Electronic Services Shareholder Agreement

Purpose of Agreement

This Electronic Services Agreement (the "Agreement") covers the provision of online access for Franklin Templeton Shareholders by Templeton Global Advisors Limited ("TGAL") and to use information, products and Services available through the Franklin Templeton Middle East Web Site (the "Site"). Only Shareholders who agree to the terms of this Agreement (referred to from now on as "You") will be able to use the Site.

Nothing in this Agreement should be construed as a solicitation or recommendation to buy or sell any products of Franklin Resources, Inc. and its associated subsidiaries and affiliates, including those products distributed by TGAL ("TGAL Products").

Your consent to the terms of this Agreement

If You agree to the content of this Agreement, You should click on the "Accept" button at the end of this Agreement to acknowledge Your consent and intention to be bound by these terms. By clicking on the "Accept" button, completing the registration process, obtaining a password, and using the Site, You indicate that You understand and intend this Agreement to be the legal equivalent of a signed, written contract, and equally binding, and that You will use the Site in a manner consistent with applicable laws and regulations and in accordance with the terms in this Agreement, as the same may be amended from time to time.

You acknowledge that the information and any instructions related to the Site shall be available only in English.  Accessing your account information on the Site means sending and receiving personal financial information over the Internet. You are also authorising TGAL to act on instructions received by computer (including instructions received from commercial online services like AOL, T-Online, and the Internet) for any permitted actions related to your account access (including account maintenance actions) through the Site. All permitted actions related to your account access are subject to any terms, restrictions and policies stated in the prospectus of the respective fund and the relevant account application. 

Nothing in this Agreement or on the Site shall be considered or form part of any offer for shares of any funds offered by Franklin Templeton Investments or an invitation to apply for shares of any such fund, and subscription for shares in any such fund can only be made on the basis of such funds’ current prospectus or other offering document. 

What this Agreement allows You to do

TGAL may make available services that allow You to look up certain account details through the Site relating to the shares in TGAL Products held by You ("Services").  You will not be able to transmit any subscription, redemption or exchange orders relating to any of the TGAL Products through the Site.

TGAL may, at any time and for any reason, remove particular products from the list of TGAL Products and may vary or remove the Services which we make available to You under this Agreement.

Term of this Agreement and Termination

This Agreement may be terminated by TGAL or by You at any time by written notice or email to the other party. This Agreement will terminate automatically when Your account is closed or when You or TGAL fail to comply with the terms of this Agreement. TGAL reserves the right, without liability, at any time, to change any of the Services offered on this Web site or to deny or restrict Your access and to terminate this Agreement. TGAL reserves the right to deny access to the Services if you fail to type the correct User ID and/or Password three consecutive times. You may then be required to complete the registration process again for online access.

Your responsibilities under this Agreement

You shall be the only authorized user of the Services offered under this Agreement. You agree to keep confidential the data, information, or Services provided under this Agreement. You shall be responsible for the confidentiality and use of your passwords and other security data, methods and devices. You will be solely responsible for the use of any data, information, or Services obtained, using Your User IDs and Passwords. Any instructions communicated to TGAL through these means will be deemed to have been sent and authorized by You and shall be deemed to have been made at the time received by TGAL and in the form received except for instructions which have been erroneously generated, repeated, changed or otherwise affected by TGAL’s systems or otherwise under circumstances controlled by TGAL. You will notify TGAL immediately if You

·         receive a written acknowledgement after your initial registration, change of User ID or performance of certain account maintenance actions and this acknowledgement does not match your records;

TGAL and other third party Information

Certain information including last sale transaction data and other financial market data, third-party research and analysts' reports, opinions, price charts, news reports, and other information relating to TGAL Products or other products and securities in the market, may be made available from outside data sources. This information has been obtained through sources believed reliable but TGAL makes no representation with respect to, nor does it guarantee or endorse the accuracy, completeness, reliability or availability of, such information.

No advice

You agree and acknowledge that any information You receive pursuant to this Agreement is not intended to constitute investment, tax or legal advice. Reliance on content or information obtained from or through the Site is at Your sole risk.

Limitation of liability

Except in cases of breach of essential contractual duties under this Agreement, TGAL will not be liable for simple negligence.

Moreover, TGAL will not be liable to You:

·         for any consequential, incidental, special or indirect damages (including but not limited to lost profits, trading losses and other damages) that result from inconvenience, delay or loss of the use of the electronic Services provided under this Agreement;

In no event will TGAL be liable to You for any loss or damages caused by force majeure, riot, war or natural events or due to other occurrences for which TGAL is not responsible (e.g. strike, lock-out, administrative acts of domestic or foreign high authorities).

Security of the Internet

You acknowledge that data, including e-mail, electronic communications and personal financial data, may be accessed by unauthorised third parties when communicated between You and TGAL using the Internet, other network communications facilities, telephone or any other electronic means. TGAL is not responsible for the security of information transmitted via the Internet, the accuracy of the information contained on the Site, or for the consequences of any reliance on such information.

Data Protection

TGAL might collect and store information gathered from Your online session. TGAL is entitled by You to share this information with and transmit to any affiliated company registered inside the European Community or in the United States of America. TGAL will use this data only for advice by dealers or for promotional services, to improve Your Web experience and to evaluate the site’s Services and features. You may revoke this consent to any collection, storage and transmission of data at any time with effect from Your revocation.

Changes to this Agreement

Any amendments of this Agreement will be notified to You. They shall be deemed to have been approved unless You object in writing within one month from the notification of the amendments. You might also agree explicitly, which includes click to accept approval

Governing Law

This Agreement shall be governed by and construed in accordance with Bahamian law.  The Bahamian courts shall have exclusive jurisdiction to settle any disputes or claims which may arise out of or in connection with this Agreement for which purposes both parties agree to submit to its jurisdiction.
Should any provision in this Agreement become wholly or partially ineffective, this shall not affect the validity of the remaining provisions of the Agreement. In place of the ineffective provision an appropriate regulation shall apply which – as far as it is legally possible – most closely reflects the intention of the parties concluding this Agreement.