ICMA-RC 1/8/2020 - Laserfiche WebLink

Plan number 301333 and other services based on assets invested in third party mutual funds; such administrative fees come from payments made by third party mutual funds to the settlement and clearing agent. (c) Administrative Allowance. ICMA-RC shall provide an annual administrative allowance from of Plan assets administered by ICMA-RC, as follows, subject to modification by mutual agreement by the parties: (i) In Year One, starting on the Inception Date, the administrative allowance shall be 0.10%of plan assets administered by ICMA- RC: (ii) In Year Two and thereafter, starting on the first anniversary of the Inception Date,the administrative allowance shall be 0.08%of plan assets administered by ICMA-RC. Such administrative allowance shall be held in an unallocated plan account and shall be distributed in quarterly installments to the Employer or to the Plan for reasonable Plan administration expenses. Such distributions reflect ICMA-RC's assumptions regarding the aggregate level of recordkeeping revenue received from the investment options offered by the Plan at the initiation of this Agreement. In the event that the Employer chooses to replace investment options during the term of this agreement, the revenue assumptions with respect to the new investment options will be re-evaluated, and the administrative allowance will be adjusted commensurately. Employer understands that the Plan administrative allowance is to be used only to pay for reasonable plan administrative expenses of the Plan or to be allocated to participant accounts under the Plan at the instruction of the Employer. (d) Redemption Fees. Redemption fees imposed by outside mutual funds in which Plan assets are invested are collected and paid to the mutual fund by ICMA-RC. ICMA-RC remits 100%of redemption fees back to the specific mutual fund to which redemption fees apply. These redemption fees and the individual mutual fund's policy with respect to redemption fees are specified in the prospectus for the individual mutual fund and referenced in the VT Disclosures. (e) Payment Procedures.All payments to ICMA-RC pursuant to this Section 7 shall be made from Plan assets held by VantageTrust or received from third-party mutual funds or their service providers in connection with Plan assets invested in such third-party mutual funds,to the extent not paid by the Employer. The amount of Plan assets administered by ICMA-RC shall be adjusted as required to reflect any such payments as are made from the Plan. In the event that the Employer agrees to pay amounts owed pursuant to this Section 7 directly, any amounts unpaid and outstanding after 30 days of invoice to the Employer shall be withdrawn from Plan assets. 7 of 13