This agreement is between AD Capital Markets LTD, which is registered in England and Wales under company number 0765415 (hereby referred to as ‘The Company’), and (hereby referred to as ‘The Introducer’).

The Company and The Introducer are collectively referred to as ‘The Parties’ to The Partnership Agreement.

1 INTRODUCTION OF BUSINESS

In referring your clients/contacts to AD Capital Markets, The Introducer will ensure that clients/contacts have consented to having their details passed to AD Capital Markets and are fully aware that they may be contacted by AD Capital Markets to introduce our services to them, in accordance with the UK Data Protection Act.

For The Introducer to qualify for commissions from a referred client/contact, the referred client/contact must:

a) not be an existing client of The Company and,

b) not have been previously known to The Company.

AD Capital Markets will decide the suitability of the referred clients/contacts, and is under no obligation to take on the aforementioned clients/contacts.

2 COMMISSIONS PAYABLE

For introducing clients/contacts, The Introducer will be paid a commission of the net profit.

AD Capital Markets receives when the the introduced client executes a trade through us.

The net profit is calculated as the gross profit AD Capital Markets makes on the transaction, minus:

a) any payment fees that AD Capital Markets has to pay per trade.

b) any landing fees that AD Capital Market has to pay on any receipt of client funds.

c) any financing charges AD Capital Markets incurs due to delayed settlement of the client’s transaction and,

d) any exceptional transaction charges AD Capital Markets has to charge to client for any reason.

e) Any rewards schemes will be paid from gross first.

The Introducer will be paid in arrears on the last Friday of every calendar month whilst this contract is in effect. This payment will be paid into The Introducer’s nominated bank account and in their nominated currency (as defined later within this contract).

Commissions will only be payable on transactions that have been fully paid up and settled. Commissions payable on forward contract trades will be paid after the aforementioned contracts have reached maturity or a drawdown has been actioned.

If the referred clients/contacts introduced by The Introducer defaults on settling a trade, then AD Capital Markets will deduct the trading losses that AD Capital Markets incurs from any commissions that are owed to The Introducer (both in arrears and going forward).

Commissions will not be paid on trades that result in a compliance or regulatory investigation.

The introducer will be liable for their own tax and AD Capital Markets takes no responsibility.

3 DURATION AND RENEWAL OF THE AFFILIATE AGREEMENT

The term of this agreement is for 12 months, and is effective from the date of accepting this agreement.

This agreement will be automatically renewed at the end of the term, by a further 12 months, unless AD Capital Markets issue a notice of termination (of

which details are set out in clause 8 of The Partnership Agreement).

4 EXCLUSIVITY

This agreement is non-exclusive to both parties, subject to The Introducer’s obligations under clause 5.

5 WARRANTIES AND UNDERTAKINGS

The introducer warrants that:

a) Should The Introducer become aware of any change to the financial circumstances of any of the introduced clients referred to AD Capital Markets, or where The Introducer reasonably thinks that any changes to the clients position might affect AD Capital Markets decision to continue dealing with this client, The Introducer will notify The Company of the change as soon as possible.

b) The introducer shall not act in any manner that would expose AD Capital Markets to any liability.

c) The Introducer shall at no time advertise or publicise any information or other material relating to, AD Capital Markets Ltd or an affiliated company, without the prior written approval from AD Capital Markets.

During the term of this agreement and for a period of 12 months following the termination of this agreement, The Introducer warrants not to attempt to solicit any client of AD Capital Markets to do business with a competitor of AD Capital Markets.

6 CONFIDENTIALITY

During and at any time after the termination of this agreement, neither party will divulge to any person or company any confidential information concerning the affairs of the other party.

7 LIABILITY

AD Capital Markets will not be liable for indirect, special or consequential damage, including loss or damage The Introducer may suffer as a result of action brought by a third party or any loss of revenue, profits or data caused by the failure or delay of any third party in the transmission, provision or delivery of any service provided in connection with The Partnership Agreement, to the

fullest extent permitted by law even if such a loss was reasonably foreseeable.

8 TERMINATION

AD Capital Markets may terminate this agreement at any time, with or without cause, by giving The Introducer written notice of such termination. The Introducer may terminate this agreement by providing no less than 1 months written notice to AD Capital Markets.

In the event of termination, and entitlement The Introducer has to earn commissions from new client/contact introductions (as set out in clause 2) will terminate immediately. The Introducer will only be entitled to receive commissions in respect to qualifying trades dealt during the term prior to the termination date.

9 GENERAL TERMS

Nothing within this agreement is intended to confer any benefit onto any third party (whether referred to herein by name, class, description or otherwise) or any right to enforce an agreement. Should any of the provisions of this agreement be deemed unenforceable or illegal, the remaining clauses will continue in full force and effect.

The Introducer agrees that nothing in this agreement will be deemed to create a legal partnership, joint venture or agency relationship between the parties.

10 EXECUTION

The agreement must be completed, signed and dated as follows:

a) for a company: by a Director of the business, or

b) for a private individual: by the individual acting as an introducer. By signing this agreement you acknowledge that you have read and agreed to be legally bound by its provisions. This agreement is not effective until