Commission Rates

Schedule Effective Date: February 1, 2009

Equities - Online or by Phone Options - Online or by Phone Fixed Income & Money Market Exchange-Traded Debentures

Mutual Funds Gold & Silver Certificates Foreign Currency Transactions Interest Rates

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Edge Advantage™
Canadian and U.S. Equity and Option Trades ONLY

Initial Fee: $395 per calendar year* per account

Trade Package: 50 equity and/or option trades (fee of $1.25 per option contract will also apply)

Additional Trades: $6.95 per equity/option trade (fee of $1.25 per option contract will also apply)

Standard Pricing

Market Orders CDN and U.S. Equities - Purchase and Sale Up to 1000 shares $28.95 (CDN or U.S.) per trade Greater than 1000 shares Stock Price Commission $0.00 – $2.00 1.5% of principal $2.01 and over 3.0 cents per share Minimum commission of $28.95 (CDN or U.S.) applies to all trades with a principal value of less than $2,000. *

Non-Market Orders CDN and U.S. Equities - Purchase and Sale Up to 1000 shares $28.95 (CDN or U.S.) per trade Greater than 1000 shares Stock Price Commission $0.00 – $2.00 1.5% of principal $2.01 and over 3.0 cents per share Minimum commission of $28.95 (CDN or U.S.) applies to all trades with a principal value of less than $2,000. *

*The minimum commission is charged against each trade. Trades with a principal value of less than $2,000 will be charged the minimum commission only. Full commissions and fees apply for each partial fill, except when transacted within the same business day. Commission charges will be consolidated when multiple orders of the same type (buy vs. sell) are executed for the same security, within the same day, on the same exchange and in the same currency. Transactions of principal value over $250,000 are negotiable for both Canadian and U.S. equities.

Canadian Equities Purchase and Sale Stock Price Commission $0.00 – $0.245 2.50% $0.25 – $1.00 $35 + 1/2 cent per share $1.01 – $2.00 $35 + 2 cents per share $2.01 – $5.00 $35 + 3 cents per share $5.01 – $10.00 $35 + 4 cents per share $10.01 – $20.00 $35 + 5 cents per share $20.01 and over $35 + 6 cents per share

U.S. Equities Purchase and Sale Stock Price Commission $0.00 – $0.245 3.00% $0.25 – $1.00 $39 + 2 cents per share $1.01 – $2.00 $39 + 3 cents per share $2.01 – $5.00 $39 + 4 cents per share $5.01 – $10.00 $39 + 5 cents per share $10.01 – $20.00 $39 + 6 cents per share $20.01 – $30.00 $39 + 7 cents per share $30.01 and over $39 + 8 cents per share

A minimum commission of $50 applies to CDN and U.S. orders placed with an Investment Representative over the phone. The minimum commission is charged against each trade. Trades with a principal value of less than $2,000 will be charged the minimum commission only. Full commissions and fees apply for each partial fill, except when transacted within the same business day. Commission charges will be consolidated when multiple orders of the same type (buy vs. sell) are executed for the same security, within the same day, on the same exchange and in the same currency. Transactions of principal value over $250,000 are negotiable for both Canadian and U.S. equities.

Options Purchase and Sale through our Internet website Option Price Commission $0.00 – $2.00 $28 + $1.20 per contract $2.01 – $3.00 $28 + $1.60 per contract $3.01 – $4.00 $28 + $2.00 per contract $4.01 – $5.00 $28 + $2.40 per contract $5.01 and over $28 + $2.80 per contract U.S. commissions are in U.S. dollars. For assignments and exercises, the regular equity commission schedules apply.

Options Purchase and Sale through an Investment Representative Option Price Commission $0.00 – $2.00 $35 + $1.50 per contract $2.01 – $3.00 $35 + $2.00 per contract $3.01 – $4.00 $35 + $2.50 per contract $4.01 – $5.00 $35 + $3.00 per contract $5.01 and over $35 + $3.50 per contract U.S. commissions are in U.S. dollars. For assignments and exercises, the regular equity commission schedules apply.

Gold and Silver Certificates Purchase and Sale Purchase Amount Charge Up to $20,000 $40 + 0.250% of trade value Next $80,000 $40 + 0.125% of trade value Assets over $100,000 $40 + 0.105% of trade value Note: Certain gold and silver certificates are now available for registered accounts. Precious metal certificates are subject to safekeeping fees charged by the issuer.

Exchange-Traded Debentures   Purchase Amount Charge Up to $49,000 $40 + $1.50 per $1,000   $50,000 and over $40 + $1.00 per $1,000

Mutual Funds Type of Fund Buy Sell Switch 1 CIBC No Load Funds No charge No charge No charge All other No Load Funds No charge No charge No charge Front-End Load Funds No charge No charge No charge Back-End Load Funds No charge No charge No charge 1Switch orders are only permitted within the same family of funds and within the same load class, on the same day. Note: These fees are in addition to charges applied by the fund company, such as early redemption fees or deferred sales charges on back-end load funds. Mutual funds may charge fees with respect to short-term trading. These fees may vary, but will often be a fee of up to 2% of the amount you redeem, if you redeem mutual fund securities within 90 days of purchase. Please read the applicable prospectus. With the exception of CIBC funds, there is a $1,000 minimum initial investment for all mutual fund orders (unless a higher minimum is set by the mutual fund company). For CIBC mutual fund orders, the minimum investment is $500.

Fixed Income & Money Market Investments – Purchase and Sale

Minimum purchase amounts vary by security.

Foreign Equities – Purchase and Sale

Trades made on exchanges outside North America are subject to different charges. Please call an Investment Representative for more details.

Principal Transactions

For principal transactions, which may include transactions in fixed income or equity securities, or certain market-linked investments, the price includes a spread (i.e., the difference between the bid and offer prices on the security for the applicable marketplace). This spread will differ based upon various factors such as the nature and liquidity of the security. We or our affiliates, will generally benefit from executing principal transactions as a result of the spread and may also gain or lose as a result of changes in the prices of securities held for our own account before sale to, or after purchase from, clients. For agency transactions, which typically involve options, equity securities or certain market-linked investments, commissions are charged to clients.

Foreign Currency Transactions

If you make a trade involving a security which is denominated in a currency other than the currency of the account in which the trade is to settle, a conversion of currency may be required. In all such transactions and at any time a conversion of currency is made, we will act as principal with you in converting the currency at rates established or determined by us or parties related to us. We and the parties related to us may earn revenue, in addition to the commission applicable to such a trade, based on the difference between the applicable bid and ask rates for the currency and the rate at which the rate is offset either internally with a related third party or in the market. Conversion of currency if required, will take place at the trade date unless otherwise agreed.

Interest rates paid on cash balances or charged on debit balances in your CIBC Investor's Edge account are subject to change without notice.

Interest paid or charged on accounts are subject to minimum dollar amounts. Please call a CIBC Investor Services Investment Representative for more details.

*Initial fee and trade allotment is prorated based on client's calendar date of enrolment in Edge Advantage.

All fees are in Canadian funds.

The Edge Advantage pricing offer is only applicable to trades placed electronically via the CIBC Investor's Edge website or through our automated touch tone telephone service, or any trades that cannot be placed online. Full commissions and fees apply to all live trades placed through a CIBC Investor's Edge Investment Representative, with some exceptions.

Edge Advantage fees are non-refundable, with the exception of a 10-day retraction period upon enrolment for clients outside the province of Quebec. See Edge Advantage Terms & Conditions for details.

Clients will be automatically re-enrolled in Edge Advantage each subsequent year, on the first business day of January, unless CIBC Investor's Edge is otherwise notified by the client in advance that the client does not wish to participate.

Any trades not used by the end of the calendar year will be considered forfeited.

See Edge Advantage Terms & Conditions for full conditions of the offer. A copy of the Terms and Conditions is available upon request.

The information contained herein is considered accurate at the time of posting. CIBC, CIBC World Markets Inc. and CIBC Investor Services Inc. reserve the right to change any of it without prior notice. It is for general information purposes only. Clients are advised to seek advice regarding their particular circumstances from their personal tax advisors.

CIBC Investor's Edge is the discount brokerage division of CIBC Investor Services Inc., member CIPF. CIBC Investor Services Inc. does not provide you with any legal, tax, or accounting advice or advice regarding the suitability or profitability of a security or investment in a CIBC Investor's Edge account. You assume full responsibility for transactions in your CIBC Investor's Edge account and for your investment decisions.

The information on this Web site is general only; it is not intended as specific investment, financial, accounting, legal or tax advice for any individual, and you should not rely on it as such.