Terms of Use

AMERICAN CIVICS EXCHANGECORP, INC.
and
THE AMERICAN CIVICS EXCHANGE
RULES

DEFINITIONS

Company means American Civics Exchangecorp, Inc., a Delaware corporation that owns and operates the American Civics Exchange and the Exchange Website.

CEA means the Commodity Exchange Act and all subsequent amendments.

CFTC means the Commodity Futures Trading Commission.

CMA means the Commodity Futures Modernization Act and all subsequent amendments.

Eligible Contract Participant means that definition in Section 1a(12) of the CEA of persons or entities who are eligible to trade on an Exempt Board of Trade.

Exchange means the American Civics Exchange, which is an Exempt Board of Trade pursuant to Section 5(d) of the CEA and Section 36(2) of the CFTC Regulations, and website platform, http://amciv.com.

Exchange Contract(s) means contracts established in the sole discretion of the Exchange, traded by Members on the Exchange and governed by the rules and terms of use established by the Exchange.

Expiration Date means the date established in the sole discretion of the Exchange upon which the Exchange Contracts expire and settle at either $10,000 or $0, depending on whether or not the Underlying Event has occurred.

Exchange Website means http://amciv.com and all corollary pages.

Market means the market established by the Exchange and governed by the rules and terms of use established by the Exchange for trading Exchange Contracts established by the Exchange.

Member(s) means an individual or entity that has been approved by the Exchange to trade on the Market, who is an Eligible Contract Participant and which is bound by the rules and the terms of use established by the Exchange.

Prohibited Parties means persons or entities designated by the Exchange and set forth in the Exchange Insider Trading Policy who are prohibited from trading on the Exchange or participating in the Market.

Settlement Value means the amount paid to the holder of an Exchange Contract, (not including deduction of commissions) of either $10,000 or $0 depending on the position held and the occurrence or non-occurrence of the Underlying Event.

Underlying Event(s) means the occurrence or non-occurrence of certain underlying events, as determined in the sole discretion of the Exchange, which triggers settlement of the Exchange Contract.

EFFECTIVENESS OF RULES AND AMENDMENTS.

The following Rules inform you of how the Exchange operates and of your rights and obligations as a user and Member of the Exchange to trade on the Market. Your use of the Exchange constitutes acceptance of these Rules, which may be amended in the future at anytime and which amendments you shall be deemed to have accepted by virtue of your continued access to these Rules and use of the Exchange. It is your responsibility to remain apprised of these Rules and other terms of use by checking the Exchange Website regularly. Any new features or services made available on the Exchange shall be subject to these Rules.

CONTRACT DETERMINATION, DISPUTE RESOLUTION.

The outcome of all Exchange Contracts is based on the occurrence or non-occurrence of certain Underlying Events, as determined in the sole discretion of the Exchange.

All Exchange Contract have an Expiration Date. All Exchange Contracts are binary in nature, meaning that at the Expiration Date of the Exchange Contract, or earlier, should the Underlying Event occur in the sole discretion of the Exchange, the value of one’s position in the Exchange Contract will either be $10,000 or $0 (excluding commissions or other fees), depending on the occurrence or non-occurrence of the Underlying Event and the position the Member holds in the Exchange Contract.

In some cases, the Exchange Contract may settle earlier than the Expiration Date if the Underlying Event is based on the occurrence of an event prior to the Expiration Date and that Underlying Event in fact occurs, as determined in the sole discretion of the Exchange. In that case, the value of one’s position in the Exchange Contract will either be $10,000 or $0 (excluding commissions or other fees), depending on the position the Member holds, and the Exchange Contract will settle. In the event the Exchange determines that the Underlying Event has occurred prior to the Expiration Date, thereby triggering full settlement of the Exchange Contract, then subsequent events, even if prior to the original Expiration Date, do not affect settlement. In other words, if the Exchange determines that the Underlying Event occurred prior to the Expiration Date, thereby triggering full settlement, then a reversal of the Underlying Event would not affect a prior settlement. For instance, if the Underlying Event triggering settlement is enactment of certain legislation and that legislation is enacted prior to Expiration Date, then the Exchange Contract will undergo final settlement at that time, which will not be reversed if the law is subsequently repealed prior to or after the Expiration Date

All Members agree to indemnify the Exchange and the Company fully for all costs, liabilities and expenses, including but not limited to, attorney’s fees for any dispute of such determination by the Exchange.

The Exchange and its personnel shall be the sole arbiters of whether or not the Underlying Event occurred or did not occur, and, as a result whether a certain position in the Exchange Contract is worth $10,000 or $0 (excluding commissions or other fees) at the Expiration Date, or earlier, should the Underlying Event occur, according to the sole determination and discretion of the Exchange.

Although the Exchange and the Company use best efforts to detail each Exchange Contract and the Underlying Events that would trigger payout, there may be situations where Members of the Exchange do not agree with the Exchange’s determination of whether or not an Underlying Event occurred and hence the value of the Exchange Contract.

In the Event that a Member contests or disputes the Exchange’s determination of whether or not the Underlying Event occurred, it can file a written appeal, which must be sent to the Exchange electronically to appeal@amciv.com within forty-eight (48) hours of the Exchange’s determination of the Exchange Contract outcome. The appeal must state why the party believes the Exchange’s initial determination was incorrect. The Exchange, upon receipt and review of the appeal, will bring the appeal to its board of advisors as soon as reasonably practicable to discuss and review the appeal and make a final determination on the matter. There is no quorum requirement for reviewing the appeal with the Exchange’s board of advisors, and a majority vote on the matter will constitute the final determination on whether or not the Underlying Event occurred and the result of the Exchange Contract.

Any Member using the Exchange agrees and acknowledges that there could be some risk that the Exchange’s determination of whether or not the Underlying Event occurred might be different from the Member’s assessment. Nonetheless, any Member using the Exchange agrees that the determination of the Exchange shall be final, and any Member disputing such determination agrees to indemnify the Exchange and the Company fully for all costs, liabilities and expenses, including but not limited to, attorney’s fees, for any dispute raised regarding such determination.

CONTRACT STRUCTURE.

All Exchange Contracts are binary in nature, meaning that at the Expiration Date of the Exchange Contract, or earlier, should the Underlying Event occur in the sole discretion of the Exchange, the value of one’s position in the Exchange Contract will either be $10,000 or $0 (excluding commissions and other fees), depending on the occurrence or non-occurrence of the Underlying Event and the position the Member holds in the Exchange Contract.

All Exchange Contracts are fully cash collateralized to the maximum extent of one’s net exposure, meaning one has to post their maximum possible loss prior to executing an Exchange Contract. In the event one takes a long position (buys) an Exchange Contract, this amount is the price of the Exchange Contract. In the event one takes a short position (sells) an Exchange Contract, this amount is 10,000 minus the price of the Exchange Contract. In the event one takes a position in an Exchange Contract and then takes an offsetting position in the same Exchange Contract later, then the exposure to the Exchange Contract will be reduced.

FEES

Unless otherwise agreed between the Exchange and a Member, the Exchange charges a fee each time a Member executes a trade and upon the Expiration Date and settlement of an Exchange Contract or upon settlement of an Exchange Contract prior to the Expiration Date. The Exchange charges a fee of 0.5% of the total notional value of the Exchange Contract ($10,000), which equals a fee of $50 per Exchange Contract, each time a Member executes a trade. Upon the Expiration Date, or upon earlier settlement, the Exchange charges a fee of 0.5%, or $50 of the final settlement for each Exchange Contract.

For example, if Party A buys Contract 1 and Party B sells Contract 1, both Party A and Party B will pay a commission of 0.5%, or $50 per Exchange Contract, to the Exchange. If Party A then sells Contract 1 prior to the Expiration Date and Party C buys Contract 1 from Party A, both Party A and Party C will pay a commission of 0.5%, or $50 per Exchange Contract, to the Exchange.

If Party A bought two quantities of Contract 1 and Party B sold two quantities of Contract 1, then both A and B would pay a commission of $100 to the Exchange (0.5% of $20,000 each).

At the Expiration Date, or upon earlier settlement if the Exchange determines that the Underlying Event triggering payment and settlement has occurred, the Exchange Contract will expire and settle, and the Exchange will receive 0.5%, or $50 per Exchange Contract, of the final settlement, meaning the holder of the Exchange Contract that settles at $10,000 will receive $9,950.

The Exchange or its bank will deduct from your account expenses or fees incurred in connection with your trading or account activity. These include commissions and fees for wire transfers or check processing via electronic check, if applicable.

OPENING AN ACCOUNT.

To open an account with the Exchange you must meet, and agree that you do in fact meet, the following conditions: (1) You are at least 18 years of age; (2) you do not currently hold an account with the Exchange, nor did you hold an account with the Exchange that was closed due to a legal violation or violation of the Exchange’s Rules or other terms of use; (3) you have never been subject to bankruptcy; (4) your use will not violate any laws or any Exchange Rules or terms of use; (5) you are not a Prohibited Party, as defined in the Exchange’s Insider Trading Policy; (6) you are not using the Exchange for any fraudulent or manipulative purposes, and; (7) you are an Eligible Contract Participant, as defined in Section 1a(12) of the CEA.

The Exchange reserves the right to use whatever legal means necessary to verify information, including financial information, provided to the Exchange for the purposes of opening an account and complying with the Exchange Rules and terms of use. The Exchange also reserves the right to reject an application to open an account or to suspend or close an account for any reason or no reason at all without any liability or obligation. Any Member or prospective Member agrees to hold the Exchange harmless for any decision to reject, suspend or close an account.

Prior to opening an account on the Exchange, the Exchange may require individuals or institutions to confirm identity, financial eligibility and compliance with Eligible Contract Participant status. The Exchange may seek to, in cooperation with a prospective Member, or independent of a prospective Member, verify identity, financial eligibility and compliance with Eligible Contract Participant status.

For publicly traded institutions, the Exchange may seek to confirm financial eligibility and compliance with Eligible Contract Participant status by requiring affirmative representations, as well as by verifying such financial eligibility through publicly filed documents and by confirming identity though an email address demonstrably associated with the institution in question, a published phone number associated with the institution in question, or if neither an email address or phone number is available, physical mail on letterhead of the institution in question. For individuals and privately held companies, the Exchange may seek to confirm financial eligibility and compliance with Eligible Contract Participant status by requiring affirmative representations, as well as a letter from a financial institution affirming that the prospective participant meets the relevant financial threshold.

MAINTAINING AN ACCOUNT.

The Exchange is not a bank or financial institution and does not provide banking facilities or services. The Exchange does not pay interest on any funds placed into a Member’s Exchange account. The Exchange also does not perform any clearing functions and all transactions are fully cash-collateralized. This means that there is no credit exposure to the Exchange or the Exchange Contract counter-party when trading on the Exchange. In order to execute a transaction in an Exchange Contract, however, Members are required to post the maximum amount of their loss in the transaction in their account.

Once you are an approved Member of the Exchange and have opened an account, you must continue to comply with these Rules, any other terms of use and all laws and regulations, including relevant provisions of the CEA, CMA and CFTC regulations. You must cooperate promptly and fully with the Exchange, its agents, and/or the CFTC in any investigation, call for information, inquiry, audit, examination or proceeding. Additionally, you must update your e-mail address within 24 hours after it has changed and update all other information provided in your application for membership within five (5) days after that information has changed. If you fail to satisfy these obligations, the Exchange may suspend or revoke your privileges in full or in part.

As a Member you also consent to allow the Exchange to provide all information the Exchange has about you, including your trading activity to the CFTC or any other regulatory or self-regulatory body, law enforcement authority or judicial tribunal.

GOVERNING LAW, JURISDICTION.

All Members using the Exchange agree that any disputes with the Exchange or the Company shall be governed by the laws of New York and all Members agree and submit to the sole and exclusive jurisdiction of the state and federal courts of New York State.

INDEMNITY.

AS A MEMBER, YOU AGREE THAT NEITHER THE EXCHANGE, NOR THE COMPANY, ITS OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, AND/OR SOFTWARE, HARDWARE AND SERVICE PROVIDERS (COLLECTIVELY, THE “EXCHANGE PARTIES”) SHALL HAVE ANY RESPONSIBILITY FOR COMPLIANCE BY MEMBERS WITH ANY LAWS OR REGULATIONS GOVERNING MEMBERS’ CONDUCT. YOU ALSO AGREE THAT NO EXCHANGE PARTIES SHALL BE LIABLE IN ANY MANNER WHATSOEVER FOR ANY LOSS OR DAMAGE SUSTAINED BY A MEMBER, INCLUDING ANY DIRECT, INDIRECT OR CONSEQUENTIAL LOSS, LOSS OF PROFIT OR LOSS OF TRADING OPPORTUNITY, AS A RESULT OF AN ACTUAL OR PROPOSED TRANSACTION OR AS A DIRECT OR INDIRECT RESULT OF ANY SERVICES PROVIDED BY EXCHANGE PARTIES (INCLUDING, WITHOUT LIMITATION, ANY FAILURE IN THE EXCHANGE’S SYSTEMS OR ANY INACCURATE INFORMATION PROVIDE BY ANY PARTY), UNLESS THE RELEVANT EXCHAGE PARTY IS DETERMINED BY FINAL ARBITRATION OR JUDICIAL RULING TO HAVE ACTED IN A MANNER THAT IS RECKLESS OR FRAUDULENT. NOTHING IN THESE RULES SHALL LIMIT LIABILITY IF PROHIBITED BY THE CEA, THE CMA, THE CFTC OR ANY OTHER LAW OR REGULATION THAT GOVERNS THIS EXCHANGE.

All Members using the Exchange agree to fully indemnify the Exchange Parties on demand against all and any liability (which liability shall include, without limitation, all losses, costs, claims, expenses, demands, actions, damages, legal and other professional fees and expenses on a full indemnity basis) which any Exchange Party may suffer or incur as a result of access to and/or use of the service by you, any information, data or material produced by you or any breach by you of any of the provisions of these Rules (or of any law, code or regulation relating thereto or otherwise to the service).

YOU ACKNOWLEDGE THAT YOU HAVE READ THESE RULES, THAT YOU UNDERSTAND THEM AND THAT YOU HAVE HAD AN OPPORTUNITY TO SEEK INDEPENDENT LEGAL ADVICE PRIOR TO AGREEING TO THEM. BY CLICKING “I AGREE” BELOW, YOU AGREE THAT YOU ARE ENTERING INTO A LEGALLY BINDING CONTRACT AND THAT YOU AGREE TO COMPLY WITH THESE RULES.

THE AMERICAN CIVICS EXCHANGE TERMS OF USE

BY CLICKING “I AGREE” BELOW, USER ACKNOWLEDGES THAT USER HAS READ THESE TERMS OF USE (THE “TERMS OF USE”) FOR THE AMERICAN CIVICS EXCHANGE (THE “EXCHANGE”), AVAILABLE THROUGH HTTP://AMCIV.COM (THE “SITE,” AND COLLECTIVELY WITH THE EXCHANGE, THE “SYSTEM”), UNDERSTANDS IT AND AGREES TO BE BOUND BY IT.

THE EXCHANGE MAY MAKE CHANGES AT ANY TIME TO THE TERMS OF USE. ANY MODIFICATIONS TO THE TERMS OF USE WILL BE EFFECTIVE UPON POSTING. USER’S CONTINUED ACCESS TO AND USE OF THE SYSTEM FOLLOWING POSTING OF ANY REVISED TERMS OF USE WILL CONSTITUTE ACCEPTANCE OF THE MODIFIED TERMS OF USE.

1. Provisions of the System; Grant of License; Ownership of and Restrictions on System.

Subject to the provisions of the Terms of Use, the Exchange hereby grants to User a limited, non exclusive, personal, non-transferable license to use the System through an encryption-enabled Internet browser at the Internet connection at http://amciv.com solely for executing, based on the probability of certain underlying policy-related outcomes occurring (the “Underlying Events”), its own proprietary futures contracts (“Exchange Contracts”) and, in approved instances, its customers' trades in Exchange Contracts. This license may not be assigned, sublicensed or otherwise transferred by User in whole or in part. The foregoing express license is the entire license granted to User by the Exchange concerning the subject matter of the Terms of Use and no other license is granted by implication or otherwise. Subject to this express license the Exchange has all rights, title and interest in and to the System. User agrees to preserve the confidentiality of the System and to prevent disclosure of its contents to third parties who do not have a separate, express license. User further agrees not to modify, distribute, or publish, or to reverse engineer, disassemble, decompile, or otherwise seek to discover or view the System, or to make any alteration, addition or connection to the System, each being in whole or in part.

The contents of this site are copyrighted under United States law and protected by worldwide copyright laws and treaty provisions. Materials from the http://amciv.com World Wide Web site may not be copied, distributed or transmitted in any way without prior written consent of the Exchange. Users of the System may download one copy of any and all materials on the Site for personal, non-commercial use provided that they do not modify or alter the materials in any way, nor delete or change any copyright or trademark notice. All material on this System is provided for lawful purposes only. The Exchange reserves complete title and full intellectual property rights for materials downloaded from the System. All of the Exchange trademarks, logos, service marks, trade dress, slogans, copyrighted designs or other brand features, including hyperlinks to the Exchange will be used only as explicitly licensed by the Exchange, and only under the terms and conditions and for the purposes described herein.

2. Fees.

The Exchange reserves the right to charge fees for its services upon posting such fees on the Site or to change such fees at any time upon posting such change. The Exchange charges a commission fee for trading on the Exchange, which is described in more detail in the Exchange Rules.

3. Disclaimer of Liability and Warranties; Indemnity.

User assumes all liabilities and risks associated with use of the System and trading on the Exchange, in whole or in part. THE SYSTEM IS PROVIDED "AS IS," WITH NO REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, AND, TO THE MAXIMUM EXTENT PERMISSIBLE BY LAW, THE EXCHANGE DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT. In no event will the Exchange be liable for any direct, incidental, indirect or consequential damages, even if the Exchange knew or should have known of the possibility of such damages or losses, and even if due to the Exchange’s error, omission or negligence. User will defend and indemnify the Exchange and its affiliates, employees, officers and agents from, and hold them harmless against, any claim, damage, loss, cost or liability based on or related to any claim of damage, loss, cost or liability arising from or in any way relating to the use by User, or any customer of User, of any part of the System or the Exchange, in whole or in part. The Exchange is not responsible for technical, hardware or software failures of any kind; lost or unavailable network connections; incomplete, garbled or delayed computer transmissions. Under no circumstances will the Exchange or its suppliers be liable for any damages or injuries that result from the use of the materials on the Site or any part of the System. Some jurisdictions prohibit the exclusion or limitation of liability for consequential or incidental damages, in which case the above limitation may not apply to you.

4. Representations, Warranties and Covenants by User.

User will permit only authorized persons to enter orders for Exchange Contracts on the System or the Exchange, and User confirms that all such persons shall be properly supervised pursuant to applicable law and regulation or self-regulatory organization regulations applicable to the User, its agents or the System and the System’s policies and procedures. Furthermore, User will not use or permit the use of the System or the Exchange for any illegal, improper, manipulative or fraudulent purpose, and will use the System and the Exchange solely in accordance with the terms of the Terms of Use and all applicable law and regulations. User represents, warrants and covenants to the Exchange as of the date hereof and continuously during the term of the Terms of Use that it (1) is at least 18 years of age (2) has never been subject to bankruptcy; (3) its use will not violate any laws or any Exchange Rules or terms of use; (4) is not a Prohibited Party, as defined in the Exchange’s Insider Trading Policy; (5) is not using the Exchange for any fraudulent or manipulative purposes, and; (6) is an “Eligible Contract Participant,” as such term is defined in the U.S. Commodity Exchange Act, 7 USC §1a(12), the full definition of “eligible contract participant” being available here. If User is a risk management advisor, broker, or other intermediary, User shall adopt, implement and enforce written internal control procedures regarding its use of the System and the Exchange and its entry of orders involving Exchange Contracts thereon to address (i) authorized access, (ii) validation of trade accuracy, and (iii) conformity of orders for Exchange Contracts with established credit and size limits.

5. General.

The Exchange may terminate the User’s access to the Exchange with or without cause or for no reason at all, at any time. All notices sent to the other party pursuant to this Agreement shall be delivered by email which, for The Exchange, shall be info@amciv.com. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to its conflicts of law principles. Nothing in the Terms of Use shall be construed to create a joint venture, agency or partnership between User and the Exchange or the System. User may not assign, pledge, encumber or transfer its rights or obligations under the Terms of Use without the prior written consent of the Exchange. There shall be no third-party beneficiary resulting from the Terms of Use. If any one or more of the provisions of the Terms of Use is held to be unenforceable or void, such provision will be limited and construed so as to make it enforceable or will be deemed stricken from the Terms of Use, with all other provisions of the Terms of Use remaining in full force and effect. Any waiver or amendment of any provision of the Terms of Use shall be effective only if given in a writing signed by the party against whom such waiver or amendment is asserted. The Terms of Use, in conjunction with other agreements on this site, constitutes the entire agreement between the parties with respect to the System and the Exchange and supersedes all prior and contemporaneous agreements, understandings, and commitments with respect to the subject matter hereof.

The Exchange reserves the right to seek all legal and/or equitable damages for any breaches of this Agreement. User acknowledges and agrees that the Exchange may suffer irreparable harm for any breaches of the Terms of Use or other rules, and the Exchange shall be entitled to equitable or injunctive relief without posting a bond.

6. Non-Advice

You acknowledge that the Exchange does not provide you with any legal, tax, estate planning, accounting or financial advice or advice regarding the suitability, profitability or appropriateness for you of any investment, financial product, investment strategy or other matter. You acknowledge that Exchange employees or agents are not authorized to give any such advice, and you will neither solicit nor rely on any investment advice from the Exchange or any of its employees or agents. Any information provided through the System or the Exchange will not be used or considered by you as any recommendation of an investment or particular investment strategy. This information is not an offer, or a solicitation of an offer, to buy or sell any particular financial instrument or product from the Exchange.

7. Exempt Board of Trade; Risks

The Exchange is NOT a Designated Contract Market as defined by the U.S Commodity Futures Trading Commission (“CFTC”) and the U.S. Commodity Exchange Act (“CEA”). The Exchange is NOT registered with, designated, recognized, licensed or approved by the CFTC.

The Exchange operates as an Exempt Board of Trade pursuant to Sections 5(d) of the CEA and 36.2 of the CFTC’s regulations. As such, trading on and participation in the Exchange is limited to Eligible Contract Participants, as defined in Section 1a(12) of the CEA. User represents and warrants having read and understood the definition of an Eligible Contract Participant and that User is in fact an Eligible Contract Participant whose use of or trading on the System and the Exchange meets the requirements of the CEA. The Exchange reserves the right to use whatever means necessary to verify information, including User financial information, for the purposes of ensuring compliance with the Exchange Rules and Terms of Use. The Exchange also reserves the right to reject an application to open an account or to suspend or close an account for any reason or no reason at all without any liability or obligation. Any User or prospective User agrees to hold the Exchange harmless for any decision to reject, suspend or close an account.

Trading contracts on-line on the Exchange involves risk. There is no guarantee or warranty that if you trade any contract you will be able to liquidate or cover your position at any price. You should only trade an Exchange Contract if you are willing to hold that position until expiration, and you may lose all of the money that you use to trade. This website is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this website are for illustrative purposes only.

USER ACKNOWLEDGES THAT USER HAS READ THE TERMS OF USE, UNDERSTANDS THEM, AGREES TO BE BOUND BY THEM, AND HAS HAD AN OPPORTUNITY TO SEEK INDEPENDENT LEGAL ADVICE PRIOR TO AGREEING TO THEM.

Internal Control Procedures for Use of the System

As a user of the System you are responsible for ensuring that individuals entering orders for Exchange Contracts (on your behalf or on behalf of customers) into the System adhere to the following conditions and responsibilities:

• All users will have a unique password. Users shall agree not to disclose this password to any party that is not authorized to operate or access the System.

• All users will comply with all applicable rules and regulations of the market, exchange or self-regulatory organization to which the Exchange Contract order is to be routed.

• All users should know specific trading and size limits established for customer and firm orders.

• All users should validate trade confirmation accuracy.

• All users acknowledge and understand the terms and conditions outlined in the Exchange Rules and Terms of Use.

THE AMERICAN CIVICS EXCHANGE PRIVACY POLICY

The American Civics Exchange (the “Exchange”) is committed to privacy and confidentiality of user information. We also recognize that privacy must be balanced with practicality in order to provide a positive user experience in connection with the information, products and services offered by the Exchange and any of its agents, subsidiaries, affiliated companies, and their respective suppliers.

THE EXCHANGE MAY MAKE CHANGES AT ANY TIME TO THIS PRIVACY POLICY. ANY MODIFICATIONS WILL BE EFFECTIVE UPON POSTING. USER’S CONTINUED ACCESS TO AND USE OF THE EXCHANGE FOLLOWING POSTING OF ANY REVISIONS WILL CONSTITUTE ACCEPTANCE.

This Privacy Policy applies to all transactions with, by, towards, for, or in connection with the Exchange. If you have questions or concerns regarding this Privacy Policy, you should first contact the Exchange at info@amciv.com.

1. COLLECTION OF INFORMATION.

Information may be collected from you at several different points during your use of the Exchange, participation on the Exchange or execution of contracts on the Exchange (“Exchange Contracts”).

Information You Provide Voluntarily. In order to use resources available in connection with the Exchange’s offerings, you must complete our member registration process. During registration, you will be required to provide certain categories of information, such as your name, address, e-mail address, certain financial information, a password and telephone number. You recognize that you are providing this information voluntarily, as you are not obligated in any way to use the Exchange. The Exchange will not disclose any personally identifiable information about you to any third party for marketing purposes.

Passive Collection of Information. In addition to the information that you actively provide to the Exchange by methods such as completing a registration form, the Exchange may collect information about you for purposes such as testing and improving a user's experience with the Exchange and the compilation of broad, aggregate, demographic data and related usage information for internal purposes and for disclosure to third parties such as advertisers and content partners.

One method we may use to collect information is through cookies (a small file containing a string of characters). When you visit the Exchange website, we may send one or more cookies to your computer that uniquely identifies your browser. We may use cookies to improve the quality of our offerings by storing user preferences and tracking user trends, such as how people search. Most browsers are initially set up to accept cookies, but you can reset your browser to refuse all cookies or to indicate when a cookie is being sent. However, some of our features and services may not function properly if your cookies are disabled.

The types of passive information collected in connection with your use of the Exchange and the System include, without limitation, your Internet Protocol address, your browser type, and the web pages you visit on our website and how long you visit or use any of our solution pages. Passive information does not identify you to the Exchange by name, and the Exchange does not link your Internet Protocol address to your personal information which can identify you, unless required to do so by law or as otherwise stated herein.

User communications. When you send email or other communication to the Exchange, we may retain those communications in order to process your inquiries, respond to your requests, improve our offerings or for compliance purposes.

Links. The Exchange may present links in a format that enables us to keep track of whether these links have been followed. We use this information to improve the quality of our customized content and advertising.

Collection of Information from Children. The Exchange abides by federal law and the guidelines set up by the Federal Trade Commission regarding youth privacy (Children's Online Privacy Protection Act). As such, the Exchange will not knowingly collect any personal information from or allow the registration of young people under the age of 18.

2. USE OF INFORMATION.

The information which you supply to the Exchange enables us to provide our services to users, perform research and analysis in order to maintain, protect and improve our services, ensure the technical functioning of our services, and develop new information, products and services. In addition, the Exchange uses your information in order to customize our services to your preferences and interests, and enhance your overall experience in connection with your use of our services.

With respect to your use of the Exchange website, the Exchange tries to recognize you using various methods, including having you log in with your username and a password. Once the Exchange recognizes you, pages, advertisements and other content may be customized for you so that you can see what interests you the most.

In addition, as described above, the Exchange utilizes passive information to learn more about how you interact with our site and services. This passive information collected in connection with your visit or other use of our offerings may be combined with other information for purposes such as testing and improving your experience in connection with our services and the compilation of broad, aggregate, demographic data and related usage information for internal purposes and for disclosure to third parties such as advertisers and content partners. This aggregate, passive, demographic data does not contain any personal information which can identify any individual user.

We process personal information on secure servers. We may process personal information to provide our own offerings. In some cases, we may process personal information on behalf of and according to the instructions of a third party, such as other solution providers to whom you have knowingly subscribed.

We reserve the right, and you acknowledge that we have the right, to use internally or through our contractors and suppliers under terms of confidentiality any information that you provide us in any legally permissible manner.

Contacting You by E-Mail. The Exchange may use your contact information periodically in order to send you e-mail regarding updates at the Exchange website, such as new Exchange offerings which may be of interest to you. The frequency of these messages may vary depending upon your profile. In addition, we may send you free informational newsletters or notices relating to topics which may be of special interest to you. Finally, if you specifically provide the Exchange with permission at the time of your registration, you may also receive commercial e-mails. Out of respect for the privacy of our users, we present the option for users to opt-out of receiving newsletters and/or e-mails regarding the Exchange offerings whenever such messages are sent by the Exchange, as described below. E-mail messages from third parties are not governed by the opt-out provisions of this Privacy Policy, but all such third parties are strongly encouraged by the Exchange to include opt-out procedures in their messages to users.

3. SHARING OF INFORMATION.

The Exchange will not knowingly sell, share, rent or otherwise transfer your information other than in accordance with the terms set forth in this Privacy Policy. During the registration process, and at certain points thereafter in connection with specific offers, the Exchange may ask you whether information about you may be sent to third parties who may have products, services and opportunities which you might find useful. The Exchange understands the importance of confidentiality. Therefore, the Exchange does not share any information that can be tied to you without your permission, unless otherwise set forth herein. If you give the Exchange permission to allow third parties to contact you, your personal information (such as your contact information) may be shared with our subsidiaries, affiliated companies or other trusted businesses or persons for the purpose of processing personal information on our behalf. Regardless of your decision regarding whether the Exchange may share your personal information, the Exchange may share broad, aggregate, demographic data and related usage information with our business partners. This broad, aggregate, demographic data does not contain any personal information which can identify any individual user.

Third Party Service Providers. From time to time, the Exchange may decide that it is more efficient or desirable to use third parties to perform specific services, such as sending newsletters to the Exchange's users. If we use a third party to provide specific services (such as sending newsletters to our users on our behalf), then information (such as contact information) may be shared with that party to the extent necessary for the third party to provide these services. These third party service providers are only allowed to use personally identifiable information for the purpose of providing the specific services requested by the Exchange. The third party services covered by this paragraph do not include links to third party websites found on our website, which are governed by a more specific provision (Links to Other Websites) below.

Disclosure to Prevent Fraud, to Law Enforcement and Similar Disclosures. While the Exchange strives to protect the personal information of our users, the Exchange may share information with software providers or any governmental, judicial or regulatory bodies (i) if the Exchange believes such disclosure is necessary to satisfy any applicable law, regulation, legal process or enforceable governmental request, (ii) in the ordinary course of business to detect, prevent, or otherwise address fraud, security, technical issues, or unauthorized activity or (iii) to protect against immediate harm to the rights, property or safety of the Exchange, its users or the public as required or permitted by law.

4. SECURITY.

The Exchange has security measures in place to help protect against the loss, misuse and/or unauthorized alteration of the personal information under our control. You are the only user authorized to update your profile, unless you provide your password information to another party.

The Exchange helps protect personally identifiable information by utilizing both online and offline security methods. Our security procedures are regularly reviewed and revised, if necessary. We restrict access to personal information to Exchange employees, contractors and agents who need to know such information in order to operate, develop or improve our System.

Even with all of the above security measures in place, we cannot guarantee that your personal information under our control will not be lost, misused and/or altered, and we disclaim any such guarantee to the maximum extent permissible by law. If you have any questions about security issues with respect to any of our offerings, please contact us via the contact information set forth above and we will attempt to answer your questions.

5. HOW YOU CAN UPDATE YOUR INFORMATION.

You can update your personal information by clicking on the Change Account Information link on the Exchange website. We ask individual users to identify themselves and the information requested to be accessed, corrected or removed before processing such requests, and we may decline to process requests that are unreasonably repetitive or systematic, require disproportionate technical effort, jeopardize the privacy of others, would be impractical, or for which access to information is not otherwise required. Users who are experiencing problems with updating their information should contact us via the contact information set forth above and we will try to resolve your problems.

6. OTHER PROVISIONS.

Acceptance of Terms/Changes to Privacy Policy. Your use of the Exchange (including without limitation this website) indicates your acceptance of the terms of the Privacy Policy as part of Terms of Use. The Exchange reserves the right to update or amend this Privacy Policy at any time and will post any amendments to this Privacy Policy on this page, and the Privacy Policy will be deemed updated or amended as of the date of such posting, and your access to the Privacy Policy and continued use of the Exchange will be deemed acceptance of any updated or amended terms of the Privacy Policy and Terms of Use.

Disclaimer. The Exchange provides information on many topics. Some of this information is created by the Exchange, and some of it may be created by third parties. While our website strives to provide accurate other information, the Exchange does not make any warranty regarding the accuracy, completeness, reliability or use of any information provided on this website. The Exchange will not be responsible for any damages, including indirect, special, incidental, punitive, or other consequential damages attributable to your use of the Exchange or the Exchange website.

Sale, Assignment Transfer of Business. In the event that the Exchange sells, assigns or transfers some or all of its business to a successor in interest or acquirer, the Exchange may sell, assign or transfer all of the information collected, as described in this Privacy Policy, regardless of opt-out status, to such successor in interest or acquirer without prior notice to, or consent by, you.

Links to Other Websites. This website contains links to other websites. Please be aware that the Exchange does not exercise control over the information, products, services or policies of third parties accessible through links on our website. We encourage our users to be aware when they leave our website and to read the respective privacy policies of each and every third party website. This Privacy Policy applies solely to the information collected through this website by the Exchange

USER ACKNOWLEDGES THAT USER HAS READ THIS POLICY, UNDERSTANDS IT, AND HAS HAD AN OPPORTUNITY TO SEEK INDEPENDENT LEGAL ADVICE PRIOR TO AGREEING TO IT. BY CLICKING “I AGREE” BELOW, USER HEREBY AGREES TO BE BOUND BY THE TERMS AND CONDITIONS OF THIS POLICY AND THAT THEY ARE HEREBY INCORPORATED INTO THE TERMS OF USE.

The American Civics Exchange Insider Trading Policy

All Users on the Exchange are subject to the provisions of this Insider Trading Policy and their use of the Exchange represents an acknowledgement of and agreement to the terms of this Insider Trading Policy.

Trading on Inside Information Prohibited.

It is a violation for any User to buy, sell or trade contracts on the Exchange (“Exchange Contracts”) while in possession of Material Nonpublic Information relating to the Exchange Contract or to engage in any other action to take advantage of such information or to pass it on to others. Violations of the Insider Trading Policy can lead to severe penalties as discussed in more detail below.

Material Nonpublic Information.

Material Nonpublic Information is information that is not publicly available and which is material to the probability of the outcome of the underlying event that is the subject of the Exchange Contract, and, therefore, the value of the Exchange Contract.

Prohibited Parties.

The following individuals or entities are prohibited from buying, selling or trading Exchange Contracts on the Exchange and are considered Prohibited Parties. Any individual or entity trading on the Exchange represents and warrants that they are not a Prohibited Party.

The federal government and any federally elected officials;
Anybody employed by a federal official or by the federal government;
State or local governments and any state or local elected officials;
Anybody employed by a state or local official or a state or local government;
Foreign governments;
Anybody employed by the Exchange;
Any entities controlled by a Prohibited Party, employed by a Prohibited Party or acting on behalf of a Prohibited Party; and,
Any spouses, parents, grandparents, children, siblings, mothers and fathers-in-law, sons and daughters-in-law, brothers and sisters-in-law, and any entities over which they exercise control, of any Prohibited Party.

Penalties.

Any User who violates this Insider Trading Policy is violating the Terms of Use, and, therefore, breaching its contract with the Exchange and with any counterparties with whom the User transacts on the Exchange, and could be subject to severe civil, and potentially criminal, penalties. Any User that violates this Insider Trading Policy is subjecting the Exchange to severe damages that include, but are not limited to, reputational damage. Such damages are hard to measure, but the Exchange reasonably approximates, and any User hereby agrees, that such damages are reasonably approximated to equal equal to ten (10) times the notional amount of the Exchange Contracts to which the User is buying, selling or trading in violation of this Insider Trading Policy. The User hereby agrees to pay such liquidated damages in the event it is determined the User traded in violation of this Insider Trader Policy.

In addition, any User who violates this Insider Trading Policy shall be subject to civil actions by the counterparty to the Exchange Contract. These causes of action could include, but are not necessarily limited to, actions for breach of contract, rescission and fraud. The Exchange also reserves the right immediately to suspend or permanently revoke a User’s right to trade on the Exchange, and to report such User, if such User violates, or is suspected of violating, this Insider Policy.

In addition to all other penalties herein, any User who violates this Insider Trading Policy agrees to fully indemnify the Exchange on a full indemnity basis for any costs, liabilities, or expenses, including but not limited to attorney’s fees, that the Exchange incurs as a result of a breach of this Insider Trading Policy or in enforcing or prosecuting a breach of this Insider Trading Policy.