Memorandum of Understanding

The practice of Actuarial Work-Products, Inc. is to inaugurate its activities without the necessity of a formal legal contract with the Eligible User.  The right to require such formal contract in the future is reserved by Actuarial Work-Products, Inc.

There is, however, an implicit understanding between the Eligible User and Actuarial Work-Products, Inc. that may be summarized as follows:

The Parties understand and agree to the following:

  1. The Eligible-User may access the Website by means of its User Name and password and gain any and all of the economic or other advantages available with certain designated Actuarial Work-Products thereforth.
  2. The Eligible-User and Actuarial Work-Products, Inc. agree to and understand the         basic principles and practices of Actuarial Work-Products, Inc.:
    • Structured/standardized Work-Products.
    • Structured/standardized required data.
    • Predetermined and global fees
    • Intenet-based with a dedicated and secured Website
    • Set rules governing professional or clerical errors.

            Such principles and practices are more fully-described on the Website.

         3.   The Parties understand and agree to the following as respects submitted data:

            This stored permanent data is maintained and controlled by the Actuarial Work-
            Products, Inc.  The Eligible User may input new data changes by hardcopy or
            electronically or freely access such Database for search-purposes only.

            Plan-Related Data
            This data may be inputted by the Eligible User review privileges by the Actuary.  This
            data will be made an Exhibit to the Work-Product so that the data has whatever life-
            span is given to the Work-Product.

         4.   The Eligible User and Actuarial Work-Products, Inc. agree that errors shall be treated
                as follows:

           These errors will be deemed clerical errors and subject to correction.

            These errors will be deemed professional errors and treated accordingly.

         5.   Actuarial Work-Products will maintain a permanent electronic file of every e-mail
               prepared for control and review purposes.