1. General.

a. READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING THE SERVICES DESCRIBED HEREIN. BY UTILIZING THE LIFEPATH SPENDING TOOL SITE, YOU ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS AND CONDITIONS AND THAT YOU AGREE TO BE BOUND BY THEM. IF YOU DO NOT AGREE TO ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT, YOU ARE NOT AN AUTHORIZED USER OF THESE SERVICES AND YOU SHOULD NOT USE THE LIFEPATH SPENDING TOOL SITE.

b. BLACKROCK RESERVES THE RIGHT TO CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS AT ANY TIME FOR ANY REASON. WE SUGGEST THAT YOU REVIEW THESE TERMS PERIODICALLY FOR CHANGES. SUCH CHANGES SHALL BE EFFECTIVE IMMEDIATELY UPON POSTING. YOU ACKNOWLEDGE THAT BY ACCESSING THE LIFEPATH SPENDING TOOL SITE AFTER WE HAVE POSTED CHANGES TO THESE TERMS, YOU ARE AGREEING TO THESE TERMS AS MODIFIED. WE RESERVE THE RIGHT TO REFUSE TO PROVIDE OUR PRODUCTS AND SERVICES TO ANYONE AT ANY TIME.

c. THIS AGREEMENT CONTAINS WARRANTY AND LIABILITY DISCLAIMERS. BY USING THE LIFEPATH SPENDING TOOL SITE, YOU ACCEPT AND AGREE TO THE TERMS AND CONDITIONS OF THIS AGREEMENT WITHOUT ANY RESERVATIONS, MODIFICATIONS, ADDITIONS, OR DELETIONS.  YOU MAY BE DENIED ACCESS TO THE LIFEPATH SPENDING TOOL SITE, WITH OR WITHOUT PRIOR NOTICE TO YOU, AT ANY TIME IN BLACKROCK’S SOLE DISCRETION.

d. Nothing contained on the LifePath Spending Tool Site constitutes tax, accounting, regulatory, legal, insurance or investment advice. Neither the information, nor any opinion, contained on the LifePath Spending Tool Site constitutes a solicitation or offer by BlackRock, Inc. ("BlackRock") or its affiliates to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. The LifePath Spending Tool is for informational purposes only, and decisions based on information contained on the LifePath Spending Tool Site are Your sole responsibility. As detailed below, in exchange for using the LifePath Spending Tool Site, You agree to indemnify and hold BlackRock, its officers, directors, employees, affiliates, agents, contractors, licensors, suppliers and service providers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys' fees) arising from Your use of the LifePath Spending Tool Site, from Your violation of these Terms and Conditions or from any decisions that You make based on such information.

e. Any investments and strategies discussed in the LifePath Spending Tool Site may not be suitable for all investors and are not obligations of BlackRock or its affiliates or guaranteed by BlackRock or its affiliates. BlackRock makes no representations that the contents are appropriate for use in all locations, or by all investors or counterparties. By making available information on the LifePath Spending Tool Site, BlackRock does not represent that any investment vehicle is available or suitable for any particular user. All persons and entities accessing the LifePath Spending Tool Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations. 

All investments involve risk and may lose value. The value of an investment can go down depending upon market conditions. Fixed income investments are subject to risk including interest rate, credit, market and issuer risk. Currency exchange rates may cause the value of an investment to go up or down. BEFORE PURCHASING THE SHARES OF ANY INVESTMENT FUND, READ THE FUND'S PROSPECTUS OR OFFERING MATERIALS.

2. Authorized Users.

Age requirement; authority.  In order to use the LifePath Spending Tool, You must be at least 18 years of age.  You represent that (i) You have read and understood, and that You agree to be bound by, this agreement; and (ii) You are at least 18 years old.  If You do not agree to, or cannot comply with, any of these terms and conditions of this agreement, You may not attempt to access or use the LifePath Spending Tool.

3. Acknowledgements Regarding Use the LifePath Spending Tool Site.

a. By Your use of this site, You acknowledge that (i) BlackRock is not providing investment advice or making any recommendations to You through Your use of the LifePath Spending Tool Site; (ii) BlackRock is not soliciting the sale or purchase of any securities to You, or from You, through Your use of the LifePath Spending Tool Site; (iii) BlackRock is not acting in an investment advisory, fiduciary or quasi-fiduciary capacity to You through Your use of the LifePath Spending Tool Site; and (iv) BlackRock is not responsible for determining whether any investment made by You through Your use of the LifePath Spending Tool Site is suitable or appropriate for You.   

b. The LifePath Spending Tool Site is for information purposes only and is not intended to be relied upon as a forecast, research or investment advice. You acknowledge that any information provided by BlackRock in connection with the LifePath Spending Tool Site may be based on a variety of sources.  BlackRock does not assure that any information or material it provides in connection with the LifePath Spending Tool Site is accurate, current or complete, is not guaranteed and it should not be relied upon as such. Any opinions expressed on the LifePath Spending Tool Site may change as subsequent conditions vary. You acknowledge that that any past performance shown on the LifePath Spending Tool Site is not indicative of future results and that any performance information presented on the LifePath Spending Tool Site is subject to change. 

c. Restrictions.

You agree that You will not: (i) use the LifePath Spending Tool Site to reproduce, transmit, display or distribute copyrighted material in any medium or via any method without BlackRock’s express written permission; (ii) copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided on the LifePath Spending Tool Site; (iii) use the LifePath Spending Tool Site in any way that violates the terms of this Agreement or applicable law; (iv) access or use the LifePath Spending Tool Site from any location outside the United States.  The LifePath Spending Tool Site is owned by BlackRock and is protected by U.S. copyright laws and international treaty provisions.  You will not sublicense, assign, or transfer the license or any other rights granted to You under this Agreement.  Any attempt to sublicense, assign, or transfer any of the rights, duties, or obligations in violation of the provisions of this Agreement is null and void and will expose you to a claim for damages. 

d. Other Restrictions.

You agree that You will not: (a) impersonate any person or entity or misrepresent Your affiliation with any other person or entity; (b) engage in spamming, flooding, harvesting of e-mail addresses or other personal information, spidering, screen scraping, database scraping, using any robot, intelligent agent, other automated device or manual process, or any other activity with the purpose of searching, monitoring or  copying the LifePath Spending Tool Site or obtaining reports, data, information, content, software, products, services, lists of users or any other information, including specifically, loan and property listings available through the LifePath Spending Tool Site; (c) send chain letters or pyramid schemes via the LifePath Spending Tool Site; or (d) attempt to gain unauthorized access to other computer systems through the LifePath Spending Tool Site. You agree that You will not use the LifePath Spending Tool Site in any manner that could damage, disable, overburden, or impair the LifePath Spending Tool Site or interfere with any other party’s use and enjoyment of the LifePath Spending Tool Site. 

4. Intellectual Property Rights.

You acknowledge that BlackRock owns or has a license to all title and intellectual property rights in and to the content provided on the LifePath Spending Tool Site.  All title and intellectual property rights in and to any licensed content provided on the LifePath Spending Tool Site is the property of the respective content owners and may be protected by applicable copyright or other intellectual property laws and treaties and subject to use restrictions under such laws or treaties. Accordingly, You may not copy, distribute, modify, post, frame or deep link the LifePath Spending Tool Site, including any text, graphics, video, audio, software code, user interface design or logos. You may download material displayed on the LifePath Spending Tool Site provided You also retain all copyright and other proprietary notices contained on the materials. You do not acquire any ownership or other rights to any content, documents or other materials accessed or viewed through the LifePath Spending Tool Site. The posting of information, documents or materials on the LifePath Spending Tool Site does not constitute a waiver of any right in such information and materials. Nothing contained on the LifePath Spending Tool Site should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on the LifePath Spending Tool Site without the written permission of BlackRock. Your use of the trademarks displayed on the LifePath Spending Tool Site, or any other content on the LifePath Spending Tool Site, except as expressly permitted herein, is strictly prohibited.  Images displayed on the LifePath Spending Tool Site are either the property of, or used with permission by, BlackRock. The use of these images by You, or anyone else authorized by You, is prohibited unless specifically permitted by BlackRock. Any unauthorized use of images or other content on the LifePath Spending Tool Site may violate copyright laws, trademark laws, the laws of privacy and publicity, and communications regulations and statutes.  If You download any information from the LifePath Spending Tool Site, You agree that You will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

5. Trademarks and Third-Party Trademarks.

The LifePath Spending Tool Site may contain third-party trademarks, service marks, graphics, and logos.  You are not granted any right or license with respect to the BlackRock trademarks or the trademarks of any third party.

6. WARRANTY DISCLAIMER AND LIMITATION OF LIABILITY.

THE LIFEPATH SPENDING TOOL SITE, AND ALL MATERIALS, INFORMATION AND OTHER CONTENT, AS WELL AS ANY PRODUCTS AND SERVICES PROVIDED ON THE LIFEPATH SPENDING TOOL SITE ARE PROVIDED “AS IS” AND WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESSED OR IMPLIED.  TO THE FULLEST EXTENT PERMISSIBLE BY APPLICABLE LAW, BLACKROCK DISCLAIMS ALL WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF NON-INFRINGEMENT OF THIRD-PARTY RIGHTS AND ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. BLACKROCK DOES NOT WARRANT, EITHER EXPRESSLY OR IMPLIEDLY, THE ACCURACY OR COMPLETENESS OF THE INFORMATION, TEXT, GRAPHICS, LINKS OR OTHER ITEMS CONTAINED ON THE LIFEPATH SPENDING TOOL SITE AND DOES NOT WARRANT THAT THE FUNCTIONS CONTAINED IN THE LIFEPATH SPENDING TOOL SITE WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE LIFEPATH SPENDING TOOL SITE WILL BE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. BLACKROCK EXPRESSLY DISCLAIMS ALL LIABILITY FOR ERRORS AND OMISSIONS IN THE MATERIALS ON THE LIFEPATH SPENDING TOOL SITE AND FOR THE USE OR INTERPRETATION BY OTHERS OF INFORMATION CONTAINED ON THE LIFEPATH SPENDING TOOL SITE.  BLACKROCK DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, THAT THE INFORMATION AND TOOLS ON THE LIFEPATH SPENDING TOOL SITE WILL PRODUCE ANY PARTICULAR INVESTMENT OUTCOME FOR ANY PARTICULAR INVESTOR.  WE DO NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE OR THE RESULTS OF THE USE OF THE CONTENT ON THE LIFEPATH SPENDING TOOL SITE IN TERMS OF THEIR CORRECTNESS, ACCURACY, RELIABILITY, OR OTHERWISE.  UNDER NO CIRCUMSTANCES ARE WE OR OUR AFFILAITES, LICENSORS, SERVICE PROVIDERS, OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS RESPONSIBLE FOR DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING LOST PROFITS, TRADING LOSSES OR DAMAGES THAT RESULT FROM THE USE OF THE LIFEPATH SPENDING TOOL OR ANY SPENDING ESTIMATES CONTAINED THEREIN) TO YOU OR ANY OTHER PARTY, EVEN IF WE HAVE BEEN APPRISED OF THE POSSIBILITIES OF SUCH DAMAGES OR LOSSES, INCLUDING, WITHOUT LIMITATION, FROM THE USE OR ATTEMPTED USE OF THE LIFEPATH SPENDING TOOL OR ANOTHER LINKED WEBSITE,  AND WHETHER OR NOT SUCH COULD HAVE BEEN FORESEEN OR PREVENTED.  IF YOU LIVE IN A STATE THAT DOES NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY OR INCIDENTAL OR CONSEQUENTIAL DAMAGES, OR IF YOU ACCESS THE LIFEPATH SPENDING TOOL SITE SOLELY THROUGH AN ARRANGEMENT WITH YOUR EMPLOYER OR PLAN SPONSOR, SOME OR ALL OF THESE LIMITATIONS AND EXCLUSIONS MAY NOT APPLY TO YOU. 

7. Indemnity. You will indemnify and hold BlackRock, its directors, officers, employees, affiliates, agents, contractors, licensors, suppliers and service providers harmless with respect to any and all suits, claims, demands, liabilities, losses, obligations, damages, costs and expenses (including but not limited to, reasonable attorney’s fees and other legal expenses arising out of, or alleged to arise out of, or related to: (i) Your breach of this agreement, including, but not limited to, any infringement by You of the copyright or intellectual property rights of any third party; or (ii) Your use of the LifePath Spending Tool Site (or any portion thereof), including Your use, or provision to third parties of any reports generated by or exported from the LifePath Spending Tool Site. Furthermore, BlackRock shall have the right to injunctive relief to enforce its rights hereunder.

8. Additional Disclosures.

a. Links to Other Websites.

BlackRock may establish links between the LifePath Spending Tool Site and one or more websites operated by third parties. BlackRock has no control over any such other websites, the contents therein or the products/services offered. The existence of any such links shall not constitute an endorsement of, or representation or warranty by BlackRock regarding such websites, the contents of the websites, the products or services of the websites or the operators of the websites. Your access to and use of such linked websites is governed by the terms of use and privacy policies of those sites, and shall be at Your own risk. BlackRock disclaims responsibility for the privacy policies and customer information practices of third-party internet websites hyperlinked from the LifePath Spending Tool Site.

b. Links to BlackRock from Other Websites.

Except as permitted under this Agreement, You shall not display hyperlinks on Your websites to any website owned or operated by BlackRock. If You desire to display on Your website a hyperlink to a BlackRock website, You must enter into a written agreement with BlackRock governing such display. Access to any BlackRock website does not authorize You to use any of BlackRock's names, logos, trademarks or copyrighted material, and You agree not to do so without BlackRock's express written consent. Requests to display hyperlinks on Your websites to BlackRock websites should be e-mailed to webmaster@blackrock.com.

c. Transmissions to and From the LifePath Spending Tool Site.

Electronic communications can be intercepted by third parties and, accordingly, transmissions to and from the LifePath Spending Tool Site may not be secure. Communications to BlackRock, particularly those containing confidential information, may be sent by mail to: BlackRock, Inc., 40 East 52nd Street, New York, NY 10022, Attn: Webmaster. BlackRock shall be free to use, for any purpose, any ideas, concepts, know-how, or techniques provided by a website user to BlackRock through the LifePath Spending Tool Site. BlackRock makes no warranty to You regarding the security of the LifePath Spending Tool Site, including with regard to the ability of any unauthorized persons to access information received or transmitted by You through or from the LifePath Spending Tool Site. BlackRock reserves the right to cease providing, or to change, the LifePath Spending Tool Site and content of such information (or any portion or feature thereof) at any time or frequency and without notice.

d. BlackRock will retain ownership of all information and data generated by or entered into the BlackRock Site including as pertains to your use thereof.

e. Privacy Policy.

Please review Our Privacy Policy, which is a part of this Agreement and hereby incorporated by reference, to learn about our information collection practices and the measures we take to preserve the privacy and security of Your information.

f. Timeliness of Content.

All content on the BlackRock Site is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. In addition, You are responsible for setting the cache settings on Your browser to ensure you are receiving the most recent data.

g. Prohibited Uses.

Except as otherwise stated in these Terms or as expressly authorized by BlackRock in writing, You may not:

Include the term "BlackRock", “LifePath” or any BlackRock trademark or executive's name, or any variation of the foregoing, as a meta-tag, hidden textual element; or

Use the LifePath Spending Tool Site in any manner that could create impression of affiliation, sponsorship or endorsement by BlackRock.

h. System Outages and Incomplete Transmissions.

Internet software or transmission problems may produce inaccurate or incomplete copies of information and materials that may be downloaded and displayed on a user's computer. BlackRock is not liable for any damages, changes, or omissions that occur during transmission of information and materials.

i. Termination.

BlackRock may terminate Your access to the LifePath Spending Tool Site for any reason, without prior notice.

j. Waiver.

No waiver by BlackRock of any right under or term or provision of these Terms will be deemed a waiver of any other right, term, or provision of these Terms at the time of such waiver or a waiver of that or any other right, term, or provision of these Terms at any other time.

k. Severability; Miscellaneous.

If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these Terms and will not affect the validity and enforceability of the remaining provisions.  BlackRock is an equal opportunity employer committed to diversity in the workplace.

9. Additional Terms.

a. You will be responsible for providing the dial-up, dsl, cable modem or other form of internet access and any other hardware and software necessary to access and use the LifePath Spending Tool Site.

b. If You know of, or suspect, copyright infringement, please send a notice to BlackRock, Inc., Head of Intellectual Property, Legal & Compliance, 55 East 52nd Street, New York, NY 10055.  The notice must contain all of the information set forth in section 512(c)(3)(a) of the U.S. Copyright Act, 17 u.s.c. § 101 et seq.

c. The information provided on the LifePath Spending Tool Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject BlackRock or its affiliates to any registration requirement within such jurisdiction or country. The services referred to on the LifePath Spending Tool Site is intended to be made available to only U.S. residents. The LifePath Spending Tool Site will not be considered a solicitation for or offering of any investment product or service to any person in any jurisdiction where such solicitation or offering would be illegal.

d. These Terms will be governed by the laws of the state of New York, notwithstanding any conflict of laws provisions thereof.  The exclusive jurisdiction for any claim, action or dispute with BlackRock or relating in any way to Your use of the LifePath Spending Tool Site will be in the state and federal courts of the state of New York and the venue for the adjudication or disposition of any such claim, action or dispute will be in the County of New York.

e. General contact information.  For questions regarding the LifePath Spending Tool Site or Your use of the LifePath Spending Tool Site, please email us at webmaster@blackRock.com.

Dated: March 2018.

©2018 BlackRock, Inc. All rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iRETIRE, iBONDS, FACTORSELECT, iTHINKING, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. All other marks are the property of their respective owners.