents to the above appointments on 30 days’ written status information the day after the reinvestment date by contacting
notice to your account’s address of record. You further understand Fidelity.
that Fidelity may notify you electronically or by phone when the EFT
If you transfer or reregister your account within Fidelity (for example, by
feature is set up or EFT transactions are initiated on your account.
changing from a Traditional IRA to a Roth IRA), you need to re-desig-
If you have arranged to have direct deposits made to your account, at nate any securities whose dividends you want reinvested.
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 DTC’s Dividend Reinvestment Program
has been made.
For certain securities, dividend reinvestment may occur through DTC’s
(Depository Trust Company) dividend reinvestment program (DRP).
Dividend Reinvestment Program This plan may be utilized if an issuer offers reinvestment at a dis-
With this feature, all dividends paid by eligible securities that you count. Eligibility for a security to be enrolled in the DRP or the Fidelity
designate for reinvestment are automatically reinvested in addi- dividend reinvestment program is determined by Fidelity and may
tional shares of the same security. (For purposes of the Dividend change without notice. A DRP transaction will post to your account
Reinvestment Program, “dividends” means cash dividends and when the shares are made available to Fidelity by DTC. Such transac-
capital gain distributions, late ex-dividend payments, and special tions are generally posted within 15 days after pay date.
dividend payments, but not cash-in-lieu payments.) In designating Note that dividend reinvestment does not ensure a profit on your
any eligible security for reinvestment, you authorize us to purchase investments and does not protect against loss in declining markets. If
shares of that security for your account. you sell your dividend-generating shares before the posting date, the
To be eligible for this feature, a security must satisfy all of the dividend will not be reinvested.
following:
• be a closed-end fund, common stock, or foreign security (generally Optional Dividends
American depository receipts [ADRs]) At times certain issuers that pay dividends may offer shareholders an
• be margin eligible (as defined by NFS) opportunity to elect to receive stock or cash, or a combination
of both. This is known as an “Optional Dividend.” The issuer will
• be held in street name by NFS (or at a securities depository on
assign a default if no instruction is received. For example, the default
its behalf)
option could be cash, stock, or a combination of both. You have the
• not be held as a short position 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

10 FIDELITY ACCOUNT CUSTOMER AGREEMENT

be assigned a default election based on the dividend reinvestment All orders with a fractional share component will be marked “Not
program instructions you established with respect to your account. Held,” which gives Fidelity the time and price discretion to execute
This default election will be utilized in lieu of the issuer’s default the order without being held to the security’s current quote. In
option being applied to your account. connection therewith, each time you submit an order to buy or sell
a fractional share quantity or dollar amount of a particular secu-
rity, you authorize NFS to “work the order.” If you do not wish your
Fractional Share Trading order to be handled on a Not Held basis, you should not engage in
Fractional Trading.
Fidelity’s fractional share trading functionality allows you to buy and
In the case of a sale of the fractional component of any order, that
sell fractional share quantities and dollar amounts of certain securities
sale will be executed at the then current National Best Bid or Offer
(“Fractional Trading”). Fractional Trading presents unique risks and
(“NBBO”). Please note that this price may be higher or lower than the
has certain limitations that you should understand before placing
price at the time you place your order. In the case of a purchase of
your first trade.
the fractional component of any order, if NFS has sufficient principal
inventory, that purchase will also be executed at the then current
Trading NBBO. However, if NFS does not have sufficient principal inventory,
Orders to buy or sell may be entered using either a fractional share that purchase will be executed at the price received in the market.
quantity (e.g., 2.525 shares) or a dollar value (e.g., $250.00). Share For orders placed prior to market open, Fidelity may wait for the
quantities can be specified to three decimal places (.001). Dollar- primary exchange to open before commencing trading in a particu-
value orders will be converted into share quantities for execution, lar security. When trading as principal for its own account, NFS may
again, to three decimal places. In all cases, when converting make a profit or incur a loss on each trade.
dollar-value orders into share quantities, the share quantities will Additionally, NFS may be required to correct or adjust trades that
be rounded down. (for a variety of reasons) have been executed in amounts that either
For a variety of reasons, including but not limited to this conversion exceed or fall short of the amounts requested. These trade correc-
convention, the actual amount of an executed dollar-value trade may tions and adjustments could arise in connection with either or both
be different from the requested amount. The actual amount of an of the agency and principal components of the executed orders.
executed order to buy or sell a dollar value of a security may also be Regardless, these trade corrections and adjustments will be executed
lower than the amount requested due to the deduction of certain by NFS in a principal capacity, and when trading as principal for its
fees (e.g., the Additional Assessment) or taxes. own account, NFS may make a profit or incur a loss.
Orders received in good form by FBS will be accepted and trans-
mitted to NFS for execution. You may attempt to cancel an order, Shareholder Rights
but there is no ability to request that an order be “cancelled and Fractional share interests in an NMS security generally have different
replaced” (i.e., you cannot modify an order once it has been submit- rights from full share interests of the same NMS security. Please read
ted). Instead, you will need to cancel your order and then submit a the following information carefully to understand your rights regard-
new one. ing your fractional share interests.
Fractional Trading supports market and limit orders only for fractional Fractional share positions cannot be transferred or certificated. The
share quantities of a security that are good for that day’s trading ses- Automated Customer Account Transfer System does not support
sion, or in the case of an order entered outside of market hours, that fractional share positions. If you want to transfer your account or spe-
are good until the close of the next trading session. Because of this, cific share positions to another broker, you must sell your fractional
your ability to buy or sell a security using Fractional Trading may be positions and transfer the cash proceeds.
more restricted than if you were to buy or sell traditional whole share You hereby direct NFS, and NFS hereby agrees, not to vote or take
quantities of the same security. any discretionary or voluntary action with respect to any fractional
In the event of a trading halt of a security, Fractional Trading of that share position. Furthermore, you acknowledge that you cannot vote
security will also be halted, and your order will be held until trading or take any discretionary or voluntary action with respect to any
resumes. However, your order is good only for that day’s trading fractional share position. Accordingly, while NFS may notify you
session, or in the case of an order entered outside of market hours, of issuer meetings, NFS will not solicit proxies in connection with
good until the close of the next trading session. If trading does not fractional share positions, and you cannot vote proxies for fractional
resume or your order is not executed by the close of that day’s share positions. Fractional shareholders will not be able to provide
Fractional Trading window, it will be cancelled. instruction in connection with voluntary corporate actions (e.g., ten-
You can generally trade exchange-listed National Market System ders), except for optional dividends; and NFS will not vote proxies
(“NMS”) stocks using the Fractional Trading functionality. However, for any fractional shares it holds as principal and will not affirmatively
certain NMS stocks may not be made available for Fractional Trading, participate in any voluntary corporate actions.
and Fidelity reserves the right to modify the list of eligible NMS stocks In the case of a dividend paid on, or a redemption of, an NMS secu-
at any time without notice to you. Any modification to the list of eli- rity, the dividend or redemption proceeds will be passed along to
gible NMS stocks available for Fractional Trading will not affect any you in proportion to your ownership interest, inclusive of fractional
fractional share interests previously acquired by you. In certain limited share interests. NFS will only support payments that are equal to
circumstances, you may also be able to sell a fractional share interest or greater than $0.01 per share. Amounts smaller than that, or non-
in a security that is no longer an NMS stock, provided that it was an divisible amounts (based on the .001 rounding convention described
NMS stock at the time you purchased it and your fractional interest above), will be handled in accordance with the process described in
was acquired using the Fractional Trading functionality. Additionally, the section titled “Undistributable Interests” below.
you may not be able to place trades through some of Fidelity’s order Holders of fractional share positions may participate in dividend rein-
entry platforms (e.g., Fractional Trading may be available via mobile vestment programs (“DRIPs”) to the same extent as if they owned a
device but not through the live representative channel). 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
Trade Execution the .001 rounding convention described above), but large enough
FBS will act as your agent and NFS will act in either a principal or a to be distributed as cash (i.e., at least $0.01), it will be paid to you.
mixed capacity (i.e., both as agent and principal) when executing Smaller amounts will be handled in accordance with the process
your order. The whole share component of any order will be exe- described in the section titled “Undistributable Interests” below.
cuted by NFS as agent at the price NFS receives in the market. The For mandatory reorganizations, such as mergers and acquisitions,
fractional share component of any order will be executed by NFS or other involuntary corporate actions, such as stock splits or stock
as principal against its principal account. When a fractional share dividends, typically NFS will distribute interests in proportion to your
interest is allocated to your account, NFS will maintain custody of the ownership interest, inclusive of fractional share interests. NFS will
whole share in which you have the fractional interest. Any fractional distribute interests in fractional amounts to three decimal places.
share interest in the whole share not allocated to your account may Amounts smaller than that, or nondivisible amounts, will be
be allocated to other customers or to NFS as principal.

FIDELITY ACCOUNT CUSTOMER AGREEMENT 11

handled in accordance with the process described in the section Fractional New Issue Certificates of
titled “Undistributable Interests” below. The foregoing notwithstand-
ing, these situations are in all cases subject to the terms contained in Deposit
the materials prepared by the issuer describing the corporate action,
as well as NFS’s applicable policies and procedures, which may result Fidelity’s fractional CD functionality allows you to buy fractional
in a different outcome from what is described herein. quantities of certain new issue CDs (“Fractional CDs”) in certain incre-
mental amounts (such as $100, although this amount may vary over
Because of the unpredictable nature of corporate actions, there time). There are certain limitations that you should understand before
may be situations that arise that are not described previously. investing in Fractional CDs. Fractional CDs are intended to be held
Generally, these situations will be handled in accordance with the until maturity due to the illiquid nature of CDs in general. However,
concepts applicable to dividends and reorganizations. Interests will should you need to liquidate a fractional CD, you will need to obtain
be divided and distributed where possible in proportion to your a bid for the fractional portion of your CD. Due to the limited market
ownership interest, and anything that cannot be divided will be han- for fractional CDs, FBS will request a bid from NFS only. NFS does
dled in accordance with the process described in the section titled not guarantee that there will be a market for fractional CDs. Orders
“Undistributable Interests” below. The foregoing notwithstanding, to sell fractional CDs may only be requested in the amount that was
these situations are in all cases subject to the terms contained in the originally purchased as a fractional CD. You will not be able to sell a
materials prepared by the issuer describing the corporate action, as fractional portion of a CD that was purchased as a whole CD.
well as NFS’s applicable policies and procedures, which may result in
a different outcome from what is described above.
Transfer of Fractional Positions
The Automated Customer Account Transfer System does not support
Undistributable Interests fractional positions. If you want to transfer your account or specific
NFS will only support payments that are equal to or greater than share positions to another broker, you must sell your fractional
$0.01 per share. Amounts smaller than that, or nondivisible amounts positions and transfer the cash proceeds.
(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 Undistributable Interests
$1.00, it will be retained by NFS, and when it exceeds $1.00, it will NFS will only support payments that are equal to or greater than
be escheated. $0.01 per share. Amounts smaller than that, or nondivisible amounts,
will not be distributed.
Tax Treatment Tax Treatment
NFS and you agree to treat you as the owner of all fractional share NFS and you agree to treat you as the owner of all fractional CD
interests allocated to your account, to file all tax returns in accor- interests allocated to your account, to file all tax returns in accor-
dance with such treatment, and to take no action inconsistent with dance with such treatment, and to take no action inconsistent with
such treatment. such treatment.

Additional Considerations Additional Considerations

Fractional share positions may be illiquid. NFS does not guarantee Fractional positions may be illiquid. NFS does not guarantee that
that there will be a market for fractional share positions and makes there will be a market for fractional positions and makes no repre-
no representations or warranties about its ability or willingness to sentations or warranties about its ability or willingness to continue to
continue to trade as principal in fractional share quantities. trade as principal in fractional quantities. If your account is closed,
If your account is closed, your fractional shares may be liquidated your fractional position may be liquidated and the proceeds distrib-
and the proceeds distributed to you as cash. uted to you as cash.
The fractional share component of certain orders may not be eligible
for “Price Improvement.” Also, Price Improvement will operate differ- Fidelity Stock Plan Services
ently, and in some situations less advantageously, in connection with
Fractional Trading from the way it would if you were trading in whole If you are a participant in equity compensation plans (“Stock Plans”)
share quantities. Additionally, because in certain situations Price and associated equity compensation rights under those Stock Plans
Improvement on the fractional share component of an order will (collectively “Rights”) of your employer (together with its affiliates the
affect the execution price rather than the share quantity of an order, “Issuer”) for which Fidelity Stock Plan Services provides recordkeep-
the effect of the improvement on a dollar-value order in those situa- ing and administrative services (the “Stock Plan Services”), then with
tions will be to increase or decrease the value of the order outside of respect to the Stock Plan Services and your individual brokerage
what was requested. account identified to be used in connection with the Stock Plan
If your account has been approved for margin, notwithstanding the Services, you agree as follows:
terms of the Customer Agreement, Fidelity will not lend (hypothe- • You acknowledge that the terms of the Stock Plans and of your Rights
cate) your fractional share positions. are determined by the Issuer, and that you have received, reviewed,
If you hold fractional share positions in your account (these positions and understand the information distributed to you by the Issuer in
come about for a variety of reasons, such as DRIPs or corporate connection with such Stock Plans and Rights, including any applica-
actions), it has been Fidelity’s practice to automatically sell these ble prospectus, grant, or enrollment agreement, or other Stock Plan
holdings when you place an order to sell your entire whole share document (collectively “Plan Documents”).
position (“Auto-liquidate”). The first time you place an order to buy • You acknowledge that various federal and state laws or regulations
or sell a security using the Fractional Trading functionality, we will may be applicable to your transactions, including, without limitation,
turn off the Auto-liquidate feature in your account so that going for- Rule 144 under the Securities Act of 1933 and Section 16(b) of the
ward, those positions will be handled like any other fractional share Securities Exchange Act of 1934, and you agree to conduct these
position acquired using Fractional Trading (i.e., you will need to affir- transactions in conformity with all applicable laws and regulations.
matively sell those fractional share positions if you wish to sell your • You acknowledge that your rights and obligations with respect to the
entire position in that security). 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.

12 FIDELITY ACCOUNT CUSTOMER AGREEMENT

• You acknowledge that certain events may affect your rights and that are not associated with your employer’s Stock Plans will not be
obligations with respect to the Rights (including, without limitation, changed based on Issuer provided information. You may designate
changes in your employment relationship with the Issuer), and that an address at your discretion, and if you do so, Fidelity will no longer
you are responsible for understanding your rights and obligations accept address changes to your accounts from Issuer unless you
with respect to the Rights. instruct Fidelity otherwise.
• 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, Precious Metals
or take other actions with respect to the Rights on your behalf, or to
hold, transfer, or sell shares in your account. Precious metals are not covered by SIPC account protection, but
are insured by the depository at market value if stored through us.
• You authorize and direct Fidelity to act on instructions given on your When trading precious metals, note that because they can experience
behalf by the Issuer to Fidelity with respect to Rights in connection sudden and rapid price changes, they are risky as investments, and we
with the Issuer, including, without limitation, to exercise, to purchase cannot guarantee you an advantageous price when you trade them.
shares, to take other actions with respect to the Rights on your If you take delivery of precious metals, delivery charges, sales and use
behalf, to sell shares in your account, and to transfer shares or funds taxes, and storage fees will apply.
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,
Closing Your Account
except in the case of an unexecuted limit order, which you may We can close your account, or terminate any optional feature,
attempt to cancel. at any time, for any reason, and without prior notice. You can close
• You authorize the Issuer or its agent to rely without further investiga- your account, or terminate any optional feature, by notifying us in
tion on this authorization as conclusive evidence of your irrevocable writing or calling us on a recorded line. We may automatically close
election to authorize Fidelity to act on your behalf with respect to accounts with zero balances.
the Rights, including exercising your Rights in accordance with and Regardless of how or when your account is closed, you will remain
subject to the terms, provisions, and conditions of the Issuer’s Stock responsible for all charges, debit items, or other transactions you initi-
Plans and the Plan Documents. ated or authorized, whether arising before or after termination. Note
• In connection with certain Stock Plans, you may agree to certain con- that a final disbursement of assets may be delayed until any remain-
tractual limitations on the shares that you obtain through the Stock ing issues have been resolved.
Plan, including, without limitation, contractual restrictions on your If your account has a balance of less than $100 and no account activ-
ability to sell securities you obtain in connection with Stock Plans, ity has occurred for a 6-month period, you authorize Fidelity to sell
and you hereby consent to and authorize Fidelity to take actions the securities in the account, send a check for all the proceeds and
reasonable and necessary to enforce such contractual limitations in any other cash to your address of record, and close your account.
accordance with the Stock Plans and the Plan Documents.
• You authorize Fidelity, the Issuer, and their agents to exchange infor-
mation regarding the exercise of your Rights and your purchase and Monitoring Your Account and
sale of shares, including, without limitation, notice of exercise, number
of shares, sale date, sale price, and income tax information relating to Notifying Us of Errors
compensation income and tax withholding in relation to these transac-
tions and subsequent sales, transfers, and dispositions of shares. As an account owner, you are responsible for monitoring your account.
This includes making sure that you are receiving transaction confirma-
• Fidelity reserves the right to reject any order to sell shares in your tions, account statements, and any other expected communications. It
account until shares are properly delivered by the Issuer and also includes reviewing these documents to see that information about
deposited into your account. your account is accurate and contains nothing suspicious. Please note
• You authorize the Issuer or its agent to issue shares in connection that, unless we have otherwise contractually agreed to do so, we do
with any Rights to Fidelity in street name and to forward the shares not have an ongoing responsibility to monitor an investment strategy,
(plus any dividend, split, or similar distribution paid by the Issuer or account type, or securities bought, sold, or held in your account, even
its agent with respect to such shares) directly to Fidelity for in cases where we have made a recommendation.
your account.
Note that so long as we send communications to you at the physical
• You acknowledge that the Rights were granted in connection with or electronic address of record given on the application, or to any
your employment and, at the time of exercise, purchase, or other other address given to us by you or any other authorized person,
direction you give to Fidelity, you will be authorized to exercise, the communications are legally presumed to have been delivered,
purchase, or take such other action. whether you actually received them or not. In addition, confirma-
• You understand that the Rights and/or the subsequent sale of the tions and statements are legally presumed to be accurate unless you
shares may have significant tax consequences. You further understand specifically tell us otherwise.
that Fidelity and its agents and employees are not authorized to give If you have not received a communication you expected, or if
you tax or investment advice, and you have consulted such other you have a question or believe you have found an error in any
sources you deem appropriate in connection with your transactions. communication from us, telephone us immediately, then follow up
• You may have obligations regarding the sale or disposition of Rights with written confirmation.
within your Stock Plan documents or through other agreements with
You agree to notify us immediately if:
Issuer. Issuer may request Fidelity to provide recordkeeping and
administrative support for certain events related to such sale or dis- • you placed an order electronically but did not receive a reference
position of securities with respect to the exercise of your Rights. You number for it (an electronic order is not considered received until
understand Fidelity shall not be liable for any losses resulting from we have issued an acknowledgment)
the handling or market execution of your orders with respect to the • you received confirmation of an order you did not place, or any
exercise of your Rights. similar conflicting report
• You agree to indemnify Fidelity for any loss we may suffer as a result • there is any other type of discrepancy or suspicious or unexplained
of our compliance with the authorizations set forth herein and any occurrence relating to your account
instructions given by you.
• your password or access device is lost or stolen, or you believe
If Issuer has elected to provide address change information to Stock someone has been using it without authorization
Plan Services, all such changes received from Issuer will be applied to
your account, as well as any other accounts that are currently house- If any of these conditions occurs and you fail to notify us immediately,
holded with that account. By establishing your account, you consent neither we nor any other Fidelity affiliate will be liable for any con-
to Fidelity applying Issuer provided address changes until you notify sequences. If you do immediately notify us, our liability is limited as
us to the contrary. All other accounts held currently or in the future described in this Agreement.
FIDELITY ACCOUNT CUSTOMER AGREEMENT 13
With any feature or service that is governed by a separate agreement You therefore agree that we are not responsible for any losses you
(such as a credit card agreement), note that different policies con- incur (meaning claims, damages, actions, demands, investment
cerning error resolution and liability may apply, as described in the losses, or other losses, as well as any costs, charges, attorneys’ fees,
separate agreement. or other fees and expenses) as a result of any of the following:
If, through any error, you have received property that is not rightfully • the acceptance and processing of any order placed on your
yours, you agree to notify us and return the property immediately. account, whether received electronically or through other means,
If we identify an error in connection with property you have received as long as the order reasonably appears to be authentic; or the
from or through us or a Fidelity affiliate and determine it is not right- refusal to accept or execute any order, instruction, or transfer as
fully yours, you agree that we may take action to correct the error, Fidelity may elect to do at any time
which may include returning such property to the rightful owner. • 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
Complying with Applicable Laws trade, including but not limited to situations where a third party
caused such error
and Regulations • cancellation of an accepted/executed trade when dealers and/or
In keeping with federal and state laws, and with securities industry contra-parties notify Fidelity that they are unable to deliver the
regulations, you agree to notify us in writing if any of the following bonds because the order was filled in error
occur (with all terms in quotes defined as being within the meaning • investment decisions or instructions placed on your account, or
of the Securities Act of 1933): other such actions attributable to you or any authorized person
• if you (or an authorized person on your account) are, or later • occurrences related to governments or markets, such as restrictions,
become, an employee or other “associated person” of a stock suspensions of trading, or high market volatility or trading volumes
exchange, a member firm of an exchange or the Financial Industry
• uncontrollable circumstances in the world at large, such as wars,
Regulatory Authority (FINRA), a municipal securities dealer, or
natural disasters, power outages, unusual weather conditions, or
Fidelity or any Fidelity “affiliate”
government restrictions
• if you are, or later become, an “affiliate” or “control person” with
• occurrences related to computers and communications, such
respect to any security held in your account
as a network or systems failure, a message interception, or an
• if any transactions in your account regarding securities whose instance of unauthorized access or breach of security
resale, transfer, delivery, or negotiation must be reported under
• with respect to electronically provided market data or other informa-
state or federal laws
tion provided by third parties, any flaw in the timing, transmission,
You also agree: receipt, or substance (such as any inaccuracy, error, delay, omission,
• if you (or an authorized person on your account) are, or later or sequence error, any nonperformance, or any interruption of infor-
become, an “associated person” of a member firm of an exchange mation), regardless of who or what has caused it to occur
or FINRA, that (1) you have obtained consent of the “employer • the storage and use of information about you and your account(s)
member,” (2) you authorize Fidelity upon request by an employer by our systems and transmission of this information between you
member to transmit copies of confirmations and statements, or and us; these activities occur entirely at your risk
the transactional data contained therein, with respect to all of your
• the usage of information received by you or us through any
accounts, including all accounts subject to FINRA rules and unit
electronic services
investment trusts, municipal fund securities, and qualified programs
pursuant to Section 529 of the Internal Revenue Code and (3) you • telephone requests for redemptions, so long as we transmit the
have consulted with the Compliance office of the “employer mem- proceeds to you or the bank account number identified
ber” regarding any bonuses or cash rewards that may be available to • difficulties receiving information or accessing your account that are
you or your family member from either’s participation in any of our due to the equipment you use, including difficulties resulting from
promotions. technical incompatibilities, malfunctions, inherent limitations, or
• to ensure that your account transactions comply with all applicable interruptions in service
laws and regulations, understanding that any transaction subject to • any checks or other debits to your account that are not honored
special conditions may be delayed until those conditions are met because the account has insufficient funds
• to comply with all policies and procedures concerning “restricted” If any service failure is determined to be our responsibility, we will be
and “control” securities that we may require liable only for whatever direct benefit you would have realized up to
• to comply with any insider trading policies that may apply to you as the time by which you should have notified us, as specified earlier in
an employee or “affiliate” of the issuer of a security “Monitoring Your Account and Notifying Us of Errors.” Fidelity reserves
the right to restrict your account from withdrawals and/or trades if there
We will assume that any securities or transactions in your account is a reasonable suspicion of fraud, diminished capacity, or inappropri-
are not subject to the laws and regulations regarding “restricted” and ate activity. Fidelity also reserves the right to restrict your account from
“control” securities unless you specifically tell us otherwise. withdrawals and/or trades if Fidelity is put on reasonable notice that the
If you or another individual associated with your account resides out- ownership of some or all of the assets in the account is in dispute.
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 Indemnification
features, products or services. By opening or maintaining an account You agree to indemnify us from, and hold us harmless for, any losses
with Fidelity, you acknowledge that Fidelity does not solicit offers to (as defined in “Limits to our Responsibility”) resulting from your
buy or sell securities, or any other product or service, to any person in actions or failures to act, whether intentional or not, including losses
any jurisdiction where such offer, solicitation, purchase or sale would resulting from actions taken by third parties.
be unlawful under the laws of such jurisdiction.
If you use any third-party services or devices in connection with your
account (such as Internet service or wireless devices), all service agree-
Limits to Our Responsibility ments and payments for these are your responsibility. Rates and terms
are set by the service providers and are not Fidelity’s responsibility.
Although we strive to ensure the quality and reliability of our services, Note that beyond taking reasonable steps to verify the authenticity
including electronic services (such as online, wireless, and automated of instructions, we have no obligation to inquire into the purpose,
telephone services), neither we nor any third party whose services we wisdom, or propriety of any instruction we receive.
arrange for are responsible for the availability, accuracy, timeliness,
completeness, or security of any service related to your account.

14 FIDELITY ACCOUNT CUSTOMER AGREEMENT

Terms Concerning This Agreement
Applicability
Borrowing on Margin
This Agreement is the only agreement between you and us concern- While margin can be a beneficial tool for investors, it involves signif-
ing its subject matter, and covers all accounts that you, at whatever icant risks (see the box “Important Information about Using Margin
time, open, reopen, or have opened with us. In addition, if you have and Its Risks”) and is not suitable for all investors. Margin is not
already entered into any agreements concerning services or features available on retirement accounts.
that relate to this account (such as the usage agreement or Terms of If your account is approved for margin, you agree that all margin-
Use for Fidelity.com, accessible on the footer on Fidelity.com), or if able assets will be held in a margin account, unless you tell us to
you do so in the future, this Agreement incorporates by reference the the contrary (precious metals are not marginable). The Intra-day and
terms, conditions, and policies of those agreements. In the case of After-hours Free Credit Balance, money in the core account, and
any conflict between this Agreement and an agreement for a particu- any cash dividends paid on marginable securities, are automatically
lar service or feature, the service or feature agreement will prevail. applied to your margin debt, unless you tell us otherwise.
When you borrow on margin, you agree to maintain the level of
Governing Laws and Policies margin collateral we require (which we may change in our sole
This Agreement and its enforcement are governed by the laws discretion at any time without prior notice).
of the Commonwealth of Massachusetts, except with respect to
Should we believe it necessary to protect our interests, we may take
its conflicts-of-law provisions.
any or all of the following steps at any time without prior notice, and
All transactions through Fidelity are subject to the rules and customs you will be charged the Rep-Assisted commission rate on each trade:
of the marketplace where they are executed, as well as applicable
• sell assets, or contracts relating to these, that are in your account
state and federal laws. In addition, the services below are subject to
the following laws and policies: • 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
• Securities trades: any Fidelity trading policies and limitations that
commitment on your behalf
are in effect at the time
• place stop orders with respect to these securities
• Online services: the license or usage terms posted online
How and when we can take these steps:
• Checkwriting: the applicable provisions of the Uniform Commer­cial
Code and the terms governing the service • at any time, during regular market hours or otherwise
• for any cause, including but not limited to:
Modification and Enforcement • if the value of your account equity falls
We may amend or terminate this Agreement at any time. This may • if you fail to meet — or indicate that you intend to fail to meet — any
include changing, dropping, or adding fees and policies, changing call for additional collateral
features and services or the entities that provide them (such as the
bank that provides clearing services for checkwriting), and limiting • high market volatility
the usage or availability of any feature or service, within the limits • an account owner’s death or petition for bankruptcy
of applicable laws and regulations. Although it is our policy to send • an attachment or court order
notice to account owners of any material changes, we are not obli-
gated to do so in most cases. Outside of changes originating in these • any other situation which, in Fidelity’s sole discretion, believes such
ways, no provision of this Agreement can be amended or waived action is warranted to prevent the account from going deficit
except in writing by an authorized representative of Fidelity. • with or without notifying you that a call is due and even if you have
Fidelity may transfer its interests in this account or agreement to notified Fidelity that you will be providing additional collateral for
any of its successors and assigns, whether by merger, consolidation, your Account
or otherwise. You may not transfer your interests in your account We may sell your securities or other assets without contacting
or agreement (including de facto transferal by giving a nonowner you. Some investors mistakenly believe that Fidelity must contact
access to the account using a password) except with the prior them for a margin call to be valid, and that Fidelity cannot liquidate
written approval of Fidelity, or through inheritance, corporate disso- securities or other assets in their accounts unless Fidelity has contacted
lution, or similar circumstance, as allowed by law, in which case any them first. This is not the case. Fidelity may attempt to notify you of
rights and obligations in existence at the time will accrue to, and be margin calls, but is not required to do so. In addition, even if Fidelity
binding on, your heirs, executors, administrators, successors, has contacted you and provided a specific date by which you can meet
or assigns. a margin call, Fidelity can still take the necessary steps to protect its
We may enforce this Agreement against any and all account owners. financial interest prior to that date, including immediately selling the
In addition, any securities exchanges or associations that provide securities without notice to you. You understand that if Fidelity contacts
information to you through your account may enforce the terms of you in advance in certain instances, Fidelity is not obligated to do so
this Agreement directly against you. Although we may not always and such action will not be deemed a waiver of Fidelity’s rights under
enforce certain provisions of this Agreement, we retain our full right this Agreement. In addition, short positions are subject to buy-in at any
to do so at any time. time and you bear sole responsibility for the buy-in price.
If any provision of this Agreement is found to be in conflict with You understand and agree that you are responsible for any losses in
applicable laws, rules, or regulations, either present or future, that your account that may arise as a result of the actions outlined above.
provision will be enforced to the maximum extent allowable, or Note that property in a margin account may be pledged or
made to conform, as the case may be. However, the remainder of repledged, hypothecated (loaned) or rehypothecated, either sep-
this Agreement will remain fully in effect. arately or in com­mon with any other property, for as much as your
Fidelity may use the electronically stored copy of your (or your obligation to us or more, without our having to retain a like amount
agent’s) signature, any written instructions or authorizations, the of similar property in our control for delivery. Because we have the
account application and this Agreement as the true, complete, right to pledge or repledge, hypothecate or rehypothecate, property
valid, authentic and enforceable record, admissible in judicial, in a margin account, you may not be entitled to receive certain ben-
administrative or arbitration proceedings to the same extent as if the efits that may normally accrue with respect to such property, such as
documents and records were originally generated and maintained in the ability to exercise voting rights, or to receive interest, dividends,
printed form. You agree to not contest the admissibility or enforce- or other distributions, and you may instead receive (and you agree
ability of the electronically stored copies of such documents in any that we may provide) such benefits in a different form, such as a cash
proceeding between you and Fidelity. substitute payment. Such substitute payments may not receive the
same tax treatment as actual interest, dividends, or other distribu-
tions, and you may therefore incur additional tax liability. Also, we
may at any time, and without notice to you, transfer any property

FIDELITY ACCOUNT CUSTOMER AGREEMENT 15

between any of your accounts, whether individual or joint, or from particular marketplace, our order-routing policies are designed to
any of your accounts to any account you guarantee. As permitted by result in transaction processing that is favorable for you. NFS reserves
law, we may use certain securities for, among other things, settling the right to wait for the primary exchange to open before commenc-
short sales and lending securities for short sales and as a result may ing trading in a particular security.
receive compensation in connection therewith.
Additional terms concerning margin appear elsewhere in this
Agreement under “Your Commitments to Fidelity,” “Optional Conflicts of Interest and Compensation
Features,” “Account Usage,” and “Service Providers” under “Fees”
Fidelity and its affiliates receive fees for providing certain products
in the Additional Information section, and in the section entitled
and services. Below is a partial list of affiliates and the services they
“Important Information about Using Margin and Its Risks.”
are paid for:
• Fidelity Management & Research Company — fee for serving as an

Disclosures 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
Credit-Related Information or market centers for execution. In addition to sales loads and
12b-1 fees described in the prospectus, FBS and/or NFS receives
For the name and address of any credit reporting agency from other compensation in connection with the purchase of certain
whom we or a third-party service provider has obtained information mutual fund shares and/or the ongoing maintenance of those
about you, send a written request to us or the service provider, positions in your brokerage account. This additional compensation
as applicable. may be paid by the mutual fund, its investment advisor, or one of
If you apply for a debit or credit card, we may share information its affiliates. FBS, NFS, or their affiliates may receive compensation
about you and other card applicants with card issuers, which are in connection with the purchase and/or ongoing maintenance of
not affiliated with Fidelity. If you don’t want a third-party service positions in certain mutual funds in your account. FBS, NFS, or their
provider to share information about you with other entities in turn, affiliates may also receive compensation for such things as systems
it is your responsibility to inform the card issuer of this. 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.
Consumer Reporting Agencies This compensation may take the form of sales loads and 12b-1
fees described in the prospectus; marketing, engagement and
We may report information about your account to credit bureaus. analytics program participation fees; maintenance fees; start-up
Late payments, missed payments, or other defaults on your account fees; and platform support paid by the fund, its investment advisor,
may be reflected in your credit report. or an affiliate. Information about the source(s) and amount(s) of
We may also provide information about you and your account as well compensation as well as other remuneration received by FBS and/or
as the activity in your account to one or more consumer reporting NFS and other affiliates is also more fully described in the FBS Form
agencies. If you believe that information Fidelity has provided about CRS and the Products, Services, and Conflicts of Interest disclosure
you or your account or the activity in your account is not accurate, document, available online at Fidelity.com/Reg-BI-Master-Disclosure
you may notify us at: and information about the foregoing is also available upon written
Fidelity Investments request.
Attn: Customer Data Disputes
PO Box 770001
Cincinnati, OH 45277-0045 Warranty Disclaimer
In order for us to investigate any dispute that you may submit to us Neither we nor any third party makes any representations or
with respect to information that we have provided, please provide us warranties express or implied, including, without limitation, any
with the following information: implied warranties of merchantability or fitness for a particular
(1) Your name, address, and account number; purpose in respect of any services provided in connection with
this account, or any information programs or products obtained
(2) An identification of the specific information that you believe is from, through, or in connection with these services. In no event
not accurate; and will we or any third party be liable for direct, indirect, incidental,
(3) An explanation of the basis for your dispute. or consequential damages resulting from any defect in or use of
these services.

Service Providers
Brokerage account and margin credit services are provided by NFS, Money Market Fund Investments
an affiliate of FBS. Bonds may be traded through NFS (which may You could lose money by investing in a money market fund.
choose to act as principal or agent) or through external dealers. Although the fund seeks to preserve the value of your invest-
Services available through this account are the property of Fidelity ment at $1.00 per share, it cannot guarantee it will do so. An
or the third parties from which Fidelity has obtained rights. Market investment in the fund is not a bank account and is not insured or
data provided by national securities exchanges or associations guaranteed by the Federal Deposit Insurance Corporation or any
remain the property of those entities. other government agency. Fidelity Investments and its affiliates,
the fund’s sponsor, is not required to reimburse money market
funds for losses, and you should not expect that the sponsor
Routing of Orders will provide financial support to the fund at any time, including
during periods of market stress.
FBS routes most customer orders to its affiliated broker-dealer, NFS,
which in turn sends orders to various exchanges or market centers Fidelity’s government and U.S. Treasury money market funds will not
for execution. In deciding where to send an order, NFS looks at a impose a fee upon the sale of your shares.
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

16 FIDELITY ACCOUNT CUSTOMER AGREEMENT

Redemption Features/Callable Securities Wisconsin Marital Property Act
Lottery Married Wisconsin residents should be aware that no provision
of any marital property agreement, unilateral agreement, or court
Certain debt securities may have redemption features in addition decree under Wisconsin’s Marital Property Act will adversely affect
to those disclosed on the trade confirmation including, for exam- a creditor’s interest unless, prior to the time credit is granted, the
ple, special mandatory redemption features such as sinking funds creditor is furnished a copy of, or given complete information about,
provisions. It is the customer’s obligation to review all disclosure that agreement or decree.
documents 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 obli- Residing Outside the United States
gated to notify customers of such published calls. Information about If we determine that you reside outside the United States, you will
whether a municipal security is callable can be accessed via the be subject to certain limitations. While we generally make this
Municipal Securities Rulemaking Board’s Electronic Municipal Market determination by looking at the address information on our books
Access (“EMMA”) website (www.emma.msrb.org). and records (including the addresses maintained by the account
When street name or bearer securities held for you are subject to a owner and certain individuals with control over the account), we
partial call or partial redemption by the issuer, NFS may or may not reserve the right to consider other information when making this
receive an allocation of called/redeemed securities by the issuer, determination and/or subjecting you to these limitations.
transfer agent, and/or depository. If NFS is allocated a portion of the Generally speaking, regardless of where you reside, you will be sub-
called/redeemed securities, NFS utilizes an impartial lottery allo- ject to certain limitations. These include, but are not limited to, the
cation system, in accordance with applicable rules, that randomly following: (i) we will provide you with only ministerial or administrative
selects the securities within customer accounts that will be called/ services, which means that, among other things, our representatives
redeemed. NFS’ allocations are not made on a pro rata basis and it will not engage in discussions with you about such topics as asset
is possible for you to receive a full or partial allocation, or no alloca- allocation, income planning, or portfolio composition; and (ii) you will
tion. You have the right to withdraw uncalled fully paid securities at not be permitted to purchase additional shares of any U.S. mutual
any time prior to the cutoff date and time established by the issuer, fund (except pursuant to a dividend reinvestment program or in other
transfer agent, and/or depository with respect to the partial call, and limited circumstances), which among other things will affect the oper-
also to withdraw excess margin securities, provided your account is ation of your core account (please refer to the Core Account section
not subject to restriction under the Federal Reserve’s Regulation T or of this Agreement for further details).
such withdrawal will not cause an undermargined condition. If you
In addition to the foregoing, depending on where you reside, you
have bought or sold a security, and prior to the settlement of your
may be subject to additional restrictions (for example, margin lend-
trade, the issuer initiates a call of the security, NFS reserves the right
ing or options trading may not be permitted) up to and including
to cancel your trade. Customers are responsible for covering any out-
restrictions that will prevent you from making additional deposits or
standing short positions, as well as any other resulting costs in their
purchasing additional securities positions (i.e., you will be prohibited
account, that result from the lottery.
from doing anything in your account other than selling your existing
For more information and an example of the impartial lottery holdings and withdrawing the proceeds).
process, please go to: http://personal.fidelity.com/products/
Notwithstanding the above, special rules govern your relationship
fixedincome/FI_Common_Risk.shtml.
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
Residents of Louisiana reside outside the U.S., these limitations may be lifted.
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 Unclaimed Property
when directed by you to do so and only when you direct Fidelity to
Your account balance and certain uncashed checks issued from your
establish such account as tenants in common. In connection with
account may be transferred to a state unclaimed property admin-
your direction to establish this type of joint account, each account
istrator if no activity occurs in the account or the check remains
owner expressly and irrevocably renounces the right to concur in the
outstanding within the time period specified by the applicable
disposition or alienation of the account by the other account owner
state law.
for the entire time the account is open, or the longest term allowed
by applicable law.

FINRA BrokerCheck
Texas House Bill 1454 “Designated As part of the Financial Industry Regulatory Authority (FINRA)
Representative” BrokerCheck program, you have access to the FINRA BrokerCheck
hotline at 800-289-9999 and the FINRA website at finra.org. You can
For Texas residents (or those using a Texas address as a legal call or email your inquiries and request a brochure that includes infor-
address), under Texas House Bill 1454 Act No. 350, you, as an mation detailing the BrokerCheck program.
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 MSRB Investor Brochure
designated representative, you acknowledge that:
Fidelity Brokerage Services LLC is registered with the U.S. Securities
• Fidelity is required to mail written notice to the representative, in and Exchange Commission (SEC) and the Municipal Securities
addition to mailing the notice to the owner, upon presumption of Rulemaking Board (MSRB). An investor brochure may be obtained
abandonment of the account. at msrb.org that describes the protections that may be provided by
• The designated representative does not have any rights to the the MSRB and how to file a complaint with an appropriate regula-
mutual fund shares and may not access the shares. tory authority.
The process by which you select a designated representative is done
through a written form, which may be accessed online or requested
by phone.

FIDELITY ACCOUNT CUSTOMER AGREEMENT 17

 Important Information about Using Margin and Its Risks
When you buy securities in your account, You are not entitled to choose which Please note that any substitute payments
you may pay for them in full or you may securities are sold to meet a margin Fidelity makes are voluntary, and may be
borrow part of the purchase price from us, call. Because your accounts form Fidelity’s discontinued at any time.
using a margin account. In addition, hav- collateral for its loan to you, the choice of In addition to market volatility, factors
ing margin on your account allows you to what to sell is Fidelity’s. specific to your portfolio, such as
establish a short position. You are not entitled to a time exten- concentration, liquidity, and market-
When you borrow on margin, the securities sion on a margin call. While Fidelity ability of securities, may increase the
in your account become our collateral for may grant you an extension, it is not risk of a margin call. Use of features
the loan to you. A decline in the value of required to do so. Granting an extension such as checkwriting, debit cards,
these securities is therefore a decline in the on a margin call does not waive Fidelity’s and bill payment services may also
value of the collateral. We can respond in a right to decline to grant an extension in increase the risk of a margin call.
variety of ways, as described below. the future. In the absence of (i) an Intra-day and After-
Before you make use of margin in any Short selling is a margin account trans- hours Free Credit Balance, (ii) money in the
way, it’s essential to fully understand action and not only entails the same core account, (iii) shares of certain Fidelity
the risks involved. These risks include: risks as described above, but also money market funds held as positions
You can lose more money than you entails additional risks. Short selling outside the core account, or (iv) cash
allows you to integrate a number of dividends paid on marginable securities,
deposited in your margin account. If
different strategies into your investment any debits that are posted to your account
securities you bought on margin go down
approach so that you may potentially will drive up your margin balance.
in price, you may face a “margin call,”
profit from downward moves in a partic-
meaning you have to deposit more money Be sure to read the margin account
ular stock. However, if the price of the
or marginable securities. policies in “Borrowing on Margin” within
security that you have sold short goes
Fidelity can set stricter margin require- this customer Agreement. If you have any
up, you may incur a loss and that loss
ments than the industry minimum, and may be unlimited. In addition, you may questions or concerns about your margin
can increase these “house” require- be charged a short interest fee on the account or margin generally, please
ments in its sole discretion without securities that you have borrowed to contact Fidelity.
advance notice. An increase may take sell short and those fees may change, By applying for a margin account, you
effect immediately and may trigger sometimes significantly, without warn- acknowledge that you have independently
a maintenance margin call without ing. All short sale orders are subject to analyzed the risks of short selling as an
prior notice. the availability of the stock being sold, investment strategy, and understand that
If you cannot meet a margin call, which must be confirmed by Fidelity Fidelity does not recommend or solicit
Fidelity can force the sale of assets prior to the order being entered. Fidelity the purchase of short sale orders. To the
in your account(s). If the equity in your can use your account to buy securities to extent you will have or have had commu-
account falls below either industry mini- cover a short position without contacting nications with any Fidelity representatives
mums or Fidelity’s house requirements, you. If you don’t have sufficient assets, you about short selling, you agree that you
Fidelity can cover the deficiency by selling are responsible for the shortfall and are not relying on those communications
securities or other assets in any account collection costs. as recommendations or solicitations; that
of yours at Fidelity (including accounts Fidelity can loan out (to itself or others) you are not relying today and will not rely
at other Fidelity affiliates) without prior the securities that collateralize your in the future on Fidelity to monitor your
notice, and you will be charged the Rep- margin borrowing. If it does, you may investments in short sales nor advise you
Assisted commission rate on each trade. not be entitled to receive, with respect to concerning them; and that you have not
If these assets are insufficient, you will be securities that are lent, certain benefits and will not rely on Fidelity or any Fidelity
responsible for making up any shortfall, that normally accrue to a securities owner, representative for advice, information, or
and potentially for paying Fidelity’s costs such as the ability to exercise voting rights, recommendations regarding short selling
for collecting the shortfall as well. or to receive interest, dividends, or other strategies or their suitability for you.
Fidelity can sell assets in your account distributions. You may receive cash sub- Enabling Margin Debt Protection will
without contacting you. While Fidelity stitute payments from Fidelity in lieu of reduce, but not eliminate, your ability to
generally attempts to notify customers of the exact form of interest, dividends, or incur a margin debit. It will not prevent all
margin calls, it is not required to do so. other distributions paid on the securities. scenarios under which you could incur a
Even if you are notified, Fidelity can still Such substitute payments may not receive margin debit. The Margin Debt Protection
sell assets before the time indicated in the same tax treatment as actual interest, feature does not alter your obligation
the notice, if it believes such action is war- dividends, or other distributions, and you under the margin agreement to pay off any
ranted. You understand that if we contact may therefore incur additional tax liability margin debit incurred.
you in advance in certain instances, we for substitute payments. Fidelity may,
are not obligated to do so and such action in its sole discretion, allocate substitute
will not be deemed a waiver of our rights payments by lottery or in any other man-
under this Agreement. ner permitted by law, rule, or regulation.

18 FIDELITY ACCOUNT CUSTOMER AGREEMENT

Resolving Disputes — Arbitration

This Agreement contains a pre-dispute G. The rules of the arbitration forum whom the claim is made is a member.
arbitration clause. Under this clause, in which the claim is filed, and any If you do not notify us in writing of
which you agree to when you sign your amendments thereto, shall be incor- your designation within five (5) days
account application, you and Fidelity porated into this Agreement. after such failure or after you receive
agree as follows: All controversies that may arise from us a written demand for arbitra-
A. All parties to this Agreement are giving between you and us concerning any tion, then you authorize us to make
up the right to sue each other in court, subject matter, issue or circumstance such designation on your behalf. The
including the right to a trial by jury, whatsoever (including, but not lim- commencement of arbitration through
except as provided by the rules of ited to, controversies concerning any a particular self-regulatory organi-
the arbitration forum in which a claim account, order, distribution, rollover, zation or securities exchange is not
is filed. advice interaction, or transaction, integral to the underlying agreement
or the continuation, performance, to arbitrate. You understand that judg-
B. Arbitration awards are generally final ment upon any arbitration award may
and binding; a party’s ability to have a interpretation or breach of this or any
other agreement between you and us, be entered in any court of competent
court reverse or modify an arbitration jurisdiction.
award is very limited. whether entered into or arising before,
on or after the date this account is No person shall bring a putative or
C. The ability of the parties to obtain doc- opened) shall be determined by arbi- certified class action to arbitration, nor
uments, witness statements, and other tration through the Financial Industry seek to enforce any predispute arbitra-
discovery is generally more limited in Regulatory Authority (FINRA) or any tion agreement against any person who
arbitration than in court proceedings. United States securities self-regulatory has initiated in court a putative class
D. The arbitrators do not have to explain organization or United States secu- action; or who is a member of a puta-
the reason(s) for their award unless, in rities exchange of which the person, tive class action who has not opted out
an eligible case, a joint request for an entity or entities against whom the of the class with respect to any claims
explained decision has been submitted claim is made is a member, as you encompassed by the putative class
by all parties to the panel at least may designate. If you commence action until: (i) the class certification is
20 days prior to the first scheduled arbitration through a United States denied; or (ii) the class is decertified; or
hearing date. self-regulatory organization or United (iii) the customer is excluded from the
E. The panel of arbitrators may include a States securities exchange and the class by the court. Such forbearance to
minority of arbitrators who were or are rules of that organization or exchange enforce an agreement to arbitrate shall
affiliated with the securities industry. fail to be applied for any reason, then not constitute a waiver of any rights
you shall commence arbitration with under this Agreement except to the
F. The rules of some arbitration forums any other United States securities extent stated herein.
may impose time limits for bringing self-regulatory organization or United
a claim in arbitration. In some cases, States securities exchange of which
a claim that is ineligible for arbitration the person, entity or entities against
may be brought in court.

FIDELITY ACCOUNT CUSTOMER AGREEMENT 19

 900 Salem Street, Smithfield, RI 02917
Fidelity Brokerage Services LLC and National Financial Services LLC, Members NYSE, SIPC
© 2024 FMR LLC. All rights reserved.
459480.44.0 FA-CUSTOM-0424
1.828130.146
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, amend or supersede 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. Please go to Fidelity.com/information for further information.
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 our best interest obligations and fiduciary status when we make
recommendations for retirement accounts. This document also describes the conflicts of interest that arise in FBS’s 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 brokerage accounts generally allow you to
invest in mutual funds, exchange-traded funds, stocks, bonds, options, college savings plans, insurance and annuity products, and
more. FBS also offers brokerage accounts and services for Workplace Savings Plans, which are discussed in “Retirement and Other
Tax-Advantaged Accounts” below. 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.

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 FBS is not an investment advisor and is not required to update
any previously provided recommendations, and 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. Furthermore, for any FBS customer that is a
corporation, limited liability company, partnership or other business-related entity, the entity and the authorized person(s) acting
for it are solely responsible for directing all of the entity’s account activity, including selecting and monitoring its investments, and
must do so independent of, and without reliance on, any advice, recommendation or guidance provided by FBS.

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
as an individual investor 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; and
• Treat you in a manner consistent with principles of fair dealing and high standards of honesty and integrity.

There is no minimum required 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”), Fidelity Institutional Wealth Adviser LLC
(“FIWA”) 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.

1
How We Recommend Investments
FBS Representatives use various tools and methodologies to help you choose your investments, investment strategies, and accounts.
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 (“Investment Profile”). 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. Although cost is a factor that 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 the same, similar, or different risk and return characteristics. In addition, we do
not consider every investment, product, or service offered by FBS when making a recommendation; certain investments and products are
only available for self-selection (i.e., without an FBS recommendation). We are not obligated to provide a recommendation to you.
Retirement and Other Tax-Advantaged Accounts
We offer a variety of retirement and other tax-advantaged accounts (including IRAs, workplace savings plan accounts, Health Savings
Accounts (“HSAs”), and other similar accounts, collectively “Retirement Accounts”). We have a best interest obligation when we provide a
recommendation as part of our brokerage services to your Retirement Account.
When we provide investment advice to you regarding your Retirement Account within the meaning of Title I of the Employee Retirement
Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, we are a fiduciary within the meaning of these laws
governing retirement accounts. The way we make money creates some conflicts with your interests, so when we provide such investment
advice, we operate under special rules that require us to act in your best interest and not put our interest ahead of yours.
Under these special rules, we must:
• Meet a professional standard of care when making investment recommendations (give prudent advice);
• Never put our financial interests ahead of yours when making recommendations (give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest.
The above fiduciary acknowledgement applies solely with respect to the following types of recommendations (each a “Covered
Recommendation”):
Transfer and Account Recommendations. From time to time, we may recommend that you transfer or roll over assets from a
• 
Workplace Savings Plan to a brokerage or an advisory IRA (or another Workplace Savings Plan). We may also recommend that you
transfer assets in your Workplace Savings Plan to an advisory program or transfer IRA assets to an advisory program.
Investment Recommendations. If you have a Retirement Account with us, we may, from time to time, recommend that you buy,
• 
sell, or hold securities or other investment property for your Account. We may also recommend that you hire third parties to
provide you with investment advice for your IRA.
It is important to understand that we will not be a fiduciary in connection with all of our interactions with you regarding your Retirement
Account. Specifically, we provide non-fiduciary assistance and education regarding Retirement Accounts and this information is not
intended to be individualized to your particular circumstances and should not be considered as a primary basis for your investment
decisions. This type of assistance includes:
• Execution of self-directed, or unsolicited, transactions or trades;
• General descriptions, information and education about our products and services or with respect to plan distribution or rollover
decisions;
• Communications that are not an individualized/personalized suggestion for you to take a particular course of action with respect to
your retirement assets;
• Assistance for workplace savings plan accounts that are not subject to Title I of ERISA (e.g., certain plans maintained by
governmental or tax-exempt employers and non-qualified deferred compensation plans);
• Recommendations with respect to accounts other than Retirement Accounts that you maintain with us; or
• Any communications that are not fiduciary investment advice (as defined by ERISA or the IRC).
Rollovers from an Employer-Sponsored Retirement Plan
You can open or contribute to 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, we can provide you with information and/or recommendations regarding your plan
distribution options. Certain FBS Representatives can 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.

2
Our plan distribution assistance process can include providing you with information to help you understand the factors to consider and
the trade-offs with each distribution option so you can make an informed decision. Our Representatives can answer questions you might
have about any of these factors.
If you are a participant in an employer-sponsored retirement plan or maintain an IRA that is not record kept 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 IRA or transfer all or part of such plan or IRA to an FBS IRA. We do
not make recommendations with respect to whether you should roll over from an employer-sponsored retirement plan or IRA that is not
record kept by an affiliate of FBS.
Conflicts of Interest
Conflicts of interest arise because 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. FBS may also receive compensation from third parties in connection with the securities you purchase. As a result, when
working with you, FBS has a financial incentive to recommend the accounts, products, and services that result in greater compensation
to FBS. 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 when we recommend products
and services to you, what we recommend is in your best interest. FBS Representative compensation is designed to ensure that our
Representatives are appropriately motivated and compensated to provide you with the best possible service, including providing
recommendations that are in your best interest, based on your stated needs. This section generally describes how we compensate
FBS Representatives. Compensation to FBS and its Representatives for the products and services we offer is described in the
“Investment Products and Services” section below.
• Fidelity Representatives receive a portion of their total compensation as base pay—a predetermined and fixed annual salary. Base
pay varies between Fidelity Representatives based on experience and position. In addition to base pay, FBS Representatives are
also eligible to receive variable compensation or an annual bonus, and certain Representatives are also eligible to receive longer-
term compensation. Whether and how much each FBS Representative receives in each component of compensation is generally
determined by the Representatives role, responsibilities, and performance measures and is also impacted by the type of product or
service you select. These compensation differentials recognize the relative time required to engage with a customer and that more
time is required to become proficient or receive additional licensing (for example, insurance and annuity products or investment
advisory services) as compared to, for example, a money market fund. Products and services that require more time to engage with
a client and/or that are more complex generally provide greater compensation to our Representatives, FBS, and/or our affiliates.
Although we believe that it is fair to base the compensation received by our Representatives on the time and complexity involved
with the sale of products, this compensation structure creates a financial incentive for Representatives to recommend and that a
client maintain investments in these products and services over others. Depending on the specific situation, the compensation
received by Fidelity Representatives in connection with you maintaining an FBS Account could be less than the compensation
received by Fidelity Representatives in connection with you choosing to participate in a Fidelity advisory program. 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 Important Information Regarding Representatives’
Compensation at Fidelity.com/information.
Investment Products and Services Offered by FBS
General Investment Risks
All investments involve risk of financial loss. 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.

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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 any 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 and/or markups associated with the investment products and services described
below are available at Fidelity.com/information.
If you work with an intermediary, your intermediary determines with FBS the fees, charges, commissions and/or markups you pay to FBS
and its affiliates for their services. Contact your intermediary for more 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 will be determined by your plan sponsor and generally do not include all of the securities discussed in this document.
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 “markup” for purchases or “markdown” 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. FBS or an
affiliate could have an ownership interest in certain of the banks participating in the new issue offering of CDs and any such interest will be
disclosed to you. For secondary market transactions, FBS and/or its affiliate, NFS, receive compensation by marking up or marking down
the price of the security.
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 Products (ETPs)
ETPs include a range of security types, including exchange-traded funds (ETFs) and other securities, which are not considered a form of
mutual fund. FBS offers ETFs sponsored by an FBS affiliate and ETPs and ETFs sponsored by third parties.
Generally, FBS does not charge a commission or other transaction fee for ETPs 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 ETP, 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

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beta ETFs under which we are entitled to receive payments. Certain ETF sponsors also pay FBS and NFS an asset-based fee in support of
their ETFs on Fidelity’s platform, including related shareholder support services, the provision of calculation and analytical tools, as well as
general investment research and educational materials regarding ETFs.
For the specific risks associated with an ETP, please see its prospectus or summary prospectus and read it carefully.
Certain FBS Representatives are compensated in connection with the purchase of ETPs in your FBS Account, regardless of whether the
Representative recommended the transaction to you. Representatives receive no additional compensation for purchases 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.
Insurance companies charge fees that are either explicitly disclosed or incorporated into the product’s benefits or credits. The fees for
these products vary depending on the type of insurance product purchased, any available options selected, and surrender charges
incurred, if any. Any explicit fees are disclosed in the applicable 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 annuity products are subject to various risks, including the claims-paying ability of the issuing insurance company, which
are detailed in the applicable 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 less complex
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 mutual funds that do not have a transaction fee or third-party mutual funds that do not have a transaction fee
or that FBS makes available on a load-waived basis (collectively “no transaction fee” or “NTF” funds). In addition, FBS offers third-party
mutual funds available with a sales load and/or a transaction fee (“transaction fee” or “TF” funds). FBS and its Representatives will only
recommend NTF funds, and do not make recommendations regarding TF funds or consider them when making recommendations to you.
As discussed below, FBS and its affiliates receive greater compensation for holdings in NTF funds than TF funds.
FBS does not charge a fee for the purchase or sale of NTF funds. FBS will impose a short-term trading fee for sales of all nonproprietary,
NTF funds made within 60 days of purchase. For TF 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.
FBS and its affiliates earn the following compensation from mutual fund transactions:
• FBS affiliates earn compensation from the ongoing management fees for proprietary funds, as identified in the funds’ prospectuses.
• FBS or its affiliates receive a portion of the sales load paid to a third-party fund company in connection with your purchase of a load
fund.
• FBS and its affiliates receive compensation from certain third-party fund companies or their affiliates for (i) access to, purchase or
redemption of, and maintenance of their mutual funds and other investment products on Fidelity’s platform, and (ii) other related
shareholder servicing provided by FBS or its affiliates to the funds’ shareholders. This compensation may take the form of 12b-1
fees described in the prospectus and/or additional compensation such as shareholder servicing fees, revenue sharing fees, training
and education fees, or other fees paid by the fund, its investment adviser, or an affiliate. This compensation can also take the
form 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 access, 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 more information about the specific investment objectives, risks, charges, fees and other expenses, including those that apply to a
continued investment in a mutual fund, please read the mutual fund’s prospectus carefully. You should also understand that sometimes a
third-party fund company makes both a no-transaction-fee share class and a transaction fee share class of a fund available for purchase.
In this situation, the expense ratio associated with the TF fund could be lower than the NTF fund. You can find more information about
mutual fund fees and costs by visiting Fidelity.com/information.
Certain FBS Representatives are compensated in connection with the purchase of mutual funds in your FBS Account, regardless of
whether the Representative recommended the transaction to you or if you purchase an NTF or TF fund. 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.

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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 ETPs. 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 your purchase of proprietary alternative investments, regardless of whether
the Representative recommended the transaction to you. Representative compensation, where received, 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 introduce and assist you with your purchase of proprietary 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 makes available 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 and its Representatives do not make recommendations regarding stocks or options.
FBS does not charge you a commission for online U.S. stock transactions but will charge you a commission when a stock purchase
order is placed over the phone or through a Representative. An activity assessment fee is charged when a stock is sold, either online
or through the phone or a Representative. 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. The per-contract fee and/or commission charged for options strategies involving
multiple purchases and sales of options, such as spreads, straddles, and collars, is higher than the fee and/or commission charged for a
single options trade. In addition, all options trades incur certain regulatory fees that are included in the Activity Assessment Fee on the
transaction confirmation. FBS and/or NFS receives remuneration, compensation, or other consideration for directing customer stock and
option 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 the “Order Routing and Principal Trading by FBS Affiliates” section of this document and to our Fidelity
Account Customer Agreement, which you can find at Fidelity.com/information.
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. Your account must be approved for
options trading. Before trading options, please read Characteristics and Risks of Standardized Options, which can be found by visiting
Fidelity.com/information.
For information regarding trading and order routing practices, including compensation, see the “Order Routing and Principal Trading by
FBS Affiliates” section below.
Certain FBS Representatives are compensated in connection with the aggregate value of stock held in your account but are not
compensated when you purchase stock or make an options transaction.
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. FBS or its affiliates share the
revenue attributable to these credit cards with the issuer, and FBS or its affiliates receive additional revenue from the credit card network.
Debit Cards
FBS has entered into an arrangement with third-party service providers that provide FBS customers with a debit card to access the
uninvested cash in their FBS Accounts. The service provider charges FBS fees in exchange for its services. However, those fees are offset
by revenue generated in connection with customers’ use of these cards, and FBS or its affiliates receive additional revenue from the debit
card network. FBS or an affiliate could have an ownership interest in certain of the third-party service providers offering debit cards; any
such interest will be disclosed to you.
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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 at 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 should 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 and
program manager fees and underlying fund fees from the ABLE Plans as compensation for services provided to the Plans. 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 529 or
ABLE product you choose to purchase, but this compensation is higher than the compensation received in connection with certain other
types of investments offered by FBS, such as money market funds, equities, and 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 custodial accounts, and our Representatives are compensated in
connection with your purchase of such securities.
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 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 Account (HSA)
An HSA is a tax-advantaged account that can be used by individuals enrolled in an HSA-eligible health plan to make contributions and take
current or future distributions for qualified medical expenses. The Fidelity HSA® is a brokerage account that can be opened directly with
FBS or through an Intermediary. For an HSA, FBS and its Representatives will only recommend 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 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. Your account must be approved for trading on margin. We can
set stricter margin requirements than the industry required minimum and can institute immediate increases to our margin requirements
which can trigger a margin call.

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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. Please refer to the Client Agreement, which can be found at Fidelity.com/information, for more information
concerning margin.
Sweep Options
Your FBS Account includes a “core position” that holds assets awaiting further investment or withdrawal. Depending on the type of
account, and how it is opened, the available sweep options made available and presented to you include one or more of the following:
Fidelity money market mutual funds, an FDIC-insured bank sweep, or a free credit balance. For more information, please refer to the
Customer Agreement at Fidelity.com/information. If you work with an Intermediary, only certain core options are available. Contact your
Intermediary for more information. If you use a free credit balance, FBS’s affiliates earn interest by investing your cash overnight and can
earn additional compensation through the use of unsettled funds that can generate earnings, or “float.” These funds can also be used for
other business purposes including funding margin loans. If you use a Fidelity money market fund, FBS’s 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’s affiliates
receive a fee from the bank receiving deposits through the bank sweep program. FBS or an affiliate could have an ownership interest in
certain of the banks participating in the program and any such interest will be disclosed to you. For more information, please refer to the
FDIC-Insured Deposit Sweep Program Disclosures document at Fidelity.com/information.
Third-Party Lending Solutions
Securities-backed lines of credit are available, which allow you to borrow funds from banks using the securities in your FBS Account as
collateral. FBS or an affiliate could have an ownership interest in certain of the banks offering these lines of credit and any such interest will
be disclosed to you. FBS Representatives are compensated when you draw down a loan on your securities-backed line of credit.
Additionally, FBS Representatives may refer you to banks in which it or an affiliate have an ownership interest and any such interest will be
disclosed to you. FBS Representatives do not receive compensation for such referrals.
Accounts Offered by Affiliates of FBS Charitable Giving
Fidelity Investments Charitable Gift Fund (“Fidelity Charitable”) is an independent public charity that 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. Please refer to the “Guide to Brokerage and Investment Advisory Services at
Fidelity Investments” (available at Fidelity.com/information) for more information regarding our roles and responsibilities when providing
brokerage and advisory services.
Investment advisory accounts 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 vary based on the scope of services provided and the value of the assets for which the services are 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 discretionary 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 providing services to your self-directed brokerage accounts or providing a recommendation for an FPWA
investment advisory service. Once a client enrolls in an FPWA investment advisory service, the Fidelity Representative will be providing
FPWA services and will be acting as an investment advisory representative for FPWA when providing 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 your enrollment and continued maintenance of
an investment in 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. Please review the Program Fundamentals Brochure for the FPWA service being offered to you, which is available at
Fidelity.com/information, for more information about Fidelity’s compensation and conflicts of interest.

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Additionally, FBS’s affiliate FIWA offers advisory services to Intermediaries and to retail investors who work with Intermediaries and can be
referred by FBS. Generally, you must have a relationship with an Intermediary to receive the advisory services from FIWA. Please refer to
FIWA’s Form CRS for more information at Fidelity.com/information.
Workplace Services
FBS and its affiliates can provide a range of services to your Workplace Savings Plan. These services include investment advisory, 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 such recommendations provided to you
will be limited to those investment options selected in your Plan’s investment lineup (including investment advisory services offered by FBS’s
affiliate, FPWA), and will not consider investment options that may be available only through the Plan’s self-directed brokerage window.
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 and Other Programs
We have entered into certain arrangements to make the services of various third-party vendors available to our customers and
Intermediaries. These services are generally, but not exclusively, accessed via hyperlinks on our website and mobile apps, as well as
application programming interfaces and data transmissions. These connections allow customers and Intermediaries to connect directly
with a vendor to obtain that vendor’s services. In other cases, we refer and/or introduce Intermediaries to third-party vendors who might
be of interest to them. 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 applicable 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 to assist 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 the 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 backoffice, 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

9
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. Further, FBS administers certain business to business introductory and referral programs to benefit the Intermediaries. As
part of these programs, when new business relationships result, from time to time FBS collects program and referral fees.
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 (a “principal trade”), or sends the order to various
exchanges or market centers for execution. NFS can also direct customer orders to exchanges or market centers in which it or one of its affiliates
has a financial interest. Any order executed for your FBS Account is subject to a “best execution” obligation. If NFS executes the order from
its own account through a principal trade, it can earn compensation on the transaction. This creates an incentive for NFS to execute principal
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. Please refer to the “Stocks and Options” section of
this document for a description of the remuneration, compensation, or other consideration received by FBS and/or NFS for directing customer
orders to certain market centers. 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’s 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.

10
RETIREMENT ACCOUNT SUPPLEMENT TO FIDELITY BROKERAGE SERVICES LLC
PRODUCTS, SERVICES, AND CONFLICTS OF INTEREST DOCUMENT

How Fidelity Brokerage Services LLC (“FBS”) Can Help You with Your Retirement Accounts
This important disclosure information about Fidelity Brokerage Services LLC (“FBS”) supplements the FBS Products, Services, and Conflicts of
Interest document and is provided to comply with applicable federal law. In addition to reviewing and educating you on available options for
your workplace savings plan assets after you leave your employer or are eligible for a distribution, this supplement further describes FBS’s best
interest obligations when providing investment advice, where applicable, including when making a recommendation regarding options for
your workplace savings plan assets after you leave your employer.
FBS can help you in this area in a variety of ways:
• We can help you invest assets held in a Fidelity Individual Retirement Account (“Fidelity IRA”).
• We can also help you with your choices for assets held in a workplace savings plan, such as a 401(k) or 403(b) plan, if you are
leaving or have already left an employer. (Workplace savings plans are referred to in this supplement as “plans”; accounts in plans
are referred to in this supplement as “Workplace Savings Plan Accounts.”)
• If your Workplace Savings Plan Account(s) are held at Fidelity, we can assist you:
o with your Workplace Savings Plan Account(s) only, or
o with all your retirement and other planning needs, including your Workplace Savings Plan Account(s).
• If your Workplace Savings Plan Account(s) are held at a third party, we can provide certain other services.
Important Information about Your Choices after Leaving Your Employer
You generally have four options for your Workplace Savings Plan Account assets after you leave your employer:
• Stay in your Workplace Savings Plan Account
• Roll over to an IRA
• Roll over to another Workplace Savings Plan Account, if available
• Take a cash-out distribution*
*Note that a cash-out distribution from a Workplace Savings Plan Account may be subject to 20% mandatory federal tax withholding.
Additionally, if the distribution is taken before age 59½, an additional 10% early withdrawal tax penalty may apply. Also, following a cash-out
distribution, your money won’t have the potential to continue to grow tax deferred unless rolled over to an IRA or another employer plan.
Some plans may allow you to combine these options (for example, rolling over some money and keeping some in your Workplace Savings
Plan Account) or offer additional options, such as periodic installment payments. It is important that you understand the specific options
available for your Workplace Savings Plan Account assets.
Factors to Consider
You should consider the following factors, including applicable fees and costs, when deciding whether to stay in your existing Workplace
Savings Plan Account or roll over to an IRA (or to another Workplace Savings Plan Account, if available):
A Workplace Savings Plan Account may provide features not available outside the plan. While you can’t contribute to the
• 
Workplace Savings Plan Account of a prior employer, remaining in the plan (if permitted) lets you keep access to the plan’s
investments and continue tax-deferred growth potential. If the following factors are important to you, you may want to consider
keeping your assets in a Workplace Savings Plan Account (or rolling over to another Workplace Savings Plan Account, if available).
If you retire early and need access to your plan assets before age 59½: You can avoid paying the 10% early withdrawal tax
o 
penalty on Workplace Savings Plan Account distributions if you leave your job during or after the calendar year you turn 55. (For
a public safety employee, these retirement plan withdrawals can begin without penalty as early as age 50.) This exception to the
early withdrawal tax penalty is not available for distributions before age 59½ from an IRA.
o I f you are concerned about asset protection from creditors: Generally speaking, Workplace Savings Plan Accounts have
unlimited protection from creditors under federal law, while IRA assets are protected only in bankruptcy proceedings. State laws
vary in the protection of IRA assets in lawsuits. If creditor protection is important to you, this factor favors remaining in (or rolling
over to) a Workplace Savings Plan Account.
If you would like to defer Required Minimum Distributions: Once an individual reaches age 73, the rules for both Workplace
o 
Savings Plan Accounts and IRAs generally require the periodic withdrawal of certain minimum amounts known as required minimum
distributions or RMDs. If you intend to work past the age of 73, however, keeping assets in a Workplace Savings Plan Account
may allow you to defer RMDs until you retire. (Note: If you own 5% or more of the employer, RMD deferral is not available.) Roth
accounts will also be exempt from RMD starting in 2024. You should consult with a tax advisor for any tax implications.
o If your plan offers unique investment options: If you want continued access to such options, consider keeping your assets in
the Workplace Savings Plan Account. Examples of unique investment options your plan might provide include:

11
 • Institutional (lower cost) funds/share classes or stable value funds not available outside your plan.
Low-cost managed account options or a self-directed brokerage account with an array of investment options. (Compare
• 
whether a self-directed brokerage account would charge the same fees and commissions as charged in an IRA.)
• Institutional or group annuities issued by insurance companies not available outside your Workplace Savings Plan Account.
Note that annuities are insurance products, and any income guarantees depend on the annuity provider’s financial strength
and ability to pay.
o If you have appreciated employer stock in your Workplace Savings Plan Account, there are special issues that you should
consider. On the one hand, excessive concentrations in a particular investment, including employer stock, may be risky. On the
other hand, transferring or rolling over employer stock to an IRA as opposed to making an in-kind transfer to a non-retirement
account, can result in unfavorable tax consequences. Consult your tax advisor for details.
Special benefits: If continued participation in your plan provides you with special benefits such as supplemental healthcare
o 
or housing allowances, that factor would align with retaining assets in your current Workplace Savings Plan Account.
Plan loans: If you are paying back a plan loan or need future loans, check your plan’s loan rules before deciding what to do with
o 
your Workplace Savings Plan Account. Loans are not available from, and cannot be rolled over to, IRAs.
An IRA may provide features and investment options not available for a Workplace Savings Plan Account. IRAs from different
• 
providers may have different services and investment options. If the investment options and services available for your Workplace
Savings Plan Account do not offer what you need, you may want to consider the options and services available in an IRA, which
may include:
Broader investment options: An IRA may provide a broader range of investment options than may be available for your
o 
Workplace Savings Plan Account. For example, an IRA may offer the ability to invest in individual stocks and bonds or a range of
managed account offerings.
o Consolidation: You may be able to consolidate several Workplace Savings Plan Accounts into an IRA.
Services: If you invest through an IRA, you may have access to a range of services and support not available for your Workplace
o 
Savings Plan Accounts, including access to various forms of assistance in planning for your retirement and other financial goals.
Special rules for early withdrawals from an IRA: If you are under age 59½ and you want to take distributions to cover a first-
o 
time home purchase, educational expenses, or health insurance when you are unemployed, you can take certain withdrawals
(for a home purchase up to $10,000 for individuals/$20,000 for married couples) from your IRA and avoid the early withdrawal
penalty. You may also want to consult your tax advisor about your situation, as taxes still apply.
Rolling over to another Workplace Savings Plan Account, if available, also lets you consolidate your existing and new Workplace
• 
Savings Plan Accounts into one plan while continuing tax-deferred growth potential. Investment options vary by plan. Check the
rules applicable to your current employer’s plan to see if you can roll over from another Workplace Savings Plan Account into
that plan.
As you decide among your options, consider the fees and costs for each option. There are generally three types of fees that you
should consider:
Investment expenses: A range of expenses are associated with investment options that you select. These can be the largest
• 
component of overall costs associated with your account.
Advisory fees: If you have selected a managed account or investment advisory service, investment advisory fees are generally
• 
charged in addition to underlying investment expenses.
Plan or account fees: There may be a periodic administrative or recordkeeping fee associated with your Workplace Savings Plan
• 
Account. In some cases, employers pay for some or all of these expenses. If considering an IRA, there may be a periodic custodial
or trustee fee. Fidelity does not currently charge an IRA custodial fee.
Distribution Decision Support for Participants with a Workplace Savings Plan Account Held at Fidelity
When helping you consider your distribution options from a Workplace Savings Plan Account held at Fidelity, our approach is to first assist
you in identifying and assessing your needs and preferences. Initially, we ask whether you want to discuss only your distribution options
for your Workplace Savings Plan Account or, in the alternative, whether you want to discuss your broader planning and investment needs,
including needs related to your Workplace Savings Plan Account. Each approach is discussed below and applies only if your Workplace
Savings Plan Account is held at Fidelity.
In either case, we will then help you understand your Workplace Savings Plan Account distribution options by reviewing the factors
described in the two sections immediately above. Most participants can decide which distribution option is best for them based on their
unique financial situation after reviewing this information and considering the factors that are important to them. If, however, you are
not able to select a distribution option, we can make a recommendation based on the information you provide to us. Note that we only
consider Fidelity Workplace Savings Plan Accounts and Fidelity IRAs when providing investment advice.
If you request information regarding distribution options for your Workplace Savings Plan Account only:
• We can make a recommendation in your best interest to stay in your current Workplace Savings Plan Account, roll over to another
Workplace Savings Plan Account at Fidelity (if you have one), or roll over to a Fidelity IRA. If you identified that one or more of
the following “Stay in Plan Factors” apply, we will recommend that you stay in your current Workplace Savings Plan Account or
roll over to another Workplace Savings Plan Account, rather than rolling over to an IRA: (1) you terminated employment at or after

12
 age 55 (age 50 for eligible employees) and anticipate needing funds from your Workplace Savings Plan Account before age 59½;
(2) creditor protection is important to you; and/or (3) you participate in or are eligible to participate in a plan associated with a
tax-exempt organization eligible for special benefits. Otherwise, when considering a rollover, we will base our recommendation on
a cost comparison of the following options: (1) staying in your current Workplace Savings Plan Account and investing in the least
expensive age-appropriate target date mutual fund available in that plan; (2) if available, rolling over your assets to a new Workplace
Savings Plan Account at Fidelity and investing in the least expensive age-appropriate target date mutual fund available in that
plan; and (3) rolling over your assets to a Fidelity IRA and investing in Fidelity Go®, which is a Fidelity investment advisory service
available in the Fidelity IRA. We will recommend the least expensive of these options. When we make a recommendation, our cost
comparison considers workplace plan assets, whether your plan offers revenue credits and certain estimated credit assumptions
when comparing the cost of those assets between the (1) lowest cost age-appropriate target date fund available in your current
or new workplace plan recordkept at Fidelity, and (2) Fidelity Go®. Please note that, when making this recommendation, we will
not evaluate any other investment options available for your current Workplace Savings Plan Account (or for any other Workplace
Savings Plan Account that may be available to you), nor will we consider any other investment options available through a Fidelity
IRA (or other IRA). There may be other investment options that cost more or less than the investments that we will consider. When
we make a recommendation, our cost comparison also considers if your workplace plan offers revenue credits and makes certain
estimated credit assumptions.
If you request information regarding your broader planning and investment needs, including your Workplace Savings Plan
Account(s):
• We will work with you to develop a plan for your future retirement or other needs; recommend investments that are in your best
interest; and, in certain circumstances described below, we can make a recommendation in your best interest to stay in your
Workplace Savings Plan Account, roll over to another Workplace Savings Plan Account at Fidelity (if available), or roll over to the
Fidelity IRA.
• When we provide you with investment advice in connection with discussions regarding your broader planning and investment
needs, we may make a recommendation that you roll over your Workplace Savings Plan Account to a Fidelity IRA when (1) none
of the Stay in Plan Factors listed above apply, and (2) we recommend certain investment advisory services available in a Fidelity
IRA that are not available to you through your Fidelity Workplace Savings Plan Account. In such circumstances, additional
information about the basis for our investment and rollover recommendations will be provided in the enrollment materials for
the recommended investment advisory service. In all other circumstances, if our discussion regarding your broader planning and
investment needs results in a recommendation about how to invest your assets outside of a Workplace Savings Plan Account,
we will provide you with information regarding the investment or service recommended, including information about fees and
expenses, as well as information about the Factors to Consider described above so that you can make your own decision about
whether to roll over the assets in your Workplace Savings Plan Account to a Fidelity IRA.
Distribution Decision Support for Participants with a Workplace Savings Plan Account(s) Not Held at Fidelity
We will not make a recommendation about whether to roll over from your non-Fidelity Workplace Savings Plan Account. We can
discuss investment options available through a Fidelity IRA, and, as appropriate, we can recommend investments or advisory services
if you choose to open a Fidelity IRA. So that you can make your own decision about whether to roll over the assets in your non-Fidelity
Workplace Savings Plan Account to a Fidelity IRA, we can provide you with information regarding any investment or advisory service
recommended for a Fidelity IRA, including information about fees and expenses, as well as information about the Factors to Consider
described above.
Best Interest Rationale for Certain Investment Recommendations
A variety of products and services are available through a Fidelity IRA, including mutual funds, exchange-traded funds, investment advisory
services, individual bonds, and annuities. Certain Workplace Savings Plans may make available managed account services. Information
regarding these products and services is provided in the Fidelity Brokerage Services LLC Products, Services, and Conflicts of Interest
document. When we recommend certain fee-based investment advisory services, federal rules require that we provide you with the
reasons that the recommendation is in your best interest. Our recommendation process begins with understanding whether you want
to manage your own investments, or whether you want Fidelity to manage your assets. If you want Fidelity to manage your assets, we will
ask you a series of questions designed to identify whether you have unique needs that require more investment personalization than is
available through investment in a target-date mutual fund. If so, then based on your need for investment personalization, as well as your
identified investment strategy and need for financial planning and support of a Fidelity Representative, we will recommend one of the
following advisory services offered by our affiliate, Fidelity Personal and Workplace Advisors LLC, as described below. All recommendations
are subject to investment eligibility, which can include meeting certain investment minimums.
• 
Fidelity Wealth Services—Wealth Management (“FWS”). FWS is recommended where you would benefit from a diversified portfolio
of mutual funds and ETFs that is actively managed through different market conditions; access to a dedicated Fidelity Personal
Investing associate for financial planning and other services; and/or help with broader financial planning across your goals, which
can include access to more complex planning topics. See the FWS Program Fundamentals for details regarding the services
provided and costs of FWS advisory offerings.
• 
FWS—Advisory Services Team (“FAST”). FAST is recommended where you would benefit from a diversified portfolio of mutual funds
and ETFs that is actively managed through different market conditions; access to a team of Fidelity Personal Investing associates for
financial planning and other services; and/or help with essential financial planning topics including investing, retirement income,
buying a home, or reducing debt. See the FWS Program Fundamentals for details regarding the services provided and costs of FWS
advisory offerings, including FAST.

13
 • 
Fidelity Strategic Disciplines (“FSD”). FSD is recommended where you would benefit from a portfolio of individual stocks or bonds
managed for you, and access to a dedicated Fidelity Personal Investing associate for investment planning and other services. See
the FSD Program Fundamentals for details regarding the services provided and costs of the FSD advisory offering.
• 
Fidelity Go (“FGO”). FGO is recommended where you would benefit from a diversified portfolio of mutual funds designed to replicate
the performance of relevant market indexes. For clients with at least $25,000 to invest, FGO may also be appropriate if you desire
to couple such a mutual fund portfolio with access to a team of Fidelity Personal Investing associates that can discuss with you
foundational financial planning topics, such as budgeting, investing, retirement planning, or reducing debt, or help with other services.
See the FGO Program Fundamentals for details regarding the services provided and costs of the FGO advisory offering.
• 
Fidelity Managed FidFolios (“FMF”). FMF is recommended where you would benefit from a portfolio of individual stocks managed
for you but do not need access to Fidelity Representatives or help with financial planning. See the FMF Program Fundamentals for
details regarding the services provided and costs of the FMF advisory offering.
• 
Fidelity Personalized Planning & Advice at Work (“FPPA”) is recommended where you would benefit from a diversified portfolio
of investment options from your Workplace Savings Plan investment option lineup actively managed through different market
conditions for your retirement investment strategy. In addition, you prefer to have your investments managed so that the level of risk
adjusts over time. See the Fidelity® Personalized Planning & Advice at Work Terms and Conditions for details regarding the services
provided and costs of the FPPA advisory offering.

Scan for more information.

Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE, SIPC, 245 Summer Street, Boston, MA 02210
The Fidelity Investments and pyramid design logo is a registered service mark of FMR LLC.
© 2024 FMR LLC. All rights reserved.
919926.9.0  1.9898974.107

14
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 providing brokerage services directly 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 that are 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 along with the cost associated with our recommendation;
• Ensure that your trades are executed with diligence and competence and seek to provide best execution in light
of prevailing market conditions; and
• Treat you in a manner consistent with 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. All transaction charges will be identified to you in the confirmation of a
transaction and/or in the account statement we send to you on a periodic basis. Other costs and charges will also
apply to your account, and these costs and charges are outlined in your Fidelity Account Customer Agreement
and, in detail, in the Brokerage Commission and Fee Schedule provided therewith.
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 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, including monitoring, 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 these 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, and vary based on the scope of the investment advisory services provided and the value of the assets
for which the services are provided. 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 the investment, advice,
and monitoring services provided, as well as the costs of brokerage execution and custody. There may be other
trading costs not included in this fee; these are detailed in your Client Agreement, Program Fundamentals, and/or
other notification. The investment management 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.
How Fidelity representatives are compensated
As compensation for the services they provide, our representatives receive a portion of their total compensation
as base pay, a predetermined and fixed annual salary based on experience and position. In addition to base pay,
our representatives are eligible to receive variable compensation or an annual bonus, and certain representatives
are also eligible to receive longer-term compensation. Whether and how much each representative receives
in each component of compensation is generally determined by the representative’s role, responsibilities, and
performance measures and is also impacted by the type of product or service you select. Depending on the
specific situation, 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 important investor
information regarding working with Fidelity, including information regarding our products and services and
conflicts of interest, as well as account agreements and related disclosures, available at www.fidelity.com
/information or through a Fidelity representative.

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
© 2021 FMR LLC. All rights reserved.

541395.15.0 1.907361.110
Brokerage Commission 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/
and Fee Schedule 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
FEES AND COMPENSATION 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
Fidelity brokerage accounts are highly flexible, and our cost from the fund’s advisor or its affiliates in connection with the Marketing Program.
structure is flexible as well. Our use of “à la carte” pricing for FBS is entitled to receive additional payments during or after termination of
many features helps to ensure that you only pay for the the Marketing Program based upon a number of criteria, including the overall
features you use. 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
About Our Commissions and Fees described in the ETF’s prospectus and related documents.
The most economical way to place trades is online, meaning Certain ETF sponsors pay an asset-based fee in support of their ETFs on Fidelity’s
either through Fidelity.com, Fidelity Active Trader Pro®, or Fidelity platform that supports services including related shareholder support services, the
Mobile®. The next most economical way is Fidelity Automated provision of calculation and analytical tools, as well as general investment research
Service Telephone (FAST®). This automated service is available and education materials regarding ETFs. Fidelity does not receive payment from
these ETF sponsors to promote any particular ETF to its customers, and these
around the clock and can be accessed from a touch-tone phone. ETF shares are not marginable for 30 days after purchase. Customers purchasing
The fees described in this document apply to the Fidelity shares in a limited number of ETFs that are not supported by their providers will be
Account®, Non-Prototype Retirement Accounts, Health Savings subject to a $100 service fee.
Accounts (HSAs), and Fidelity Retirement Accounts (including
NEW ISSUE
Traditional, Roth, Rollover, SEP-IRA, SIMPLE IRAs, and Fidelity
Retirement Plans (Keogh and SE 401(k)), and inherited IRAs and Fidelity makes certain new issue products available without a
inherited Keogh accounts). Note that for Stock Plan Services separate transaction fee. Fidelity may receive compensation for
Accounts, a different fee schedule located on NetBenefits.com participating in the offering as a selling group member or underwriter.
may apply for Exercise-and-Sell Fees for Stock Option Plans and The compensation Fidelity receives from issuers when acting as both
Sale of Company Stock. This Fidelity Brokerage Commission and underwriter and selling group member is reflected in the “Range of
Fee Schedule applies to all other transactions. The fees described Fees from Underwriting” column. When Fidelity acts as underwriter
in this document may change from time to time without notice. but securities are sold through other selling group members, Fidelity
Before placing a trade, consider Fidelity’s most recent Brokerage receives the underwriting fees less the selling group fees.
Commission and Fee Schedule, available at Fidelity.com or Securities Range of Fees Range of Fees
through a Fidelity representative. from Participation from Underwriting
in Selling Group
STOCKS/ETFs IPOs • 3 % to 4.2% of the • 5 % to 7% of the
investment amount investment amount
Online $0.00 per trade
FAST® $12.95 per trade Follow-Ons •1
 .8% to 2.4% of the •3
 % to 4% of the
investment amount investment amount
Rep-Assisted $32.95 per trade
The remuneration that Fidelity receives and keeps as described in this Please refer to the applicable pricing supplement or other
section applies to transactions and activities involving securities including, offering document for the exact percentage sales concession or
but not limited to, domestic (U.S.) equities traded on national exchanges, underwriting discount.
short sales, exchange-traded funds (ETFs), and U.S.-traded foreign securi-
ties (ADRs, or American Depository Receipts, and ORDs, or Ordinaries).1
For details on foreign stock trading, see the Foreign Stocks section. Large
block orders requiring special handling, restricted stock orders, and certain
OPTIONS
directed orders may carry additional fees, which will be disclosed at the
time of the transaction. Online $0.00 per trade + 65¢ per contract
In addition to the per trade charges identified above, Fidelity’s remuneration FAST® $12.95 per trade + 65¢ per contract
also includes a fee that is charged on all sell orders (“Additional Assessment”). Rep-Assisted $32.95 per trade + 65¢ per contract
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 Buy-to-close orders placed online for options priced 0¢ to 65¢ are
Assessment to pay certain charges imposed on Fidelity by national securities commission-free and are not subject to per contract option fees. For
associations, clearing agencies, national securities exchanges, and other trades placed on other channels, you will not be charged a per contract
self-regulatory organizations (collectively, “SROs”). The SROs in turn pay the fee when the contract price is 65¢ or less. Regular option rates (as shown
SEC using the money they collect from Fidelity and other broker-dealers. above) apply when the contract price exceeds 65¢.
The Additional Assessment that Fidelity charges you is designed to offset Maximum charge: 5% of principal (subject to a minimum charge of $12.95 for
the charges imposed on Fidelity by the SROs, which in turn are intended to FAST trades and $32.95 for Rep-Assisted trades).
cover the costs incurred by the government, including the SEC, for supervising
and regulating the securities markets and securities professionals. You Exercises and assignments are commission-free and are not charged a per
acknowledge, understand, and agree that Fidelity determines the amount contract fee.
of the Additional Assessment in its sole and exclusive discretion, and that In addition to the per trade/contract fees described above, Fidelity’s
the Additional Assessment may differ from or exceed the charges imposed remuneration also includes fees it charges you (“Options Fee”) that are
on Fidelity by the SROs. These differences are caused by various factors, designed to offset the Options Regulatory Fee (“ORF”) that the Options
including, among other things, the rounding methodology used by Fidelity, the Clearing Corporation (“OCC”) charges Fidelity through various options
use of allocation accounts, transactions or settlement movements for which exchanges. The ORF applies to any transaction to buy or sell options contracts
a fee by the SROs may not be assessed, and differences between the dates and represents the cumulative charges imposed by all the participating options
of changes to rates charged by the SROs. You understand, acknowledge, and exchanges. The ORF has ranged from $0.02 to $0.04 per contract but is subject
agree that Fidelity has made no representation that the Additional Assessment to change at any time. You acknowledge, understand, and agree that Fidelity
charged to you will equal the fees assessed against Fidelity by the SROs in determines the amount of the Options Fee charged to you and its other
connection with your transactions. The Additional Assessment is in addition customers in its sole and exclusive discretion, and that the Options Fee amount
to the commissions we charge (i.e., the per trade charges identified above), collected from you by Fidelity may differ from or exceed the ORF that Fidelity
and is included on your trade confirmation as a part of the Activity Assessment pays to OCC. These differences are caused by various factors, including,
Fee. For the exact amount of the Additional Assessment charged on a among other things, the rounding methodology used by Fidelity, the use of
particular transaction, please contact a Fidelity representative. allocation accounts, transactions for which a fee may not be assessed, and
Fidelity Brokerage Services LLC (“FBS”) and/or NFS receives remuneration, differences between the dates of changes to the ORF rate. You understand,
compensation, or other consideration (such as financial credits or reciprocal acknowledge, and agree that Fidelity has made no representation that the
business) for directing orders in certain securities to particular broker-dealers fees assessed to you will equal the fees assessed against Fidelity by the OCC
or market centers for execution. The payer, source, and nature of any in connection with your transactions. This Options Fee is in addition to your
compensation received in connection with your particular transaction will vary commission and is included on your trade confirmation as a part of the Activity
based on the venue that a trade has been routed to for execution and will Assessment Fee. For the exact amount of the Options Fee charged to you on a
particular transaction, please contact a Fidelity representative.

 Financial Transaction Tax of 0.30% of principal per trade on purchases of French securities, 0.10% of principal per trade on purchases of Italian securities, and
A
1

0.20% of principal per trade on Spanish securities may be assessed.

Multi-Leg Option orders placed online are charged a per contract Options Rep-Assisted $1.00 per bond*
Fee for the total number of contracts executed in the trade. Multi-Leg *Rep-Assisted $19.95 minimum
Option orders placed through other channels are charged a commission
and the 65¢ per contract fee. 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.
An “Additional Assessment” is also charged on any order to sell options
contracts. Please refer to the discussion of the “Additional Assessment” in Bond orders cannot be placed through FAST®.
the Stocks/ETFs section of this document for additional information. 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 offer-
BONDS AND CDs ing broker, Fidelity compensation is limited to the prices above.

New Issues, Primary Purchases (all other fixed-income securities Foreign Fixed-Income Trading
except U.S. Treasury) When purchasing a foreign currency–denominated fixed-income security for
settlement in USD, the following additional charges will apply:
Fidelity makes certain new issue products available without a separate
transaction fee. Fidelity may receive compensation from issuers <$1M 0.30% of principal
for participating in the offering as a selling group member and/or $1M–$5M 0.20% of principal
underwriter. The compensation Fidelity receives from issuers when acting >$5M negotiated rate
as both underwriter and selling group member is reflected in the “Range Commercial Paper
of Fees from Underwriting” column. When Fidelity acts as underwriter but Generally, our affiliate NFS will receive compensation in the form of a
securities are sold through other selling group members, Fidelity receives mark-up or mark-down when facilitating transactions in commercial paper.
the underwriting fees less the selling group fees.
MUTUAL FUNDS
BONDS
This section only describes fees associated with your account. Fees
Securities Range of Fees from Range of Fees charged by a fund itself (for example, expense ratios, redemption fees
Participation in from Underwriting [if any], exchange fees [if any], sales charges [for certain load funds]) are in
Selling Group the fund’s prospectus. Read it carefully before you invest.

Agency/GSE N/A •0
 .05% to 1.00% of the Fidelity Funds
investment amount All Methods No transaction fee
FundsNetwork Funds
Corporate •0
 .01% to 2.5% of •0
 .01% to 3.0% of the
Notes the investment investment amount Through FundsNetwork®, your account provides access to over 10,000
amount 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
Corporate •0
 .01% to 2.5% •0
 .05% to 3.0% load status. When you subsequently sell those shares, any applicable fees
Bond of the investment of the investment will be assessed based on the status assigned to the shares at the time
amount amount of purchase.
Municipal •0
 .1% to 2% of •0
 .1% to 2.5% of the Fidelity Brokerage Services LLC, or its affiliates, may receive compensa-
Bonds and the investment investment amount tion in connection with the purchase and/or the ongoing maintenance of
Taxable amount positions in certain mutual funds in your account. FBS may also receive
Municipal compensation for such things as systems development necessary to
Bonds 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 pro-
Structured •0
 .05% to 5.0% of N/A mote its products and services. This compensation may take the form
Products the investment of sales loads and 12b-1 fees described in the prospectus; marketing,
(Registered amount engagement, and analytics program participation fees; maintenance fees;
Notes) start-up fees; and platform support paid by the fund, its investment advi-
Fixed-Rate •2
 % of the invest- •3
 % of the investment sor, or an affiliate.
Capital ment amount amount FundsNetwork No Transaction Fee Funds.
All Methods No transaction fee* Most NTF Funds will have no load.
Please refer to the applicable pricing supplement or other Certain NTF Funds will be available load waived.
offering document for the exact percentage sales concession or Short-term Trading Fees
underwriting discount. 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
CDs not apply to Fidelity funds, money market funds, FundsNetwork Transaction
Securities Range of Fees Range of Fees Fee funds, FundsNetwork load funds, funds redeemed through the Personal
from Participation from Underwriting Withdrawal Service, or shares purchased through dividend reinvestment. In
in Selling Group 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.
CDs — CDIPs • 0 .1% to 2% of •0
 .1% to 2.5% of the The fee will be based on the following fee schedule:
(Inflation the investment investment amount
Protected) amount Online $49.95 flat fee
Fidelity Automated Service Telephone (FAST®): 0.5625% of principal
Structured •0
 .05% to 5% of N/A (25% off representative-assisted rates), maximum $187.50, minimum $75
Products the investment
(Market-linked amount Rep-Assisted: 0.75% of principal, maximum $250, minimum $100
CDs) Keep in mind that the short-term trading fee charged by Fidelity on
FundsNetwork NTF funds is different and separate from a short-term
U.S. Treasury, including TIPS — Auction Purchases redemption fee assessed by the fund itself. Not all funds have short-term
Online No charge redemption fees, so please review the fund’s prospectus to learn more
about a potential short-term redemption fee charged by a particular fund.
Rep-Assisted $19.95 per trade
*Fidelity reserves the right to change the funds available without transac-
tion fees and reinstate the fees on any funds.
SECONDARY MARKET TRANSACTIONS
Mark-ups for all secondary bond (fixed-income) trades are listed below. FundsNetwork Transaction-Fee Funds
Purchases:
U.S. Treasury, including TIPS Online: $49.95 or $100 per purchase. To identify any applicable
Online No charge transaction fees associated with the purchase of a given fund, please
*Rep-Assisted $19.95 refer to the “Fees and Distributions” tab on the individual fund page on
Fidelity.com.
All Other Bonds FAST®: 0.5625% of principal per purchase; minimum $75,
Online $1.00 per bond maximum $187.50
Rep-Assisted: 0.75% of principal per purchase; minimum $100, Dollarized International Trading
maximum $250
Dollarized International Trading allows customers to execute stocks on foreign
These fees may be waived for certain types of periodic investment exchanges in retirement and non-internationally enabled accounts using
accounts. a five-character symbol ending in “F” for settlement in U.S. Dollars. Trade
Redemptions: Amounts are calculated and posted in U.S. Dollars by incorporating a foreign
Fidelity does not charge a transaction fee on any redemption of shares currency exchange. This service is only available through the International
of a transaction-fee fund that were purchased with no load. A fund’s own Trading team at Fidelity and orders will execute during the respective coun-
redemption fees may apply. tries’ regular market hours. At a minimum, all the same countries listed above
for the International Trading offering are available, but please inquire with
You can buy shares in a transaction-fee fund from its principal underwriter your Fidelity representative if you have a question about the availability of any
or distributor without a Fidelity transaction fee. additional countries.
FundsNetwork Load Funds
A fund’s sales charges may apply. Fidelity does not charge a transaction Country Rep Assisted Only*
fee on a load fund. A fund’s own redemption fees may apply. Canada Rep Assisted Commission
All Others Rep Assisted Commission + $50 non-DTC
FOREIGN STOCKS (Depository Trust Company) Fee
Fidelity offers three different opportunities to trade foreign stocks. You can *Per trade
utilize “International Trading,” “Dollarized International Trading,” or Fidelity’s
“Foreign Ordinary Share Trading” services. Depending on the service,
different commissions, taxes, and fees may apply as more fully described Country-Specific Taxes and Fees
below. You may also call a Fidelity representative for further details. The Additional country-specific taxes and fees may be charged as detailed in the
International Trading team at Fidelity is available Monday through Friday, table below for International Trading and Dollarized International Trading.
from 5 a.m.–7 p.m. ET. The list of countries, currencies, taxes, and fees provided below is subject to
change without notice. There may also be further fees, taxes, or other charges
International Trading assessed by intermediaries when conducting transactions in foreign securities
International Trading allows customers to trade stocks from 25 countries and beyond those described here, which could change at any time based on the
exchange between 16 currencies. These trades are placed using a root sym- country or exchange directive. Details regarding these charges are available
bol, followed by a colon (:) and the two-letter country code for the market the from a Fidelity representative.
customer wants to trade in. The commission charged by Fidelity is dependent
on the market in which the order is placed and whether the trade is placed Country Tax (Per Trade)
online or with the assistance of a representative as noted in the table below.
France* Financial Transaction Tax (FTT) .30% of
principal on purchases
Country Online* Rep Assisted*
Italy* Financial Transaction Tax (FTT) .10% of
Australia $32 AUD $70 AUD principal on purchases
Austria 19 EUR(€) 50 EUR(€) Spain* Financial Transaction Tax (FTT) .20% of principal
Belgium 19 EUR(€) 50 EUR(€) on purchases

Canada $19 CAD $70 CAD Ireland Stamp Tax 1.00% of principal on purchases

Denmark 160 DKK 420 DKK Hong Kong Transaction Levy 0.0027% of principal
Trading fee 0.005% of principal
Finland 19 EUR(€) 50 EUR(€) Stamp Duty 0.10% of principal
France 19 EUR(€) 50 EUR(€) South Africa Securities Transfer Tax .25% of principal
on purchases
Hong Kong $250 HKD $600 HKD
Singapore Clearing fee of 0.04% of principal
Germany 19 EUR(€) 50 EUR(€)
United Kingdom PTM Levy 1 GBP where principal amount is
Greece 19 EUR(€) 50 EUR(€) > £10,000 Stamp Duty 0.50% of principal
Ireland 19 EUR(€) 50 EUR(€) on purchases

Italy 19 EUR(€) 50 EUR(€) *Certain securities based on market capitalization

Japan 3,000 JPY(¥) 8,000 JPY(¥) Please also note that if a security trading on an exchange in one of the
markets noted above is only listed for trading in a currency other than that
Mexico 360 MXN 960 MXN country’s local market’s currency, then the fees that will be charged will be
based on the currency the security is trading in instead of the identity of the
Netherlands 19 EUR(€) 50 EUR(€)
local market.
New Zealand $35 NZD $90 NZD
Foreign Currency Exchange
Norway 160 NOK 400 NOK
In addition to the commissions, taxes, fees, and other charges for International
Poland 90 PLN 235 PLN Trading and Dollarized International Trading, a currency exchange fee (in the
form of a markup or markdown on the exchange rate) will be charged based
Portugal 19 EUR(€) 50 EUR(€) on the size of the currency conversion, pursuant to the following schedule:
Singapore $35 SGD $90 SGD
Total Foreign Cost
South Africa 225 ZAR 600 ZAR Exchange
Amount
Spain 19 EUR(€) 50 EUR(€)
<$100K 1.0% of principal
Sweden 180 SEK 480 SEK
$100K–<$250K 0.75% of principal
Switzerland 25 CHF 65 CHF
$250K–<$500K 0.50% of principal
United Kingdom 9 GBP(£) 30 GBP(£)
$500K–<$1M 0.30% of principal
*Per trade
$1M+ 0–0.20% of principal
Note that retirement account registrations are ineligible for this service. Please
also note that if a security trading on an exchange in one of the markets Note: The Foreign Currency Exchange Fees above are applied to orders filled
noted above is only listed for trading in a currency other than that country’s in the local country markets listed above. Rates may vary for additional curren-
local market’s currency, then the commission that will be charged will be cies in available countries not listed in this schedule. Details are available from
based on the currency the security is trading in instead of the identity of the a Fidelity representative.
local market.
Foreign Ordinary Share Trading Nonretirement Accounts
Foreign Ordinary Share Trading allows customers to trade shares in foreign Debit Card and ATM Fees There is no annual fee for the Fidelity®
corporations on the over-the-counter (OTC) market using a five-character Debit Card or the Fidelity HSA® debit card. You may be charged separate
symbol ending in “F.” Trades in foreign ordinary shares can be placed online fees by other institutions, such as the owner of the ATM. Note: You cannot
through the domestic equity order ticket or through a Fidelity representative.
use the Fidelity HSA® debit card at an ATM.
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 For Fidelity Account® owners coded Premium, Private Client Group,
that is not Depository Trust Company eligible. Retirement and non-retirement Wealth Management, or with household annual trading activity of 120
accounts are eligible for this service.
or more stock, bond, or options trades, your account will automatically
Country-Specific Taxes and Fees 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®
Additional country-specific taxes and fees may be charged as detailed in the logos. The reimbursement will be credited to the account the same day
table below for Foreign Ordinary Share Trading. The list of countries, taxes, the ATM fee is debited. In rare instances, ATM owners may not itemize
and fees provided below is subject to change without notice. There may also
fees, which may cause disruption of individual automatic rebates. Should
be further fees, taxes, or other charges assessed by intermediaries when
conducting transactions in foreign securities beyond those described here, this occur, please contact Fidelity. Please note there may be a foreign
which could change at any time based on the country. Details regarding these transaction fee of 1% included in the amount charged to your account.
charges are available from a Fidelity representative.
Fidelity debit cards are issued by PNC Bank, N.A., and the debit card
Country Tax (Per Trade) programs are administered by BNY Mellon Investment Servicing Trust
Company. These entities are not affiliated with each other or with Fidelity.
France* Financial Transaction Tax (FTT) .30% of Visa is a registered trademark of Visa International Service Association,
principal on purchases and is used by PNC Bank pursuant to a license from Visa U.S.A. Inc.
Italy* Financial Transaction Tax (FTT) .10% of Transfer and Ship Certificates $100 per certificate; applies only to
principal on purchases customers who have certificate shares reregistered and shipped; waived
Spain* Financial Transaction Tax (FTT) .20% of principal for households that meet certain asset and trade minimums at Fidelity2
on purchases
HSAs
*Certain securities based on market capitalization
Annual fees For Fidelity HSAs that are opened through, or serviced by,
Note: The taxes and fees, if any, will be disclosed individually on the trade an intermediary, or in connection with your workplace benefits, Fidelity
confirmation. may deduct:
• an administrative fee of up to $12 per quarter ($48 annually) from
OTHER INVESTMENTS your Fidelity HSA, unless it is paid by your employer (may be waived
for households that were established before a certain date and meet
Unit Investment Trusts (UITs) $35 minimum per redemption; no fee certain asset minimums at Fidelity).
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 Fee and Trading Policies
selling group range from 1% to 4% of the public offering price. Fidelity Commissions will be charged per order. For commission purposes,
may also receive compensation for reaching certain sales levels, which orders executed over multiple days will be treated as separate
range from 0.001% – 0.0025% of the monthly volume sold. orders. Unless noted otherwise, all fees and commissions are
Precious Metals debited from your core account.
% Charged on % Charged on
Buy Gross Amount Gross Amount Sell Gross Amount Gross Amount Fee Waiver Eligibility
$0–$9,999 2.90% $0–$49,999 2.00% To determine your eligibility for fee waivers, we group the assets
$10,000–$49,999 2.50% $50,000–$249,999 1.00% and trading activity of all of the eligible accounts shown on your
$50,000–$99,999 1.98% $250,000+* 0.75% periodic account statement.
$100,000+* 0.99% Eligible accounts generally include those maintained with
*delivery charges and applicable taxes if you take delivery Fidelity Service Company, Inc., or FBS [such as 401(k), 403(b),
Fidelity charges a quarterly storage fee of 0.125% of the total value or
or 457 plan assets] or held in Fidelity Investments Life Insurance
$3.75, whichever is greater. Storage fees are pre-billed based on the Company accounts, Fidelity Portfolio Advisory Service® or Fidelity®
value of the precious metals in the marketplace at the time of billing. Personalized Portfolios accounts. Assets maintained by Fidelity
For more information on these other investments and the cost of a specific Personal Trust Company, FSB, are generally not included. We may
transaction, contact Fidelity at 800-544-6666. Minimum fee per precious include other assets at our discretion.
metals transaction: $44. Minimum precious metals purchase: $2,500 ($1,000 We will review your account periodically to confirm that your
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. 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
OTHER FEES AND COMPENSATION accounts promptly after a daily review of trading activity, and
monthly after a review of household assets. All trading activity is
All Accounts measured on a rolling 12-month basis.
Foreign Currency Wires up to 3% of principal; charged when If you believe there are eligible accounts within your household
converting USD to wire funds in a foreign currency that are not being counted in our fee waiver eligibility process —
for example, accounts held by immediate family members who
Foreign Dividends / Reorganizations 1% of principal; charged when reside with you — you may authorize Fidelity to consolidate these
a dividend is paid or a reorganization event occurs on a foreign asset held
accounts into an aggregated relationship household and review
in an account in USD
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.

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.
2
Limits on Feature Eligibility Your rate of interest will change without notice based on changes
Retirement accounts and Fidelity BrokerageLink® accounts cannot in the base rate and in your average debit balance. When your
trade foreign securities or sell short, are not eligible for margin interest rate is increased for any other reason, we will give you at
loans, and may be subject to other rules and policies. Please see least 30 days’ written notice. If the base rate is stated as a range,
the literature for these accounts for details. we may apply the high end of the range.
For any month where your monthly margin charges are $1 or more,
Prospectuses and Fact Sheets your monthly statement will show both the dollar amount and the
rate of your interest charges. If your interest rate changed during the
Free prospectuses are available for UITs, Fidelity funds, and Fidelity
month, separate charges will be shown for each rate. Each interest
FundsNetwork® funds. Fact sheets are availab­le for certificates of
cycle begins the first business day following the 20th of each month.
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. Other Charges
You may be assessed separate interest charges, at the base rate
Margin Fees plus two percentage points, in connection with any of the following:
Understanding how margin charges are calculated is essential • Payments of the proceeds of a security sale in advance of the
for any investor considering or using margin. The information regular settlement date (such prepayments must be approved
below, provided in conformity with federal securities regulations, in advance)
is designed to help you understand the terms, conditions, and • When the market price of a “when-issued” security falls below
methods associated with our margin interest charges. your contract price by more than the amount of your cash deposit
For all margin borrowing — regardless of what you use it for — we • When payments for securities purchased are received after the
charge interest at an annual rate that is based on two factors: our settlement date
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.
How Interest Is Computed
The following table shows the premiums and discounts we apply Interest on debit balances is computed by multiplying the average
to our base rate depending on the average debit balance: daily debit balance of the account by the applicable interest rate
in effect and dividing by 360, times the number of days a daily
Interest Charged debit balance was maintained during the interest period.
Interest Charged
Average Debit Balance Above/Below Base Rate Marking to Market
The credit balance in the short account will be decreased or
$0–$24,999.99 +1.250%
increased in accordance with the corresponding market values
$25,000–$49,999.99 +0.750%
of all short positions. Corresponding debits or credits will be posted
$50,000–$99,999.99 –0.200%
to the margin account. These entries in the margin account will, of
$100,000–$249,999.99 –0.250%
course, affect the balance on which interest is computed. Credits in
$250,000–$499,999.99 –0.500%
your short account, other than marking to market, will not be used
$500,000–$999,999.99 –2.825%
to offset your margin account balance for interest computation.
$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.
In the event that we have to take action in your account to meet
a margin call, you will be charged the Rep-Assisted rate for such
transactions.

459374.66.0FA-FEES-0224
 1.828131.164
 Rev. 06/2023

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 DOES FIDELITY CAN YOU LIMIT

YOUR PERSONAL INFORMATION SHARE? THIS SHARING?

For our everyday business purposes —

such as to process your transactions, maintain your account(s),
Yes No
respond to court orders and legal investigations, or report to
credit bureaus

For our marketing purposes —

Yes No
to offer our products and services to you

For joint marketing with other financial companies No We don’t share

For our affiliates’ everyday business purposes —

Yes No
information about your transactions and experiences

For our affiliates’ everyday business purposes —

No We don’t share
information about your creditworthiness

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.
WHO WE ARE
Who is providing Companies owned by Fidelity Investments using the Fidelity name to provide financial services
this notice? to customers, and the Fidelity Funds. A list of companies is located at the end of this notice.

WHAT WE DO
How does Fidelity To protect your personal information from unauthorized access and use, we use security
protect my personal measures that comply with federal law. These measures include computer safeguards and
information? secured files and buildings.
How does Fidelity We collect your personal information, for example, when you
collect my personal open an account or direct us to buy/sell your securities
information?
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 Federal law gives you the right to limit only
all sharing? 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/privacy.

WHO IS PROVIDING THIS NOTICE?

Empire Fidelity Investments Life Insurance Company®; FIAM LLC; Fidelity Brokerage Services LLC; Fidelity Distributors Company LLC; Fidelity
Diversifying Solutions LLC; Fidelity Funds, which include funds advised by Strategic Advisers LLC and Fidelity Diversifying Solutions LLC; Fidelity
Health Insurance Services, LLC; Fidelity Institutional Wealth Adviser LLC; Fidelity Insurance Agency, Inc.; Fidelity Investments Institutional Operations
Company LLC; Fidelity Investments Life Insurance Company; Fidelity Management Trust Company; Fidelity Personal and Workplace Advisors LLC;
Fidelity Personal Trust Company, FSB; Fidelity Wealth Technologies LLC; National Financial Services LLC and Strategic Advisers.
The FIAM privately offered funds, which include funds advised by FIAM LLC and under general partner/managing member FIAM Institutional
Funds Manager, 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.

457270.20.0
Effective June 2023 FA-PRIV-0623
© 2023 FMR LLC. All rights reserved. 1.828133.120
 © 2015. All rights reserved.
Fidelity Brokerage Services LLC and National Financial Services LLC, Members NYSE, SIPC
900 Salem Street, Smithfield, RI 02917

574045.4.0 BROK-COV-SAD-XXXX
3.830052.XXX