Principal Background

Mr. Isaacs has been a registered investment advisor for 4 years. From 1991 to the present, he has served as a private trustee for a family trust where he oversaw the development and disposition of about 1,500 acres of real estate and has overseen the investments managed by separate portfolio managers. During that period he also advised large land owners on strategic land planning.

From 1997 to the present, he has served as a Director of Service Bancorp, a publicly traded bank in the Boston metro-west area. In addition, he serves on the Board of Directors of the principal subsidiary, Strata Bank and is the Chairman of the Compensation Committee of Service Bancorp. During this time, he also served as the CFO of two corporations, StoresontheWeb and Stress Directions Inc.

From 1980 to 1988, Mr. Isaacs worked as a vice president in commercial lending at Shawmut Bank of Boston where he was responsible for all tax-oriented equipment lease transactions. He also developed a program for the securitization and sale of leveraged-lease debt to correspondent banks. From 1988 to 1992, he worked at Lorac Leasing on similar lease transactions and the purchase of bank lease portfolios from the FDIC.

Mr. Isaacs graduated from Harvard College in 1975 and the Harvard Business School in 1980 where he concentrated in finance. He resides in Lincoln, Massachusetts where he is on the Board of Directors of Friends of the Sudanese, a 501(c)(3) organization which supports Sudanese refugees. In addition, he is a member of the Massachusetts General Hospital DCRP Advisory Board, a board which advises the Department of Psychiatry.