Dear Ajit and team: On behalf of MD Group, I want to take this opportunity to thank you and your team for your efforts over the last year. Thanks to you and the team, we have numerous new capabilities at MD Group that are helping us to collect data more cost-effectively and do a better job of displaying our data to our clients.

You and your team developed and deployed our new version 3.0 website, which made a huge improvement in the user experience. This included rolling out new tools, such as our TSR, equity dilution, burn rate, and Black-Scholes interactive calculators. You implemented a more user-friendly toolbar functionality on the website, which helps our users every day.

In addition to the new version of the website, you have continued CLIC development, with a major development effort into improving our Board Pay capabilities. This has involved a complete rewrite of the entire Board Pay module to enable us to input much more data and track the compensation and awards for individual directors at each company where they serve as board members. In addition to the new Board Pay module, you expanded and improved the input mechanism for plan-based awards metrics and have made numerous improvements for efficiency and speed. You and your team have worked well with the data entry team in New Delhi, which has improved our data-entry turnaround.

Finally, you and your team have shown successful proof of concept for retrieving proxy filings and financial filings directly from the Securities and Exchange Commission (SEC) feeds. We had previously used third-party providers for that data, even though it is available at no charge from the SEC. You are currently finishing the implementation of mechanisms to pull that data into our database. The result is that MD Group will save a substantial amount of money by being free from the cost of these third-party data feeds.

On top of all this, you have personally been available at odd hours and on weekends to talk with us and to perform tasks that cannot be done during the week. You and your team have been very responsive to bugs and issues raised on both the public-facing website and CLIC, our internal data-entry tool.

Thank you again for all of your hard work. You have been a great team player, and you and your team have consistently given us your very best efforts.