{"id":11579,"date":"2024-08-20T09:50:19","date_gmt":"2024-08-20T09:50:19","guid":{"rendered":"https:\/\/www.ewmglobal.com\/site\/?p=11579"},"modified":"2024-08-20T15:32:45","modified_gmt":"2024-08-20T15:32:45","slug":"the-modern-landscape-of-carried-interest","status":"publish","type":"post","link":"https:\/\/www.ewmglobal.com\/site\/the-modern-landscape-of-carried-interest\/","title":{"rendered":"The Modern Landscape of Carried Interest"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"11579\" class=\"elementor elementor-11579\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-62bbf98 elementor-section-full_width elementor-section-height-min-height elementor-section-stretched elementor-section-height-default elementor-section-items-middle\" data-id=\"62bbf98\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b7c8485\" data-id=\"b7c8485\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7289312 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7289312\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-0e356f8\" data-id=\"0e356f8\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b14fc39 elementor-widget elementor-widget-spacer\" data-id=\"b14fc39\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e40872 elementor-widget-tablet__width-initial elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"5e40872\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The Modern Landscape of Carried Interest<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a9525a elementor-widget elementor-widget-text-editor\" data-id=\"3a9525a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In July, EWM Global hosted its inaugural round table event in New York City, uniting compensation professionals from boutique to large private capital firms. This gathering offered a platform to discuss the latest trends in carried interest and co-investment administration, and provided valuable insights into evolving strategies and practices. This article highlights the key discussion points on carried interest administration from the event, exploring the variations among firms. Stay tuned for a forthcoming article focusing on the co-investment topics discussed.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1f7db2 elementor-widget elementor-widget-author-box\" data-id=\"f1f7db2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-author-box\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.linkedin.com\/in\/james-bradnam\/\" class=\"elementor-author-box__avatar\">\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.ewmglobal.com\/site\/wp-content\/uploads\/2024\/07\/James-Bradnam-300x300.jpg\" alt=\"Picture of James Bradnam\" loading=\"lazy\">\n\t\t\t\t<\/a>\n\t\t\t\n\t\t\t<div class=\"elementor-author-box__text\">\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.linkedin.com\/in\/james-bradnam\/\">\n\t\t\t\t\t\t<h4 class=\"elementor-author-box__name\">\n\t\t\t\t\t\t\tJames Bradnam\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t<\/a>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-author-box__bio\">\n\t\t\t\t\t\t<p>Marketing Director<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6ee9aa elementor-widget elementor-widget-post-info\" data-id=\"e6ee9aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-08ee73c elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-calendar\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>August 20, 2024<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4533ebf elementor-share-buttons--view-icon elementor-share-buttons--shape-rounded elementor-share-buttons--skin-gradient elementor-grid-0 elementor-share-buttons--color-official elementor-widget elementor-widget-share-buttons\" data-id=\"4533ebf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"share-buttons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-grid\" role=\"list\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_linkedin\" role=\"button\" tabindex=\"0\" aria-label=\"Share on linkedin\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span 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aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-30c44f5\" data-id=\"30c44f5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d03e77d elementor-widget elementor-widget-spacer\" data-id=\"d03e77d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5296b28 elementor-widget elementor-widget-heading\" data-id=\"5296b28\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Contact Us<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-745c672 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"745c672\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d7e0adb elementor-widget elementor-widget-author-box\" data-id=\"d7e0adb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"author-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-author-box\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.linkedin.com\/in\/dominic-elias-6805307\/\" class=\"elementor-author-box__avatar\">\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.ewmglobal.com\/site\/wp-content\/uploads\/2023\/03\/DE-Headshot-e1721914107396-293x300.jpg\" alt=\"Picture of Dominic Elias\" loading=\"lazy\">\n\t\t\t\t<\/a>\n\t\t\t\n\t\t\t<div class=\"elementor-author-box__text\">\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.linkedin.com\/in\/dominic-elias-6805307\/\">\n\t\t\t\t\t\t<h4 class=\"elementor-author-box__name\">\n\t\t\t\t\t\t\tDominic Elias\t\t\t\t\t\t<\/h4>\n\t\t\t\t\t<\/a>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-author-box__bio\">\n\t\t\t\t\t\t<p>Chief Advisory Officer<\/p>\n<p>dominic.elias@ewmglobal.com<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0dc0a83 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0dc0a83\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a5005dc\" data-id=\"a5005dc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b057029 elementor-widget elementor-widget-spacer\" data-id=\"b057029\" 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text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"header\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"footer\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index heading\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"35\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"caption\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"table of figures\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"envelope address\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"envelope return\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"footnote reference\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"annotation reference\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"line number\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"page number\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"endnote reference\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"endnote text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"table of authorities\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"macro\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toa heading\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"10\" QFormat=\"true\" Name=\"Title\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Closing\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Signature\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"1\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Default Paragraph Font\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text Indent\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Message Header\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"11\" QFormat=\"true\" Name=\"Subtitle\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Salutation\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Date\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text First Indent\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text First Indent 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Note Heading\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text Indent 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text Indent 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Block Text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Hyperlink\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"FollowedHyperlink\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"22\" QFormat=\"true\" Name=\"Strong\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"20\" QFormat=\"true\" Name=\"Emphasis\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Document Map\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Plain Text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"E-mail Signature\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Top of Form\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Bottom of Form\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Normal (Web)\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Acronym\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Address\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Cite\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Code\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Definition\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Keyboard\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Preformatted\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Sample\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Typewriter\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Variable\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Normal Table\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"annotation subject\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"No List\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Outline List 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Outline List 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Outline List 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Simple 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Simple 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Simple 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Classic 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Classic 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Classic 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Classic 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Colorful 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Colorful 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Colorful 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 6\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 7\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 8\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 6\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 7\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 8\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table 3D effects 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table 3D effects 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table 3D effects 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Contemporary\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Elegant\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Professional\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Subtle 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Subtle 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Web 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Web 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Web 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Balloon Text\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" Name=\"Table Grid\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Theme\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" Name=\"Placeholder Text\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"1\" QFormat=\"true\" Name=\"No Spacing\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" Name=\"Revision\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"34\" QFormat=\"true\" Name=\"List Paragraph\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"29\" QFormat=\"true\" Name=\"Quote\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"30\" QFormat=\"true\" Name=\"Intense Quote\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"19\" QFormat=\"true\" Name=\"Subtle Emphasis\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"21\" QFormat=\"true\" Name=\"Intense Emphasis\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"31\" QFormat=\"true\" Name=\"Subtle Reference\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"32\" QFormat=\"true\" Name=\"Intense Reference\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"33\" QFormat=\"true\" Name=\"Book Title\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"37\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Bibliography\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"TOC Heading\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"41\" Name=\"Plain Table 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"42\" Name=\"Plain Table 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"43\" Name=\"Plain Table 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"44\" Name=\"Plain Table 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"45\" Name=\"Plain Table 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"40\" Name=\"Grid Table Light\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 6\"\/><br \/> <\/w:LatentStyles><br \/><\/xml><![endif]--><!-- [if gte mso 10]><\/p>\n<style>\n \/* Style Definitions *\/<br \/> table.MsoNormalTable<br \/>\t{mso-style-name:\"Table Normal\";<br \/>\tmso-tstyle-rowband-size:0;<br \/>\tmso-tstyle-colband-size:0;<br \/>\tmso-style-noshow:yes;<br \/>\tmso-style-priority:99;<br \/>\tmso-style-parent:\"\";<br \/>\tmso-padding-alt:0in 5.4pt 0in 5.4pt;<br \/>\tmso-para-margin-top:0in;<br \/>\tmso-para-margin-right:0in;<br \/>\tmso-para-margin-bottom:10.0pt;<br \/>\tmso-para-margin-left:0in;<br \/>\tline-height:115%;<br \/>\tmso-pagination:widow-orphan;<br \/>\tfont-size:10.0pt;<br \/>\tmso-bidi-font-size:11.0pt;<br \/>\tfont-family:\"Arial\",sans-serif;}<br \/><\/style>\n<p><![endif]--><\/p><p class=\"MsoNormal\" style=\"text-align: justify; line-height: normal;\"><i style=\"mso-bidi-font-style: normal;\"><span style=\"font-size: 10.0pt; mso-bidi-font-size: 11.0pt;\">The information presented in this article is based on discussions and findings from a round table event hosted by EWM Global on July 10<sup>th<\/sup>, 2024. The views expressed herein do not necessarily represent the official views or opinions of EWM Global. EWM Global is not in the business of providing tax, legal or accounting advice, and we recommend seeking Counsel to address your specific circumstances.<\/span><\/i><\/p><h5><strong>Approaches to Allocation<\/strong><\/h5><h6><u style=\"font-weight: normal;\">Allocation Process<\/u><\/h6><p><!-- [if gte mso 9]><xml><br \/> <w:WordDocument><br \/>  <w:View>Normal<\/w:View><br \/>  <w:Zoom>0<\/w:Zoom><br \/>  <w:TrackMoves\/><br \/>  <w:TrackFormatting\/><br \/>  <w:PunctuationKerning\/><br \/>  <w:ValidateAgainstSchemas\/><br \/>  <w:SaveIfXMLInvalid>false<\/w:SaveIfXMLInvalid><br \/>  <w:IgnoreMixedContent>false<\/w:IgnoreMixedContent><br \/>  <w:AlwaysShowPlaceholderText>false<\/w:AlwaysShowPlaceholderText><br \/>  <w:DoNotPromoteQF\/><br \/>  <w:LidThemeOther>EN-US<\/w:LidThemeOther><br \/>  <w:LidThemeAsian>X-NONE<\/w:LidThemeAsian><br \/>  <w:LidThemeComplexScript>X-NONE<\/w:LidThemeComplexScript><br \/>  <w:Compatibility><br \/>   <w:BreakWrappedTables\/><br \/>   <w:SnapToGridInCell\/><br \/>   <w:WrapTextWithPunct\/><br \/>   <w:UseAsianBreakRules\/><br \/>   <w:DontGrowAutofit\/><br \/>   <w:SplitPgBreakAndParaMark\/><br \/>   <w:EnableOpenTypeKerning\/><br \/>   <w:DontFlipMirrorIndents\/><br \/>   <w:OverrideTableStyleHps\/><br \/>  <\/w:Compatibility><br \/>  <m:mathPr><br \/>   <m:mathFont m:val=\"Cambria Math\"\/><br \/>   <m:brkBin m:val=\"before\"\/><br \/>   <m:brkBinSub m:val=\"&#45;-\"\/><br \/>   <m:smallFrac m:val=\"off\"\/><br \/>   <m:dispDef\/><br \/>   <m:lMargin m:val=\"0\"\/><br \/>   <m:rMargin m:val=\"0\"\/><br \/>   <m:defJc m:val=\"centerGroup\"\/><br \/>   <m:wrapIndent m:val=\"1440\"\/><br \/>   <m:intLim m:val=\"subSup\"\/><br \/>   <m:naryLim m:val=\"undOvr\"\/><br \/>  <\/m:mathPr><\/w:WordDocument><br \/><\/xml><![endif]--><!-- [if gte mso 9]><xml><br \/> <w:LatentStyles DefLockedState=\"false\" DefUnhideWhenUsed=\"false\" DefSemiHidden=\"false\" DefQFormat=\"false\" DefPriority=\"99\" LatentStyleCount=\"371\"><br \/>  <w:LsdException Locked=\"false\" Priority=\"0\" QFormat=\"true\" Name=\"Normal\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" QFormat=\"true\" Name=\"heading 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"heading 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"heading 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"heading 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"heading 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"heading 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"heading 7\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"heading 8\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"9\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"heading 9\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 6\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 7\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 8\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index 9\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 7\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 8\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toc 9\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Normal Indent\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"footnote text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"annotation text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"header\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"footer\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"index heading\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"35\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"caption\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"table of figures\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"envelope address\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"envelope return\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"footnote reference\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"annotation reference\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"line number\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"page number\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"endnote reference\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"endnote text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"table of authorities\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"macro\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"toa heading\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Bullet 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Number 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"10\" QFormat=\"true\" Name=\"Title\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Closing\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Signature\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"1\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Default Paragraph Font\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text Indent\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"List Continue 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Message Header\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"11\" QFormat=\"true\" Name=\"Subtitle\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Salutation\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Date\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text First Indent\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text First Indent 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Note Heading\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text Indent 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Body Text Indent 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Block Text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Hyperlink\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"FollowedHyperlink\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"22\" QFormat=\"true\" Name=\"Strong\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"20\" QFormat=\"true\" Name=\"Emphasis\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Document Map\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Plain Text\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"E-mail Signature\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Top of Form\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Bottom of Form\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Normal (Web)\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Acronym\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Address\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Cite\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Code\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Definition\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Keyboard\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Preformatted\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Sample\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Typewriter\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"HTML Variable\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Normal Table\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"annotation subject\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"No List\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Outline List 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Outline List 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Outline List 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Simple 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Simple 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Simple 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Classic 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Classic 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Classic 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Classic 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Colorful 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Colorful 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Colorful 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Columns 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 6\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 7\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Grid 8\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 4\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 5\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 6\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 7\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table List 8\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table 3D effects 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table 3D effects 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table 3D effects 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Contemporary\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Elegant\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Professional\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Subtle 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Subtle 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Web 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Web 2\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Web 3\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Balloon Text\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" Name=\"Table Grid\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Table Theme\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" Name=\"Placeholder Text\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"1\" QFormat=\"true\" Name=\"No Spacing\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" SemiHidden=\"true\" Name=\"Revision\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"34\" QFormat=\"true\" Name=\"List Paragraph\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"29\" QFormat=\"true\" Name=\"Quote\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"30\" QFormat=\"true\" Name=\"Intense Quote\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"60\" Name=\"Light Shading Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"61\" Name=\"Light List Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"62\" Name=\"Light Grid Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"63\" Name=\"Medium Shading 1 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"64\" Name=\"Medium Shading 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"65\" Name=\"Medium List 1 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"66\" Name=\"Medium List 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"67\" Name=\"Medium Grid 1 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"68\" Name=\"Medium Grid 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"69\" Name=\"Medium Grid 3 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"70\" Name=\"Dark List Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"71\" Name=\"Colorful Shading Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"72\" Name=\"Colorful List Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"73\" Name=\"Colorful Grid Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"19\" QFormat=\"true\" Name=\"Subtle Emphasis\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"21\" QFormat=\"true\" Name=\"Intense Emphasis\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"31\" QFormat=\"true\" Name=\"Subtle Reference\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"32\" QFormat=\"true\" Name=\"Intense Reference\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"33\" QFormat=\"true\" Name=\"Book Title\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"37\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" Name=\"Bibliography\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"39\" SemiHidden=\"true\" UnhideWhenUsed=\"true\" QFormat=\"true\" Name=\"TOC Heading\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"41\" Name=\"Plain Table 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"42\" Name=\"Plain Table 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"43\" Name=\"Plain Table 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"44\" Name=\"Plain Table 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"45\" Name=\"Plain Table 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"40\" Name=\"Grid Table Light\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"Grid Table 7 Colorful Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"Grid Table 1 Light Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"Grid Table 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"Grid Table 3 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"Grid Table 4 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"Grid Table 5 Dark Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"Grid Table 6 Colorful Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" 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Name=\"List Table 4 Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 1\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 2\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 3\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 4\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 5\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"46\" Name=\"List Table 1 Light Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"47\" Name=\"List Table 2 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"48\" Name=\"List Table 3 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"49\" Name=\"List Table 4 Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"50\" Name=\"List Table 5 Dark Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"51\" Name=\"List Table 6 Colorful Accent 6\"\/><br \/>  <w:LsdException Locked=\"false\" Priority=\"52\" Name=\"List Table 7 Colorful Accent 6\"\/><br \/> <\/w:LatentStyles><br \/><\/xml><![endif]--><!-- [if gte mso 10]><\/p>\n<style>\n \/* Style Definitions *\/<br \/> table.MsoNormalTable<br \/>\t{mso-style-name:\"Table Normal\";<br \/>\tmso-tstyle-rowband-size:0;<br \/>\tmso-tstyle-colband-size:0;<br \/>\tmso-style-noshow:yes;<br \/>\tmso-style-priority:99;<br \/>\tmso-style-parent:\"\";<br \/>\tmso-padding-alt:0in 5.4pt 0in 5.4pt;<br \/>\tmso-para-margin-top:0in;<br \/>\tmso-para-margin-right:0in;<br \/>\tmso-para-margin-bottom:10.0pt;<br \/>\tmso-para-margin-left:0in;<br \/>\tline-height:115%;<br \/>\tmso-pagination:widow-orphan;<br \/>\tfont-size:10.0pt;<br \/>\tmso-bidi-font-size:11.0pt;<br \/>\tfont-family:\"Arial\",sans-serif;}<br \/><\/style>\n<p><![endif]--><\/p><p>The allocation of carried interest within private equity and investment firms is largely dictated by the firm&#8217;s overall strategy, investment time horizon, and the proportion of carry retained by the &#8220;House&#8221; account. There was an agreement among participating firms that the allocation process typically commences at the top of the organization with the head of the business unit and cascades down the hierarchy, aligning with the roles and available market data associated with each level. Investment team members primarily receive carry, derived from a team pool, while support functions typically do not. On the rare occasion that supporting roles receive carry, there is a split in approach regarding whether this allocation comes from the House or the Team pool. However, allocating from the House share has the advantage of maintaining a clear distinction between investment and non-investment roles.<\/p><h6><u style=\"font-weight: normal;\">Junior Staff Involvement<\/u><\/h6><p>There is a push to include analysts and associates in carry allocations, but the general consensus is that Vice Presidents (VPs) should be the minimum level to receive carry, with exceptions for high-performing associates or analysts. It was noted that larger firms are more likely to include associates in carry than boutique firms.<\/p><p>The notion of allocating carry to junior employees was viewed as problematic, due to the fact that this group often do not fully understand or appreciate the program, and view its cost and administrative burden as significant. Junior employees tend to prefer immediate cash bonuses over long-term incentives. Implementing a phantom plan or offering larger bonuses was discussed as a practical alternative. High turnover among junior staff further complicates administration, making senior associates better candidates for carry awards due to their higher likelihood of remaining with the firm.<\/p><p>However, junior candidates are increasingly expecting carry participation, influenced by practices at larger firms, which is reshaping industry norms. To attract talent from these larger organizations, boutique firms are under pressure to broaden carry eligibility, impacting their overall allocation policies.<\/p><h6><u style=\"font-weight: normal;\">Including Risk, HR, and Finance in Carry Allocation<\/u><\/h6><p>Including individuals in control functions such as Risk, HR, and Finance in carry allocations can lead to conflicts of interest, as their objectivity and impartiality may be compromised by fund performance incentives. While boutique firms outlined that they may involve these roles in carry to enhance competitiveness and attractiveness, representatives from larger firms noted that they often face stricter regulations and greater scrutiny, limiting their ability to do so.<\/p><h5><strong>The Rising Popularity of Phantom Carry<\/strong><\/h5><p>Phantom or shadow carry replicates the benefits of actual carried interest without transferring ownership or equity stakes. It uses notional accounts to share profits based on fund performance and defers taxable income until distributions are made. This approach offers a flexible and administratively simpler alternative to direct carry, aligning incentives without the complexities of equity transfers.<\/p><p>While tax savings are important in carry plans, the rise of phantom awards underscores the need for flexibility throughout a fund&#8217;s life. Firms often start with direct carry schemes but increasingly adopt phantom awards when direct carry is too costly or complex. Phantom schemes are particularly appealing to junior employees, who may find the upfront cost of direct carry prohibitive. Firms are recognizing that the ability to adapt carry awards is as crucial as tax benefits.<\/p><p>Phantom carry is especially common in jurisdictions with complex capital gains tax treatment or in larger organizations with global operations. The diverse characterizations of carried interest across regions complicate the administration of global direct carry plans, leading larger firms to adopt phantom carry more frequently than boutique firms, sometimes structuring entire strategies around it.<\/p><p>Dominic Elias, Chief Advisory Officer at EWM Advisory commented: \u201cStructuring for optimal tax treatment in the country of each participant can entail a significant amount of time and cost, and the end result is still highly varied across participants in different locations. For this reason, many firms will choose to structure their operations to optimize tax benefits for the country where the majority of the participants reside and only adjust for others when required to do so for regulatory reasons. Many will opt for a phantom plan to take advantage of the significant management and administrative benefits\u201d.<\/p><h5><strong>Handling of \u2018In-the-Money\u2019 Awards<\/strong><\/h5><p>Allocating carried interest points promptly is crucial to avoid the tax consequences associated with points that have amassed value prior to allocation, sometimes referred to as \u2018built-in-gains\u2019. Once an investment surpasses the predefined hurdle rate, any awards of \u00a0&#8216;in the money&#8217; carry are typically taxed as ordinary income rather than capital gains, leading to significant potential tax burdens for recipients.<\/p><p>Two strategies are being deployed by firms to minimize the tax consequences of \u2018in-the-money\u2019 awards, while ensuring compliance and maximizing the economic value of carry allocations:<\/p><p><strong>A) Redistribution Of Forfeited Points<\/strong><\/p><p><span style=\"text-decoration: underline;\">Pro Rata Reallocation<\/span><\/p><p>In this approach, forfeited points are redistributed to remaining participants on a pro rata basis, ensuring that each active participant&#8217;s relative proportion of ownership remains unchanged. The proportionality of the points must remain consistent with the original allocation to retain the desired tax treatment.<\/p><p><span style=\"text-decoration: underline;\">Removal of Forfeited Points from the Point Pool<\/span><\/p><p>Alternatively, forfeited points may be permanently removed from the overall point pool. Under this method, while the total number of points decreases, each active participant\u2019s relative proportion remains the same. This ensures that the relative ownership among participants is preserved despite the reduction in the total number of available points.<\/p><p><strong>B) Notching<\/strong><\/p><p>Notching adjusts points to a new cost basis, which can be complex to manage. This strategy ensures that the future value of an award is taxed at a lower capital gains rate. The \u2018in-the-money\u2019 amount can either be retained within the organization for bonuses or distributed to employees as taxable income.<\/p><p>One strategy discussed was to hold a reserve at the outset, ensuring that points are then allocated before they are &#8220;in the money.&#8221; If this is not feasible, one of the aforementioned methods must be utilized. If the notch is excessively high or administratively burdensome, the remaining carry points can be managed as phantom carry, a commonly practiced approach.<\/p><h5><strong>The Dynamics of Buying Out Carry for New Hires<\/strong><\/h5><p>In public companies, it is relatively straightforward to assess the compensation that candidates are forfeiting when they join a new firm. This transparency of equity awards allows for more accurate adjustments to compensation packages. In contrast, the private market often lacks clear information on the carry that candidates are relinquishing, making it challenging to identify and verify these amounts.<\/p><p>Generally, buying out carried interest was not reported to be a common practice among participating firms. Instead, it seems to be preferable to replace the forfeited carry with alternative forms of compensation. This can include offering new carry allocations, providing equity, or introducing other incentives that align with the firm&#8217;s goals. By doing so, firms can create a competitive compensation package that recognizes the value of the candidate&#8217;s forfeited interests while ensuring alignment with the new organization\u2019s incentive structures.<\/p><p>If managing carried interest plans is central to your role, we encourage you to sign up for future EWM Global round table events by <a href=\"https:\/\/www.ewmglobal.com\/site\/ewm-round-table-networking-events\/\">clicking here<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-62480d8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"62480d8\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9b0a09f\" data-id=\"9b0a09f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f923a03 elementor-widget elementor-widget-heading\" data-id=\"f923a03\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">YOU MIGHT ALSO LIKE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-76aa321 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"76aa321\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9da2051 anwp-pg-widget-header-style--b anwp-pg-post-teaser__post-icon--size-16 elementor-pagination-position-outside elementor-widget elementor-widget-anwp-pg-classic-slider\" data-id=\"9da2051\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"anwp-pg-classic-slider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"anwp-pg-wrap\">\n\n\t\n\t<!-- Slider main container -->\n\t<div\n\t\tclass=\"anwp-pg-classic-slider anwp-pg-swiper-wrapper position-static swiper swiper-container anwp-pg-no-transform\"\n\t\tdata-pg-slides-per-view=\"3\"\n\t\tdata-pg-slides-per-view-mobile=\"1\"\n\t\tdata-pg-slides-per-view-tablet=\"2\"\n\t\tdata-pg-slides-per-group=\"1\"\n\t\tdata-pg-slides-per-group-mobile=\"1\"\n\t\tdata-pg-slides-per-group-tablet=\"1\"\n\t\tdata-pg-autoplay=\"no\"\n\t\tdata-pg-autoplay-delay=\"\"\n\t\tdata-pg-space-between=\"27\"\n\t\tdata-pg-effect=\"slide\"\n\t\tdata-pg-show-read-more=\"no\"\n\t\tdata-pg-enable-observer=\"no\"\n\t\tdata-pg-loop=\"no\"\n\t\tdir=\"ltr\"\n\t>\n\t\t<!-- Additional required wrapper -->\n\t\t<div class=\"swiper-wrapper\">\n\t\t\t<!-- Slides -->\n\t\t\t<div class=\"anwp-pg-post-teaser anwp-pg-post-teaser--inner-cover-link anwp-pg-post-teaser--layout-d d-flex flex-column swiper-slide\">\n\t<div class=\"anwp-pg-post-teaser__thumbnail position-relative\">\n\n\t\t\t\t\t<div class=\"anwp-pg-post-teaser__top-meta d-flex flex-column anwp-pg-post-teaser__category-column mr-auto\">\n\t\t\t\t<div class=\"anwp-pg-category__wrapper-filled px-2 d-flex align-items-center anwp-pg-post-teaser__category-wrapper align-self-start anwp-pg-category-parent-0\" style=\"background-color: #1565C0\"><span>Industry Insights<\/span><\/div>\t\t\t<\/div>\n\t\t\t\n\t\t\n\t\t\t\t\t<img loading=\"lazy\" class=\"anwp-pg-post-teaser__thumbnail-img d-block anwp-pg-height-210 anwp-object-cover m-0 w-100\"\n\t\t\t\talt=\"Broadening Carry Participation: A Growing Norm\"\n\t\t\t\tsrc=\"https:\/\/www.ewmglobal.com\/site\/wp-content\/uploads\/2026\/02\/Picture2-1024x738.png\"\/>\n\t\t\n\t\t<div class=\"anwp-pg-post-teaser__thumbnail-bg anwp-position-cover\"><\/div>\n\n\t\t<a class=\"anwp-position-cover anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/broadening-carried-interest-participation\/\" aria-hidden=\"true\" ><\/a>\n\t<\/div>\n\n\t<div class=\"anwp-pg-post-teaser__content flex-grow-1 pt-1 d-flex flex-column\">\n\n\t\t<div class=\"anwp-pg-post-teaser__title anwp-font-heading mt-2\">\n\t\t\t<a class=\"anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/broadening-carried-interest-participation\/\" aria-hidden=\"true\" >\n\t\t\t\tBroadening Carry Participation: A Growing Norm\t\t\t<\/a>\n\t\t<\/div>\n\n\t\t<div class=\"anwp-pg-post-teaser__bottom-meta d-flex flex-wrap\">\n\n\t\t\t\t\t\t\t<div class=\"anwp-pg-post-teaser__bottom-meta-item d-flex align-items-center mr-3\">\n\t\t\t\t\t<svg class=\"anwp-pg-icon anwp-pg-icon--s16 mr-1\">\n\t\t\t\t\t\t<use xlink:href=\"#icon-anwp-pg-calendar\"><\/use>\n\t\t\t\t\t<\/svg>\n\t\t\t\t\t<span class=\"posted-on m-0\"><span class=\"screen-reader-text\">Posted on<\/span><time class=\"anwp-pg-published\" datetime=\"2026-02-26T17:38:07+00:00\">February 26, 2026<\/time><time class=\"anwp-pg-updated\" datetime=\"2026-04-02T20:34:40+00:00\">April 2, 2026<\/time><\/span>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\n\t\t\n\t<\/div>\n\n<\/div>\n<div class=\"anwp-pg-post-teaser anwp-pg-post-teaser--inner-cover-link anwp-pg-post-teaser--layout-d d-flex flex-column swiper-slide\">\n\t<div class=\"anwp-pg-post-teaser__thumbnail position-relative\">\n\n\t\t\t\t\t<div class=\"anwp-pg-post-teaser__top-meta d-flex flex-column anwp-pg-post-teaser__category-column mr-auto\">\n\t\t\t\t<div class=\"anwp-pg-category__wrapper-filled px-2 d-flex align-items-center anwp-pg-post-teaser__category-wrapper align-self-start anwp-pg-category-parent-0\" style=\"background-color: #1565C0\"><span>Company News<\/span><\/div><div class=\"anwp-pg-category__wrapper-filled px-2 d-flex align-items-center anwp-pg-post-teaser__category-wrapper align-self-start anwp-pg-category-parent-30\" style=\"background-color: #1565C0\"><span>Conferences &amp; Events<\/span><\/div>\t\t\t<\/div>\n\t\t\t\n\t\t\n\t\t\t\t\t<img loading=\"lazy\" class=\"anwp-pg-post-teaser__thumbnail-img d-block anwp-pg-height-210 anwp-object-cover m-0 w-100\"\n\t\t\t\talt=\"EWM Global Speaks During the World Economic Forum 2026 in Davos\"\n\t\t\t\tsrc=\"https:\/\/www.ewmglobal.com\/site\/wp-content\/uploads\/2026\/01\/Davos-Thumbnail-1024x576.png\"\/>\n\t\t\n\t\t<div class=\"anwp-pg-post-teaser__thumbnail-bg anwp-position-cover\"><\/div>\n\n\t\t<a class=\"anwp-position-cover anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/2026-world-economic-forum-davos-interview-with-ewm-global\/\" aria-hidden=\"true\" ><\/a>\n\t<\/div>\n\n\t<div class=\"anwp-pg-post-teaser__content flex-grow-1 pt-1 d-flex flex-column\">\n\n\t\t<div class=\"anwp-pg-post-teaser__title anwp-font-heading mt-2\">\n\t\t\t<a class=\"anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/2026-world-economic-forum-davos-interview-with-ewm-global\/\" aria-hidden=\"true\" >\n\t\t\t\tEWM Global Speaks During the World Economic Forum 2026 in Davos\t\t\t<\/a>\n\t\t<\/div>\n\n\t\t<div class=\"anwp-pg-post-teaser__bottom-meta d-flex flex-wrap\">\n\n\t\t\t\t\t\t\t<div class=\"anwp-pg-post-teaser__bottom-meta-item d-flex align-items-center mr-3\">\n\t\t\t\t\t<svg class=\"anwp-pg-icon anwp-pg-icon--s16 mr-1\">\n\t\t\t\t\t\t<use xlink:href=\"#icon-anwp-pg-calendar\"><\/use>\n\t\t\t\t\t<\/svg>\n\t\t\t\t\t<span class=\"posted-on m-0\"><span class=\"screen-reader-text\">Posted on<\/span><time class=\"anwp-pg-published\" datetime=\"2026-01-27T17:06:52+00:00\">January 27, 2026<\/time><time class=\"anwp-pg-updated\" datetime=\"2026-02-26T15:38:50+00:00\">February 26, 2026<\/time><\/span>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\n\t\t\n\t<\/div>\n\n<\/div>\n<div class=\"anwp-pg-post-teaser anwp-pg-post-teaser--inner-cover-link anwp-pg-post-teaser--layout-d d-flex flex-column swiper-slide\">\n\t<div class=\"anwp-pg-post-teaser__thumbnail position-relative\">\n\n\t\t\t\t\t<div class=\"anwp-pg-post-teaser__top-meta d-flex flex-column anwp-pg-post-teaser__category-column mr-auto\">\n\t\t\t\t<div class=\"anwp-pg-category__wrapper-filled px-2 d-flex align-items-center anwp-pg-post-teaser__category-wrapper align-self-start anwp-pg-category-parent-0\" style=\"background-color: #1565C0\"><span>Industry Insights<\/span><\/div>\t\t\t<\/div>\n\t\t\t\n\t\t\n\t\t\t\t\t<img loading=\"lazy\" class=\"anwp-pg-post-teaser__thumbnail-img d-block anwp-pg-height-210 anwp-object-cover m-0 w-100\"\n\t\t\t\talt=\"The Hidden Influence Shaping Behavior in the Financial Markets: Incentive and Retention Framework\"\n\t\t\t\tsrc=\"https:\/\/www.ewmglobal.com\/site\/wp-content\/uploads\/2026\/01\/EWM-Global-Thumbnail-1-1024x576.png\"\/>\n\t\t\n\t\t<div class=\"anwp-pg-post-teaser__thumbnail-bg anwp-position-cover\"><\/div>\n\n\t\t<a class=\"anwp-position-cover anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/the-hidden-influence-shaping-behavior-in-the-financial-markets-incentive-and-retention-framework\/\" aria-hidden=\"true\" ><\/a>\n\t<\/div>\n\n\t<div class=\"anwp-pg-post-teaser__content flex-grow-1 pt-1 d-flex flex-column\">\n\n\t\t<div class=\"anwp-pg-post-teaser__title anwp-font-heading mt-2\">\n\t\t\t<a class=\"anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/the-hidden-influence-shaping-behavior-in-the-financial-markets-incentive-and-retention-framework\/\" aria-hidden=\"true\" >\n\t\t\t\tThe Hidden Influence Shaping Behavior in the Financial Markets: Incentive and Retention Framework\t\t\t<\/a>\n\t\t<\/div>\n\n\t\t<div class=\"anwp-pg-post-teaser__bottom-meta d-flex flex-wrap\">\n\n\t\t\t\t\t\t\t<div class=\"anwp-pg-post-teaser__bottom-meta-item d-flex align-items-center mr-3\">\n\t\t\t\t\t<svg class=\"anwp-pg-icon anwp-pg-icon--s16 mr-1\">\n\t\t\t\t\t\t<use xlink:href=\"#icon-anwp-pg-calendar\"><\/use>\n\t\t\t\t\t<\/svg>\n\t\t\t\t\t<span class=\"posted-on m-0\"><span class=\"screen-reader-text\">Posted on<\/span><time class=\"anwp-pg-published\" datetime=\"2026-01-27T12:28:25+00:00\">January 27, 2026<\/time><time class=\"anwp-pg-updated\" datetime=\"2026-01-28T08:43:26+00:00\">January 28, 2026<\/time><\/span>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\n\t\t\n\t<\/div>\n\n<\/div>\n<div class=\"anwp-pg-post-teaser anwp-pg-post-teaser--inner-cover-link anwp-pg-post-teaser--layout-d d-flex flex-column swiper-slide\">\n\t<div class=\"anwp-pg-post-teaser__thumbnail position-relative\">\n\n\t\t\t\t\t<div class=\"anwp-pg-post-teaser__top-meta d-flex flex-column anwp-pg-post-teaser__category-column mr-auto\">\n\t\t\t\t<div class=\"anwp-pg-category__wrapper-filled px-2 d-flex align-items-center anwp-pg-post-teaser__category-wrapper align-self-start anwp-pg-category-parent-0\" style=\"background-color: #1565C0\"><span>Industry Insights<\/span><\/div>\t\t\t<\/div>\n\t\t\t\n\t\t\n\t\t\t\t\t<img loading=\"lazy\" class=\"anwp-pg-post-teaser__thumbnail-img d-block anwp-pg-height-210 anwp-object-cover m-0 w-100\"\n\t\t\t\talt=\"Fairness &amp; Alignment in Continuation Funds: Designing Sponsor Incentives That Work\"\n\t\t\t\tsrc=\"https:\/\/www.ewmglobal.com\/site\/wp-content\/uploads\/2025\/07\/Final-Continuation-Funds-Article-Feature-Image-2-1024x726.png\"\/>\n\t\t\n\t\t<div class=\"anwp-pg-post-teaser__thumbnail-bg anwp-position-cover\"><\/div>\n\n\t\t<a class=\"anwp-position-cover anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/fairness-and-alignment-in-continuation-funds\/\" aria-hidden=\"true\" ><\/a>\n\t<\/div>\n\n\t<div class=\"anwp-pg-post-teaser__content flex-grow-1 pt-1 d-flex flex-column\">\n\n\t\t<div class=\"anwp-pg-post-teaser__title anwp-font-heading mt-2\">\n\t\t\t<a class=\"anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/fairness-and-alignment-in-continuation-funds\/\" aria-hidden=\"true\" >\n\t\t\t\tFairness &amp; Alignment in Continuation Funds: Designing Sponsor Incentives That Work\t\t\t<\/a>\n\t\t<\/div>\n\n\t\t<div class=\"anwp-pg-post-teaser__bottom-meta d-flex flex-wrap\">\n\n\t\t\t\t\t\t\t<div class=\"anwp-pg-post-teaser__bottom-meta-item d-flex align-items-center mr-3\">\n\t\t\t\t\t<svg class=\"anwp-pg-icon anwp-pg-icon--s16 mr-1\">\n\t\t\t\t\t\t<use xlink:href=\"#icon-anwp-pg-calendar\"><\/use>\n\t\t\t\t\t<\/svg>\n\t\t\t\t\t<span class=\"posted-on m-0\"><span class=\"screen-reader-text\">Posted on<\/span><time class=\"anwp-pg-published\" datetime=\"2025-07-14T19:42:18+00:00\">July 14, 2025<\/time><time class=\"anwp-pg-updated\" datetime=\"2025-10-07T06:57:36+00:00\">October 7, 2025<\/time><\/span>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\n\t\t\n\t<\/div>\n\n<\/div>\n<div class=\"anwp-pg-post-teaser anwp-pg-post-teaser--inner-cover-link anwp-pg-post-teaser--layout-d d-flex flex-column swiper-slide\">\n\t<div class=\"anwp-pg-post-teaser__thumbnail position-relative\">\n\n\t\t\t\t\t<div class=\"anwp-pg-post-teaser__top-meta d-flex flex-column anwp-pg-post-teaser__category-column mr-auto\">\n\t\t\t\t<div class=\"anwp-pg-category__wrapper-filled px-2 d-flex align-items-center anwp-pg-post-teaser__category-wrapper align-self-start anwp-pg-category-parent-0\" style=\"background-color: #1565C0\"><span>Industry Insights<\/span><\/div>\t\t\t<\/div>\n\t\t\t\n\t\t\n\t\t\t\t\t<img loading=\"lazy\" class=\"anwp-pg-post-teaser__thumbnail-img d-block anwp-pg-height-210 anwp-object-cover m-0 w-100\"\n\t\t\t\talt=\"Junior Staff Carry Allocation: Benefits and Potential Challenges\"\n\t\t\t\tsrc=\"https:\/\/www.ewmglobal.com\/site\/wp-content\/uploads\/2024\/09\/2024-09-11_11-26-40-1024x725.png\"\/>\n\t\t\n\t\t<div class=\"anwp-pg-post-teaser__thumbnail-bg anwp-position-cover\"><\/div>\n\n\t\t<a class=\"anwp-position-cover anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/junior-staff-carry-allocation-benefits-and-potential-challenges\/\" aria-hidden=\"true\" ><\/a>\n\t<\/div>\n\n\t<div class=\"anwp-pg-post-teaser__content flex-grow-1 pt-1 d-flex flex-column\">\n\n\t\t<div class=\"anwp-pg-post-teaser__title anwp-font-heading mt-2\">\n\t\t\t<a class=\"anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/junior-staff-carry-allocation-benefits-and-potential-challenges\/\" aria-hidden=\"true\" >\n\t\t\t\tJunior Staff Carry Allocation: Benefits and Potential Challenges\t\t\t<\/a>\n\t\t<\/div>\n\n\t\t<div class=\"anwp-pg-post-teaser__bottom-meta d-flex flex-wrap\">\n\n\t\t\t\t\t\t\t<div class=\"anwp-pg-post-teaser__bottom-meta-item d-flex align-items-center mr-3\">\n\t\t\t\t\t<svg class=\"anwp-pg-icon anwp-pg-icon--s16 mr-1\">\n\t\t\t\t\t\t<use xlink:href=\"#icon-anwp-pg-calendar\"><\/use>\n\t\t\t\t\t<\/svg>\n\t\t\t\t\t<span class=\"posted-on m-0\"><span class=\"screen-reader-text\">Posted on<\/span><time class=\"anwp-pg-published\" datetime=\"2024-09-12T11:54:02+00:00\">September 12, 2024<\/time><time class=\"anwp-pg-updated\" datetime=\"2025-10-07T07:03:19+00:00\">October 7, 2025<\/time><\/span>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\n\t\t\n\t<\/div>\n\n<\/div>\n<div class=\"anwp-pg-post-teaser anwp-pg-post-teaser--inner-cover-link anwp-pg-post-teaser--layout-d d-flex flex-column swiper-slide\">\n\t<div class=\"anwp-pg-post-teaser__thumbnail position-relative\">\n\n\t\t\t\t\t<div class=\"anwp-pg-post-teaser__top-meta d-flex flex-column anwp-pg-post-teaser__category-column mr-auto\">\n\t\t\t\t<div class=\"anwp-pg-category__wrapper-filled px-2 d-flex align-items-center anwp-pg-post-teaser__category-wrapper align-self-start anwp-pg-category-parent-0\" style=\"background-color: #1565C0\"><span>Industry Insights<\/span><\/div>\t\t\t<\/div>\n\t\t\t\n\t\t\n\t\t\t\t\t<img loading=\"lazy\" class=\"anwp-pg-post-teaser__thumbnail-img d-block anwp-pg-height-210 anwp-object-cover m-0 w-100\"\n\t\t\t\talt=\"UK Carried Interest Reform: A New Tax Era?\"\n\t\t\t\tsrc=\"https:\/\/www.ewmglobal.com\/site\/wp-content\/uploads\/2024\/07\/Tax-Reforms-Thumbnail-1024x582.png\"\/>\n\t\t\n\t\t<div class=\"anwp-pg-post-teaser__thumbnail-bg anwp-position-cover\"><\/div>\n\n\t\t<a class=\"anwp-position-cover anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/uk-carried-interest-tax-reforms\/\" aria-hidden=\"true\" ><\/a>\n\t<\/div>\n\n\t<div class=\"anwp-pg-post-teaser__content flex-grow-1 pt-1 d-flex flex-column\">\n\n\t\t<div class=\"anwp-pg-post-teaser__title anwp-font-heading mt-2\">\n\t\t\t<a class=\"anwp-link-without-effects\" href=\"https:\/\/www.ewmglobal.com\/site\/uk-carried-interest-tax-reforms\/\" aria-hidden=\"true\" >\n\t\t\t\tUK Carried Interest Reform: A New Tax Era?\t\t\t<\/a>\n\t\t<\/div>\n\n\t\t<div class=\"anwp-pg-post-teaser__bottom-meta d-flex flex-wrap\">\n\n\t\t\t\t\t\t\t<div class=\"anwp-pg-post-teaser__bottom-meta-item d-flex align-items-center mr-3\">\n\t\t\t\t\t<svg class=\"anwp-pg-icon anwp-pg-icon--s16 mr-1\">\n\t\t\t\t\t\t<use xlink:href=\"#icon-anwp-pg-calendar\"><\/use>\n\t\t\t\t\t<\/svg>\n\t\t\t\t\t<span class=\"posted-on m-0\"><span class=\"screen-reader-text\">Posted on<\/span><time class=\"anwp-pg-published\" datetime=\"2024-07-26T08:49:30+00:00\">July 26, 2024<\/time><time class=\"anwp-pg-updated\" datetime=\"2024-07-26T09:03:07+00:00\">July 26, 2024<\/time><\/span>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\n\t\t\n\t<\/div>\n\n<\/div>\n\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<div class=\"swiper-pagination\"><\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>\u201cThe Modern Landscape of Carried Interest\u201d A recap on the discussions that took place during the EWM Global New York Round Table.<\/p>\n","protected":false},"author":7,"featured_media":11619,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"on","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"off","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[8],"tags":[],"class_list":["post-11579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-insights","entry","has-media"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Modern Landscape of Carried Interest<\/title>\n<meta name=\"description\" content=\"\u201cThe Modern Landscape of Carried Interest\u201d A recap on the discussions that took place during the EWM Global New York Round Table.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ewmglobal.com\/site\/the-modern-landscape-of-carried-interest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Modern Landscape of Carried Interest\" \/>\n<meta property=\"og:description\" content=\"\u201cThe Modern Landscape of Carried Interest\u201d A recap on the discussions that took place during the EWM Global New York Round Table.\" \/>\n<meta property=\"og:url\" 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