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w (or revised) laws or regulations may be imposed by the U.S. Commodity Futures Trading Commission (the "CFTC"), the SEC, the Board of Governors of the Federal Reserve System (the "Federal Reserve") or other banking regulators, other U.S. or non-U.S. governmental regulatory authorities or self-regulatory organizations, in
will be payable out of the Administrative Fee. UNDERLYING FUND A performance allocation of 20% of any net profit (determined net PERFORMANCE of the Underlying Fund Management Fee as described herein) (the ALLOCATION "Underlying Fund Performance Allocation") will be charged annually, as further described in and subject to ad
w (or revised) laws or regulations may be imposed by the U.S. Commodity Futures Trading Commission (the "CFTC"), the SEC, the Board of Governors of the Federal Reserve System (the "Federal Reserve") or other banking regulators, other U.S. or non-U.S. governmental regulatory authorities or self-regulatory organizations, i
will not be charged a Placement Fee. UNDERLYING FUND A performance allocation of 20% of any net profit (determined PERFORMANCE ALLOCATION net of the Underlying Fund Management Fee as described herein) (the "Underlying Fund Performance Allocation") will be charged annually, as further described in and subject to additional t
w (or revised) laws or regulations may be imposed by the U.S. Commodity Futures Trading Commission (the "CFTC"), the SEC, the Board of Governors of the Federal Reserve System (the "Federal Reserve") or other banking regulators, other U.S. or non-U.S. governmental regulatory authorities or self-regulatory organizations, i
will not be charged a Placement Fee. UNDERLYING FUND A performance allocation of 2O% of any net profit (determined PERFORMANCE ALLOCATION net of the Underlying Fund Management Fee as described herein) (the "Underlying Fund Performance Allocation") will be charged annually, as further described in and subject to additional t
Entities connected to both the Federal Reserve System and the Underlying Fund Management Fee

United States
LOCATION
the Internal Revenue Service
ORGANIZATION
U.S. Treasury
ORGANIZATION
Federal Reserve
ORGANIZATIONthe District of Columbia
LOCATION
New York
LOCATIONErnst & Young LLP
ORGANIZATIONCayman
LOCATION
UBS AG
ORGANIZATIONBank Holding Company Act Considerations
ORGANIZATIONthe Investor Application
ORGANIZATIONClasses of Interests
ORGANIZATION
Ghislaine Maxwell
PERSONthe U.S. Department of Labor
ORGANIZATION
Paul Volcker
PERSONthe New York Stock Exchange
ORGANIZATIONUBS Institutional Consulting
ORGANIZATIONNo Assurance of Investment Return
ORGANIZATIONManagement of Millennium USA
ORGANIZATIONCustodian
ORGANIZATION