Fidelity Income Replacement Funds

You are purchasing shares of one or more Fidelity Income Replacement Funds (each, a "Fund," and collectively, the "Funds"). You understand and acknowledge that each Fund's investment objective is intended to support a payment strategy designed to be implemented through your voluntary participation in the Smart Payment Program^sm (the "Program"). You understand and acknowledge that by electing to participate in the Program, you are authorizing Fidelity Brokerage Services LLC and National Financial Services LLC (together "Fidelity"), as your agent to make monthly payments based on a schedule of annual target payment rates determined by the Fund's' adviser or its affiliate, as described in the Fund's prospectus, which you acknowledge you have read. You understand that payments made within a tax-advantaged retirement account will be credited to the account's core account. You understand and acknowledge that the monthly payment for a given month will consist of a Fund's dividends for that month and, if such dividends are less than the dollar amount of your monthly payment, the proceeds from the automatic sale of the appropriate number of your Fund shares required to pay the monthly payment. You acknowledge that estimated monthly payment information displayed on the order page when you execute a transaction for an Income Replacement Fund is a hypothetical illustration only. Your shares will be purchased or sold at the next NAV after your order is placed and your actual monthly payment may vary from the estimate. You understand that if the amount of a Fund's dividends for a given month is equal to or greater than the dollar amount of your monthly payment, then the entire monthly payment will come from dividends and any amount in excess of the monthly payment will be automatically reinvested in additional shares of the same Fund. You understand and acknowledge that the dollar amount of the monthly payments will remain the same each month of a given calendar year (actual monthly payments may vary slightly due to rounding), except that in the year of a Fund's horizon date the final monthly payment may vary in connection with the liquidation of the Fund. You understand and acknowledge that buying additional shares of a Fund or selling shares outside the Program generally will increase or decrease, respectively, the dollar amount of your monthly payments. You understand and acknowledge that the dollar amount of the monthly payments will depend on, among other factors, the annual target payment rate and the investment performance of and amount invested in a Fund, and will therefore generally fluctuate from one year to the next. You understand that ultimately, your participation in the Program will result in the gradual liquidation of all of your shares in a Fund by its horizon date as described in the Fund's prospectus.

You understand and acknowledge that the Funds are not designed for the accumulation of assets generally, prior to retirement. You understand and acknowledge that the Funds do not provide a complete solution for a shareholder's retirement or other income needs. You understand and acknowledge that principal preservation is not guaranteed, and your investment will be returned to you over time if you participate in the Program.

You understand that you may contact Fidelity at any time to suspend participation in the Program by telephone at 1-800-544-6666. You hereby authorize Fidelity to liquidate any remaining assets in a Fund and, with respect to non-retirement accounts, distribute the proceeds to you on or after its horizon date.

If you elect to participate in the Program: You hereby authorize Fidelity to redeem automatically the appropriate number of your Fund shares required to pay any monthly payment in which the Fund's dividends for that month are not sufficient to meet the monthly payment: and

You hereby authorize Fidelity to reinvest automatically any dividends in excess of any monthly payment and all capital gain distributions in additional shares of the same Fund.

Please note that the Fidelity Income Replacement Funds and the Smart Payment Program may not be appropriate for all investors. For example, depending on the time horizon, income needs and tax bracket, participation in the Smart Payment Program might not be appropriate for younger investors not currently in retirement, in IRAs or other tax-advantaged accounts for those investors under 59 1/2, or for participants in employer-sponsored plans. Investors who hold a Fidelity Income Replacement Fund within a tax-advantaged retirement account and who elect to participate in the Smart Payment Program should consult their tax advisers to discuss tax consequences that could result if payments are distributed from their core account prior to age 59 1/2 or if they plan to use the Smart Payment Program, in whole or in part, to meet their annual minimum required distribution. In addition, use of the Smart Payment Program may be restricted in employer-sponsored plans by the terms of the governing plan documents and/or at the discretion of the plan administrator. Review the information provided carefully with your financial adviser before deciding whether a Fidelity Income Replacement Fund is right for you.