CDP reserves the right in its absolute discretion to amend these DVP Rules at any time. Such amendment shall become effective on such date as may be specified in the written notice to be given to the Participant. The Participant shall be deemed, by continuing to participate in DVP Settlement at the time the amendment takes effect, to consent to and agree to be bound by the DVP Rules as amended.

The Participant will be bound by any amendment to these DVP Rules with respect to any transaction occurring subsequent to the time such amendment takes effect as fully as though such amendment were now a part of these DVP Rules, provided, however, that no such amendment shall affect the Participant's rights to cease to be a Participant.