Common use of Extension Trades Clause in Contracts

Extension Trades. From time to time a particular holding may be sold and a different issue purchased in its stead (an “extension trade”). An extension trade allows the seller to realize a gain on the issue being sold, while reinvesting the proceeds (ex the gain) into other paper. In such cases the gain, as measured by the excess of the sale price over the amortized cost of the holding being sold, shall be subject to the earnings sharing arrangement between JPMorgan and Lender as set out in the Bank compensation (or analogous) section of the Securities Lending Agreement to which these guidelines are annexed. By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇

Extension Trades. From time to time a particular holding may be sold and a different issue purchased in its stead (an “extension trade”). An extension trade allows the seller to realize a gain on the issue being sold, while reinvesting the proceeds (ex the gain) into other paper. In such cases the gainEach Lender should regularly analyze these guidelines to determine their continued appropriateness, as measured recognizing that all investments bear risk and that return of principal is not assured. Please indicate your acceptance of these guidelines by the excess of the sale price over the amortized cost of the holding being sold, shall be subject to the earnings sharing arrangement between JPMorgan and Lender as set out signing in the Bank compensation (or analogous) section of the Securities Lending Agreement to which these guidelines are annexed. By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇space provided below.

Extension Trades. From time to time a particular holding may be sold and a different issue purchased in its stead (an “extension trade”). An extension trade allows the seller to realize a gain on the issue being sold, while reinvesting the proceeds (ex the gain) into other paper. In such cases the gain, as measured by the excess of the sale price over the amortized cost of the holding being sold, shall be subject to the earnings sharing arrangement between JPMorgan and Lender as set out in the Bank compensation (or analogous) section of the Securities Lending Agreement to which these guidelines are annexed. By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ A. OBJECTIVE