Common use of Section or Paragraph Headings Clause in Contracts

Section or Paragraph Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement. By each party executing this Agreement they acknowledge and accept their respective rights, duties, and responsibilities hereunder. This Agreement is only effective upon our execution below. Client name(s): Client signature(s): Date: Elm Partners Management LLC: Date: EXHIBIT A: FACTORS AFFECTING OUR RECOMMENDATION OF FIDELITY OR SCHWAB AS CUSTODIAN AND BROKER-DEALER AND POTENTIAL CONFLICTS OF INTEREST We seek to recommend a custodian and broker-dealer who will hold your assets and execute transactions on terms that are overall most advantageous by considering a wide range of factors including: • combination of transaction execution services along with asset custody services (generally without a separate fee for custody) • capability to execute, clear and settle trades • provide pricing and other market data • facilitate payment of our fees from our clients’ accounts, and • assist with back-office functions, record-keeping and client reporting. Additionally, Fidelity and Schwab provide their own, as well as third party, investment research. • capabilities to facilitate transfers and payments to and from accounts • breadth of investment products made available • availability of investment research and tools that assist us in making investment decisions • quality of services • competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate them • reputation, financial strength and stability • prior service to us and our other clients • availability of other products and services (see below) Products and Services Available to Us from Fidelity and Schwab. Fidelity and Schwab have divisions which serve independent investment advisory firms like us. They provide us and our clients with access to its institutional brokerage – trading, custody, reporting and related services – which is not typically available to retail customers. They also make available various support services. Some of those services help us manage or administer our clients’ Accounts while others help us manage and grow our business. Services that Benefit You. Fidelity and Xxxxxx’x institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of client assets. Services that May Not Directly Benefit You. Fidelity and Schwab also make available to us other products and services that benefit us but may not directly benefit you. These products and services assist us in managing and administering our clients’ accounts. In particular, they make available software and other technology that: • provide access to client account data • facilitate trade execution and allocate aggregated trade orders for multiple client accounts Services that Generally Benefit Only Us. Fidelity and Schwab also offer other services intended to help us manage and further develop our business enterprise, including: • educational conferences and events • technology, compliance, legal, and business consulting • access to employee benefits providers, human capital consultants and insurance providers. They may provide some of these services directly or arrange for third-party vendors to provide the services to us. They may also discount or waive its fees for some of these services or pay all or a part of a third party’s fees. They may also provide us with other benefits such as occasional business entertainment of our personnel. We don’t have to pay for Fidelity or Xxxxxx’x services, and this may be contingent on keeping a minimum amount of client assets with the Custodian. This minimum amount may give us an incentive to require that you maintain your account with Fidelity or Schwab based on our interest in receiving their services that benefit our business rather than based on your interest in receiving the best value in custody services and the most favorable execution of your transactions. This is a potential conflict of interest. We believe, however, that our selection of Fidelity and Schwab as custodians and brokers is in the best interests of our clients. It is primarily supported by the scope, quality and price of their services. EXHIBIT B: AVERAGING PROGRAM Clients utilizing the optional Averaging Program wish to have funds in their account invested in Elm’s core asset allocation in discreet amounts over a period of time (“averaging-in”) rather than all at once. Prior to beginning an Averaging Program, you would provide Elm the following information: - Total amount of funds to be invested through the Averaging Program (“Total Program Amount”) - Amount to be allocated at each rebalancing (“Base Amount”) - Reference index (if desired) o Base level for the reference index o Speed multiplier Case 1 – No Reference Index: If no reference index is provided, upon each portfolio rebalancing date an amount equal to the Base Amount will be invested according to Xxx’s target asset allocation. However, the total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Case 2 – Reference Index: If a reference index is provided, funds will be invested as in Case 1, however the amount of funds invested in Elm’s asset allocation upon each rebalancing will be adjusted by an amount equal to 1 + M*(S0 / St – 1), where S0 is the chosen reference index level, St, is the reference index at the time of the rebalancing, and M is the chosen Speed Multiplier. The total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Funds which are in your account but which are not yet invested in Elm’s core asset allocation (“Non-Allocated Assets”) will be held in a mix of short-term fixed-income ETFs and index funds with a weighted-average duration of approximately 1 year. The balance of the account (“Allocated Assets”) will be invested in Elm’s core asset allocation. EXHIBIT C: CLIENT PROFILE

Section or Paragraph Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement. By each party executing this Agreement they acknowledge and accept their respective rights, duties, and responsibilities hereunder. This Agreement is only effective upon our execution below. Client name(s): Client signature(s): Date: Elm Partners Management LLC: Date: EXHIBIT A: FACTORS AFFECTING OUR RECOMMENDATION OF FIDELITY OR SCHWAB AS CUSTODIAN AND BROKER-DEALER AND POTENTIAL CONFLICTS OF INTEREST We seek to recommend a custodian and broker-dealer who will hold your assets and execute transactions on terms that are overall most advantageous by considering a wide range of factors including: • combination of transaction execution services along with asset custody services (generally without a separate fee for custody) • capability to execute, clear and settle trades • capabilities to facilitate transfers and payments to and from accounts • breadth of investment products made available • provide access to client account data • facilitate trade execution and allocate aggregated trade orders for multiple client accounts • provide pricing and other market data • facilitate payment of our fees from our clients’ accounts, and • assist with back-office functions, record-keeping and client reporting. Additionally, Fidelity and Schwab provide their provides its own, as well as third party, investment research. • capabilities to facilitate transfers and payments to and from accounts • breadth of investment products made available • availability of investment research and tools that assist us in making investment decisions • quality of services • competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate them • reputation, financial strength and stability • prior service to us and our other clients • availability of other products and services (see below) Products and Services Available to Us from Fidelity and SchwabFidelity. Fidelity and Schwab have divisions which serve Brokerage Services LLC serves independent investment advisory firms like us. They provide us and our clients with access to its institutional brokerage – trading, custody, reporting and related services – which is not typically available to Fidelity retail customers. They Fidelity also make makes available various support services. Some of those services help us manage or administer our clients’ Accounts while others help us manage and grow our business. Services that Benefit You. Fidelity and Xxxxxx’x Fidelity’s institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of client assets. The investment products available through Fidelity include some to which we might not otherwise have access or that would require a significantly higher minimum investment by our clients. Services that May Not Directly Benefit You. Fidelity and Schwab also make makes available to us other products and services that benefit us but may not directly benefit you. These products and services assist us in managing and administering our clients’ accounts. In particular, they make Fidelity makes available software and other technology that: • provide access to client account data • facilitate trade execution and allocate aggregated trade orders for multiple client accounts Services that Generally Benefit Only Us. Fidelity and Schwab also offer offers other services intended to help us manage and further develop our business enterprise, including: • educational conferences and events • technology, compliance, legal, and business consulting • access to employee benefits providers, human capital consultants and insurance providers. They Fidelity may provide some of these services directly itself or arrange for third-party vendors to provide the services to us. They Fidelity may also discount or waive its fees for some of these services or pay all or a part of a third party’s fees. They Fidelity may also provide us with other benefits such as occasional business entertainment of our personnel. We don’t have to pay for Fidelity or Xxxxxx’x services, and this may be contingent on keeping Fidelity’s services so long as we keep a minimum amount of client assets with the Custodianin accounts at Fidelity. This minimum amount may give us an incentive to require that you maintain your account with Fidelity or Schwab based on our interest in receiving their Fidelity’s services that benefit our business rather than based on your interest in receiving the best value in custody services and the most favorable execution of your transactions. This is a potential conflict of interest. We believe, however, that our selection of Fidelity as custodian and Schwab as custodians and brokers broker is in the best interests of our clients. It is primarily supported by the scope, quality and price of their Fidelity’s services. EXHIBIT B: AVERAGING PROGRAM Clients utilizing the optional Averaging Program wish to have funds in their account invested in Elm’s core asset allocation in discreet amounts over a period of time (“averaging-in”) rather than all at once. Prior to beginning an Averaging Program, you would provide Elm the following information: - Total amount of funds to be invested through the Averaging Program (“Total Program Amount”) - Amount to be allocated at each rebalancing (“Base Amount”) - Reference index (if desired) o Base level for the reference index o Speed multiplier Case 1 – No Reference Index: If no reference index is provided, upon each portfolio rebalancing date (approximately every 40 days) an amount equal to the Base Amount will be invested according to XxxElm’s target asset allocation. However, the total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Case 2 – Reference Index: If a reference index is provided, funds will be invested as in Case 1, however the amount of funds invested in Elm’s asset allocation upon each rebalancing will be adjusted by an amount equal to 1 + M*(S0 / St – 1), where S0 is the chosen reference index level, St, is the reference index at the time of the rebalancing, and M is the chosen Speed Multiplier. The total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Funds which are in your account but which are not yet invested in Elm’s core asset allocation (“Non-Allocated Assets”) will be held in a mix of short-term fixed-income ETFs and index funds with a weighted-average duration of approximately 1 year. The balance of the account (“Allocated Assets”) will be invested in Elm’s core asset allocation. EXHIBIT C: CLIENT PROFILE

Section or Paragraph Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement. By each party executing this Agreement they acknowledge and accept their respective rights, duties, and responsibilities hereunder. This Agreement is only effective upon our execution below. Client name(s): Client signature(s): Date: Elm Partners Management LLC: Date: EXHIBIT A: FACTORS AFFECTING OUR RECOMMENDATION OF FIDELITY OR SCHWAB AS CUSTODIAN AND BROKER-DEALER AND POTENTIAL CONFLICTS OF INTEREST We seek to recommend a custodian and broker-dealer who will hold your assets and execute transactions on terms that are overall most advantageous by considering a wide range of factors including: • combination of transaction execution services along with asset custody services (generally without a separate fee for custody) • capability to execute, clear and settle trades • provide pricing and other market data • facilitate payment of our fees from our clients’ accounts, and • assist with back-office functions, record-keeping and client reporting. Additionally, Fidelity and Schwab provide their own, as well as third party, investment research. • capabilities to facilitate transfers and payments to and from accounts • breadth of investment products made available • availability of investment research and tools that assist us in making investment decisions • quality of services • competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate them • reputation, financial strength and stability • prior service to us and our other clients • availability of other products and services (see below) Products and Services Available to Us from Fidelity and Schwab. Fidelity and Schwab have divisions which serve independent investment advisory firms like us. They provide us and our clients with access to its institutional brokerage – trading, custody, reporting and related services – which is not typically available to retail customers. They also make available various support services. Some of those services help us manage or administer our clients’ Accounts accounts while others help us manage and grow our business. Services that Benefit You. Fidelity and Xxxxxx’x institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of client assets. Services that May Not Directly Benefit You. Fidelity and Schwab also make available to us other products and services that benefit us but may not directly benefit you. These products and services assist us in managing and administering our clients’ accounts. In particular, they make available software and other technology that: • provide access to client account data • facilitate trade execution and allocate aggregated trade orders for multiple client accounts • provide pricing and other market data • facilitate payment of our fees from our clients’ accounts, and • assist with back-office functions, record-keeping and client reporting. Additionally, Fidelity and Schwab provide their own, as well as third party, investment research. Services that Generally Benefit Only Us. Fidelity and Schwab also offer other services intended to help us manage and further develop our business enterprise, including: • educational conferences and events • technology, compliance, legal, and business consulting • access to employee benefits providers, human capital consultants and insurance providers. They may provide some of these services directly or arrange for third-party vendors to provide the services to us. They may also discount or waive its their fees for some of these services or pay all or a part of a third party’s fees. They may also provide us with other benefits such as occasional business entertainment of for our personnel. We don’t have to pay for Fidelity or Xxxxxx’x services, and this may be contingent on keeping a minimum amount of client assets with the Custodian. This minimum amount may give us an incentive to require that you maintain your account with Fidelity or Schwab based on our interest in receiving their services that benefit our business rather than based on your interest in receiving the best value in custody services and the most favorable execution of your transactions. This is a potential conflict of interest. We believe, however, that our selection of Fidelity and Schwab as custodians and brokers is in the best interests of our clients. It is primarily supported by the scope, quality and price of their services. EXHIBIT B: AVERAGING PROGRAM Clients utilizing the optional Averaging Program wish to have funds in their account invested in Elm’s core asset allocation in discreet amounts over a period of time (“averaging-in”) rather than all at once. Prior to beginning an Averaging Program, you would provide Elm the following information: - Total amount of funds to be invested through the Averaging Program (“Total Program Amount”) - Amount to be allocated at each rebalancing (“Base Amount”) - Reference index Index (if desired) o Base level for the reference index o Speed multiplier Multiplier Case 1 – No Reference Index: If no reference index is provided, upon each portfolio rebalancing date an amount equal to the Base Amount will be invested according to Xxx’s 's target asset allocation. However, the total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary necessary, the final invested amount may be reduced accordingly. Case 2 – Reference Index: If a reference index is provided, funds will be invested as in Case 1, however the amount of funds invested in Elm’s asset allocation upon each rebalancing will be adjusted by an amount equal to 1 + M*(S0 / St – 1), where S0 is the chosen reference index level, St, is the reference index at the time of the rebalancing, and M is the chosen Speed Multiplier. The total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Funds which are in your account but which are not yet invested in Elm’s core asset allocation (“Non-Allocated Assets”) will be held in a mix of short-term fixed-income ETFs and index funds with a weighted-average duration of approximately 1 year. The balance of the account (“Allocated Assets”) will be invested in Elm’s core asset allocation. EXHIBIT C: CLIENT PROFILE.

Section or Paragraph Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement. By each party executing this Agreement they acknowledge and accept their respective rights, duties, and responsibilities hereunder. This Agreement is only effective upon our execution below. Client name(s): Client signature(s): Date: Elm Partners Management LLC: Date: EXHIBIT A: FACTORS AFFECTING OUR RECOMMENDATION OF FIDELITY OR SCHWAB AS CUSTODIAN AND BROKER-DEALER AND POTENTIAL CONFLICTS OF INTEREST We seek to recommend a custodian and broker-dealer who will hold your assets and execute transactions on terms that are overall most advantageous by considering a wide range of factors including: • combination of transaction execution services along with asset custody services (generally without a separate fee for custody) • capability to execute, clear and settle trades • capabilities to facilitate transfers and payments to and from accounts • breadth of investment products made available • provide access to client account data • facilitate trade execution and allocate aggregated trade orders for multiple client accounts • provide pricing and other market data • facilitate payment of our fees from our clients’ accounts, and • assist with back-office functions, record-keeping and client reporting. Additionally, Fidelity and Schwab provide their provides its own, as well as third party, investment research. • capabilities to facilitate transfers and payments to and from accounts • breadth of investment products made available • availability of investment research and tools that assist us in making investment decisions • quality of services • competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate them • reputation, financial strength and stability • prior service to us and our other clients • availability of other products and services (see below) Products and Services Available to Us from Fidelity and SchwabFidelity. Fidelity and Schwab have divisions which serve Brokerage Services LLC serves independent investment advisory firms like us. They provide us and our clients with access to its institutional brokerage – trading, custody, reporting and related services – which is not typically available to Fidelity retail customers. They Fidelity also make makes available various support services. Some of those services help us manage or administer our clients’ Accounts while others help us manage and grow our business. Services that Benefit You. Fidelity and Xxxxxx’x Fidelity’s institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of client assets. The investment products available through Fidelity include some to which we might not otherwise have access or that would require a significantly higher minimum investment by our clients. Services that May Not Directly Benefit You. Fidelity and Schwab also make makes available to us other products and services that benefit us but may not directly benefit you. These products and services assist us in managing and administering our clients’ accounts. In particular, they make Fidelity makes available software and other technology that: • provide access to client account data • facilitate trade execution and allocate aggregated trade orders for multiple client accounts Services that Generally Benefit Only Us. Fidelity and Schwab also offer offers other services intended to help us manage and further develop our business enterprise, including: • educational conferences and events • technology, compliance, legal, and business consulting • access to employee benefits providers, human capital consultants and insurance providers. They Fidelity may provide some of these services directly itself or arrange for third-party vendors to provide the services to us. They Fidelity may also discount or waive its fees for some of these services or pay all or a part of a third party’s fees. They Fidelity may also provide us with other benefits such as occasional business entertainment of our personnel. We don’t have to pay for Fidelity or Xxxxxx’x services, and this may be contingent on keeping Fidelity’s services so long as we keep a minimum amount of client assets with the Custodianin accounts at Fidelity. This minimum amount may give us an incentive to require that you maintain your account with Fidelity or Schwab based on our interest in receiving their Fidelity’s services that benefit our business rather than based on your interest in receiving the best value in custody services and the most favorable execution of your transactions. This is a potential conflict of interest. We believe, however, that our selection of Fidelity as custodian and Schwab as custodians and brokers broker is in the best interests of our clients. It is primarily supported by the scope, quality and price of their Fidelity’s services. EXHIBIT B: AVERAGING PROGRAM Clients utilizing the optional Averaging Program wish to have funds in their account invested in Elm’s core asset allocation in discreet amounts over a period of time (“averaging-in”) rather than all at once. Prior to beginning an Averaging Program, you would provide Elm the following information: - Total amount of funds to be invested through the Averaging Program (“Total Program Amount”) - Amount to be allocated at each rebalancing (“Base Amount”) - Reference index (if desired) o Base level for the reference index o Speed multiplier Case 1 – No Reference Index: If no reference index is provided, upon each portfolio rebalancing date an amount equal to the Base Amount will be invested according to XxxElm’s target asset allocation. However, the total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Case 2 – Reference Index: If a reference index is provided, funds will be invested as in Case 1, however the amount of funds invested in Elm’s asset allocation upon each rebalancing will be adjusted by an amount equal to 1 + M*(S0 / St – 1), where S0 is the chosen reference index level, St, is the reference index at the time of the rebalancing, and M is the chosen Speed Multiplier. The total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Funds which are in your account but which are not yet invested in Elm’s core asset allocation (“Non-Allocated Assets”) will be held in a mix of short-term fixed-income ETFs and index funds with a weighted-average duration of approximately 1 year. The balance of the account (“Allocated Assets”) will be invested in Elm’s core asset allocation. EXHIBIT C: CLIENT PROFILE

Section or Paragraph Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement. __________________________________________________________________________________________________ By each party executing this Agreement they acknowledge and accept their respective rights, duties, and responsibilities hereunder. This Agreement is only effective upon our execution below. Elm Partners Management LLC: Date: Client name(s): Client signature(s): Date: Elm Partners Management LLC: Date: EXHIBIT A: FACTORS AFFECTING OUR RECOMMENDATION OF FIDELITY OR SCHWAB AS CUSTODIAN AND BROKER-DEALER AND POTENTIAL CONFLICTS OF INTEREST ________________________________________________________________________________________________ We seek to recommend a custodian and broker-dealer who will hold your assets and execute transactions on terms that are overall most advantageous by considering a wide range of factors including: • combination of transaction execution services along with asset custody services (generally without a separate fee for custody) • capability to execute, clear and settle trades • provide pricing and other market data • facilitate payment of our fees from our clients’ accounts, and • assist with back-office functions, record-keeping and client reporting. Additionally, Fidelity and Schwab provide their own, as well as third party, investment research. • capabilities to facilitate transfers and payments to and from accounts • breadth of investment products made available • availability of investment research and tools that assist us in making investment decisions • quality of services • competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate them • reputation, financial strength and stability • prior service to us and our other clients • availability of other products and services (see below) _______________________________________________ Products and Services Available to Us from Fidelity and SchwabFidelity. Fidelity and Schwab have divisions which serve Brokerage Services LLC serves independent investment advisory firms like us. They provide us and our clients with access to its institutional brokerage – trading, custody, reporting and related services – which is not typically available to Fidelity retail customers. They Fidelity also make makes available various support services. Some of those services help us manage or administer our clients’ Accounts while others help us manage and grow our business. Services that Benefit You. Fidelity and Xxxxxx’x institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of client assets. Services that May Not Directly Benefit You. Fidelity and Schwab also make available to us other products and services that benefit us but may not directly benefit you. These products and services assist us in managing and administering our clients’ accounts. In particular, they make available software and other technology that: • provide access to client account data • facilitate trade execution and allocate aggregated trade orders for multiple client accounts Services that Generally Benefit Only Us. Fidelity and Schwab also offer other services intended to help us manage and further develop our business enterprise, including: • educational conferences and events • technology, compliance, legal, and business consulting • access to employee benefits providers, human capital consultants and insurance providers. They may provide some of these services directly or arrange for third-party vendors to provide the services to us. They may also discount or waive its fees for some of these services or pay all or a part of a third party’s fees. They may also provide us with other benefits such as occasional business entertainment of our personnel. We don’t have to pay for Fidelity or Xxxxxx’x services, and this may be contingent on keeping a minimum amount of client assets with the Custodian. This minimum amount may give us an incentive to require that you maintain your account with Fidelity or Schwab based on our interest in receiving their services that benefit our business rather than based on your interest in receiving the best value in custody services and the most favorable execution of your transactions. This is a potential conflict of interest. We believe, however, that our selection of Fidelity and Schwab as custodians and brokers is in the best interests of our clients. It is primarily supported by the scope, quality and price of their services. EXHIBIT B: AVERAGING PROGRAM Clients utilizing the optional Averaging Program wish to have funds in their account invested in Elm’s core asset allocation in discreet amounts over a period of time (“averaging-in”) rather than all at once. Prior to beginning an Averaging Program, you would provide Elm the following information: - Total amount of funds to be invested through the Averaging Program (“Total Program Amount”) - Amount to be allocated at each rebalancing (“Base Amount”) - Reference index (if desired) o Base level for the reference index o Speed multiplier Case 1 – No Reference Index: If no reference index is provided, upon each portfolio rebalancing date an amount equal to the Base Amount will be invested according to Xxx’s target asset allocation. However, the total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Case 2 – Reference Index: If a reference index is provided, funds will be invested as in Case 1, however the amount of funds invested in Elm’s asset allocation upon each rebalancing will be adjusted by an amount equal to 1 + M*(S0 / St – 1), where S0 is the chosen reference index level, St, is the reference index at the time of the rebalancing, and M is the chosen Speed Multiplier. The total amount invested in this way through the Averaging Program will not exceed the Total Program Amount, so if necessary the final invested amount may be reduced accordingly. Funds which are in your account but which are not yet invested in Elm’s core asset allocation (“Non-Allocated Assets”) will be held in a mix of short-term fixed-income ETFs and index funds with a weighted-average duration of approximately 1 year. The balance of the account (“Allocated Assets”) will be invested in Elm’s core asset allocation. EXHIBIT C: CLIENT PROFILE_______________________________________________