SAND SPRING ADVISORS - Key Persons

Barclay T. Leib, age 57, principal and founder of Sand Spring Advisors LLC -- a financial advisory firm based in Morristown, NJ-- has over 34 years experience trading in the global capital markets. A 1981 Wilson Scholar graduate of Princeton University's Woodrow Wilson School of International and Public Affairs, Mr. Leib began his career at J.P. Morgan where he ran Commodity and Foreign Exchange Derivatives Trading until the end of 1986. In 1987 he accepted a position as First Vice President and head of the Proprietary Trading and Arbitrage Group within PaineWebber's Fixed Income Department. In 1989 he moved to J. Aron Goldman Sachs where he was a senior member of their global currency and commodity option trading teams until the end of 1992. Mr. Leib shifted primarily to strategy and hedge fund sales work between 1993 and 1998 working first as a Vice President in Foreign Exchange Options Trading at Barclays Bank and then later at Societe Generale. More recently, he consulted to institutional clients as the Head of Alternatives Research at Fortigent, LLC between 2012 and 2013. Throughout all of his years on trading floors, Mr. Leib worked extensively not only with derivatives, but also with systemitized trading models and technical trading methodologies. Prior to founding Sand Spring Advisors in late 1999, Mr. Leib became a full-time market analyst and financial writer for the Princeton Economic Institute. He has also written on financial markets on a freelance basis for Institutional Investor, Derivatives Strategy, Hedgeworld.com, PrudentBear.com, Bloomberg, Plan Sponsor, Global Custodian, Treasury & Risk Management, and Financial Executive. Mr. Leib technical trading style was featured in the 2009 book Technical Analysis & Behavioral Finance in Fund Management. More recently, until 2012, Mr. Leib was the Head Trader at global long-short equity manager Glenrock Asset Management LLC. Education Princeton University, A.B. 1981