SampleInvestmentPolicyStatement

ForIllustrativePurposesOnly

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Purpose ThepurposeofthisInvestmentPolicyStatement(IPS)istoassistusandouradvisersindocumenting, implementing,monitoring,andevaluatingourinvestmentportfolio.Inthisdocument,wedescribeour investmentobjective,risktoleranceandotherimportantfactorsusedtodevelopourinvestmentstrategy,our targetassetallocation,andcriteriausedtoselectandevaluateourchoseninvestmentmanagers. General Information ClientName ClientDateofBirth Employer CoClientName CoClientDateofBirth Employer CurrentInvestableAssets InvestmentAdviser JamesT.Client 1/1/1945 Retired JaneM.Client 1/1/1946 Retired $10,000,000 AltairAdvisersLLC

Investment Objective Growth:Theobjectiveistoachievealongterm,aftertaxandafterexpenseannualrateofreturnonthe portfoliothatisatleastthreepercentagepointsgreaterthantherateofinflationasmeasuredbytheU.S. ConsumerPriceIndex(CPI). Time Horizon Theseinvestmentguidelinesarebaseduponanoverallinvestmenttimehorizonofatleast5years;therefore, cyclicalmarketfluctuationswillbeviewedwiththatperspective.Werecognizethatinvestingisultimatelya longtermexerciseandthatshorttermreactionstomarketeventscanbecounterproductiveandharmfulto successfulinvesting.Webelievewehaveboththetemperamentandthefinancialwherewithaltorideout shorttermmarketactivityandultimatelycouldbenefitfromtherewardsthathavehistoricallyaccruedto longterminvestors. Cash Flow and Portfolio Withdrawals Veronicaiscurrentlyworkingandplanstocontinueworkingforthenextfewyears.Weexpectourcashflow needstobecoveredbysalary,otherinflowsandourliquidityreserve.Wehaveseparatecashreservesforour shorttermcashflowneedsanddonotanticipaterequiringanymajorwithdrawalsfromtheportfolioforthe foreseeablefuture. Income Taxes Ourinvestmentadviserandtherecommendedinvestmentmanagersshouldrecognizethatouraccountsare subjecttocurrentfederalandIllinoistaxation,(exceptourIRAsandotherqualifiedretirementaccounts).To theextentpossible,ouraccountsshouldbemanagedinamannerconsistentwithmaximizingthelongterm returnontheportfolioonanaftertaxbasis,recognizingthelongtermerodingeffectsofincomeandcapital gainstaxesonwealth.Weunderstandthatisitimportanttomonitoranddiscussourtaxsituationovertime withourtaxaccountantandinvestmentadviser.Anychangestoourtaxsituationmayresultinan adjustmenttoourportfoliotobettermaximizeitsaftertaxperformance.

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Risk Tolerance Werecognizethatachievingourinvestmentobjectives,inlightoftheuncertaintiesandcomplexitiesofthe capitalmarkets,willrequirethatsomeinvestmentriskbeincurred.Weunderstandthatthereisnosuch thingasariskfreeinvestmentandwecouldlosemoneyifthisinvestmentpolicyisimplemented.Several factorshavebeenconsideredindeterminingourabilitytowithstandshortandintermediatetermmarket priceandtotalreturnvolatility.Thesefactorsare: Losstolerance Wehavedefinedourrisktolerancetargetsasnot morethana5.0%chancethatourinvestment portfoliodescribedhereinwilldeclinebymorethan approximately5.2%inanyoneyear.However,we understandthatlossesinexcessof5.2%canoccur duringextreme,negativemarketconditions.Asan example,aportfoliowithanassetallocationsimilar toourslost23.4%during2008. Wewillmaintainaliquidityreserveinlowriskcash equivalentinvestments.Thispreventsusfrom liquidatingtheportfolioatinopportunetimesand providesapsychologicalsafetynet. Atleast10yearsexperiencewithstocks.

LiquidityReserve

Experiencewithhigherriskassetssuchascommon stock

Risk Allocation and Asset Allocation WeunderstandthatAltairassignseachassetclasstooneofthreebroadriskcategories:higherrisk,medium riskandlowerrisk.Theseclassificationsarebasedupontheriskofprincipalloss. Basedonourfinancialsituation,objectives,returnexpectations,risktoleranceandconstraints,ourstrategic (longterm)allocationandacceptablerangesofhigher,mediumandlowerriskinvestmentsaredetailedin thetablebelow: Risk Category Higher Risk Medium Risk Lower Risk FixedInc Hedged/Opp LargeCap AllCap SmallCap IntlEquity Commodities RealEstate HighYield Asset Class Strategic (Long-term) Target 50.0% 11.5% 4.0% 5.5% 14.0% 5.0% 10.0% 0.0% 20.0% 20.0% 30.0% 30.0% Range 38.0-62.5% 5.517.0% 2.06.0% 3.08.5% 7.021.0% 2.57.5% 5.015.0% 0.010.0% 10.0-30.0% 10.030.0% 18.0-42.0% 18.042.0%

Note:PleaseseeGlossarylaterinthisdocumentfordefinitions

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However,overtimethefinancialsituation,objectives,and/orrisktolerancemaychange,sothe appropriatenessoftheassetallocationstrategywillbereviewedatleastannually. Tactical Portfolio Positioning Ingeneral,theportfoliowillbeallocatedaccordingtothestrategic(longterm)assetallocation.However,the investmentmarketsarevolatileandexperienceperiodsofdislocationthatcanprovideopportunitiesto increasereturnand/orreduceriskbydepartingfromthestrategic(longterm)assetallocation.Fromtimeto timespecificassetclassesand/orstylesmay,inAltairsview,beundervalued(orlessrisky)implyingahigher expectedreturn,orovervalued(orriskier)implyingalowerexpectedreturn.Asaresult,Altairwillunderor overweightoneormoreofthethreeriskcategories(higher,mediumandlower)andthevariousassetclasses withineachriskcategorybaseduponitsanalysisoftheinvestmentmarkets.Thesetacticalshiftsarelimited totherangesforeachriskcategoryestablishedintheRiskAllocationandAssetAllocationsection. Specifically,Altairwilldivideeachriskcategoryrangeintothreeequalparts.Foranoverweight recommendation,thecurrenttargetallocationisthemidpointofthetop1/3oftherange,foraneutral recommendationthecurrenttargetallocationisthemidpointofthemiddle1/3oftherange(whichisalsoour strategic(longterm)target)andforanunderweightrecommendationthecurrenttargetallocationisthe midpointofthebottom1/3oftherange. Portfolio Rebalancing Marketforceswillshifttheweightingsofthethreeriskcategories(higher,mediumandlower)andthe variousassetclasseswithineachriskcategory.Ifnotcorrected,overtimetheportfolioscompositioncould materiallyvaryfromtheintendedassetallocationandthereforeresultinaportfoliothatistooriskyortoo conservative.Altairwillreviewandrebalanceatleastquarterly,whenactualriskcategoryweightingsvary significantlyfromthecurrenttargetweightings.Eachriskcategoryhasrangesthatdefinetheminimumand maximumportfolioweightings. Altairsportfoliomanagementmethodologyistodivideeachoftheserangesintothirds.Atanygiventime, thecurrenttargetallocationtoeachriskcategorywillbeinoneofthesethirdsdependinguponAltairs currentrecommendations.Foranoverweightrecommendationthetargetallocationisthemidpointofthetop 1/3oftherange,foraneutralrecommendationthetargetallocationisthemidpointofthemiddle1/3ofthe range(whichisalsothestrategicorlongtermtarget)andforanunderweightrecommendationthetarget allocationisthemidpointofthebottom1/3oftherange. Finally,therecanbecostsassociatedwithrebalancingtheportfolio,suchastransactioncostsandtaxes,and thatthesecostswillbeconsideredbyAltairbeforetheportfolioisrebalanced.Also,rebalancingactivities maybeconstrainedbytheilliquidinvestment(s)withintheportfolio. Portfolio Performance Expectations BasedonModernPortfolioTheory,ananalysisofhistoricaldata,andassumptionscontainedinAltairs modelingsoftware(maintainedbyIbbotsonAssociates,awhollyownedsubsidiaryofMorningstar,Inc.), Altairhasinformedusthatourportfolio,baseduponourstrategicassetallocation,isprojectedtoachievean annuallongtermaveragereturn(pretaxandpreexpense)of9.4%,withanannualstandarddeviation(risk) of9.5%.Werealizethatmarketperformancewillvaryanda9.4%pretaxandpreexpense)averagerateof returnmaynotbeachievedduringsomeoralltimeperiodsandthatwecouldlosemoney.Wealso understand,asdescribedwithintheTacticalPortfolioPositioningsection,ourportfoliowillnotalwaysbe allocatedexactlytoourstrategicassetallocation.Asaresult,thelongtermaverageannualreturnandrisk estimatesmaydifferbasedonouractualassetallocationatanygiventime.Ingeneral,theaverageannual marketreturnswillbeevaluatedoverperiodsofthreetofiveyears.Again,weunderstandthatthesereturns areillustrationsonlyandarenotpredictionsofhowanyspecificportfoliooranymanagersorfundsselected forourportfoliowillperform.

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Separate Account Managers Evaluation & Selection Process Altairconductsseparateaccountmanagerresearchusingaprocessthatisablendofqualitativeand quantitativeevaluationtechniquesresultinginalistofcandidateswhichAltairbelievessuitableforthe portfolio. CriteriaAltairconsidersatvariousstagesinthesearchinclude: Performancetrackrecord,forconsistencyandfrequencyofoutperformancerelativetoappropriate peersandbenchmark Appropriatereturngiventhelevelofrisk Assetsize,numberofsecurities,portfolioturnoverandstrategycapacity Organizationalstability,includingtheownershipstructureandcompensationprograms Sound,consistentandrepeatableinvestmentprocess Investmentprofessionalsexperienceintheindustryandtenurewiththefirm ExperiencewithtaxableclientsandwillingnesstonegotiatereducedfeesforAltairclients ResponsestoAltairsproprietaryquestionnaires Absenceofunfavorablepublicityormateriallitigation ReviewofFormADVforcompliancerecord Inpersonvisitstoconfirmtheabovecriteria Mutual Funds Evaluation & Selection Process Altairconductsmutualfundresearchusingaprocessthatisablendofqualitativeandquantitative evaluationtechniquesresultinginalistofcandidateswhichAltairbelievessuitablefortheportfolio. CriteriaAltairconsidersatvariousstagesinthesearchinclude:

Performancetrackrecord,forconsistencyandfrequencyofoutperformancerelativetoappropriate peersandbenchmark Appropriatereturngiventhelevelofrisk Assetsize,numberofsecurities,portfolioturnoverandstrategycapacity Organizationalstability,includingtheownershipstructureandcompensationprograms Sound,consistentandrepeatableinvestmentprocess Investmentprofessionalsexperienceintheindustryandtenurewiththefirm Abilityofthefundstoconstructandmaintainportfoliosinataxefficientmanner Coststructure,includingexpenseratios,brokeragecommissionsandinstitutionalpricing

Risk and Return Assumptions Asset Class

LargeCapEquity SmallCapEquity InternationalEquity FixedIncome HighYieldFixedIncome RealEstate Hedged/Opportunistic PrivateEquity Commodities

Pre-Tax Return (%)

11.66 14.33 12.50 4.65 7.33 12.64 10.20 21.48 12.76

Risk (% Standard Deviation)

20.31 28.71 26.46 7.38 12.63 18.43 6.90 31.10 21.46

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Performance Benchmarks Thematrixbelowillustratesthelongtermandshorttermbenchmarkstobeutilizedforeachassetclass withineachriskcategory.Thelongtermbenchmarkswillbeusedasthecomponentsofanytotalportfolio benchmarks. Higher Risk Assets
LargeCapCoreEquity LargeCapGrowthEquity LargeCapValueEquity SmallCapCoreEquity SmallCapGrowthEquity SmallCapValueEquity AllCapEquity AllCapGrowthEquity AllCapValueEquity InternationalEquity InternationalSmallCapEquity EmergingMarketsEquity RealEstate(REITs) GlobalRealEstate(REITs) InternationalRealEstate(REITs) Commodities HighYieldFixedIncome

Long-Term Benchmark
S&P500CompositeIndex S&P500CompositeIndex S&P500CompositeIndex Russell2000Index Russell2000Index Russell2000Index Russell3000Index Russell3000Index Russell3000Index MSCIEAFEIndex MSCIEAFESmallCapIndex MSCIEmergingMarketsIndex MorganStanleyREITIndex S&PDevelopedPropertyIndex S&PGlobalexU.S.PropertyIndex DowJonesUBSCommoditiesIndex BarclaysCapitalHighYieldIndex

Short-Term Benchmark
None Russell1000GrowthIndex Russell1000ValueIndex None Russell2000GrowthIndex Russell2000ValueIndex None Russell3000GrowthIndex Russell3000ValueIndex MSCIACWorldex.U.S.Index None None None None None None None

Medium Risk Assets

NonDirectionalFundofFunds DirectionalFundofFunds MultiAsset GlobalMultiAsset DiversifiedAlternatives HedgedEquity

Long-Term Benchmark
HFRIFundofFundsCompositeIndex HFRIFundofFundsStrategicIndex MultiAssetBenchmark* 60%MSCIACWorld/40%BarCap Agg DiversifiedAlternativesBenchmark** 60%S&P500CompositeIndex

Short-Term Benchmark
TBill(1Month)+5% None None None None None

Lower Risk Assets

TaxableFixedIncome MunicipalFixedIncome Cash

Long-Term Benchmark
BarclaysCapitalAggregateIndex BarclaysCapital110yearMunicipal Index CitiSB1MonthTBillIndex

Short-Term Benchmark
None BarclaysCapital10yearMunicipal Index None

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*MultiAssetBenchmarkconsistsof76%HFRXGlobalIndex,8%MSCIUSREITIndex,8%BarclaysCapitalHighYield Index,and8%DJUBSCommodityIndex. **DiversifiedAlternativesBenchmarkconsistsof70%HFRIFundofFundsCompositeIndex,10%MSCIU.S.REITIndex, 10%MSCIACWorldIndex,and10%DJAIGCommodityIndex.

Additional Information ThisIPSisbaseduponinformationthatwehavemadeavailabletoAltair.TheIPSispreparedforour confidentialuse.Weunderstandthatchangesinourfinancialsituationortheinvestmentmarketscouldcause certainportionsofthisIPStobeinapplicableorinappropriateinthefuture.Consequently,ifwehaveany changesinoursituation,weshouldreviewthepotentialimpactonourIPS.ChangesinourIPSmayrequire Altairtochangetheallocationofourassetsortheidentityofourinvestmentmanagers.

Weunderstandtheassetallocationsoftwareusedtoestimatecertainportfoliostatistics,mainlyriskand return,ismaintainedbyIbbotsonAssociates,awhollyownedsubsidiaryofMorningstar,Inc.Inaddition,we realizethereturns,standarddeviationsandcorrelationcoefficientsofthevariousassetclassesusedinthe programarebasedupondataprovidedbyIbbotsonAssociates.Weunderstandthesemeasurementsarenot intendedtoaccuratelypredictfutureinvestmentperformance,butareintendedtobeusedastoolstogauge ourtoleranceforvolatility.Accordingly,werecognizetheinformationcontainedinthisanalysisshouldbe viewedasanillustrationandnotasapredictionanddoesnotguaranteeresults.

ThisInvestmentPolicyStatementdoesnotincludespecificlegal,accounting,taxorotheradvice.

Finally,weunderstandthatthereisnosuchthingasariskfreeinvestmentandwecouldlosemoneyifthis investmentpolicyisimplemented.

Additional Risks Associated with Investments in Hedge Funds, Private Equity, and Private Real Estate LiquidityRisk:Wehaveadequatemeansofprovidingforcurrentandfuturecashflowneedsand havenoneedforliquiditywithrespecttoourinvestmentinhedgefunds,privateequityandprivate realestate.Altairhasexplainedthattheseinvestmentsareilliquidinterestsinprivatepartnerships andmaysubjectustocertainlockupperiodswherewemaynotbeabletoaccesssomeorallofthe fundswehaveinvestedinsuchvehicles(thespecificlockupperiodsarecontainedinthe subscriptiondocumentofeachinvestment)andthatAltaircannotcontrol(orinfluence)thelockup periodonanyoftheseinvestments. TransparencyRisk:Investmentsinhedgefunds,privateequityandprivaterealestateareoftenmade throughinvestmentinlimitedpartnerships.Theassetsofthepartnershiparenottransparentasis thecasewithtraditionalstocksandbonds.Transparencyinthissensereferstotheabilityofan investortolookdirectlyintoaninvestmentportfolioandseeallitscomponents,providingthe opportunitytoclearlygaugeperformanceandassessriskexposure. LackofMarketabilityRisk:Onceacommitmentismade,itcanbedifficultorimpossibletotransfer ownershipintheinvestmenttoanotherinvestor. Glossary GlobalEquitiesIncludes: LargeCapEquity ThisassetclassprimarilyconsistsofU.S.equitysecuritiessimilarinsizetothoseintheS&P500orRussell 1000indices,generallywithamarketcapitalizationof$2billionorgreater.Largecapportfoliosaretypically representativeoftheoverallU.S.equitymarketinsize,growthrates,andprice.Largecapequitymanagers maymanageassetstoindividualstylessuchasvalue,whichtargetsstockstradingbelowunderlyingbusiness value,orgrowth,whichtargetsstocksexhibitinghighgrowthprospectsrelativetothebroadermarket.

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SmallCapEquity ThisassetclassprimarilyconsistsofU.S.equitysecuritiessimilarinsizetothoseintheRussell2000index, generallywithamarketcapitalizationof$2billionorsmaller.Smallcapequitymanagersmaymanageassets toindividualstylessuchasvalue,whichtargetsstockstradingbelowunderlyingbusinessvalue,orgrowth, whichtargetsstocksexhibitinghighgrowthprospectsrelativetothebroadermarket. AllCapEquity ThisassetclassprimarilyconsistsofU.S.equitysecuritiesacrossboththelargeandsmallcapuniverses.All capmanagersinvestaccordingtoindividualstylesthataretypicallydifficulttocategorize.Allcapmanagers mayalsotakeadvantageofopportunitiesinforeignmarketsortacticallyholdsignificantamountsofcash. InternationalEquity ThisassetclassprimarilyconsistsofequitiessimilartothoseintheMSCIEAFEindex.Internationalequity managersinvestinequitiesrepresentingcompaniesheadquarteredindevelopedcountriesoutsideoftheU.S. (sometradeasAmericanDepositoryReceipts(ADRs)onU.S.exchanges),suchastheUnitedKingdom, Germany,France,Australia,andJapan.Managersmayalsoallocatetoemergingmarkets. InternationalSmallCapEquity ThisassetclassprimarilyconsistsofequitiessimilartothoseintheMSCIEAFESmallCapindex,generally withamarketcapitalizationof$2billionorsmaller.Internationalsmallcapequitymanagersinvestin equitiesrepresentingcompaniesheadquarteredindevelopedcountriesoutsideoftheU.S.(sometradeas AmericanDepositoryReceipts(ADRs)onU.S.exchanges),suchastheUnitedKingdom,Germany,France, Australia,andJapan.Managersmayalsoallocatetoemergingmarkets. EmergingMarketsEquity ThisassetclassprimarilyconsistsofequitiessimilartothoseintheMSCIEmergingMarketsindex.Managers investinequitiesrepresentingcompaniesheadquarteredinemergingmarkets(sometradeasAmerican DepositoryReceipts(ADRs)onU.S.exchanges),suchasBrazil,China,Russia,IndiaandSouthAfrica. PrivateEquity Thisassetclassconsistsofilliquidinvestmentsinprivatecompaniesthataregenerallydividedbetween ventureandbuyoutstrategies.Venturecapitalinvolvesinvestingdirectlyinfirmsthatrangefromstartups tofastgrowingsmallcompanies.Buyoutsutilizeleveragetobuyacontrollinginterestinanestablished business,recapitalizeabusiness,ortakeapubliccompanyprivate. RealEstateIncludes: RealEstateInvestmentTrusts(REITs) Thisassetclassprimarilyconsistsofequitysecuritiesinpubliclytradedcompanieswhoseprimarybusinessis ownershipandoperationofcommercialrealestate,similartothoseintheMorganStanleyREITIndexforUS REITSandtheS&P/CitiGlobalexU.S.PropertyIndexforthoselocatedoutsidetheUnitedStates. PrivateRealEstate Thisassetclassconsistsofilliquidinvestmentsinpartnershipsthatdirectlyinvestinprivatelyowned commercialrealestate. Commodities Realorhardassetsthataregenerallytherawmaterialsintheproductionprocess,includingenergy,livestock, grainsandmetals.

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FixedIncomeIncludes: Taxable ThisassetclassprimarilyconsistsofinvestmentgradefixedincomesecuritiessimilartothoseintheBarclays CapitalU.S.AggregateBondindex.Managersinvestinsecuritiesthatarenotexemptfromfederaltaxation, suchassecuritiesissuedbycorporations,federalgovernments,andgovernmentagencies.Managerportfolio durationistypicallythreetosevenyears. Municipal ThisassetclassprimarilyconsistsofinvestmentgradefixedincomesecuritiessimilartothoseintheBarclays Capital110YearMunicipalBondindex.Managersinvestinsecuritiesthatareexemptfromfederaltaxation, suchasthoseissuedbystateandlocalgovernments.Managerportfoliodurationistypicallythreetoseven years. HighYieldFixedIncome ThisassetclassprimarilyconsistsofU.S.noninvestmentgrade(creditratingbelowBBB)fixedincome securitiessimilartothoseintheBarclaysCapitalHighYieldindex.Bondsinthiscategorygenerallyhave higheryieldsbecausetheissuingcompaniesarelessfinanciallysecureandmustpayhigherratesthanmore creditworthyborrowers. Hedged/OpportunisticIncludes: FundofHedgeFundsDirectionalandNonDirectional Thisassetclassconsistsofdiversifiedpartnershipsinvestinginunderlyinghedgefundsthatattemptto generatepositivereturnsirrespectiveoftheoverallmarketdirectionandhavetheflexibilitytofollowawide rangeofinvestmentstrategies.Hedgefundmanagersoftenutilizeavarietyoffinancialinstruments(options, ETFs,swaps,futures,etc.)whereastraditionalmanagersuseequityandfixedincomesecurities.Hedgefunds havetheabilitytobuysecurities,whichwouldincreaseportfolioreturnswithariseinthesecurityprice,and shortsellsecurities,whichwouldincreaseportfolioreturnswithafallinthesecurityprice.Hedgefunds oftenalsouseleveragetoenhancereturns,whichincreasestheportfolioriskprofile.Commonhedgefund strategiesincludedirectionalequitylong/short,marketneutrallong/short,eventdriven,convertiblearbitrage, mergerarbitrage,andglobalmacro. HedgedEquity/MultiAsset/GlobalMultiAsset/DiversifiedAlternativeInvestments Thisassetclassconsistsofinvestmentsthatattempttogeneratepositivereturnsirrespectiveoftheoverall marketdirectionandhavetheflexibilitytofollowawiderangeofinvestmentstrategies.Theseinvestments maybeintheformoflimitedpartnerships,separateaccounts,ormutualfunds.Managersofferdiversified vehicleswithexposureacrosstraditionalandnontraditionalassetclasses,whichmayincludehighyield fixedincome,privateequity,realestate,andcommodities.Likehedgefunds,managersutilizeavarietyof financialinstruments,canbuyandshortsellsecurities,andcanemployleverage.Commonstrategiesinclude directionalequitylong/short,marketneutrallong/short,eventdriven,convertiblearbitrage,mergerarbitrage, andglobalmacro. CashEquivalents Fixedincomesecuritiesormoneymarketswithmaturitiesoflessthan90dayswithinvestmentgradecredit ratingsthatareveryliquid.Thiscategorymayalsoincludebankdeposits. ConsumerPriceIndex(CPI) Anonseasonallyadjustedmeasureoftheaveragechangeovertimeinthepricespaidbyallurbanconsumers foramarketbasketofconsumergoodsandservicesarrangedinthefollowingcategories:food,housing,

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apparel,transportation,medicalcare,recreation,education,andothergoodsandservices.Theindexisalso knownasheadlineinflationandincludesthepricechangesoffoodandenergy.Theindexusesasabasethe averagepricelevelofthatbasketofconsumergoodsandservicesforthe36monthperiodfrom1982to1984. LongTermandShortTermBenchmarks Theprimaryandsecondarybenchmarksrespectivelyusedtomeasuremanagerperformance.Forexample, thelongterm(primary)benchmarkforanyUSlargecapmanageristheS&P500Index,whiletheshortterm (secondary)benchmarkisbaseduponthemanagersstyle(i.e.Russell1000GrowthIndexforagrowthstyle orRussell1000ValueIndexforavaluestyle).Someassetclassesandmanagersonlyhavealongterm (primary)benchmark. Client Responsibilities Wewillmeetwithourinvestmentadviser,Altair,atleastannuallytoconfirmtheaccuracyand appropriatenessofthisIPSandAltairsimplementationofthisIPS. WewillprovideAltairinformationnecessarytoupdatethisIPS,including: Anychangestoourprojectedcashflow,portfoliowithdrawalrequirements,ortaxsituation; Anychangesinrisktoleranceorinvestmentconstraints; Anysignificantchangetoournetworth.

WehavereviewedandunderstandthisIPSandconfirmthatitisasuitableapproach givenourfinancialsituation,objectives,returnexpectations,andrisktolerance.
James T. Client Date Jane M. Client Date