Cost value per unit for the participant and cost value for the funds

(a) Each participant's initial cost value per unit shall be determined by dividing the total cost of each participant's applicable contributions by the number of units which has been distributed for those contributions. (b) The initial cost value of each contribution of each participant shall be transferred to the combined investment funds and shall become the cost of that contribution in the combined investment funds. The sum total of all the cost values of all the contributions shall equal the sum total of the cost values per unit as described in (a) above. (c) All transactions involving the combined investment funds made after initial cost values of the assets have been established will affect the cost value of the funds but will not change the cost value per unit of the participants. Cost value of the participant will change when new participant contributions or redemptions are made.