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Terms and Conditions of Use

Welcome to the website of Batterymarch Financial Management, Inc., located in Boston, Massachusetts. Batterymarch Financial Management, Inc. ("Batterymarch") is a Maryland corporation registered with the U.S. Securities and Exchange Commission as an investment adviser pursuant to the Investment Advisers Act of 1940. Batterymarch is a wholly owned, independently managed affiliate of Legg Mason, Inc., a NYSE-listed, global asset management firm based in Baltimore, Maryland.

TERMS OF USE
Please carefully read these Terms and Conditions of Use (these "Terms"). Your access to or use of this website signifies that you understand and agree to be bound by these Terms. If you do not agree to be bound by or comply with these Terms, do not access or use this website.

MODIFICATION OF TERMS AND CONDITIONS OF USE
Batterymarch owns and operates this website. Batterymarch reserves the right, in its sole discretion, to change, modify, add, or remove portions of these Terms at any time. We suggest that you check these Terms periodically for changes. Any changes, modifications, or additions to, or deletions from these Terms shall be effective upon posting on this website. If you use this website after we post changes to the Terms, you accept the Terms as changed. Batterymarch expressly reserves the right to monitor any use of this website and assumes no liability relating to its monitoring activities.

JURISDICTION
Unless otherwise specified, this website has been published for residents of the United States. The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject Batterymarch or any of its products to any registration requirement within such jurisdiction or country. Unless otherwise specified, the services and products described on this website are made available only to persons residing in the United States, and the information on this website is only for such persons. Nothing on this website shall be considered a solicitation to buy or an offer to sell a security or service to any person. Batterymarch does not claim that the products or services described on this website are available in any particular jurisdiction or appropriate for any particular investor. If you choose to access this website from a location other than the United States, you do so at your own initiative, and you are responsible for compliance with any applicable local laws or regulations.

INTELLECTUAL PROPERTY
All copyrights, trademarks, logos, service marks, trade names, or other intellectual property displayed on, or used in conjunction with, this website are proprietary to Batterymarch, unless otherwise noted. The content of this website is protected by applicable intellectual property (copyright) law. Batterymarch reserves all rights with respect to intellectual property ownership of all material on this website, and will enforce such rights to the full extent permissible by law. The material accessible on or through this website is accessible for personal browsing and printing purposes only. Users of this website may not otherwise:

(1) copy, reproduce, sell, republish, post, transmit (by electronic means or otherwise), modify, link into, use for any public or commercial purpose or distribute in any way material from this website without the express, written permission of Batterymarch;


(2) use, copy, modify, or display any Batterymarch or Legg Mason name, logo, text or graphic image without Batterymarchís express, written permission;


(3) display any of the pages, text, images or other content of this website using "framing" technology without Batterymarch's express written permission;


(4) modify or use the pages, text, images or other content from this website for any purpose other than browsing or printing for personal, non-commercial use; or

(5) take any action to create an impression of affiliation, sponsorship or endorsement between any user and/or website and Batterymarch.

LINKED WEBSITES
Batterymarch is in no way responsible for the content of any website, owned or operated by a third party, that may be linked to this website via hyperlink, whether such hyperlink is provided by Batterymarch or by a third party. In addition, Batterymarch is in no way responsible for the content of any website to which this website may link. The information to which the user links is neither prepared nor maintained by Batterymarch, and Batterymarch has not and will not review or update the information contained in any linked website. Batterymarch is not responsible for, and makes no warranty with respect to the contents, accuracy, completeness, timeliness, suitability or reliability of the linked website. Use of any website hyperlinked to or from this website shall be at your own risk. By providing access to other websites, Batterymarch is not recommending the purchase of any product or service provided by the sponsors of such websites.

THIRD-PARTY CONTENT
Through this website, you may have access to market data such as news reports, third-party analyst reports, research, securities price quotations, benchmark data and other information relating to securities and the securities markets ("Market Data"). Batterymarch may obtain this Market Data from third parties who are independent of Batterymarch. Even though the sources of the Market Data provided on this website are believed to be reliable, Batterymarch is not responsible for, and makes no warranty with respect to the contents, accuracy, completeness, timeliness, suitability or reliability of the Market Data. The Market Data provided is not a complete summary or statement of all available information or data. Batterymarch makes no express or implied warranties (including but not limited to warranties of merchantability or fitness for a particular purpose) with respect to the market data.

The Market Data and other information accessible through this website are for personal, non-commercial use. You agree not to reproduce, modify, sell, distribute, broadcast, publish or use for any commercial or unlawful purpose any Market Data or other information you access through this website.

The Market Data is provided "as is" and on an "as available" basis. Batterymarch will not be responsible for lost profits, trading losses or any other damages resulting from inaccurate, defective or unavailable Market Data or other information. Batterymarch is not obligated to update or to continue to offer Market Data or other information accessible through this website.

NO OFFER OR ADVICE
This website is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security that may be referenced on or through this website. Nor does this website constitute an offering or recommendation by Batterymarch or its affiliates of any transaction, product or service, including securities transactions and investment management or advisory services. Batterymarch does not provide investment advice, tax advice, insurance advice or legal advice through this website, and you agree that this website will not be used by you for such purposes. Batterymarch does not represent that the securities, products or services discussed on, or accessible through, this website are suitable or appropriate for any particular investor. You acknowledge that your requests for information are unsolicited, and the provision of any information through this website shall not constitute or be considered investment advice, or an offer to sell, or a solicitation of an offer to buy any security.

USE OF E-MAIL AND PRIVACY
The security or privacy of electronic mail sent through the Internet is not guaranteed and may be intercepted by third parties. Do not send sensitive or confidential information to Batterymarch via electronic mail. Delivery, and timely delivery, of electronic mail is also not guaranteed. Batterymarch therefore also recommends that you do not send time-sensitive or action-oriented messages to us via electronic mail. Such requests, orders or instructions will not be processed until Batterymarch can confirm your instructions or obtain appropriate written documentation where necessary. Communications to Batterymarch, particularly those containing confidential information, may be sent to: Batterymarch Financial Management, Inc., John Hancock Tower, 200 Clarendon Street, Boston, Massachusetts 02116.

Batterymarch takes the matter of your privacy very seriously. When you visit our website, Batterymarch may collect information about you if you voluntarily choose to send Batterymarch an e-mail, request information or ask to be contacted. Batterymarch may use this information to provide you with updated information about the products and services it offers. However, Batterymarch will never share your personal information with any third party, unless required to do so by law. Certain employees of Batterymarch and its affiliates may be given the information you provide to respond to your requests. Employees of Batterymarch and its affiliates are instructed to handle this information confidentially. Other sites this website links to may have their own privacy policies and they may differ from Batterymarch's policies. Batterymarch is not responsible for the privacy practices employed by other websites.

A cookie is a small text file stored on your computer. We may use cookies for session management or to analyze site usage; we do not use cookies to store personal information.

DISCLAIMERS AND LIMITATION OF LIABILITY.
Batterymarch does not warrant this website (including Market Data or other information accessible on or through this website) for any particular purpose. It is provided "as is" and on an "as available" basis. Batterymarch disclaims, to the fullest extent of the law, any warranty of any kind, whether express or implied, as to any matter relating to this website, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. Use of this website is at your own risk.

Batterymarch and its directors, officers, or employees will not be liable or have any responsibility of any kind for any loss or damage that you incur arising from or in connection with:


(1) any delay, termination, failure, defect or interruption in the transmission of this website or any Market Data;


(2) any inaccuracy, error, unavailability or incompleteness in the transmission of this website or any Market Data;


(3) any termination or interruption of your access to this website;


(4) your reliance on or use of this website or any Market Data;


(5) any e-mail requests, orders or instructions you send, or the interception by third parties of any requests, orders or instructions you send via e-mail;


(6) any act or omission of Batterymarch in making this website or Market Data available to you; or


(7) any other cause relating to your access to or use of this website, whether or not the circumstances giving rise to such cause may have been within the control of Batterymarch or within the control of any other party providing software or services support for this website.


Although the information and data provided to you on this website is obtained or compiled from sources believed to be reliable, Batterymarch cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information, data or opinions made available to you for any particular purpose. This website may include forward-looking statements, which are based on current opinions, expectations and projections. Batterymarch expressly disclaims any duty to update or revise any information, opinion or forward-looking statement appearing on this website. Decisions based on information contained on this website are solely your responsibility.

Batterymarch does not warrant that this website, or the functions contained in this website, will be uninterrupted or error-free, that defects will be corrected, or that this website, or the servers that make it available, are free from viruses or other harmful components. You assume the entire cost of any necessary servicing, repairing, or correcting of your property or operations as a result of using this website. You accept at your own risk that the Internet or other online communications medium may not perform as intended as a result of human, mechanical or other error, despite the efforts of Batterymarch, you or any third party.


You hereby agree to indemnify, defend and hold Batterymarch and its affiliates, directors, officers and employees ("Indemnified Persons") harmless from and against any claims, losses, liabilities or expenses (including reasonable attorneys' fees and expenses) arising out of or resulting from your violation of any law, rule or regulation relating to your use of the website, or any breach by you of the Terms or any of the representations, warranties and covenants made by you herein, or out of any other activity engaged in by you whatsoever. In no event will Batterymarch or its Indemnified Persons be liable to you for any direct, indirect, special, consequential or incidental damages related in any way to your use of this website, even if: (a) such damages are reasonably foreseeable; or (b) Batterymarch or any other party has been advised of the possibility of such damages. Batterymarch shall have the right to participate in such defense through counsel of its own choosing. In no event shall you consent to entry of judgment or enter into any settlement agreement that does not include a full release of Batterymarch and other affected Indemnified Persons or entities, nor shall you make any statement in settlement of any third party claim or proceeding in which it is alleged that your use of the website infringes a third party intellectual property right which may be construed as an admission of liability or an acknowledgment of third party rights or which may otherwise affect Batterymarch's rights with respect to the website without Batterymarch's prior written approval.

PROHIBITED USES
You may not use this website in any manner that could damage or overburden any Batterymarch server, or any network connected to any Batterymarch server, or in any manner that would interfere with another party's use of this website. Unless expressly authorized by Batterymarch in writing or as otherwise allowed by these terms and conditions of use, you may not include the term "Batterymarch Financial," "Batterymarch Financial Management, Inc." or any Batterymarch trademark or executive's name, or any variation of the foregoing, as a meta-tag, hidden textual element or use this website or any of its content in any manner that could create the impression of an affiliation, sponsorship or endorsement by Batterymarch.

You may not, without the express written permission of Batterymarch, use any robot, spider, intelligent agent, other automatic device or manual process to search, monitor or copy this website or the reports, data, information, content, software, products or services, or other materials on, generated by or obtained from this website, whether through links or otherwise, provided that generally available third-party web browsers may be used without such permission. You may not attempt to probe, scan or test the vulnerability of this website or to breach security or authentication measures without proper authorization.

GOVERNING LAW AND SEVERABILITY
These Terms will be governed and construed under the laws of the Commonwealth of Massachusetts without regard to its conflict of law principles, regardless of whether you reside in Massachusetts or transact business with Batterymarch in Massachusetts or elsewhere. Nothing in these Terms creates any rights or protections that you are not already entitled to by law. If any provision of these Terms is deemed unlawful, void or for any reason unenforceable or waived, then that provision will be deemed severable from these Terms and will not affect the validity and enforceability of the remaining provisions.

Registration with the U.S. Securities and Exchange Commission does not imply that an adviser has attained a particular level of skill or training.