Legal Disclaimer

All persons using the Alambic Investment Management, L.P., (“Alambic”) website (“Site”) expressly agree to the following legal disclaimer as a pre-condition to using this Site for any purpose whatsoever.

The materials on the Site including, without limitation, news articles, informational materials and all other manager-specific information, have been prepared for informational purposes only and do not constitute financial, legal, tax or any other advice. All information contained herein is provided “as is.” Alambic expressly disclaims making any express or implied warranties with respect to the fitness of the information contained herein for any particular usage, its merchantability or its application or purpose. All information on this Site is for discussion purposes only, and nothing on this Site should be construed as an offer, or a solicitation to buy, any security or instrument. Any offer will be made by only by means of a formal private placement memorandum and a related subscription agreement to be furnished to prospective investors. Prior to making any investment or hiring any investment manager you should consult with a professional financial advisor, legal and tax advisor to assist in due diligence as may be appropriate and determining the appropriateness of the risk associated with a particular investment. In no event shall Alambic be responsible or liable for the correctness of any such materials on the Site or for any damage or lost opportunities resulting from use of this data.

The password-protected area of this Site contains information from Alambic that may be confidential and is solely intended for use by persons who are registered on this Site. Any disclosure, copying, distribution or use of the password-protected area of this Site by non-registered users is prohibited. The password-protected area of this Site is intended to be viewed only by accredited investors as defined in Regulation D under the U.S. Securities Act of 1933, as amended (“accredited investors”), and by accessing the password-protected area of this Site you acknowledge that you are an accredited investor. Additionally, by accessing the password-protected area of this Site, you agree to immediately contact Alambic if there is any change in your status as an accredited investor. All registered users, including individuals and entities, should communicate with their legal advisors if they believe that their status as an accredited investor has changed. Alambic reserves the right to terminate, at any time, any registered user’s web account with Alambic as well as access to this Site, without giving notice or a reason for such termination to the user. Nothing in this Site may be considered as an offer or solicitation to purchase or sell securities or other services.

Users of the Alambic Site may view, download and print information and materials on this Site for their personal and internal business use, provided that all hard copies contain all copyright and other applicable notices. Users may not reproduce, modify, copy, alter in any way, distribute, sell, resell, transmit, transfer, license, assign or publish any information obtained from this Site. Registered users shall not use this Site at any time for any purpose that is unlawful or prohibited and shall comply with any applicable local, state, national or international laws or regulations when using this Site. Alambic, and the logos and marks included on the Site that identify Alambic’s services and products, are proprietary materials. The use of such terms and logos and marks without Alambic’s express written consent is strictly prohibited.

Copyright in the pages and in the screens of the Site, and in the information and material therein, is proprietary material owned by Alambic, unless otherwise indicated. The unauthorized use of any material on the Site may violate numerous statutes, regulations and laws, including, but not limited to, copyright, trademark, trade secret or patent laws.

If any provision in this legal disclaimer agreement is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.