David mentioned that he recalls reading something about the importance of determining a defensible fair market value for purposes of quantifying the amounts to be included into taxable income from the stock-based awards and asked for your advice as to the general approach that should be taken for the stock-based valuations so as to reduce risks with the IRS. In that the company will be private in the early years, the stock will not be traded on an exchange that would provide a readily available market valuation. Mr. Johnson is excited for his new opportunity and is looking forward to a good planning meeting with your Firm