EXHIBIT 10.12 NOTE: PORTIONS OF THIS EXHIBIT ARE THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST BY THE REGISTRANT TO THE SECURITIES AND EXCHANGE COMMISSION. SUCH PORTIONS HAVE BEEN REDACTED AND ARE MARKED WITH A "[*]" IN PLACE OF THE REDACTED...Penson Financial • March 21st, 2006 • Penson Worldwide Inc • Security brokers, dealers & flotation companies • Pennsylvania
PENSON FINANCIAL SERVICES, INC.Penson Financial • October 17th, 2001
Penson Financial Services, Inc. (“Penson”) and the person holding the above-named account (“Customer”) have executed the Penson Financial Services, Inc. And/Or Broker Dealers For Which It Clears Customer Account Agreement (the “Customer Agreement”). This agreement (the “Subaccount Agreement”) supplements the Customer Agreement and by signing below, the parties agree to the following terms:
PENSON FINANCIAL SERVICES, INC.Penson Financial • October 9th, 2003
shall have authority on behalf of the partnership account to buy, sell and otherwise deal in, through you as brokers, stocks, bonds, put and call options and other securities, futures or commodities on margin or otherwise (including short sales); to receive on behalf of the partnership account demands, notices, confirmations, reports, statements of account, and communications of every kind; to receive on behalf of the partnership account money, securities and property of every kind, and to dispose of same; to make on behalf of the partnership account agreements relating to any of the foregoing matters and to terminate or modify same or waive any of the provisions thereof; and generally to deal with you on behalf of the partnership account as fully and completely as if the undersigned alone were interested in said account, all without notice to the other or others interested in said account. Notwithstanding the foregoing, you are authorized in your discretion to require action by any co
