Disclaimer

In order to meet compliance requirements of the United States Securities Act of 1933, as amended, and CFTC Regulation 4.7, access to this website may only be provided to “accredited investors” and “qualified eligible persons”.

By adding a check mark to the box 'I Meet the eligibility criteria in the Disclaimer above', the user represents that he or she is an investment professional or investor that meets the necessary regulatory requirements.

By clicking the box ‘I Accept’, you agree to the Terms And Conditions Of Use

Please peruse the paragraphs below to verify whether you are an “accredited investor” and a “qualified eligible investor”, or a “Non-US Person”.

Accredited Investor Status:

• any individual with sophisticated experience in financial and business matters, and whose own net worth, taken together with the net worth of his spouse, exceeds $1,000,000, including a Self-Directed Individual Retirement Plan (IRA).

• any individual with sophisticated experience in financial and business matters, who had an individual income in excess of $200,000 in each of the two previous years, or joint income with my spouse in excess of $300,000 in each of those years, and who reasonably expects to reach the same income level in the current year, including a Self-Directed Individual Retirement Plan (IRA).

• any bank as defined in Section 3(a)(2) of the Act (whether acting in its fiduciary capacity or individual capacity).

• any insurance company as defined in Section 2(13) of the Act.

• any investment company registered under the Investment Company Act of 1940.

• any business development company as defined in Section 2(a)(48) of the Investment Company Act of 1940.

• any Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958.

• any employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, and (i) the investment decision with respect to this investment is being made by a plan fiduciary, as defined in Section 3(21) of such act, which is either a bank, insurance company or registered investment adviser or (ii) it has total assets in excess of $5,000,000.

• any private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.

• any tax-exempt organization described in Section 501(c)(3) of the Code with total assets in excess of $5,000,000.

• any broker dealer registered with the Securities & Exchange Commission.

• any trust, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000 and whose purchase is directed by a sophisticated person.

• any entity whose equity owners (limited partners in the case of a limited partnership) are accredited investors.

Non-US Citizens/Non-US Residents

• I certify that I am neither a citizen nor a resident of the United States of America. I also certify that these securities exempt from registration in the US will not be and cannot be resold in the US or to a US citizen.

Non-US Entity

• The entity is both organized and operated from outside the United States of America with no US residents or citizens as shareholders or partners. The entity certifies that these securities exempt from registration in the US will not be and cannot be resold in the US or to a US citizen.

Qualified Eligible Person Status

A person or entity is considered to be a qualified eligible person (“QEP”) pursuant to Commodity Futures Trading Commission Regulation 4.7 if the following criteria under eitherCategory I QEP or Category II QEP are met. Please check those that apply.

Category I QEP

• A “qualified purchaser” as defined in section 2(a)(51)(A) of the Investment Company Act of 1940 (the “Investment Company Act”).

• A registered futures commission merchant.

• A registered broker-dealer.

• A registered CPO who has been registered and active as such for two years or who operates pools which, in the aggregate, have total assets in excess of $5,000,000.

• A registered CTA who has been registered and active as such for two years or who provides commodity trading advice to accounts which, in the aggregate, have total assets in excess of $5,000,000.

• A registered investment adviser who has been registered and active as such for two years or who provides securities investment advice to securities accounts which, in the aggregate, have total assets in excess of $5,000,000 deposited at one or more registered securities brokers.

• A commodity pool operator, commodity trading advisor, or investment adviser of an exempt pool; Or I am a principal of the CPO, CTA or IA; Or I am an employee of the CPO, CTA, or IA that is other than a clerical, administrative or secretarial employee, and who participated in the investment activities of the CPO, CTA or IA for at least 12 months.

• An employee of, or an agent engaged to perform legal, accounting, auditing or other financial services for, the exempt pool or the commodity pool operator or commodity trading advisor (other than an employee or agent performing solely clerical, secretarial or administrative functions with regard to such person or its investments); and, I am an accredited investor and I have been employed or engaged by the exempt pool, commodity pool operator or commodity trading advisor for at least 24 months.

• An entity as to which a notice of eligibility has been filed pursuant to CFTC Regulation 4.5 and which is operated in accordance with such rule and in which all unit owners or participants, other than the commodity trading advisor claiming relief, are QEPs.

OR

Category II QEP

There are two situations under this Category II QEP: Situation One or Situation Two (Non-US Person).

Situation One:

note: requires any of the 3 paragraphs below and any of the subsequent 12 paragraphs

• Owns securities (including pool participations) of issuers not affiliated with such participant and other investments with an aggregate market value of at least $2,000,000.

• Has or has had on deposit with a futures commission merchant, for my own account at some time during the six-month period preceding the date of this sale in the exempt pool, at least $200,000 in exchange-specified initial margin and option premiums for commodity interest transactions.

• Owns a portfolio comprised of a combination of the funds or property specified in the two paragraphs immediately preceding this paragraph in which the sum of the funds or property equals at least one hundred percent, each expressed as a percentage of the minimum amount required thereunder. (An example of a composite portfolio would be $1,000,000 in securities and $100,000 in exchange specified initial margin).

AND IS

• an investment company (i.e., mutual fund) registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act not formed for the specific purpose of investing in the exempt pool.

• a bank as defined in Section 3(a)(2) of the Securities Act of 1933 (the “Securities Act”), or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act acting for my own account or for the account of a qualified eligible participant.

• an insurance company as defined in Section 2(13) of the Securities Act acting for my own account or for the account of a qualified eligible participant.

• a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000.

• an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, and the investment decisions are made by a plan fiduciary, as defined in Section 3(21) of such Act, which is a bank, a savings and loan association, an insurance company, or a registered investment adviser; or that the employee benefit plan has total assets in excess of $5,000.000; or, if the plan is self-directed, that investment decisions for, or the decisions as to the types of investment alternatives under, the plan are made solely by persons that are qualified participants.

• a private business development company as defined in Section 202(a)(22) of the investment Advisers Act of 1940.

• an organization described in Section 501(c)(3) of the Internal Revenue Code, with total asset in excess of $5,000,000 (e.g., charitable organization, foundation, etc.).

• a corporation, Massachusetts or similar business trust, or partnership, other than a pool, which has total assets in excess of $5,000,000 and is not formed for the specific purpose of participating in the exempt pool.

• a natural person whose individual net worth, or joint net worth with my spouse, at the time of purchase in the exempt pool exceeds $1,000,000.

• a natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with my spouse in excess of $300,000 in each of the two most recent years and has a reasonable expectation of reaching the same income level in the current year.

• a pool, trust, insurance company separate account or bank collective trust, with total assets in excess of $5,000,000, not formed for the specific purpose of participating in the exempt pool, and whose participation in the exempt pool is directed by a qualified eligible participant; Provided, that except where the pool, trust, insurance company separate account or bank collective trust would constitute a qualified eligible participant under Situation Three below, no more than 10 percent of the fair market value of the assets of such entity are used to purchase units in exempt pools.

• any entity in which all of the unit owners or participants are persons that meet any of the criteria listed under Situation One above.

Situation Two:

• not a United States Person for purposes of CFTC Rule 4.7. For the purposes of this paragraph, the term “United States” means Unites States, its states, territories or possessions, or an enclave of the United States government, its agencies or instrumentalities. The following persons are not considered to be “United State persons”:

a. A natural person who is not a resident of the United States,

b. A partnership, corporation or other entity, other than an entity organized principally for passive investment, organized under the laws of a foreign jurisdiction and which has its principal place of business in a foreign jurisdiction,

c. An estate or trust, the income of which is not subject to United States income tax regardless of source,

d. An entity organized principally for passive investment such as a pool, investment company or other similar entity Provided, that units of participation in the entity held by United States persons represent in the aggregate less than 10% of the beneficial interest in the entity, and that such entity was not formed principally for the purpose of facilitating investment by United States persons in a pool with respect to which the operator is exempt from certain requirements of Part 4 of the Commission’s regulations by virtue of its participants being non-United States persons,

e. A pension plan for the employees, officers, or principals of an entity organized and with its principal place of business outside the United States.