Below are the terms of the Releases provided by the Settlements, as reflected in each respective Stipulation of Settlement:

RELEASE OF CLAIMS WITH RESPECT TO THE SETTLEMENT WITH MFS DEFENDANTS:

Pursuant to the Stipulation and Agreement of Settlement (MFS Defendants) dated March 3, 2010 entered into between Plaintiffs and the MFS Defendants (the "MFS Defendants Stipulation"), upon the Effective Date of the Settlement, (a) all claims brought by Investor Class Lead Plaintiff (on behalf of itself and all other Class Members), Derivative Plaintiffs (on behalf of themselves and derivatively on behalf of the MFS Funds), and ERISA Class Plaintiff (on behalf of herself, the Plan and all other ERISA Class Members) against the MFS Defendants in the Actions shall be dismissed with prejudice; and (b) Investor Class Lead Plaintiff and all other Class Members; Derivative Plaintiffs, on behalf of themselves and derivatively on behalf of the MFS Funds, and the MFS Funds; and ERISA Class Plaintiff, on behalf of herself and the Plan, and all other ERISA Class Members, on behalf of themselves, their heirs, executors, administrators, successors and assigns, shall be deemed to have released and forever discharged the Released Claims (defined below), and shall forever be enjoined from prosecuting the Released Claims, against the MFS Released Parties (defined below).

"Released Claims" means any and all claims (including, without limitation, claims under the Securities Act, Exchange Act, ERISA, the Investment Company Act, or under any other state, federal or other law) against the MFS Released Parties, whether direct, derivative or brought in any other capacity, whether known or unknown (including "Unknown Claims"), whether suspected or unsuspected, whether accrued or unaccrued, that have been, could have been or might have been asserted in the Complaints, the Reaves Complaint or the Sayegh Complaint or in the Actions, the Reaves Action or the Sayegh Action, or in any other forum, against any of the MFS Release Parties by the Plaintiffs, the MFS Plan, the MFS Funds, the Class Members or MFS Fund Shareholders, which concern, relate to or arise out of in any respect, directly or indirectly, Market Timing or Frequent Trading in any of the MFS Retail Funds during the Class Period, including any claims that any of the MFS Released Parties allowed, assisted, cleared, brokered, financed, provided the means for, subjected investors to or otherwise facilitated or failed to prevent, or made material representations of fact or omissions concerning, Market Timing or Frequent Trading in any of the MFS Retail Funds during the Class Period, and including any claims which concern, relate to or arise out of, in any respect, directly or indirectly, the imposition or collection of any allegedly excessive, unearned or otherwise improper fees or charges in connection with or as a result of Market Timing or Frequent Trading during the Class Period.

"MFS Released Parties" means (a) the MFS Corporate Defendants and the MFS Plan, and their past and present, parents, subsidiaries, affiliates, general partners, limited partners, officers, directors, trustees, employees, agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, in their capacities as such and in their capacities as fiduciaries for any of the MFS Funds or any MFS-sponsored retirement or pension plan; (b) the MFS Individual Defendants, Martin Beaulieu, Ellen Bradley, James FitzGerald, Arnold Scott and William W. Scott, and their past or present agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, executors and administrators, in their capacities as such and in their capacities as fiduciaries for any of the MFS Funds or any MFS-sponsored retirement or pension plan; and (c) the successors, heirs and assigns of the foregoing.

All capitalized terms used above that are not defined shall have the meanings set forth in the MFS Defendants Stipulation.

RELEASE OF CLAIMS WITH RESPECT TO THE SETTLEMENT WITH MFS FUNDS DEFENDANTS:

Pursuant to the Stipulation and Agreement of Settlement (MFS Funds Defendants) dated March 3, 2010 entered into between Plaintiffs and the MFS Funds Defendants (the "MFS Funds Defendants Stipulation"), upon the Effective Date of the Settlement, (a) all claims brought by Investor Class Lead Plaintiff (on behalf of itself and all other Class Members), Derivative Plaintiffs (on behalf of themselves and derivatively on behalf of the MFS Funds), and ERISA Class Plaintiff (on behalf of herself, the Plan and all other ERISA Class Members) against the MFS Funds Defendants in the Actions shall be dismissed with prejudice; and (b) Investor Class Lead Plaintiff and all other Class Members; Derivative Plaintiffs, on behalf of themselves and derivatively on behalf of the MFS Funds, and the MFS Funds; and ERISA Class Plaintiff, on behalf of herself and the Plan, and all other ERISA Class Members, on behalf of themselves, their heirs, executors, administrators, successors and assigns, shall be deemed to have released and forever discharged the Released Claims (defined below), and shall forever be enjoined from prosecuting the Released Claims, against the MFS Released Parties (defined below).

"Released Claims" any and all claims (including without limitation, claims under the Securities Act, Exchange Act, ERISA, the Investment Company Act, or under any other state, federal or other law) against the MFS Funds Released Parties, whether direct, derivative or brought in any other capacity, whether known or unknown (including "Unknown Claims" as defined below), whether suspected or unsuspected, whether accrued or unaccrued, that have been, could have been or might have been asserted in the Complaints, the Reaves complaint or the Sayegh Complaint or in the Actions, the Reaves Action or the Sayegh Action, or in any other forum against any of the MFS Funds Released Parties by the Plaintiffs (including any claims that have been, could have been or might have been brought on behalf of the MFS Plan by the ERISA Lead Plaintiff, and any claims that have been, could have been or might have been brought by any of the Plaintiffs on behalf of the MFS Funds), the Class Members or MFS Fund Shareholders, which concern, relate to or arise out of in any respect, directly or indirectly, Market Timing or Frequent Trading in any of the MFS Retail Funds during the Class Period, including any claims that any of the MFS Funds Released Parties allowed, assisted, cleared, brokered, financed, provided the means for, subjected investors to or otherwise facilitated or failed to prevent, or made material representations of fact or omissions concerning, Market Timing or Frequent Trading in any of the MFS Retail Funds during the Class Period, including any claims that any of the MFS Funds Released Parties allowed, assisted, cleared, brokered, financed, provided the means for, subjected investors to or otherwise facilitated or failed to prevent, or made material representations of fact or omissions concerning, Market Timing or Frequent Trading in any of the MFS Retail Funds during the Class Period, and including any claims which concern, relate to or arise out of, in any respect, directly or indirectly, the imposition or collection of any allegedly excessive, unearned or otherwise improper fees or charges in connection with or as a result of Market Timing or Frequent Trading during the Class Period.

"MFS Released Parties" means (a) the MFS Funds and MFS Funds Trusts, and their past and present, parents, subsidiaries, affiliates, general partners, limited partners, officers, directors, trustees, employees, agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, in their capacities as such and in their capacities as fiduciaries for any of the MFS Funds or any MFS-sponsored retirement or pension plan; (b) the MFS Funds Trustees, MFS Funds Individual Defendants, and their past or present agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, executors and administrators, in their capacities as such and in their capacities as fiduciaries for any of the MFS Funds or any MFS-sponsored retirement or pension plan; (c) Frank Tarantino in his capacity as independent compliance consultant, and the agents, servants, attorneys, and insurers of Frank Tarantino in those capacities; (d) John Coates in his capacity as independent distribution consultant, and the agents, servants, attorneys, and insurers of John Coates in those capacities; and (e) the successors, heirs and assigns of the foregoing.

All capitalized terms used above that are not defined shall have the meanings set forth in the MFS Funds Defendants Stipulation.

RELEASE OF CLAIMS WITH RESPECT TO THE SETTLEMENT WITH BEAR STEARNS DEFENDANTS:

Pursuant to the MFS/Bear Stearns Severed Agreement and Stipulation of Settlement dated January 19, 2010 entered into between Class Plaintiff and the Bear Stearns Defendants (the "MFS/Bear Stearns Stipulation"), upon the Effective Date of the Settlement, all Releasing Plaintiffs Parties: (i) shall be conclusively deemed to have fully, finally and forever remised, released, relinquished, dismissed, discontinued, withdrawn, and discharged all Released Claims (as defined below) against any and all of the Bear Stearns Released Parties (as defined below); (ii) shall be conclusively deemed to have covenanted not to sue or assert in any manner any claim, right, cause of action, count, or liability against any of the Bear Stearns Released Parties in any action alleging any claim, right, cause of action, count, or liability that is a Released Claim; (iii) shall be conclusively deemed to have covenanted not to assist, engage in, participate in, facilitate, provide information for, or be involved in any way in the commencement, prosecution, continuance, or pursuit by any third party of any legal, administrative, investigative, or any other action or proceeding of any nature or in asserting any claim, count, right, cause of action, or liability against any of the Bear Stearns Released Parties relating to any Released Claim, including, without limitation, any derivative action or suit, and (iv) shall forever be enjoined and barred from asserting, or assisting, participating in, providing information for, engaging in, facilitating the assertion of, or being involved in any way in the assertion of, any of the Released Claims against any Bear Stearns Released Party in any legal, administrative, investigative, or any other action or proceeding of any nature.

"Released Claims" means any and all claims, rights, causes of action, counts, or liabilities against any or all of the Bear Stearns Released Parties, whether direct, derivative or brought in any other capacity, whether under federal or state law, whether known or unknown (including "Unknown Claims" as defined below), whether suspected or unsuspected, whether accrued or unaccrued, whether asserted or unasserted, concerning in any respect, directly or indirectly, market-timing, late-trading, or short-term or excessive trading in any of the MFS Mutual Funds during all or any part of the Class Period, including any claims that any or all of the Bear Stearns Released Parties allowed, assisted, cleared, brokered, financed, caused, acquiesced in, participated or engaged in, provided the means for, subjected investors to or otherwise facilitated or were responsible for market-timing, late-trading, or short-term or excessive trading and including, without limitation, all of the claims and causes of action that were brought and all of such claims and causes of action that could have been brought against any or all of the Bear Stearns Released Parties in the Class Action or the Fund Derivative Action, or in any other legal proceeding or forum.

"Bear Stearns Released Parties" means the Bear Stearns Defendants (i.e., Bear, Stearns & Co. Inc., Bear, Stearns Securities Corp., and The Bear Stearns Companies Inc., currently known as J.P. Morgan Securities Inc., J.P. Morgan Clearing Corp. and The Bear Stearns Companies LLC, respectively) and all of their respective Related Parties (i.e., (a) with respect to natural persons, all of their past and present agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, executors and administrators; (b) with respect to legal entities other than natural persons, all of their past and present parents, employees, subsidiaries, affiliates, general partners, limited partners, officers, directors, trustees, members, employees, agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, in any and all capacities; and (c) all of the predecessors, successors, heirs and assigns of the foregoing).

All capitalized terms used above that are not defined shall have the meanings set forth in the MFS/Bear Stearns Defendants Stipulation.

RELEASE OF CLAIMS WITH RESPECT TO THE SETTLEMENT WITH CANARY DEFENDANTS:

Pursuant to the MFS/Canary Severed Agreement and Stipulation of Settlement dated January 19, 2010 entered into between Plaintiffs and the Canary Defendants (the "MFS/Canary Defendants Stipulation"), upon the Effective Date of the Settlement, all Releasing Plaintiffs Parties, on behalf of themselves, their heirs, executors, administrators, successors and assigns: (i) shall be conclusively deemed to have fully, finally and forever released, relinquished, and discharged all Released Claims (as defined below) against the Canary Released Parties (as defined below); (ii) shall be conclusively deemed to have covenanted not to sue the Canary Released Parties in any action alleging any claim that is a Released Claim; (iii) shall be conclusively deemed to have covenanted not to knowingly and voluntarily assist in any way any third party in commencing or prosecuting any suit against the Canary Released Parties relating to any Released Claim, including any derivative suit, and (iv) shall forever be enjoined and barred from asserting the Released Claims against any Canary Released Party in any action or proceeding of any nature.

"Released Claims" means any and all claims against the Canary Released Parties, whether direct, derivative or brought in any other capacity, whether under federal or state law, whether known or unknown (including "Unknown Claims" as defined below), whether suspected or unsuspected, whether accrued or unaccrued, concerning in any respect, directly or indirectly, market-timing, late-trading, or short-term or excessive trading in any of the MFS Mutual Funds during the Class Period, including any claims that the Canary Released Parties allowed, assisted, cleared, brokered, financed, provided the means for, subjected investors to or otherwise facilitated market-timing, late-trading, or short-term or excessive trading and including, without limitation, all claims that were alleged in the Class Complaint and the Fund Derivative Complaint and all claims that could have been brought against the Canary Released Parties concerning in any respect, directly or indirectly, market-timing, late-trading, or short-term or excessive trading in any of the MFS Mutual Funds during the Class Period.

"Canary Released Parties" means the Canary Defendants (i.e., Canary Capital Partners, LLC; Canary Capital Partners, Ltd.; Canary Investment Management, LLC; and Edward Stern) and their respective Related Parties (i.e., (a) with respect to natural persons, their past or present agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, executors and administrators; (b) with respect to legal entities other than natural persons, their past and present, parents, employees, subsidiaries, general partners, limited partners, officers, directors, trustees, members, employees, agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers; and (c) the predecessors, successors, heirs and assigns of the foregoing).

All capitalized terms used above that are not defined shall have the meanings set forth in the MFS/Canary Defendants Stipulation.

RELEASE OF CLAIMS WITH RESPECT TO THE SETTLEMENT WITH BANC OF
AMERICA SECURITIES LLC:


Pursuant to the MFS/BAS Severed Agreement and Stipulation of Settlement dated January 28, 2010 entered into between Plaintiffs and Banc of America Securities LLC ("BAS") (the "MFS/BAS Stipulation"), upon the Effective Date of the Settlement, all Releasing Plaintiffs Parties, on behalf of themselves, their heirs, executors, administrators, successors and assigns: (i) shall be conclusively deemed to have fully, finally and forever released, relinquished, and discharged all Released Claims (as defined below) against the Bank of America Released Parties (as defined below); (ii) shall be conclusively deemed to have covenanted not to sue the Bank of America Released Parties in any action alleging any claim that is a Released Claim; (iii) shall be conclusively deemed to have covenanted not to knowingly and voluntarily assist in any way any third party in commencing or prosecuting any suit against the Bank of America Released Parties relating to any Released Claim, including any derivative suit, and (iv) shall forever be enjoined and barred from asserting the Released Claims against any Bank of America Released Party in any action or proceeding of any nature.

"Released Claims" means any and all claims, rights, causes of action or liabilities whatsoever against the Bank of America Released Parties, whether direct, derivative or brought in any other capacity, whether under federal, state, local, statutory or common law, whether known or unknown (including "Unknown Claims" as defined below), whether suspected or unsuspected, whether accrued or unaccrued, concerning in any respect, directly or indirectly, market-timing, late-trading, or short-term or excessive trading in any of the MFS Funds during the Class Period, including any claims that the Bank of America Release Parties allowed, assisted, cleared, brokered, financed, provided the means for, subjected investors to otherwise facilitated market-timing, late-trading, or short-term or excessive trading and including, without limitation, all claims that were alleged in the Class Complaint and the Fund Derivative Complaint and all claims that could have been brought against the Bank of America Released Parties that concern, relate to or arise out of, in any respect, directly or indirectly, market-timing, late-trading, or short-term or excessive trading in any of the MFS Funds during the Class Period.

"Bank of America Released Parties" means the Bank of America Parties (i.e., BAS, Bank of America Corporation, and Bank of America, N.A.) and all of their respective Related Parties (i.e., (a) with respect to natural persons, their past or present agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, executors and administrators; (b) with respect to legal entities other than natural persons, their past and present parents, subsidiaries, general partners, limited partners, officers, directors, trustees, members, employees, agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers; and (c) the predecessors, successors, heirs and assigns of the foregoing).

All capitalized terms used above that are not defined shall have the meanings set forth in the MFS/BAS Stipulation.

RELEASE OF CLAIMS WITH RESPECT TO THE SETTLEMENT WITH SECURITY BROKERAGE
DEFENDANTS:


Pursuant to the MFS/Security Brokerage Severed Agreement and Stipulation of Settlement dated January 15, 2010 entered into between Class Plaintiff and the Security Brokerage Parties (the "MFS/Security Brokerage Stipulation"), upon the Effective Date of the Settlement, all Releasing Plaintiffs Parties, on behalf of themselves, their heirs, executors, administrators, successors and assigns: (i) shall be conclusively deemed to have fully, finally and forever released, relinquished, and discharged all Released Claims (as defined below) against the Security Brokerage Released Parties (as defined below); (ii) shall be conclusively deemed to have covenanted not to sue the Security Brokerage Released Parties in any action alleging any claim that is a Released Claim; (iii) shall be conclusively deemed to have covenanted not to knowingly and voluntarily assist in any way any third party in commencing or prosecuting any suit against the Security Brokerage Released Parties relating to any Released Claim, including any derivative suit, and (iv) shall forever be enjoined and barred from asserting the Released Claims against any Security Brokerage Released Party in any action or proceeding of any nature.

"Released Claims" means means any and all claims against the Security Brokerage Released Parties, whether direct, derivative or brought in any other capacity, whether under federal or state law, whether known or unknown (including "Unknown Claims" as defined below), whether suspected or unsuspected, whether accrued or unaccrued, concerning in any respect, directly or indirectly, the purchase, sale or retention of shares of funds in any of the MFS Mutual Funds during the Class Period or any market-timing, late-trading, or short-term or excessive trading in any of the MFS Mutual Funds during the Class Period, including any claims that the Security Brokerage Released Parties allowed, assisted, cleared, brokered, financed, provided the means for, subjected investors to or otherwise facilitated or engaged in market-timing, late-trading, or short-term or excessive trading and including, without limitation, all claims that were alleged in the Class Complaint and the Fund Derivative Complaint and all claims that could have been brought against the Security Brokerage Released Parties, individually or on behalf of a class, concerning in any respect, directly or indirectly, the purchase, sale or retention of shares of funds in any of the MFS Mutual Funds during the Class Period or any market-timing, late-trading, or short-term or excessive trading in any of the MFS Mutual Funds during the Class Period.

"Security Brokerage Released Parties" means the Security Brokerage Parties (i.e., Daniel G. Calugar, Security Brokerage, Inc. (now known as Symphonic Alpha, LLC), DCIP, L.P., RCIP, L.P., the Security Brokerage, Inc. Profit Sharing Trust (now known as the Calugar Corporation Profit Sharing Trust) and any of their successors) and all of their respective Related Parties (i.e., (a) with respect to natural persons, their past or present agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers, executors and administrators; (b) with respect to legal entities other than natural persons, their past and present, parents, employees, subsidiaries, general partners, limited partners, officers, directors, trustees, members, employees, agents, servants, attorneys, accountants, insurers, co-insurers and re-insurers; and (c) the predecessors, successors, heirs and assigns of the foregoing).

All capitalized terms used above that are not defined shall have the meanings set forth in the MFS/Security Brokerage Stipulation.

RELEASE OF CLAIMS WITH RESPECT TO THE SETTLEMENT WITH WILSHIRE ASSOCIATES:

Pursuant to the Stipulation and Agreement of Settlement with Wilshire Associates dated January 15, 2010 entered into between Lead Plaintiff and Wilshire Associates Incorporated ("Wilshire Associates") (the "Wilshire Associates Stipulation"), upon the Effective Date of the Settlement, (a) all claims brought by Lead Plaintiff (on behalf of itself and all other Class Members) against Wilshire Associates in the Action are to be dismissed with prejudice; and (b) Lead Plaintiff and all other Class Members, on behalf of themselves, their heirs, executors, administrators, successors and assigns, shall be deemed to have released and forever discharged the Released Claims (as defined below), and shall forever be enjoined from prosecuting the Released Claims, against the Released Parties (as defined below). "Released Claims" means any and all claims by the Class Members against the Released Parties, whether class or individual in nature, whether under federal or state law, whether known claims or Unknown Claims, whether suspected or unsuspected, whether accrued or unaccrued, concerning in any respect, market-timing, late-trading, or short-term or excessive trading in the MFS Funds during the Class Period, including any claims that the Released Parties allowed, assisted, cleared, brokered, financed, provided the means for, subjected investors to or otherwise facilitated or made material misstatements of fact or omissions concerning market-timing, late-trading, or short-term or excessive trading in the MFS Funds during the Class Period and including, without limitation, all of the claims that were brought and all of such claims that could have been brought against the Released Parties in the Complaint concerning market-timing, late-trading, or short-term or excessive trading in the MFS Funds during the Class Period.

"Released Parties" means Wilshire Associates and its present and former general partners, limited partners, members, directors, officers, employees, affiliates, predecessors, successors, assigns, attorneys, accountants, agents, insurers, co-insurers, and reinsurers.

All capitalized terms used above that are not defined shall have the meanings set forth in the Wilshire Associates Stipulation.

RELEASE OF CLAIMS WITH RESPECT TO THE SETTLEMENT WITH TEWKSBURY:

Pursuant to the Stipulation and Agreement of Settlement with Tewksbury dated January 15, 2010 entered into between Lead Plaintiff and Defendant Trout Trading Management Company Ltd., n/k/a Tewksbury Capital Management Ltd. ("Tewksbury") (the "Tewksbury Stipulation"), upon the Effective Date of the Settlement, (a) all claims brought by Lead Plaintiff (on behalf of itself and all other Class Members) against Tewksbury in the Action are to be dismissed with prejudice; and (b) Lead Plaintiff and all other Class Members, on behalf of themselves, their heirs, executors, administrators, successors and assigns, shall be deemed to have released and forever discharged the Released Claims (as defined below), and shall forever be enjoined from prosecuting the Released Claims, against the Released Parties (as defined below).

"Released Claims" means any and all claims by the Class Members against the Released Parties, whether class or individual in nature, whether under federal or state law, whether known claims or Unknown Claims, whether suspected or unsuspected, whether accrued or unaccrued, concerning or related directly or indirectly, in any respect to, market-timing, late-trading, short-term trading, investing, buying, holding, selling or excessive trading in the MFS Funds during the Class Period, including any claims that the Released Parties allowed, assisted, cleared, brokered, financed, provided the means for, subjected investors to or otherwise facilitated or made material misstatements of fact or omissions concerning market-timing, late-trading, short-term trading, investing, buying, holding, selling or excessive trading in the MFS Funds during the Class Period and including, without limitation, all of the claims that were brought and all of such claims that could have been brought against the Released Parties in the Complaint concerning market-timing, late-trading, short-term trading, investing, buying, holding, selling or excessive trading in the MFS Funds during the Class Period.

"Released Parties" means Tewksbury, Trout Trading Fund Ltd., Tewksbury Investment Fund Ltd. and each of their present and former employees, officers, directors, trustees, members, partners, managers, agents, attorneys, counsel, predecessors, successors, representatives, administrators, shareholders, investors, affiliates, subsidiaries, consultants, accountants, auditors, portfolio managers, service providers, and assigns.

All capitalized terms used above that are not defined shall have the meanings set forth in the Tewksbury Stipulation.