EquityAllocation: -♦- 0% 30%* 70% -K-100% Initial Funding Ratio = 1.5, No Payouts __________ +_________ -A--------- ------------- +--ll-i.^-------- ~--^--~J,-.------- ^_ J,--------- ~ " *■ * " * _- ...$,,, ■,arj :....^rf ,$.■ 15 Horizon EquityAllocation: -30% ----70% 1C       Initial Funding Ratio =1.5 7.5% Payouts                   90% -80% - 70% -60% -50% -                                                                                   30% -20% -10%-                                                   0%-   ,^-v-v^- ----- .^,----^w   ,-^WV-v--^---^--W----^a----■^^ 10 20 25 15 Horizon EquityAllocation: ■ 0% 30% -70% -100% FIGURE 10.11 (Continued)