Electronic Services Agreement

Please read and accept the following revised agreement effective February 2015

Electronic Services Agreement for Account Access:

1. Your authorization and consent to electronic services.

By clicking "Accept" below to indicate your consent to the terms and conditions of this Electronic Services Agreement ("Agreement"), you're authorizing Franklin Templeton Investments (FTI), the Franklin Templeton Funds, the 529 College Savings Plans and their agents, to provide you with Electronic Services, which includes authorizing us to act on electronic instructions received in connection with our providing electronic access to your Account(s), including viewing your Account and conducting transactions. You are the only authorized user of the services under this Agreement.

2. Keep your security information confidential and enter your instructions accurately.

Your user name, password and other security information are confidential, so keep them secure. Also, please type carefully when using the Electronic Services because you are responsible for accurately entering all data to perform a transaction and for verifying all instructions and information. You agree that we do not have a duty to question information or instructions you give to us under this Agreement, and that we are entitled to treat as authorized, and act upon, any such information or instructions you submit to us. Provided that FTI follows reasonable security procedures and acts on information or instructions we reasonably believe are genuine, we will not be responsible for any expenses or losses that may occur from unauthorized requests.

3. Written Confirmations and receipts, and your obligations.

We'll send a written confirmation to your postal address of record (or to your email address if you are enrolled in our electronic delivery program) promptly after each electronic purchase, sale, or exchange request for your Account has been executed ("Confirmation"). There are a few exceptions: money fund transactions may be reported on your monthly Account statement, and automatic investment or withdrawal program transactions and dividends are reported on your quarterly Asset Summary Statements. (For these types of transactions, the Account statements legally serve as the written Confirmation.)

After you conduct an electronic transaction, you will receive an online verification and reference number—that number simply informs you that we have received your purchase, sale, or exchange request. That verification doesn't mean the purchase, sale or exchange request has been accepted or executed - only the Confirmation can tell you that. For other transaction requests, there will also be an online verification and reference number to let you know we received your request.

As part of our security procedures, we'll send you a written acknowledgement, either to your postal address of record or to the email address you've provided to us, after you initially register, change your PIN, change your address of record, or change other personal or financial information. You agree to be responsible for reviewing all of your FTI Account statements you receive in order to verify the accuracy of the information, including all electronic transactions. You also agree to notify us promptly of any errors, inaccuracies, or omissions in such FTI Account statements.

You further agree to contact us immediately if:

  • you didn't receive an online verification with reference number at the time you submitted your purchase, sale, or exchange request, or
  • you haven't received a written Confirmation within a reasonable time after your purchase, sale, or exchange request, or
  • the Confirmation doesn't match your records, or is for a purchase, sale, or exchange you didn't request, or
  • the acknowledgement doesn't match your records, or is for an action you didn't request, or
  • you believe someone has obtained unauthorized access to your Account, user name or password.

4. Other relevant conditions.

Your right to participate in the Electronic Services, particularly access to your Account, is subject to any terms, restrictions, policies, sales charges and fees in the prospectus and statement of additional information (as amended from time to time) for your fund or disclosure document (Investor Handbook) for your 529 College Savings Plan, your Account application, and our site's Terms of Use. Further, the Terms of Use that are posted on our website (as amended from time to time by posting changes on our website) are legally made a part of this Agreement (incorporated by reference). You also agree that before you purchase or exchange shares of any fund or 529 College Savings Plan, you will have received and read the current prospectus for the fund you are purchasing, the current prospectus for the funds you are exchanging out of and into, or the disclosure document (Investor Handbook) for the 529 College Savings Plan.

5. Privacy.

Consistent with our Privacy Policy, which may be posted on our site, or the privacy policies related to a 529 College Savings Plan, Franklin Templeton Investments might collect and store information gathered from your participation in the Electronic Services to improve your user experience, to evaluate the site's services and features, and/or as part of our security procedures.

6. No warranties.

WE TAKE ALL REASONABLE MEASURES TO ENSURE THE SITE, THE MATERIAL ON THE SITE AND THE ELECTRONIC SERVICES ARE AS ACCURATE AND TIMELY AS POSSIBLE AND THAT DISRUPTIONS OF SERVICE ARE MINIMAL. BUT FRANKLIN TEMPLETON INVESTMENTS MAKES NO WARRANTY OR GUARANTEE CONCERNING THE UNINTERRUPTED AVAILABILITY OF THE ELECTRONIC SERVICES, INCLUDING THIS SITE OR THE SERVICES OR INFORMATION ON IT. FRANKLIN TEMPLETON INVESTMENTS EXPRESSLY DISCLAIMS ANY AND ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. PARTICIPATING IN THE ELECTRONIC SERVICES INVOLVES SENDING AND RECEIVING PERSONAL FINANCIAL INFORMATION OVER THE INTERNET, AND POTENTIALLY OTHER ELECTRONIC NETWORKS AND THERE MAY BE CERTAIN ASSOCIATED RISKS. ON RARE OCCASIONS PROBLEMS MAY ARISE, SUCH AS EMAILS FAILING TO TRANSMIT, LINKS FAILING TO FUNCTION PROPERLY OR A SYSTEM FAILURE AT YOUR ELECTRONIC SERVICE PROVIDER. IT'S IMPORTANT THAT YOU MAKE SURE YOU'RE COMFORTABLE WITH THE EFFORTS OF FRANKLIN TEMPLETON INVESTMENTS TO SAFEGUARD YOUR ACCOUNT INFORMATION. HOWEVER, EVEN WITH THE SECURITY WE HAVE IN PLACE, FRANKLIN TEMPLETON INVESTMENTS CANNOT GUARANTEE THE CONFIDENTIALITY OF ANY INFORMATION TRANSMITTED OVER THE INTERNET OR OTHER ELECTRONIC NETWORKS. YOU ASSUME THE ENTIRE RISK RELATED TO YOUR PARTICIPATION IN THE ELECTRONIC SERVICES.

7. Limitation of liability.

In no event will Franklin Templeton Investments, the Franklin Templeton Funds, or a 529 College Savings Plan be liable to you for any special, direct, indirect, consequential or incidental damages even if you have advised them of such possibility. You acknowledge that this limitation of liability was a significant factor in Franklin Templeton's providing these services at no cost to you and therefore you agree to accept this allocation of risk between you and FTI.

8. No fees for site use.

Franklin Templeton Investments does not charge you any fees for participating in the Electronic Services, but you may incur internet access or other related charges from third parties, such as your electronic service provider.

9. Hardware and software needed.

To participate in the Electronic Services, including electronically accessing your account, you will need the computer hardware and software described in our site's Help area, including a printer with graphics capabilities. Some documents, such as fund prospectuses and reports, may be available online only in PDF ("Portable Document Format"). To view a PDF, you'll need Adobe Acrobat® Reader (version 6.0 or higher) which your browser may already provide or which you may download free from Adobe's website at www.adobe.com. If you need technical assistance, you may contact Shareholder Services at (800) 632-2301. Downloading speeds may vary depending on your Internet connection. Before agreeing to participate in the Electronic Services, you may first want to test your connection to our site and your viewing, downloading, or printing experience. By clicking "Accept," below, you represent that you have the necessary computer hardware and software to access your Account and to view, download and print any documents, information or services you elect to access under this Agreement. This representation will continue throughout the term of this Agreement, unless you notify us otherwise.

10. Not all accounts or all Franklin Templeton Funds can participate.

Depending on your specific situation, some exceptions to the Electronic Services may apply. For example, trust or business accounts or retirement plans for which FTI is not the trustee, sponsor or record keeper currently cannot electronically access their Accounts (although this may change).

11. Service or Agreement changes.

Franklin Templeton Investments may change the Electronic Services we offer on our website at any time and without prior notice. We may also amend the terms of this Agreement at any time without prior notice to you. All changes will be effective upon the posting of the revised Agreement.

12. Service or Agreement cancellation.

You may cancel your participation in the Electronic Services and revoke your agreement to these terms at any time, by clicking "Update My Profile" in the navigation bar and clicking the "Decline" button. 'Your cancellation will be effective within a reasonable period of time after we receive it. FTI may discontinue the Electronic Services we offer at any time and without prior notice. We may also cancel this Agreement, your access to our site, or your right to participate in the Electronic Services, in whole or in part, at any time without notice to you. You understand that this Agreement and your consent will be effective indefinitely, until you cancel it or until we cancel it.

13. Your authority to accept this Agreement.

You agree that you have full authority to accept this Agreement on behalf of each joint owner or tenant-in-common (or co-trustee) on your Account(s). You also agree that each joint owner or tenant-in-common (or co-trustee) has full authority to act individually in all matters relating to these Electronic Services. Liability on joint accounts shall be joint and several and shall be binding on each owner's heirs, successors and assigns.

14. Indemnification.

You agree to make Franklin Templeton Investments, the Franklin Templeton Funds, and the 529 College Savings Plans whole for any and all claims, losses, liabilities, and expenses (including attorneys' fees) arising from any use of these Electronic Services or your violation of this Agreement. These indemnification obligations will survive the termination of this Agreement.

15. Governing law.

If any provision of this Agreement is invalid or unenforceable under applicable law, the other provisions will remain in full force and effect. This Agreement will be governed and interpreted under applicable federal laws and the laws of the State of California without regard to its choice of law provisions.

16. Waivers and assignments.

We may waive any term of this Agreement at any time, but such waiver shall not be deemed a waiver of the term in the future. You may not assign this Agreement to anyone else. At our discretion, however, we may assign this Agreement or delegate its rights and responsibilities to any third party.

17. Defined names as used in this Agreement.

Each term below is a defined term for use in this Agreement, and it may be used collectively or individually as the context may require.

"Account(s)" refers to only those Franklin Templeton Funds, or 529 College Savings Plan account(s) registered under your social security number or linked to your Asset Summary Statement, including future accounts.

"Electronic Services" refers to the transmission of information through the franklintempleton.com website regarding Accounts for shares of certain Franklin Templeton Funds, 529 College Savings Plans, and information and instructions relating to such Accounts, as well as other general, financial and mutual fund information and services. Additional features may be made available on terms that modify or supplement this Agreement.

"Franklin Templeton" or "Franklin Templeton Investments (FTI)" means Franklin Templeton Distributors, Inc. and/or its affiliates that are the Franklin Templeton Investments corporate group of companies.

"Franklin Templeton Funds" means the investment companies advised or underwritten by Franklin Templeton Investments or its affiliates, and held out as related companies.

"529 College Savings Plans" means the Franklin Templeton 529 College Savings Plan and the NJBEST 529 College Savings Plan.

BY CLICKING "ACCEPT," YOU AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT AND AGREE TO PARTICIPATE IN THE ELECTRONIC SERVICES. YOU REPRESENT THAT YOU HAVE CAREFULLY READ AND UNDERSTAND THE ABOVE AGREEMENT.