<SEC-DOCUMENT>0001564590-19-023677.txt : 20190627
<SEC-HEADER>0001564590-19-023677.hdr.sgml : 20190627
<ACCEPTANCE-DATETIME>20190627094533
ACCESSION NUMBER:		0001564590-19-023677
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20181231
FILED AS OF DATE:		20190627
DATE AS OF CHANGE:		20190627

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MANITOWOC CO INC
		CENTRAL INDEX KEY:			0000061986
		STANDARD INDUSTRIAL CLASSIFICATION:	CONSTRUCTION MACHINERY & EQUIP [3531]
		IRS NUMBER:				390448110
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1219

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11978
		FILM NUMBER:		19923136

	BUSINESS ADDRESS:	
		STREET 1:		11270 WEST PARK PLACE
		STREET 2:		SUITE 10000
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53224
		BUSINESS PHONE:		9206522222

	MAIL ADDRESS:	
		STREET 1:		11270 WEST PARK PLACE
		STREET 2:		SUITE 10000
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53224
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>mtw-11k_20181231.htm
<DESCRIPTION>11-K
<TEXT>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Washington, D.C. 20549</p>
<p style="border-bottom:none 0pt;padding-bottom:0pt;text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:41.04%;margin-right:41.04%;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="border-bottom:none 0pt;padding-bottom:0pt;text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gfxv4prf21cx000001.jpg" title="" alt="" style="width:230px;height:53px;"></p>
<p style="text-align:center;border-bottom:Solid 1pt;padding-bottom:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:41.04%;margin-right:41.04%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:center;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM 11-K</p>
<p style="text-align:center;border-bottom:Solid 1pt;padding-bottom:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:41.04%;margin-right:41.04%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:center;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">THE SECURITIES EXCHANGE ACT OF 1934</p>
<p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">(Mark One)</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:MS Mincho;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:MS Mincho;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">&#9746;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </p></td></tr></table></div>
<p style="text-align:center;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">For the fiscal year ended December 31, 2018</p>
<p style="text-align:center;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">OR </p>
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<p style="margin-top:10pt;margin-bottom:0pt;font-weight:bold;font-family:MS Mincho;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:MS Mincho;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">&#9744;</font></p></td>
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<p style="margin-top:10pt;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </p></td></tr></table></div>
<p style="text-align:center;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">For the transition period from __________ to __________</p>
<p style="text-align:center;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Commission File Number 1-11978</p>
<p style="text-align:center;border-bottom:Solid 1pt;padding-bottom:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:41.04%;margin-right:41.04%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
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<p style="margin-top:10pt;margin-bottom:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A.</font></p></td>
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<p style="margin-top:10pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Full title of the plan and the address of the plan, if different from that of the issuer named below:</p></td></tr></table></div>
<p style="text-align:center;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">THE MANITOWOC COMPANY, INC. RETIREMENT SAVINGS PLAN</p>
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<p style="margin-top:10pt;margin-bottom:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">B.</font></p></td>
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<p style="margin-top:10pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</p></td></tr></table></div>
<p style="text-align:center;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">The Manitowoc Company, Inc.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">11270 West Park Place</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Suite 1000,</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Milwaukee, WI 53224</p>
<p style="text-align:center;margin-top:12pt;line-height:1pt;border-top:Solid 0.75pt #000000;padding-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:4pt;">&nbsp;</p>
<p style="text-align:center;margin-top:1pt;line-height:1pt;border-top:Solid 1pt;padding-top:1pt;margin-bottom:0pt;text-indent:0%;font-size:4pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><br /></p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;text-decoration:underline;font-size:12pt;">REQUIRED INFORMATION</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following financial statement and schedules of The Manitowoc Company, Inc. Retirement Savings Plan, prepared in accordance with the financial reporting requirements of the Employee Retirement Income Securities Act of 1974, as amended, are filed herewith.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:50pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:21pt;font-family:Times New Roman;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Manitowoc Company, Inc. </p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:21pt;font-family:Times New Roman;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Retirement Savings Plan</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:14pt;font-family:Times New Roman;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Milwaukee, Wisconsin</p>
<p style="margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:16pt;font-family:Times New Roman;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial Statements </p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:13pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Years Ended December 31, 2018 and 2019</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:13pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:50pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#FFFFFF;font-size:1pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:1pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:25.27%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Manitowoc Company, Inc. Retirement Savings Plan</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial Statements </p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Years Ended December 31, 2018 and 2017</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:16pt;font-family:Times New Roman;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Table of Contents</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<td style="width:3.53%;"></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:14pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#firm"><font style="text-decoration:none;">Report of Independent Registered Public Accounting Firm</font></a></p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:14pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:14pt;">&nbsp;</p></td>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:14pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial Statements</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:14pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:6pt;">&nbsp;</p></td>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:6pt;">&nbsp;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:6pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#Net_Assets"><font style="text-decoration:none;">Statements of Net Assets Available for Benefits</font></a></p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#Change_Net_Assets"><font style="text-decoration:none;">Statements of Changes in Net Assets Available for Benefits</font></a></p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;letter-spacing:-0.1pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="#Notes"><font style="text-decoration:none;">Notes to Financial Statements</font></a></p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;;font-weight:normal;font-style:normal;font-size:14pt;font-family:MartinGotURWTMed;text-transform:none;font-variant: normal;"><img src="gfxv4prf21cx000002.jpg" title="" alt="" style="width:203px;height:37px;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-style:normal;font-size:14pt;text-transform:none;font-variant: normal;"><a name="firm"></a>Report of Independent Registered Public Accounting Firm</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Plan Administrator</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Manitowoc Company, Inc. Retirement Savings Plan</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Milwaukee, WI</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:MartinGotURWTLig;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Hlk514068120"></a>Opinion on the Financial Statements</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We have audited the accompanying statements of net assets available for benefits of The Manitowoc Company, Inc. Retirement Savings Plan (the &#8220;Plan&#8221;) as of December 31, 2018 and 2017, and the related statements of changes in net assets available for benefits for the years ended December 31, 2018 and 2017, and the related notes (collectively referred to as the financial statements).&nbsp;&nbsp;In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2018 and 2017, and the changes in net assets available for benefits for the years ended December 31, 2018 and 2017, in conformity with accounting principles generally accepted in the United States.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:MartinGotURWTLig;font-style:normal;text-transform:none;font-variant: normal;">Basis for Opinion</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">These financial statements are the responsibility of the Plan&#8217;s management.&nbsp;&nbsp;Our responsibility is to express an opinion on the Plan&#8217;s financial statements based on our audits.&nbsp;&nbsp;We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&#8220;PCAOB&#8221;) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Hlk514154458"></a>We conducted our audits in accordance with standards of the PCAOB.&nbsp;&nbsp;Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, wheth<a name="_Hlk514154458"></a>er due to error or fraud.&nbsp;&nbsp;The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.&nbsp;&nbsp;As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan&#8217;s internal control over financial reporting.&nbsp;&nbsp;Accordingly, we express no such opinion.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks.&nbsp;&nbsp;Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.&nbsp;&nbsp;Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements.&nbsp;&nbsp;We believe that our audits provide a reasonable basis for our opinion.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Wipfli LLP</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We have served as the Plan&#8217;s auditor since 2003.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">La Crosse, Wisconsin </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 27, 2019</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU5"></a><a name="_Toc162677649"></a><a name="_Toc167158725"></a><a name="_Toc162677650"></a><a name="_Toc167158726"></a></p>
<p style="text-align:right;margin-top:12pt; clear:both;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1</a></p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.04%;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Times New Roman;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Statements of Net Assets Available for Benefits</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;letter-spacing:-0.1pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2018 and 2017</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="RANGE!A1:C19"></a><a name="Net_Assets"></a>&#160;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2018</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Assets</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investments - Interest in The Manitowoc Company, Inc. </p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style=" border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Employees&#8217; Profit Sharing Trust</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$20,676,082</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$28,147,722</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:10pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Receivables:</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style=" border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Interest</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,073</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">979</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style=" border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:16.2pt;">
<td valign="middle"  style=" border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets available for benefits</p></td>
<td valign="bottom"  style=" border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$20,677,155</p></td>
<td valign="bottom"  style=" border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$28,148,701</p></td>
</tr>
<tr style="height:16.2pt;">
<td valign="middle" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">See accompanying notes to financial statements.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:98%;"></table></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:28.56%;text-indent:0pt;;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:14pt;font-family:Times New Roman;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Statements of Changes in Net Assets Available for Benefits</p>
<p style="text-align:left;border-bottom:Solid 1.5pt;padding-bottom:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Years Ended December 31, 2018 and 2017</p>
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<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:98%;">
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<td style="width:61.23%;"></td>
<td style="width:18.39%;"></td>
<td style="width:18.39%;"></td>
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<tr>
<td style="width:61.23%;"></td>
<td style="width:18.39%;"></td>
<td style="width:18.39%;"></td>
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<tr style="height:4pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;"><a name="Change_Net_Assets"></a>&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2018</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2017</p></td>
</tr>
<tr style="height:3.5pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:46.8pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment income(loss) - Interest in net appreciation(depreciation) in fair value of The Manitowoc Company, Inc. Employees&#8217; Profit Sharing Trust</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">($3,738,376)</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$4,569,823 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:30pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Interest income on notes receivable from participants</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:30pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contributions:</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Employer</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0 </p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">25,745 </p></td>
</tr>
<tr style="height:11.25pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Participant</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">122,812 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:24pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total contributions</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0 </p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">148,557 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:20pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Deductions:</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Benefits paid to participants</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,673,843 </p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">22,750,110 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Plan administrative expenses</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">59,327 </p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">72,477 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Transfers to other plan</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">628,147 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:24pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total deductions</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,733,170 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">23,450,734 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net decrease in net assets available for benefits</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(7,471,546)</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(18,732,346)</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets available for benefits at beginning</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">28,148,701 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">46,881,047 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:16.2pt;">
<td valign="bottom"  style=" border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets available for benefits at end</p></td>
<td valign="bottom"  style=" border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$20,677,155 </p></td>
<td valign="bottom"  style=" border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$28,148,701 </p></td>
</tr>
<tr style="height:16.2pt;">
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">See accompanying notes to financial statements.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="Notes"></a><a name="_AEIOULastRenderedPageBreakAEIOU6"></a><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Plan Description</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;letter-spacing:-0.1pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Toc162677652"></a><a name="_Toc167158728"></a></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following description of The Manitowoc Company, Inc. Retirement Savings Plan (the &#8220;Plan&#8221;) provides only general information.&nbsp;&nbsp;Participants should refer to the Plan Agreement for a more complete description of the Plan&#8217;s provisions.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">General</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Plan is a retirement savings plan under Section 401(k) of the Internal Revenue Code (IRC). The Plan is available to all eligible employees of participating companies of The Manitowoc Company, Inc. (the &#8220;Company&#8221;).  Eligible employees include hourly domestic employees who are covered by a collective bargaining agreement between the participating company and the union representing employees of the participating company.  The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).&nbsp;&nbsp;The Company Retirement Plan Committee (the &#8220;Committee&#8221;) is responsible for oversight of the Plan.&nbsp;&nbsp;The Committee determines the appropriateness of the Plan&#8217;s investment offerings, monitors investment performance, and reports to the Board of Directors.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Participants in the Plan include former collectively bargained employees of Manitowoc Cranes, LLC. which was a wholly owned subsidiary or division of the Company, which effective January 1, 2019 became part of Grove U.S. LLC. Effective January 1, 2018, The Manitowoc Company, Inc. no longer has collectively bargained employees and no contributions are being made to this Plan.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU7"></a><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Plan Description</font><font style="font-size:12pt;font-weight:normal;"> (Continued)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Contributions<font style="font-size:10pt;font-weight:normal;"> </font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to 2018, total annual contributions to a participant&#8217;s account were limited to the lesser of 100% of the participant&#8217;s compensation for the year or the maximum contribution, including catch-up contributions, subject to limitations established by the Internal Revenue Service (IRS).&nbsp;&nbsp; The Plan also allowed direct rollovers from other qualified plans.&nbsp;&nbsp;Rollovers are not matched.&nbsp;&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Participants that were employed by Manitowoc Cranes, Inc. who were members of the Office and Professional Employees International Union Local 9 - AFL-CIO; and International Brotherhood of Electrical Workers - Local 158 received matching contributions at the rate of 25% of the first 4% of eligible compensation.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Participants that were employed by Manitowoc Cranes, LLC., who were members of Boilermakers Union - Local No. 443; Local Lodge 516 of the International Association of Machinist and Aerospace Workers Union AFL-CIO and Teamsters Union &#8211; Local No. 075 had a change in their match effective with the pay date that occurred on May 6, 2016.&nbsp;&nbsp;The two unions received matching contributions at the rate of 50%, of the first 4% of eligible compensation.&nbsp;&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">All participants in the Plan were eligible for a discretionary profit sharing contribution.&nbsp;&nbsp;There were no discretionary profit sharing contributions allocated for the 2018 or 2017 plan years.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Participants&#8217; Accounts</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;letter-spacing:-0.1pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Each participant&#8217;s account that was credited with the participant&#8217;s contributions, the Company&#8217;s contributions, is credited with allocation of plan earnings/losses and reduced for withdrawals and an allocation of investment expenses (based on account balances and participant investment elections).&nbsp;&nbsp;The benefit to which a participant is entitled is the benefit that can be provided from the participant&#8217;s vested account.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5</a></p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
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<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU8"></a><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Plan Description</font><font style="font-size:12pt;font-weight:normal;"> (Continued)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Vesting</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">All employee and rollover contributions and related earnings were 100% vested immediately.&nbsp;&nbsp;Company contributions for Manitowoc Cranes, LLC vested subject to a six-year graded vesting schedule.&nbsp;&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Participants who left the Company because of normal retirement, disability, or death were 100% vested.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Notes Receivable From Participants</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the event of financial hardship, as defined by IRS regulations, Plan participants could borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their employee and rollover contributions account balance.&nbsp;&nbsp;The notes were secured by the balance in the participant&#8217;s account and carried interest at prime rate plus 1%.&nbsp;&nbsp;At December 31, 2018 and 2017 there were no outstanding notes.&nbsp;&nbsp;Notes were repaid through payroll deductions over a period not to exceed five years.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Payment of Benefits</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Plan participants&#8217; vested account balances are available at normal retirement (age 65), disability retirement, death, and termination of employment.&nbsp;&nbsp;Benefits are payable in one lump sum, direct rollover, equal installments over a period of years, or an insurance company single premium nontransferable annuity contract.&nbsp;&nbsp;The Plan also allows for in-service distributions upon attaining age 59&#189;.&nbsp;&nbsp;Distributions may be made as soon as administratively feasible.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Forfeitures</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At December 31, 2018 and 2017, forfeited non-vested accounts totaled $28,514 and $69,462, respectively.&nbsp;&nbsp;These accounts will be used to reduce future employer contributions or to pay plan eligible expenses.&nbsp;&nbsp;During 2018 and 2017, no amounts were used to reduce employer contributions. During 2018 and 2017, forfeitures used to offset plan expenses were $44,858 and $327, respectively.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Transfers To/From Other Plan</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to 2018, the Plan and the Company allowed participants to transfer account balances between another plan sponsored by the Company when they transfer to a new division or their job status changes (i.e., union versus non-union).</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:14pt;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 2</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU9"></a><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Summary of Significant Accounting Policies</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Basis of Accounting</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The financial statements of the Plan are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States (GAAP).</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein and disclosure of contingent assets and liabilities.&nbsp;&nbsp;Actual results could differ from those estimates.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Investment Valuation and Income Recognition</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investments are reported at fair value.&nbsp;&nbsp;Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.&nbsp;&nbsp;The Plan&#8217;s Committee determines the Plan&#8217;s valuation policies utilizing information provided by its investment advisors and trustee.&nbsp;&nbsp;See Note 4 for discussion of fair value measurements.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Purchases and sales of securities are recorded on a trade-date basis.&nbsp;&nbsp;Interest income is recorded on the accrual basis.&nbsp;&nbsp;Dividends are recorded on the ex-dividend date.&nbsp;&nbsp;Net appreciation (depreciation) includes the Plan&#8217;s gains and losses on investments bought and sold as well as held during the year.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Notes Receivable From Participants</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">There were no Note receivables as of December 31, 2018 and 2017.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU10"></a></p></td></tr></table></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 2</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Summary of Significant Accounting Policies</font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-size:12pt;font-weight:normal;">(Continued)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Administrative Expenses</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Administrative expenses and audit fees incurred by the Plan are paid from the assets of the Plan.&nbsp;&nbsp;Fees related to the administration of notes receivable from participants are charged directly to the participant&#8217;s account and are included in administrative expenses.&nbsp;&nbsp;Investment related expenses are paid directly from the assets of the Master Trust.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="_Hlk11747357"></a>Subsequent Events</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:9pt;font-weight:bold;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:normal;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Subsequent events have been evaluated through the date the financial statements were issued.&nbsp;&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-weight:bold;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">New Accounting Pronouncement</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2017, the Financial Accounting Standards Board issued Accounting Standards Update (&#8220;ASU&#8221;) 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting (a consensus of the Emerging Issues Task Force).&#160; ASU 2017-06 clarify clarifies presentation requirements for a plan&#8217;s interest in a master trust and require more detailed disclosures of the plan&#8217;s interest in the master trust.&#160; ASU 2017-06 is effective for fiscal years beginning after December 15, 2018 with early adoption permitted and will be applied retrospectively to each period where financial statements are presented.&#160; The adoption of this ASU will impact certain disclosures around the plans interest in the master trust. </p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU11"></a></p></td></tr></table></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 3</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="font-weight:bold;"></font><font style="font-weight:bold;"></font><font style="font-weight:bold;">Investments in the Master Trust</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Plan&#8217;s investments are in the Master Trust which was established for the investment of assets of the Plan and other retirement plans sponsored by The Manitowoc Company, Inc.&nbsp;&nbsp;Each participating retirement plan has an undivided interest in the Master Trust.&nbsp;&nbsp;The assets of the Master Trust are held by BMO Harris Bank, N.A. (&#8220;BMO&#8221;).</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The value of the Plan&#8217;s interest in the Master Trust is based on the beginning of year value of the Plan&#8217;s interest in the Master Trust plus actual contributions and allocated investment income (loss), actual distributions, and allocated administrative expenses.&nbsp;&nbsp;At December 31, 2018 and 2017, the Plan&#8217;s interest in the net assets of the Master Trust was approximately 9% and 10%, respectively.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Trust and certain administrative expenses and transfers out of the Master Trust, are specifically identified with the particular plan. Investment income (loss) and certain administrative expense relating to the Master Trust are allocated to the individual plans based on the ratio of the investment balances of the plans.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU12"></a></p></td></tr></table></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9</p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note 3</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Investments in the Master Trust</font><font style="font-weight:normal;"> </font><font style="font-size:12pt;font-weight:normal;">(Continued)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets held by the Master Trust at December 31, 2018 and 2017 are as follows:</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2018</p></td>
<td valign="bottom"  style="width:20.1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.36%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.1%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:31.2pt;">
<td valign="middle"  style="width:59.54%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investments with fair value determined by quoted market price: </p></td>
<td valign="bottom"  style="width:20.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.54%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Common/collective trust funds</p></td>
<td valign="bottom"  style="width:20.36%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$69,551,542 </p></td>
<td valign="bottom"  style="width:20.1%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$100,647,897 </p></td>
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<td valign="middle"  style="width:59.54%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mutual funds</p></td>
<td valign="bottom"  style="width:20.36%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">158,984,721 </p></td>
<td valign="bottom"  style="width:20.1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">182,931,876 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.54%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:11pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total</p></td>
<td valign="bottom"  style="width:20.36%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$228,536,263</p></td>
<td valign="bottom"  style="width:20.1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$283,579,773</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.54%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash</p></td>
<td valign="bottom"  style="width:20.36%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">183,388 </p></td>
<td valign="bottom"  style="width:20.1%; border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">130,558 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom"  style="width:59.54%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.54%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets of the Master Trust</p></td>
<td valign="bottom"  style="width:20.36%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">228,719,651 </p></td>
<td valign="bottom"  style="width:20.1%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">283,710,331 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.54%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:20pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:31.2pt;">
<td valign="middle"  style="width:59.54%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:31.5pt;;text-indent:-31.5pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Less - Net assets allocated to The Manitowoc  Company, Inc. 401(K) Retirement Plan</p></td>
<td valign="bottom"  style="width:20.36%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">208,043,569 </p></td>
<td valign="bottom"  style="width:20.1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">255,562,609 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="bottom"  style="width:59.54%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:16.5pt;">
<td valign="middle"  style="width:59.54%; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets allocated to the Plan at fair value</p></td>
<td valign="bottom"  style="width:20.36%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$20,676,082 </p></td>
<td valign="bottom"  style="width:20.1%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$28,147,722 </p></td>
</tr>
<tr style="height:16.2pt;">
<td valign="middle"  style="width:59.54%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment income (loss) recognized by the Master Trust for the years ended December 31, 2018 and 2017 was allocated as follows:</p>
<div align="right">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:86%;">
<tr style="height:15.6pt;">
<td valign="middle"  style="width:62.32%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:16.86%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2018</p></td>
<td valign="bottom"  style="width:20.84%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:62.32%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment income (loss):</p></td>
<td valign="bottom"  style="width:16.86%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.84%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:17.4pt;">
<td valign="middle"  style="width:62.32%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:12pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Interest and dividends</p></td>
<td valign="bottom"  style="width:16.86%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$3,147,814 </p></td>
<td valign="bottom"  style="width:20.84%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$2,837,882 </p></td>
</tr>
<tr style="height:26.4pt;">
<td valign="middle"  style="width:62.32%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:13.5pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net appreciation (depreciation) in fair value of&nbsp;&nbsp;investments</p></td>
<td valign="bottom"  style="width:16.86%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(39,105,731)</p></td>
<td valign="bottom"  style="width:20.84%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">41,999,790 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:62.32%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Less investment expenses of the Master Trust:</p></td>
<td valign="bottom"  style="width:16.86%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(74,482)</p></td>
<td valign="bottom"  style="width:20.84%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(82,049)</p></td>
</tr>
<tr style="height:10.8pt;">
<td valign="middle"  style="width:62.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.86%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.84%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:62.32%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total investment income (loss) of the Master Trust</p></td>
<td valign="bottom"  style="width:16.86%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(36,032,399)</p></td>
<td valign="bottom"  style="width:20.84%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">44,755,623 </p></td>
</tr>
<tr style="height:31.2pt;">
<td valign="middle"  style="width:62.32%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp; Less - Investment income (loss) allocated to The</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp; Manitowoc Company, Inc. 401(K) Retirement Plan</p></td>
<td valign="bottom"  style="width:16.86%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(32,294,023)</p></td>
<td valign="bottom"  style="width:20.84%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">40,185,800 </p></td>
</tr>
<tr style="height:9pt;">
<td valign="middle"  style="width:62.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.86%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.84%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:16.2pt;">
<td valign="middle"  style="width:62.32%; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net investment income (loss) allocated to the Plan</p></td>
<td valign="bottom"  style="width:16.86%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">($3,738,376)</p></td>
<td valign="bottom"  style="width:20.84%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$4,569,823 </p></td>
</tr></table></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:29.54%;text-indent:0pt;;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;text-align:left;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;text-align:left;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;text-align:left;">&nbsp;</p>
<div align="right">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:86%;">
<tr style="height:16.2pt;">
<td valign="middle"  style="width:62.32%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.86%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.84%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><br /></font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU13"></a><a name="_AEIOULastRenderedPageBreakAEIOU14"></a></p></td></tr></table></div>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">11</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note 3</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Investments in the Master Trust</font><font style="font-weight:normal;"> </font><font style="font-size:12pt;font-weight:normal;">(Continued)</font><font style="font-weight:normal;"> </font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following are the changes in net assets for the Master Trust for the years ended December 31, 2018 and 2017:</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="right">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:86%;">
<tr style="height:16.05pt;">
<td valign="bottom"  style="width:4.76%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;"><a name="_Hlk11750960"></a>&nbsp;</p></td>
<td valign="bottom"  style="width:26.66%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.36%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:4.58%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:5.72%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2018</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.86%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.88%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.56%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2017</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
</tr>
<tr style="height:16.05pt;">
<td colspan="3" valign="middle"  style="width:46.8%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;"><a name="_Hlk11751218"></a>&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Interest and dividends</p></td>
<td valign="bottom"  style="width:4.58%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:-34.5pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:-34.5pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="middle"  style="width:5.72%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.6%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$ 3,147,814</p></td>
<td valign="middle"  style="width:2.86%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="middle"  style="width:2.88%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="middle"  style="width:18.56%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$ 2,837,882</p></td>
</tr>
<tr style="height:16.85pt;">
<td colspan="3" valign="middle"  style="width:46.8%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net appreciation (depreciation) in fair value of investments </p></td>
<td valign="middle"  style="width:4.58%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:5.72%; border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="middle"  style="width:18.6%; border-bottom:solid 1pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(39,105,731)</p></td>
<td valign="middle"  style="width:2.86%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="middle"  style="width:2.88%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.56%; border-bottom:solid 1pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">41,999,790</p></td>
</tr>
<tr style="height:16.05pt;">
<td valign="bottom"  style="width:4.76%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td colspan="2" valign="middle"  style="width:42.04%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net investment income (loss)</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="middle"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.6%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(35,957,917)</p></td>
<td valign="middle"  style="width:2.86%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="middle"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.56%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">44,837,672</p></td>
</tr>
<tr style="height:16.05pt;">
<td valign="bottom"  style="width:4.76%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:26.66%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.86%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.56%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:16.05pt;">
<td colspan="3" valign="middle"  style="width:46.8%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Master Trust expenses</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.6%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(74,482)</p></td>
<td valign="middle"  style="width:2.86%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.56%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(82,049)</p></td>
</tr>
<tr style="height:16.05pt;">
<td valign="bottom"  style="width:4.76%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:26.66%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.86%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.56%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:16.85pt;">
<td colspan="2" valign="middle"  style="width:31.42%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net transfers</p></td>
<td valign="bottom"  style="width:15.36%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:4.58%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:5.72%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.6%; border-bottom:solid 1pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(18,958,281)</p></td>
<td valign="middle"  style="width:2.86%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.88%; border-bottom:solid 1pt transparent;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.56%; border-bottom:solid 1pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(48,331,005)</p></td>
</tr>
<tr style="height:16.05pt;">
<td valign="bottom"  style="width:4.76%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td colspan="2" valign="middle"  style="width:42.04%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Decrease in assets</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="middle"  style="width:18.6%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(54,990,680)</p></td>
<td valign="middle"  style="width:2.86%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="middle"  style="width:18.56%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3,575,382)</p></td>
</tr>
<tr style="height:16.05pt;">
<td valign="bottom"  style="width:4.76%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:26.66%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.86%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.56%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:16.05pt;">
<td colspan="2" valign="middle"  style="width:31.42%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net Assets</p></td>
<td valign="bottom"  style="width:15.36%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.86%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.56%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:16.05pt;">
<td valign="bottom"  style="width:4.76%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td colspan="2" valign="middle"  style="width:42.04%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Beginning of Year</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="middle"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.6%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$ 283,710,331</p></td>
<td valign="middle"  style="width:2.86%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="middle"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.56%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$ 287,285,713</p></td>
</tr>
<tr style="height:16.05pt;">
<td valign="bottom"  style="width:4.76%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td colspan="2" valign="middle"  style="width:42.04%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">End of Year</p></td>
<td valign="bottom"  style="width:4.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;text-align:left;">&nbsp;</p></td>
<td valign="middle"  style="width:5.72%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.6%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$ 228,719,651</p></td>
<td valign="middle"  style="width:2.86%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></td>
<td valign="middle"  style="width:2.88%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p></td>
<td valign="middle"  style="width:18.56%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$ 283,710,331</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:14pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:4.65%;font-family:Times New Roman;font-size:14pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;font-size:14pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.04%;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:14pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;font-size:14pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.04%;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> <font style="margin-left:36pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 4</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU15"></a><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value Measurements</font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.&nbsp;&nbsp;The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level&#160;3 measurements).&nbsp;&nbsp;The three levels of the fair value hierarchy under Financial Accounting Standards Board Accounting Standards Codification 820 are described as follows: </p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Level 1</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Level 2</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Inputs to the valuation methodology include:</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:28.17%;text-indent:-14.08%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:28.17%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;">&nbsp;</p></td>
<td valign="top" style="width:3.52%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#000000;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;font-size:12pt;color:#000000;">Quoted prices for similar assets or liabilities in active markets.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:28.17%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;">&nbsp;</p></td>
<td valign="top" style="width:3.52%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#000000;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;font-size:12pt;color:#000000;">Quoted prices for identical or similar assets or liabilities in inactive markets.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:28.17%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;">&nbsp;</p></td>
<td valign="top" style="width:3.52%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#000000;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;font-size:12pt;color:#000000;">Inputs other than quoted prices that are observable for the asset or liability.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:28.17%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;">&nbsp;</p></td>
<td valign="top" style="width:3.52%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#000000;font-size:10pt;font-family:'Times New Roman';font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:10pt;font-family:'Times New Roman'">&#8226;</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:10pt;"><font style="font-family:Times New Roman;font-size:12pt;color:#000000;">Inputs that are derived principally from or corroborated by observable market data by correlation or other means.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:28.17%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Level 3</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Inputs to the valuation methodology are unobservable and significant to the fair value measurement.</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The asset&#8217;s or liability&#8217;s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.&nbsp;&nbsp;Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">12</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 4</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU16"></a><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value Measurements</font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-size:12pt;font-weight:normal;">(Continued)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Following is a description of the valuation methodologies used for assets measured at fair value.&nbsp;&nbsp;There have been no changes in methodologies used at December 31, 2018 and 2017.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Mutual funds:<font style="font-style:normal;">&nbsp;&nbsp;Valued at the net asset value (&#8216;NAV&#8217;) provided by the administrator of the fund.&nbsp;&nbsp;The NAV is a quoted price in an active market.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Common/collective trust funds:<font style="font-style:normal;">&nbsp;&nbsp;Valued at the NAV of units held by the Plan at year-end, provided by the administrator of the fund.&nbsp;&nbsp;The NAV is based on the value of the underlying assets of the fund, minus its liabilities, and then divided by the number of units outstanding.&nbsp;&nbsp;The NAV&#8217;s unit price is quoted on a private market that is not active; however, the unit price is based on underlying investments which are traded on an active market. </font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following tables set forth by level, within the fair value hierarchy, the Master Trust&#8217;s assets at fair value as of December 31, 2018 and 2017:<font style="color:#FF0000;"> </font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="right">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:86%;">
<tr style="height:18pt;">
<td valign="middle"  style="width:33.56%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td colspan="4" valign="bottom"  style="width:66.44%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value Measurements at December 31, 2018</p></td>
</tr>
<tr style="height:19.5pt;">
<td valign="middle"  style="width:33.56%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> (Level 1)</p></td>
<td valign="bottom"  style="width:16.1%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;(Level 2)</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> (Level 3)</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:33.56%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:11.5pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:16.1%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:33.56%; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total mutual funds</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$158,984,721</p></td>
<td valign="bottom"  style="width:16.1%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt transparent;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$158,984,721</p></td>
</tr>
<tr style="height:15pt;">
<td valign="middle"  style="width:33.56%;">
<p style="margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investments measured</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.1%;white-space:nowrap;">
<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:33.56%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:11.5pt;;text-align:left;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;at net asset value (a)</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:16.1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">69,551,542</p></td>
</tr>
<tr style="height:15pt;">
<td valign="bottom"  style="width:33.56%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.1%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:16.2pt;">
<td valign="middle"  style="width:33.56%; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total assets at fair value</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$158,984,721</p></td>
<td valign="bottom"  style="width:16.1%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$228,536,263</p></td>
</tr>
<tr style="height:16.2pt;">
<td valign="middle"  style="width:33.56%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.1%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:33.56%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td colspan="4" valign="bottom"  style="width:66.44%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:11.5pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value Measurements at December 31, 2017</p></td>
</tr>
<tr style="height:19.35pt;">
<td valign="middle"  style="width:33.56%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:16.78%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> (Level 1)</p></td>
<td valign="bottom"  style="width:16.1%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;(Level 2)</p></td>
<td valign="bottom"  style="width:16.78%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> (Level 3)</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:33.56%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11.5pt;text-align:left;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total mutual funds</p></td>
<td valign="bottom"  style="width:16.78%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$12,931,876</p></td>
<td valign="bottom"  style="width:16.1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$0</p></td>
<td valign="bottom"  style="width:16.78%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$0</p></td>
<td valign="bottom"  style="width:16.78%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt transparent;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$182,931,876</p></td>
</tr>
<tr style="height:15pt;">
<td valign="middle"  style="width:33.56%; border-top:double 2.5pt #000000;">
<p style="margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investments measured</p></td>
<td valign="bottom"  style="width:16.78%; border-top:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.1%; border-top:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%; border-top:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:33.56%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:11.5pt;;text-align:left;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;at net asset value (a)</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:16.1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$100,647,897</p></td>
</tr>
<tr style="height:15pt;">
<td valign="bottom"  style="width:33.56%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.1%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:16.78%; border-top:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:21.6pt;">
<td valign="middle"  style="width:33.56%; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total assets at fair value</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$182,931,876</p></td>
<td valign="bottom"  style="width:16.1%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$0</p></td>
<td valign="bottom"  style="width:16.78%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$283,579,773</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">13</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.39%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 4</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU17"></a><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value Measurements</font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-size:12pt;font-weight:normal;">(Continued)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:17.99%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:3.6%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">In accordance with Subtopic 820-10, certain investments that were measured at net asset value per share (or equivalent) have not been classified in the fair value hierarchy.&nbsp;&nbsp;The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the line items presented in the Statements of Net Assets Available for Benefits.</p></td></tr></table></div>
<p style=" clear:both;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:14pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:14pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.39%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 5</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;">Net Asset Value Per Share </p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.39%;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.39%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following tables set forth additional disclosures of the Master Trust&#8217;s investments whose fair value is estimated using net asset value per share as of December 31, 2018 and 2017: <font style="color:#FF0000;"> </font></p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.39%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="right">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:86%;">
<tr style="height:15pt;">
<td valign="middle"  style="width:25.04%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td colspan="5" valign="bottom"  style="width:15.5%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value Estimated Using Net Asset Value</p></td>
</tr>
<tr style="height:15pt;">
<td valign="middle"  style="width:25.04%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td colspan="5" valign="bottom"  style="width:15.5%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">per Share as of December 31, 2018</p></td>
</tr>
<tr style="height:42.75pt;">
<td valign="bottom"  style="width:25.04%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment</p></td>
<td valign="bottom"  style="width:15.5%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Fair&#160;Value</p></td>
<td valign="bottom"  style="width:14.6%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Unfunded Commitment</p></td>
<td valign="bottom"  style="width:13.7%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Redemption Frequency</p></td>
<td valign="bottom"  style="width:18.6%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Other&#160;Redemption Restrictions</p></td>
<td valign="bottom"  style="width:13.7%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Redemption Notice&#160;Period</p></td>
</tr>
<tr style="height:3.5pt;">
<td valign="middle"  style="width:25.04%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="middle"  style="width:15.5%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:14.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:4pt;">
<td valign="middle"  style="width:25.04%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.5%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:14.6%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:23.85pt;">
<td valign="bottom"  style="width:25.04%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Manitowoc Company, Inc. Common Stock Fund&#160;(a)</p></td>
<td valign="bottom"  style="width:15.5%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$11,124,982</p></td>
<td valign="bottom"  style="width:14.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Daily</p></td>
<td valign="bottom"  style="width:18.6%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Written or telephone notice</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1 day</p></td>
</tr>
<tr style="height:10.8pt;">
<td valign="middle"  style="width:25.04%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.5%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:14.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:27.75pt;">
<td valign="bottom"  style="width:25.04%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Welbilt Stock Fund&#160;- FBO Cranes(a)</p></td>
<td valign="bottom"  style="width:15.5%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$10,242,291</p></td>
<td valign="bottom"  style="width:14.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Daily</p></td>
<td valign="bottom"  style="width:18.6%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Written or telephone notice</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1 day</p></td>
</tr>
<tr style="height:10.8pt;">
<td valign="middle"  style="width:25.04%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.5%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:14.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:24.6pt;">
<td valign="bottom"  style="width:25.04%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Goldman Sachs Stable Value Fund&#160;(c)</p></td>
<td valign="bottom"  style="width:15.5%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$48,184,269</p></td>
<td valign="bottom"  style="width:14.6%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Daily</p></td>
<td valign="bottom"  style="width:18.6%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Written or telephone notice</p></td>
<td valign="bottom"  style="width:13.7%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1 day</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.39%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.39%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">14</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:30.18%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 5</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU18"></a><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net Asset Value Per Share</font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<div align="right">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:86%;">
<tr style="height:15pt;">
<td valign="middle"  style="width:25.4%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td colspan="5" valign="bottom"  style="width:74.96%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fair Value Estimated Using Net Asset Value</p></td>
</tr>
<tr style="height:15pt;">
<td valign="middle"  style="width:25.4%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td colspan="5" valign="bottom"  style="width:74.96%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">per Share as of December 31, 2017</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:27.9pt;">
<td valign="bottom"  style="width:25.4%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment</p></td>
<td valign="bottom"  style="width:14.08%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Fair&#160;Value</p></td>
<td valign="bottom"  style="width:14.68%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Unfunded Commitment</p></td>
<td valign="bottom"  style="width:13.78%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Redemption Frequency</p></td>
<td valign="bottom"  style="width:18.64%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Other&#160;Redemption Restrictions</p></td>
<td valign="bottom"  style="width:13.78%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Redemption Notice&#160;Period</p></td>
</tr>
<tr style="height:12pt;">
<td valign="middle"  style="width:25.4%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="middle"  style="width:15.58%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:14.68%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.64%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:2.4pt;">
<td valign="middle"  style="width:25.4%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.58%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:14.68%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.64%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:25.2pt;">
<td valign="bottom"  style="width:25.4%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Manitowoc Company, Inc. Common Stock Fund&#160;(a)</p></td>
<td valign="bottom"  style="width:15.58%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$23,248,408</p></td>
<td valign="bottom"  style="width:14.68%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Daily</p></td>
<td valign="bottom"  style="width:18.64%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Written or telephone notice</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1 day</p></td>
</tr>
<tr style="height:10.8pt;">
<td valign="middle"  style="width:25.4%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.58%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:14.68%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.64%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:25.2pt;">
<td valign="bottom"  style="width:25.4%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Welbilt Stock Fund&nbsp;&nbsp;- FBO Cranes(a)</p></td>
<td valign="bottom"  style="width:15.58%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$26,356,316</p></td>
<td valign="bottom"  style="width:14.68%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Daily</p></td>
<td valign="bottom"  style="width:18.64%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Written or telephone notice</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1 day</p></td>
</tr>
<tr style="height:7.2pt;">
<td valign="middle"  style="width:25.4%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:15.58%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:14.68%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:18.64%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:4pt;">
<td valign="bottom"  style="width:25.4%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">MTW Stable Value Fund&#160;(b)</p></td>
<td valign="bottom"  style="width:15.58%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$51,043,173</p></td>
<td valign="bottom"  style="width:14.68%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Daily</p></td>
<td valign="bottom"  style="width:18.64%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Written or telephone notice</p></td>
<td valign="bottom"  style="width:13.78%;white-space:nowrap;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1 day</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:3.52%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">This is a single stock portfolio that tracks the performance of The Manitowoc Company, Inc. common stock, or Welbilt Company stock.</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:17.61%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The prices of the stocks can fluctuate from day to day or month to month and is designed for individuals who invest for the long term and can tolerate short-term volatility.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:3.52%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">The objective of this investment is to seek safety of principal and consistency of return while attempting to maintain minimal volatility. </p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:3.52%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(c)</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">The objective of this investment is to earn income, while seeking to preserve capital and stability of principal. </p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:14pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a></p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">15</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style=" clear:both;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note </font><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">6</font></p></td>
<td valign="top">
<p style=" clear:both;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU19"></a>Party-in-Interest Transactions</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Transactions involving The Manitowoc Company, Inc. common stock and notes receivable from participants are considered party-in-interest transactions.&nbsp;&nbsp;These transactions are not, however, considered prohibited transactions under 29 CFR 408(b) of ERISA regulations.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:9pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain plan investments are common/collective trust funds and a money market fund managed by BMO.&nbsp;&nbsp;BMO is the trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions.&nbsp;&nbsp;There were no fees paid by the Plan to the trustee directly for administrative expenses for 2018 or 2017, nor were there fees paid to the trustee through revenue sharing for 2018 or 2017.&nbsp;&nbsp;The Plan paid fees directly to Morgan Stanley Global Banking for investment advisory services in the amount of $15,000 for 2018 and $11,250 for 2017.&nbsp;&nbsp;The Plan paid recordkeeping fees to OneAmerica in the amount of $29,291 for 2018 and $43,415 for 2017 and paid audit fees to Wipfli LLP in the amount of $12,075 and $11,950 for the years ended December 31, 2018 and 2017, respectively. The Plan paid administrative fees to Willis of Illinois in the amount of $2,961 for 2018 and $5,862 for 2017.&nbsp;&nbsp;</p>
<p style=" clear:both;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.54%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note </font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">7</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU20"></a><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Partial</font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Plan Termination</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Manitowoc Company, Inc. intends to continue the Plan indefinitely; however, the Company reserves the right to terminate the Plan at any time.&nbsp;&nbsp;In the event of termination, all amounts credited to participants&#8217; accounts shall become 100% vested and distributed to participants in accordance with the Plan&#8217;s provisions.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.08%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note </font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">8</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU21"></a>Tax-Exempt Status of the Plan</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On November 9, 2017 the IRS declared that the Plan is qualified pursuant to Section 401 of the IRC.&nbsp;&nbsp;Plan management believes any amendments and events since the effective date of the last IRS determination letter do not affect the qualified status of the Plan.&nbsp;&nbsp;Accordingly, the Plan is exempt from federal and state income taxes under current provisions of their respective laws.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.08%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.13%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note </font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">9</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU22"></a>Reconciliation of Financial Statements to Form 5500</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;letter-spacing:-0.1pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2018 and 2017, to Form 5500:</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="right">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:86%;">
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.88%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:20.06%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2018</p></td>
<td valign="bottom"  style="width:20.06%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.88%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.06%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.06%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:31.2pt;">
<td valign="middle"  style="width:59.88%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets available for benefits per the financial statements</p></td>
<td valign="bottom"  style="width:20.06%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$20,677,155 </p></td>
<td valign="bottom"  style="width:20.06%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$28,148,701 </p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.88%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pending distributions</p></td>
<td valign="bottom"  style="width:20.06%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(21,407)</p></td>
<td valign="bottom"  style="width:20.06%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(45,192)</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:59.88%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.06%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:20.06%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:16.5pt;">
<td valign="middle"  style="width:59.88%; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net assets available for benefits per Form 5500</p></td>
<td valign="bottom"  style="width:20.06%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$20,655,748 </p></td>
<td valign="bottom"  style="width:20.06%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$28,103,509 </p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">17</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-right:29.64%;text-indent:0%;font-family:Times New Roman;font-size:24pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:14pt;letter-spacing:-0.1pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notes to Financial Statements</p>
<p style="border-bottom:Solid 1.5pt;padding-bottom:3pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.13%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note </font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">9</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU23"></a><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Reconciliation of Financial Statements to Form 5500 </font><font style="font-weight:normal;">(Continued)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;letter-spacing:-0.1pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following is a reconciliation of the change in net assets available for benefits per the financial statement for the plan year December 31, 2018 and 2017, to Form 5500:</p>
<div align="right">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:86%;">
<tr style="height:15.6pt;">
<td valign="middle"  style="width:57.56%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
<td valign="bottom"  style="width:19.6%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2018</p></td>
<td valign="bottom"  style="width:22.84%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:57.56%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
<td valign="bottom"  style="width:19.6%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:22.84%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:31.2pt;">
<td valign="middle"  style="width:57.56%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net decrease in net assets available for benefits per the financial statements</p></td>
<td valign="bottom"  style="width:19.6%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">($7,471,546)</p></td>
<td valign="bottom"  style="width:22.84%;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">($18,732,346)</p></td>
</tr>
<tr style="height:18.75pt;">
<td valign="middle"  style="width:57.56%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pending distributions</p></td>
<td valign="bottom"  style="width:19.6%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">23,785 </p></td>
<td valign="bottom"  style="width:22.84%; border-bottom:solid 0.75pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(6,491)</p></td>
</tr>
<tr style="height:15.6pt;">
<td valign="middle"  style="width:57.56%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="bottom"  style="width:19.6%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
<td valign="bottom"  style="width:22.84%;white-space:nowrap;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;text-align:left;">&nbsp;</p></td>
</tr>
<tr style="height:16.5pt;">
<td valign="middle"  style="width:57.56%; border-bottom:double 2.5pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Change in net assets per Form 5500</p></td>
<td valign="bottom"  style="width:19.6%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">($7,447,761)</p></td>
<td valign="bottom"  style="width:22.84%; border-bottom:double 2.5pt #000000;white-space:nowrap;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">($18,738,837)</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;font-size:4pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.13%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:14pt;font-style:normal;text-transform:none;font-variant: normal;">Note 10</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;"><font style="letter-spacing:-0.1pt;">Risks and Uncertainties</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Master Trust<font style="font-size:11.5pt;">&#8217;</font>s investments are exposed to various risks, such as interest rate, market, and credit risks.&nbsp;&nbsp;Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants&#8217; account balances and the amounts reported in the statements of net assets available for benefits.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:14.13%;white-space:nowrap">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:14pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 11</font></p></td>
<td valign="top">
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:14pt;">Voluntary Correction Program</p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company filed a Voluntary Correction Program (VCP) submission with the IRS on January 31, 2011, to address the manner, in which the Plan&#8217;s hardship and in-service distributions were approved for plan participants.&nbsp;&nbsp;These items did not have a material impact on the Plan&#8217;s net assets available for benefits, and the Company does not expect the VCP submission to affect the Plan&#8217;s tax status.&nbsp;&nbsp;As of December 31, 2018, the submission is still outstanding.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:14.13%;text-indent:0%;font-family:Times New Roman;"><a name="_Hlk12372568"></a>&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">18</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div>
<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;">
<tr>
<td valign="bottom"  style="padding-left:0pt;padding-Right:0pt;width:9.64%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="top"  style="width:0.82%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:73.58%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">EXHIBIT INDEX</p></td>
<td valign="top"  style="width:0.84%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:0.84%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:0.86%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:10.7%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:8pt;">&nbsp;</p></td>
<td valign="top"  style="padding-left:0pt;padding-Right:0pt;width:2.72%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr>
<td valign="bottom"  style="padding-left:0pt;padding-Right:0pt;width:9.64%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit&#160;No.</p></td>
<td valign="top"  style="width:0.82%; border-bottom:solid 0.75pt transparent;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:73.58%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
<td valign="top"  style="width:0.84%; border-bottom:solid 0.75pt transparent;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:0.84%; border-bottom:solid 0.75pt transparent;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:0.86%; border-bottom:solid 0.75pt transparent;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:10.7%; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Filed</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Herewith</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">23.1</p></td>
<td valign="bottom"  style="width:0.82%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:73.58%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="mtw-ex231_6.htm"><font style="text-decoration:none;">Consent of WIPFLI LLP</font></a></p></td>
<td valign="top"  style="width:0.84%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:0.84%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="top"  style="width:0.86%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:10.7%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">X</p></td>
<td valign="bottom"  style="padding-left:0pt;padding-Right:0pt;width:2.72%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU24"></a><a name="SIGNATURES"></a><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="SIGNATURES"></a>SIGNAT</font><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">URES</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee, which administers the Plan, has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Milwaukee, and State of Wisconsin on the 27th day of June, 2019.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<div>
<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;">
<tr>
<td valign="bottom"  style="width:49.92%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date:&nbsp;&nbsp;June 27, 2019</p></td>
<td valign="bottom"  style="width:50.08%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Manitowoc Company,&#160;Inc.</p></td>
</tr>
<tr>
<td valign="bottom"  style="width:49.92%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Registrant)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<td valign="bottom"  style="width:49.92%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Barry L. Pennypacker</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Barry L. Pennypacker</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">President and Chief Executive Officer</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<td valign="bottom"  style="width:49.92%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ David J. Antoniuk</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%; border-top:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">David J. Antoniuk</p></td>
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<td valign="bottom"  style="width:49.92%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Senior Vice President and Chief Financial Officer</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<td valign="bottom"  style="width:49.92%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<td valign="bottom"  style="width:49.92%; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%; border-bottom:solid 0.75pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Thomas L. Doerr, Jr.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thomas L. Doerr, Jr.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style="width:50.08%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Senior Vice President, General Counsel &amp; Secretary</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:MartinGotURWTLig;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">20</a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Consent of Independent Registered Public Accounting Firm</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We hereby consent to the incorporation by reference in Registration Statement No. 333-213877 on Form&#160;S-8, of our report dated June 27, 2019, relating to the financial statements of The Manitowoc Company, Inc. Retirement Savings Plan which appear in this Form 11-K.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ WIPFLI LLP</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Wipfli LLP</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 27, 2019</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">La Crosse, Wisconsin </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></body>
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