• The Site is protected by one or more copyrights, patents, database rights, trademarks, servicemarks and/or other intellectual property and proprietary rights that are owned by Ivory Investment Management, L.P., its affiliates and/or third parties.
  
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• IVORY INVESTMENT MANAGEMENT, L.P. AND ITS AFFILIATES DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE SITE AND THE CONTENT INCLUDING WARRANTIES OF

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- NON-INFRINGEMENT OF INTELLECTUAL PROPERTY AND PROPRIETARY RIGHTS.

• WITHOUT LIMITING OUR GENERAL DISCLAIMER, IVORY INVESTMENT MANAGEMENT, L.P. AND ITS AFFILIATES DO NOT WARRANT THE AVAILABILITY, RELIABILITY, ACCURACY, COMPLETENESS OR TIMELINESS OF THE SITE OR THE CONTENT.

• IN NO EVENT WILL IVORY INVESTMENT MANAGEMENT, L.P. OR ANY OF ITS AFFILIATES, AGENTS OR EMPLOYEES BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES HOWEVER CAUSED ARISING OUT OF THIS USER AGREEMENT, THE SITE, THE CONTENT, THE INABILITY TO USE THE SITE, OR TRANSACTIONS ENTERED INTO THROUGH THE SITE.
• IVORY INVESTMENT MANAGEMENT, L.P. 'S AND ITS AFFILIATES' LIABILITY IS LIMITED EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF THE DAMAGES THAT YOU SUFFER OR IF ANY REMEDY YOU HAVE FAILS OF ITS ESSENTIAL PURPOSE.
• UNDER ALL CIRCUMSTANCES, THE MAXIMUM LIABILITY OF IVORY INVESTMENT MANAGEMENT, L.P. , ITS AFFILIATES, ITS AGENTS AND EMPLOYEES TO ANY USER OF THE SITE WITH RESPECT TO THE SITE AND THE CONTENT IS $100.
• THIS DISCLAIMER OF LIABILITY APPLIES TO ANY AND ALL DAMAGES OR INJURY, INCLUDING THOSE CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO, ALTERATION OF OR USE OF ANY ASSET, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE OR UNDER ANY OTHER CAUSE OF ACTION.

• You agree to indemnify, defend and hold harmless Ivory Investment Management, L.P. and its affiliates, agents and employees from and against any and all suits, losses, claims, demands, liabilities, damages, costs and expenses (including reasonable attorneys' fees) that arise from or relate to:

- your use of the Site,

- your breach of this User Agreement or any representation, warranty or covenant made by you in this User Agreement,

- your violation of any applicable law, statute, ordinance, regulation or of any third party's rights, or

- claims asserted by third parties which, if proven, would place you in breach of representations, warranties, covenants or other provisions contained in this User Agreement.

• With respect to the resolution of any such controversy, you further acknowledge that:

- Arbitration is final and binding on the parties.

- Pre-arbitration discovery is generally more limited than and different from court proceedings.

- The arbitrators' award is not required to include factual findings or legal reasoning and any party's right to appeal or to seek modification of rulings by the arbitrators is strictly limited.

- The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry.

• Any arbitration under this User Agreement shall be conducted before NASD Regulation, Inc, the New York Stock Exchange, Inc. or any other national securities exchange on which a transaction giving rise to the claim took place (and only before such exchange). Arbitration is initiated by a party serving the other party with a written demand for arbitration or a written notice of intention to arbitrate, which demand or notice shall include an election of one of the foregoing forums for arbitration. If you fail to make such election by registered mail addressed to Ivory Investment Management, L.P. at 11755 Wilshire Boulevard, Suite 1350, Los  Angeles, CA 90025 (or any other address of which you are advised in writing), before the expiration of five days after you deliver to Ivory Investment Management, L.P. a written demand for arbitration or a written notice of intention to arbitrate, Ivory Investment Management, L.P. may make such election on your behalf.
• No person shall bring a putative or certified class action to arbitration nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until:

- the class certification is denied; or

- the class is decertified; or

- the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this User Agreement except to the extent stated herein.