The buyer of one (1) Binary Put Option shall receive one thousand dollars ($1,000.00) if the outcome applicable to such Binary Put Option is less than the contract striking level set at the time the contract was purchased, and shall receive zero dollars ($0.00) otherwise.  The seller of one (1) Binary Put Option shall incur the obligation of paying one thousand dollars ($1,000.00) if the outcome applicable to such Binary Put Option is less than the contract striking level set at the time the contract was sold, and the obligation of paying zero dollars ($0.00) otherwise.  (07/12/06)