The following are terms and conditions of a legal agreement between you and First Principles Capital Management, LLC ("FPCM"). By accessing, browsing and/or using this web site, http://www.fpcmllc.com (the "Site"), you hereby accept and agree to be bound by these terms and conditions set forth and to comply with all applicable laws and regulations.

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING THE SITE. EACH TIME YOU USE THE SITE, YOUR USE INDICATES YOUR FULL ACCEPTANCE OF AND AGREEMENT TO ABIDE BY THE TERMS AND CONDITIONS IN ITS THEN CURRENT FORM. IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS STATED BELOW, DO NOT ACCESS THIS SITE, OR ANY PAGES THEREOF.

Trademark notices
The Site is protected by one or more copyrights, patents, database rights, trademarks, service marks and/or other intellectual property and proprietary rights that are owned by FPCM, its affiliates and/or third parties.

FPCM, First Principles and the FPCM logo are exclusive trademarks and service marks of First Principles Capital Management, LLC and its subsidiaries. Other product and company names appearing on the Site may be trademarks of their respective owners.

Use of information
The information provided on FPCM's site is not intended for distribution or use by any person or entity in any jurisdiction where such distribution or use would be unlawful or would subject FPCM to any registration requirement within such jurisdiction.

Limitation of liability
The information on this site is provided "AS IS". FPCM does not warrant the accuracy, timeliness, validity or completeness of the information contained herein. FPCM is not responsible for any usage or interception by any third party of any information contained on this site. We make reasonable efforts to provide accurate content on the Site, but at times we may not promptly update or correct the Site even if we are aware that it is inaccurate, outdated or otherwise inappropriate. We may change all or any portion of the Site at any time without notice to you. We do not endorse the opinions of, or warrant the accuracy of facts or other Content contributed by, any third party. You agree that we are not liable for any action you take or decision you make in reliance on any content.

Content for information purposes
The information on this Site is for information purposes only. Neither the information, nor any opinion contained in this site, is a solicitation or offer to buy or sell any securities, derivative contract, futures, options, life insurance or other financial instruments or provide any investment advice or service. We do not give any advice or make any representations through the Site as to whether any security or investment is suitable to you or will be profitable.

The information contained in this Site has been prepared for consideration and use by a general audience and is not designed for any particular client's investment needs or financial position. FPCM is not liable, will not be liable, and will not have any responsibility of any kind for any events resulting from the usage of any kind of the information contained herein.

Some products and services described in this Site may not be available to all clients. Pricing and other information generated through the use of data or services made available herein may not reflect actual prices or values that would be available in the market at the time provided or at the time that the user may want to purchase or sell a particular security or other instrument.

Links to other sites
This site may contain links to web sites controlled or offered by third parties (non-affiliates of FPCM). FPCM hereby disclaims liability for, any information, materials, products, or services posted or offered at any of the third party sites linked to this Site. By creating a link to a third party web site, FPCM does not endorse or recommend any products or services offered or information contained at that web site, nor is FPCM liable for any failures of products or services offered or advertised at those sites. Such third party may have a privacy policy different from that of FPCM so it is important to read the policies of those sites before sharing your personal information.

Password
FPCM may provide you with a password to access certain areas of the Site. You are solely responsible for maintaining the confidentiality and security of your password. You may not disclose your password to any third party. You accept full responsibility for any use of your password. You must notify FPCM immediately of any actual or suspected loss, theft or unauthorized use of your password. We are not obligated to inquire as to the authority or propriety of any use of or action taken under your password. We will not be responsible for any loss to you that arises from such use or action or from your failure to comply with these provisions.

Photographer Credits
Amy Dachille

All photographs appearing in the FPCMLLC web site are the exclusive property of FPCMLLC & Amy Dachille, and are protected under United States and international copyright laws. The designs and photographs MAY NOT BE DOWNLOADED, reproduced, copied, stored, manipulated, projected, used, or altered in any way, including without limitation any digitalization or synthesizing of the images, alone or with any other material, by use of computer or other electronic means or any other method or means now or hereafter known, without the written permission of Amy Dachille and payment of a fee or arrangement thereof. No images are within Public Domain. Use of any images as the basis for another photographic concept or illustration is a violation of copyright. By entering this site, you are agreeing to be bound by the terms of this agreement.