Charles Schwab & Co. Inc.

Randall W. Merk oversees Schwab's newly-created Investment Management Services division, responsible for developing and delivering innovative asset management products and services. He is also president and CEO of Charles Schwab Investment Management, the mutual fund advisor to Schwab and Laudus funds. Additionally, he is responsible for Schwab's Mutual Fund MarketPlace® and Mutual Fund OneSource® partnerships, alternative investments, fixed income, insurance and annuities. Prior to his current position, Merk served as president of Schwab Financial Products, which included responsibility for mutual funds, managed accounts, insurance and annuity services and mutual fund clearing services. He was also responsible for management of Charles Schwab Bank. Before joining Schwab in 2002, Merk spent 15 years at American Century Investments and Benham Capital Management (acquired by American Century in 1995) in a variety of positions, including president and chief investment officer. Merk earned a Bachelor of Arts degree from the University of California at Davis and his Master of Business Administration degree in finance from Golden Gate University in San Francisco.

Lois Towers leads McHenry's compliance and risk management consulting practice as Managing Director. She was US Compliance Officer for Barclays Global Investors from 1999 to 2006. Lois joined Barclays following service with Linsco / Private Ledger (Chief Compliance Officer), Charles Schwab & Co. (Schwab Institutional Division Compliance Officer) and Fidelity Investments (multiple divisional roles). Her role at McHenry is one of strategic leadership as we help clients address current and evolving regulatory and business issues in the trust, investment management and retirement marketplace.

Rebecca Saeger is responsible for Schwab's advertising and brand management, marketing communications, public relations, media planning and buying, sponsorships, and database and relationship marketing. Saeger has direct accountability for both firm-wide and enterprise specific marketing activities. Prior to joining Schwab in 2004, Saeger was a member of the executive management committee at Visa USA, where she was responsible for marketing and led efforts behind Visa's fastest growing consumer product, the Visa Check Card. Previously, Saeger worked at Foote, Cone & Belding, where she led national marketing campaigns for major brands such as Pillsbury and Janus Funds. Prior to that, Saeger launched new products and international advertising campaigns at Ogilvy & Mather for clients American Express and Unilever. Saeger serves on the board of directors as chair of the Association of National Advertisers. She is also a member of the World Congress of Sports advisory board and the marketing committee of the San Francisco Symphony. Saeger earned a bachelor's degree from Muhlenberg College and her Master of Business Administration degree from the Wharton School at University of Pennsylvania.

James D. McCool leads the Institutional Services business, serving independent investment advisors, corporate clients, and their employees. Institutional Services provides custodial, operational and trading support for approximately 5,700 independent investment advisory firms that serve 1.5 million individual clients. It also offers a spectrum of corporate retirement and brokerage services, either directly to corporations or through third party administrators. These services include employer-sponsored retirement plans, stock plans, and corporate brokerage services, in addition to recordkeeping, trustee and custodial services. McCool also oversees Schwab’s investment-only sales and mutual fund clearing businesses. He is a member of Schwab’s Operating Council. A 25-year veteran of the financial services industry with extensive experience in the business to business model, McCool began his career in the retirement plan servicing industry in 1984 as one of the initial employees of The Hampton Company, which became a wholly owned subsidiary of The Charles Schwab Corporation in 1995. Most recently, he served as executive vice president of Schwab Corporate & Retirement Services. Prior to that, he was senior vice president and general manager of the Plan Administrator Services enterprise serving third party administrators and retirement advisors and has held management positions in several departments, including client and participant services, employee education, daily valuation operations, product development, conversion and ERISA compliance and consulting. McCool is active in government affairs on issues of regulatory reform affecting defined contribution plans and has provided expert testimony on various issues involving the retirement plan industry. He is a frequent speaker before various industry groups as well as professional organizations in the investment, legal and actuarial professions. McCool was appointed to the ERISA Advisory Council in 2005 and served as chair in 2007. McCool has also served as a delegate for the 2002 National Summit on Retirement Savings and was chairman of the SPARK/ National Defined Contribution Council (NDCC) Institute Investment Advice Task Force, which was charged with developing educational materials for key members of U.S. Representative John A. Boehner's Education and the Workforce Committee. McCool earned his Bachelor of Science degree in business administration from the University of Akron. He is a member of the SPARK/NDCC Institute and the American Society of Pension Professionals & Actuaries (ASPPA) and holds multiple securities licenses.

Jan Hier-King is responsible for centralized support services including Schwab Technology Services, Operational Services, corporate project management, operational risk management and offshore services. Prior to her current position at Schwab, Hier-King held several positions at Schwab, including: Chief Information Officer; executive vice president of Human Resources; head of Electronic Brokerage Technology; and head of Schwab Institutional Technology. Before joining Schwab in 1994, Hier-King served as vice president of engineering at Transaction Technology, Inc., a Citicorp subsidiary, where she was responsible for providing distributed technology to Citibank businesses worldwide. Previously, she was a telecommunications specialist at Bank of America. As an economist with the Bureau of Labor Statistics, she was instrumental in the original development of a Producer Price Index for the telecommunications industry and was called on as an expert witness at the U.S. House of Representatives. Hier-King earned her bachelor's degree in economics, master's degree in economics and attended post-graduate studies at Syracuse University, New York.

Douglas Beck has more than 15 years of global business experience, including overseas assignments in China, Indonesia, Japan and Singapore and military assignments as an intelligence officer for the U.S. Navy. He is currently a senior vice president at Charles Schwab & Company.

Kim Daifotis is senior vice president and head of fixed income portfolio management of Charles Schwab Investment Management, Inc. (CSIM). Kim is responsible for the overall portfolio management of the Schwab YieldPlus Fund , the Schwab Tax-Free YieldPlus Fund , the Schwab CA Tax-Free YieldPlus Fund , the Schwab GNMA Fund , the Schwab Short-Term Bond Market Fund , the Schwab Total Bond Market Fund , and the fixed income components for Schwab's MarketTrack Portfolios and Schwab Dividend Equity Fund. He also oversees the tax-free bond and money market fund portfolios. Prior to joining CSIM in November 1997, Kim spent five years at Lehman Brothers where he served as vice president and fixed income institutional salesman, as well as a senior portfolio strategist assisting clients on various issues emphasizing matching or outperforming Lehman Brothers indices. Before Lehman, Kim spent three years as a senior portfolio manager for Barclays Global Investors managing the tactical asset allocation product. Kim holds a CFA (Chartered Financial Analyst) designation and is a member of the Security Analysts of San Francisco. He received an MBA specializing in Finance from the University of Chicago's Graduate School of Business, and a Bachelor of Arts degree in economics specializing in quantitative methods from Claremont McKenna College. Kim has Series 3, 7 and 63 registrations.

Peterson is the portfolio manager for Schwab Managed Portfolios™ and head of the Investment Manager Research department. Prior to joining Schwab in 1998, Peterson was an assistant professor of finance at the University of Notre Dame. He was voted "Outstanding Teacher" in BusinessWeek's "Guide to the Best Business Schools" in 1997 and has been published in several leading academic and professional journals. Peterson received his Ph.D. in finance from Louisiana State University.

Joanne Larkin is vice president and senior portfolio manager for Charles Schwab Investment Management, Inc. (CSIM). She has managed the Schwab California Long-Term Tax-Free Bond Fund and the Schwab Long-Term Tax-Free Bond Fund since 1992. In addition, she has managed the Schwab California Short/Intermediate Tax-Free Bond Fund and the Schwab Short/Intermediate Term Tax-Free Bond Fund since 1993. Prior to joining CSIM in 1992, Joanne was vice president and portfolio manager with Shearson Lehman, where she managed the company's California Municipal Bond Fund and later, E.F. Hutton's Municipal Cash Reserve Management. Joanne received a Bachelor of Arts degree in sociology and business from Rosemont College in 1984. She is a member of the San Francisco Municipal Bond Club.

Karen Wiggan is a vice president and portfolio manager for Charles Schwab Investment Management, Inc. (CSIM). She manages the Schwab Government Money Fund, the Schwab U.S. Treasury Money Fund, the Schwab Money Market Portfolio and the Schwab Government Cash Reserves. Karen started her career at Schwab in 1987 as a participant in the Corporate Career Development Program. She joined the CSIM portfolio management group in 1992 as a senior financial analyst and was promoted to her current position in 1999. Karen received a Bachelor of Arts degree in 1983 from the University of California, Los Angeles and a Masters of Science in 1985 from Carnegie Mellon University.

Kevin Jaksch, age 37, has served as a DIrector of the Company since 2000. Since 1999, Mr. Jaksch has served as Vice President and Branch Manager at Charles Schwab & Co. (NASDAQ: SCHW). Mr. Jaksch has been a registered representative for 15 years and a registered principle for 12 years over seeing two offices with over four billion in assets. Mr. Jaksch has broad experience in the financial markets and financial advising. Mr. Jaksch earned a BA in Communications from the University of Southern California in Los Angeles.

Linda Klingman is a vice president and senior portfolio manager for Charles Schwab Investment Management, Inc. (CSIM). In addition to being a co-manager with Michael Neitzke, Linda has overall responsibility for the management of the Schwab Money Market Fund, the Schwab Value Advantage Money Fund , the Schwab Retirement Money Fund and the Schwab Institutional Advantage Money Fund . Prior to joining CSIM in 1990, Linda spent five years with AIM management. She received a Bachelor of Business Administration degree in marketing from Stephen F. Austin State University in 1985.

Vivienne Hsu is a vice president and senior portfolio manager for Charles Schwab Investment Management (CSIM). Vivienne is a member of the senior equity management team that oversees Schwab Funds that use Schwab Equity Ratings . Ms. Hsu joined CSIM in August 2004 from American Century Investment in Mountain View, California, where she was vice president, portfolio manager and senior quantitative analyst. Prior to her work with American Century, Ms. Hsu served as a consultant at Barra, a financial risk management solutions provider. Ms. Hsu holds an MBA degree from the Haas School of Business at the University of California, Berkeley. She also holds the Charter Financial Analyst designation.

Caroline Lee, a director and portfolio manager, is a co-manager of the Schwab Target Funds and Schwab Viewpoints Fund and has responsibility for the overall portfolio management of the funds and oversight of the sub-advisors for Schwab Viewpoints Fund. She joined the firm in 2005 and has over 7 years of experience in equity and fixed income analysis. She holds an AB in History from Duke University and an MBA in Finance from the Wharton School of Business.

Larry Mano is a Director with the Equity Portfolio Management group and Portfolio Manager responsible for the day-to-day management of the Schwab Core Equity Fund, the Schwab Dividend Equity Fund, the Schwab Total Stock Market Index Fund, the Schwab International Index Fund, the Schwab Technology Fund and the Schwab Financial Services Fund. Prior to joining Charles Schwab Investment Management (CSIM) in 1998, he was a vice president and principal at Wilshire Associates, Inc. in the Institutional Services Group where he directed the product development and client servicing of analytical tools to aid in the management of structured and indexed equity portfolios. Larry earned his Bachelor of Science in Business Administration with an emphasis in Investments and Finance at California State University, Long Beach.

Randy Frederick is director of trading and derivatives at the Schwab Center for Financial Research. He is one of the chief architects of Schwab’s option trading platforms and analytics tools. Frederick supervises operation and risk procedures, business and product development efforts, as well as public relations and client education for the derivatives business. Frederick, a respected industry veteran with more than twenty years of experience, writes monthly columns for Schwab’s client newsletters, and is the author of the book The Trader’s Guide to Equity Spreads (McGraw-Hill, 2007). His articles have been published in trade magazines such as Active Trader, SFO, and Futures. He is a frequent guest on CNBC and Bloomberg TV and his comments appear regularly in the financial news media including The Wall Street Journal, Barron’s, Financial Times, Bloomberg, Dow Jones, Reuters, USA Today and TheStreet.com.

Steven Hung, director and portfolio manager, is a day-to-day co-manager of the Taxable Bond Funds (Schwab Inflation Protected Fund , Schwab YieldPlus Fund, Schwab Short-Term Bond Market Fund, the Schwab Total Bond Market Fund, and the Schwab GNMA Fund). Mr. Hung joined the Taxable Bond Portfolio Management team in May of 1999. Prior to joining the Portfolio Management Team, Mr. Hung was an associate in Schwab's management training program. In that role, he worked as a clerk on the Options Trading Floor of the Pacific Coast Stock Exchange. Mr. Hung received a B.A. in Applied Economics from the University of San Francisco and is currently a Level II Candidate in the Chartered Financial Analyst Program. He is also a member of the CFA Institute and the San Francisco Society of Security Analysts.

Mr. Carey is a Senior Vice President and Senior Portfolio Manager at the U.S. Trust Corporation, a Charles Schwab Company. He has an M.B.A. in Finance from Pennsylvania State University, and began his business career with U.S. Trust Corporation 26 years ago.

Kevin Shaughnessy, CFA, is a managing director and portfolio manager for Charles Schwab Investment Management, Inc. (CSIM). Kevin has overall responsibility for the management of the Schwab Municipal Money Fund™, Schwab AMT Tax-Free Money Fund™, Schwab California Municipal Money Fund™, Schwab California AMT Tax-Free Money Fund™, Schwab New York AMT Tax-Free Money Fund™, the Schwab New Jersey AMT Tax-Free Money Fund™, Schwab Pennsylvania Municipal Money Fund™, and Schwab Massachusetts AMT Tax-Free Money Fund™. Prior to joining CSIM in 2000, Kevin was a portfolio manager at Wells Capital Management for their California municipal money funds. He has worked in fixed-income and asset management since 1993. Kevin received a Bachelor of Science in Business Administration and a Master of Business Administration in Finance from California State University, Hayward. A Chartered Financial Analyst since 1998, Kevin is a member of the San Francisco Society of Securities Analysts and the Association for Investment Management and Research.

Mike Neitzke is a managing director and portfolio manager for Charles Schwab Investment Management, Inc. (CSIM). Mike has day-to-day responsibility for the management of the Schwab Money Market Fund™, Schwab Value Advantage Money Fund®, Schwab Cash Reserves ™, Schwab Advisor Cash Reserves®, Schwab Retirement Advantage Money Fund®, and Schwab Investor Money Fund®. Prior to joining CSIM in 2001, Mike was a Principal at Wells Capital Management, where he was responsible for the management of all of their taxable, non-government money market funds. Prior to that, he was a portfolio manager with Union Capital Advisors in Los Angeles. Mike has worked in the financial industry as a portfolio manager since 1986. Mike received a Bachelor of Science in Finance from California State University, Los Angeles.

Jane has been Corporate Counsel and Assistant Corporate Secretary for the Charles Schwab Corporation, a financial services firm, since 1997. She currently serves as Vice President of the San Francisco Chapter of the American Society of Corporate Secretaries. Jane adopted her youngest daughter, Uma, from Nepal in 1999, and has an ongoing commitment to the well-being and support of Nepali children.

Janet Harvey is a life and leadership coach. She is an experienced, versatile professional in the domains of organizational effectiveness and executive leadership development for the 21st century. A former officer with Charles Schwab and General Mills, Janet is a seasoned executive operating for the past ten years as an entrepreneur in organizational consulting and coaching. As a published author, personal growth workshop conductor and national conference speaker Ms. Harvey coaches leaders becoming better leaders in every domain of their lives. As the founder of Invite Change, Janet's purpose is to induct awareness, potential, mastery and magnificence in individuals who choose growth, learning and transformation as a way of being for themselves and everyone they touch in their lives.

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Lauretta Zerga is vice president of Self Sellers Network where she directs the Information Technology Plan. Lauretta is the principal of Ongaro Zerga Advisors and a former vice president of Charles Schwab & Co. She provides corporate direction for technologies across multiple industries for over 20 years. Lauretta is a guest speaker at conferences, UC Berkeley Extension as well as numerous professional organizations.

Mary joined Sovereign in June 2006 after spending six years as Client Service Supervisor at the Birmingham, Alabama branch of Charles Schwab & Company. With 21 years experience in the financial services industry, she assures that the monitoring and recording of client account activities for managed accounts housed outside of our account custodian, Charles Schwab, is maintained and updated appropriately. Mary also prepares all of Sovereign's quarterly billing and performance reporting. She also assists the Chief Compliance Officer with necessary filings and reports. On June 26, 2008, Mary received the Investment Adviser Certified Compliance Professional designation after completing a comprehensive program through NRS Center for Compliance Professionals.

Michael Edgel is an associate attorney with the law firm of Fitzwater & Meyer, LLP. His practice emphasizes elder law and long-term care planning, probate administration and litigation, guardianships and conservatorships, and special needs trusts. Prior to attending law school, Michael gained experience working with seniors while studying geriatric social work. During law school, he added a financial perspective to his background while working as a securities broker at Charles Schwab, Inc. Upon graduation from Law School, Michael clerked for the Honorable C. Jean Stewart, Judge of the Denver Probate Court in Denver, Colorado. Raised in New Mexico, Michael holds a B.S. from Brigham Young University in Provo, Utah; an M.S.W. from New Mexico State University in Las Cruces, New Mexico; and a J.D. from the University of Denver College of Law. Michael is the author of Proper Application of CRS 15-12-723 For Recovery of Estate Assets, published in the May, 2003 bar journal, "The Colorado Lawyer." He is fluent in Spanish and has served as an interpreter in various settings, including Colorado Courts.

Sandra Martinez , Senior Administrative Assistant, Partnerships, provides executive support to the Senior Vice President of Partnerships. Prior to OneWorld Health, Sandra supported United Behavioral Health's C hief Operating Officer, and Chief Clinical Officer. Past employment experience also includes administrative positions at Charles Schwab. Sandra serves on the Board of Directors for Operation Mom, a nonprofit military family support group in the Bay Area. Mireille Cronin Mather, Director, Communications and Outreach, has over 13 years' strategic communications experience, most recently as a consultant to health programs in Africa. Mireille has developed and implemented comprehensive technical, advocacy, marketing, PR/media, behavior change and capacity building strategies with a variety of health and humanitarian aid organizations, from local implementers and Ministries of Health in developing countries to global and US policymakers. Formerly communications director of a $120 million USAID-funded child survival program, she has extensive experience with malaria and other infectious and neglected diseases in Asia, Africa and Latin America. Earlier in her career, Mireille worked in strategic corporate communications in the private sector. Mireille has a BA in Interdisciplinary Studies from VPI&SU. EmmaLou Moore, Human Resources Coordinator, supports the administrative functions of domestic recruitment and staffing at OneWorld Health. She spent over ten years pursuing a career in publishing that included managerial positions in the editorial departments of local magazines and small book companies. She has volunteered and worked with the San Francisco Bay Area Chapter of The Leukemia and Lymphoma Society, Contra Costa County's AIDS Program, and Kaiser Permanente. Emma received a B.A. in Journalism from the University of Oregon. Elaine Peach, Executive Assistant to Victoria Hale has many years of experience supporting high level staff at various corporations in the Bay Area. Most recently, Elaine was the Executive Assistant to the CEO, CFO and the VP of Legal Affairs at Genitope; immediately prior to that she worked as the Executive Assistant at Ponte Communications Inc. Elaine attended Azusa Pacific University and is a member of the International Association of Administrative Professionals.

Tom Brown, an assistant portfolio manager of the investment adviser, is a day-to-day co-manager of both the firm's equity mutual funds and managed accounts. He joined Schwab's Electronic Brokerage business in 1995, moved to Charles Schwab Investment Management as a trader in 1999, and was named to his current position in 2004. Tom graduated cum laude from The American University in Washington, D.C. with a BA in International Economics.

Nancy Bechtle joined the Charles and Helen Schwab Foundation's Board of Directors in September, 2001. Ms. Bechtle is the chairman and director of the Sugar Bowl Corporation and a director of the Charles Schwab Corporation. Ms. Bechtle was president and CEO of the San Francisco Symphony from 1987 to 2001, and has served as a member of the Board of Governors since 1984. During her tenure at the Symphony, Ms. Bechtle presided over the selection of Michael Tilson Thomas as the orchestra's music director, expanded the organization's budget from $21 million to $47.5 million, and oversaw the $10 million acoustical renovation of the symphony hall. Prior to joining the Symphony, Ms. Bechtle was a director and chief financial officer of J.R. Bechtle & Co., an international consulting firm. Ms. Bechtle has served on the board of a number of cultural, educational and human service institutions including the Northern California Health Center, the San Francisco Opera Association and the San Francisco Conservatory of Music. She was also chairman of the San Francisco Committee of the U.S. Ski Team. Throughout her career, Ms. Bechtle has been honored with awards, including the Lifetime Achievement in the Arts from the California Arts Council, the Investment in Leadership award from the Coro Foundation, the Leadership in the Arts award from St. Francis Hospital, and the Business Arts Council of the Chamber of Commerce's Trustee award.

Robert N. Wilson has been a member of our board of directors since June 2003. Mr. Wilson served as Vice Chairman of the board of directors of Johnson & Johnson, a global manufacturer of healthcare products, from 1986 until 2003. Mr. Wilson joined Johnson & Johnson in 1964. He was appointed to Johnson & Johnson’s executive committee in 1983 and was elected to its board of directors in 1986. Mr. Wilson is also a director of The Charles Schwab Corporation, a publicly traded retail brokerage firm, U.S. Trust Corporation, United States Trust Company of New York and Amerada Hess Corporation, an integrated oil and gas company. Mr. Wilson received his B.A. in business administration from Georgetown College in Kentucky, and received an Executive Program B.A. from Columbia University Graduate School of Business.

Mr. Walther, age 72, has served as Chairman and Chief Executive Officer of Tusker Corporation, a real estate and business management company, since 1997. He served as Chairman and Chief Executive Officer of ELS Educational Services, Inc., a provider in the United States and internationally of courses in English as a second language, between 1992 and 1997. Mr. Walther was President, Chief Executive Officer and a director of AIFS, Inc., which designs and markets educational and cultural programs internationally, from 1964 to 1993. Mr. Walther served as Chairman and a director of First Republic Bank from 1985 until November 2007.

Stephen T. McLin Director since 1988 Mr. McLin, age 62, has been Chairman and Chief Executive Officer of STM Holdings LLC, which offers merger and acquisition advice, since 1998. From 1987 until 1998, he was President and Chief Executive Officer of America First Financial Corporation, a finance and investment banking firm, and parent of EurekaBank. Before that, he was an Executive Vice President of Bank of America. Mr. McLin is an advisory director of Headwaters MB, a merchant bank, and Financial Technology Ventures, a private equity fund.

Ms. Sneed, age 59, served as Executive Vice President of Global Marketing Resources and Initiatives for Kraft Foods, Inc. from June 2005 until her retirement in December 2006. She was responsible for leading Kraft's approximately 700-person Global Marketing Services organization that ensures world-class marketing, including advertising, media, promotions, marketing research, packaging, digital and interactive marketing, CRM and other marketing disciplines for more than 100 major food brands. Ms. Sneed joined General Foods Corporation (which later merged with Kraft Foods, Inc.) in 1977, and served in various executive positions since 1986. She also serves as a trustee of Simmons College, Teach for America and the Chicago Children's Museum. Ms. Sneed is also a member of the board of directors of The Charles Schwab Corporation. Ms. Sneed has been an Airgas director since 1999.