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      <ContractorCompensationGrp>
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        <ManagementAndGeneralAmt>1491495</ManagementAndGeneralAmt>
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        <ExplanationTxt>THE INSTITUT EUROPEEN D'ADMINISTRATION DES AFFAIRES (the "INSTITUT OR INSEAD") IS A FOREIGN EQUIVALENT, TAX-EXEMPT ORGANIZATION. THE INSTITUT WAS RECOGNIZED AS A PUBLIC CHARITY UNDER SECTION 170(b)(1)(ii) AND TAX-EXEMPT UNDER SECTION 501(C)(3) ON fEBRUARY 7, 2017 EFFECTIVE JULY 13, 2016. INSEAD NORTH AMERICA INC. ("INA") EXCLUSIVELY SUPPORTS THE MISSION OF THE INSTITUT, A FRENCH ASSOCIATION ORGANIZED EXCLUSIVELY FOR CHARITABLE, EDCUATIONAL AND SCIENTIFIC PURPOSES. THE INSTITUT IS NOT A PRIVATE FOUNDATION UNDER THE TAX LAWS OF FRANCE, AND IS NOT CLASSIFIED AS A PRIVATE FOUNDATION UNDER U.S. TAX LAW.</ExplanationTxt>
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          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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        <ExplanationTxt>The Organization is subject to the provisions of the Financial Accounting Standards Boards Accounting Standards Codification (ASC) Topic 740-10-05 relating to accounting and reporting for uncertainty in income taxes. This requires management to evaluate tax positions taken and recognize a tax liability (or asset) if INA has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service (IRS). Due to INAs general not-for-profit status, management believes there are no tax positions that would have a material impact on its financial statements.</ExplanationTxt>
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        <ExplanationTxt>ANDREAS JACOBS, JOLYON BARKER, EMMA GOLTZ, ADAM GOLDSTEIN, PASCALE WITZ, BEATRICE PIGE CAN BE REACHED AT INSEAD UNIVERSITY, BOULEVARD de CONSTANCE, 77305 FONTAINEBLEAU, CEDEX, FRANCE.</ExplanationTxt>
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        <ExplanationTxt>A COPY OF INA's FORM 990 WAS PROVIDED TO THE CFO OF INSEAD UNIVERSITY WHO IS RESPONSIBLE FOR AND REVIEWED THE ENTIRE FORM BEFORE IT WAS FILED BY INA.</ExplanationTxt>
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        <ExplanationTxt>THE PUBLIC CAN ACCESS THESE DOCUMENTS BY WRITTEN REQUEST TO INA AT 3630 HILL BOULEVARD, SUITE 202, JEFFERSON VALLEY, NY 10535.</ExplanationTxt>
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