Client’s User ID will be sent to Client via e-mail transmission. Robert W. Baird & Co. Incorporated (“Baird”) will send Client’s User ID
to the e-mail address on record at Baird. Client, by utilizing Baird Online, acknowledges that it is solely Client’s responsibility to
provide Baird with the e-mail address to which Client’s User ID will be delivered and to provide timely updates to Baird should Client’s
e-mail address change. Baird disclaims any liability arising from the electronic transmission of confidential information to Client,
including but not limited to, e-mail transmission. Transmission by electronic means, including e-mail, cannot be guaranteed to be secure,
timely or error-free. Client acknowledges and accepts that it is solely Client’s responsibility to take all necessary steps to maintain
the confidentiality of the User ID upon electronic receipt, and that if Client elects to disclose the User ID to third parties, the Client
accepts responsibility for all consequences, regardless of foreseeability, that result from such action.