RE: Broker Agreements

Mark,

I have reviewed and revised the Broker Electronic Trading Agreement and Fee
Agreement drafts that you last sent to me and attached the revised drafts
with marked changes.? With a fresh eye, I have identified (and hopefully
eliminated) some confusion in the use of terms, as described in the attached
cover memo.?

Note that some of the highlighted material in these documents reflects your
original changes.? I made two rounds of changes, that should be set off in
different colors from yours, and from each other.

Please let me know if you have questions and comments and, when you get a
chance, the status of the overall effort.

Many thanks,

Bob

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- M Taylor Cover Memo.doc
- BROKER ELECTRONIC TRANSACTION AGREEMENT 3.doc
- BFA RFL comments.doc