Fidelity Retirement Plan Manager®. The fees for Fidelity Retirement Plan Manager® are set forth in the Investment Management Agreement set forth as Schedule “P” hereto. Unless paid by the Sponsor or deducted from the Plan pursuant to alternative, valid direction from the Plan’s Named Fiduciary, the quarterly fees for Fidelity Retirement Plan Manager® applicable to each Participant will be calculated, based on a Participant’s daily balances for all days not previously billed, generally on the 25th day (or next available Business Day) of the final month of the Participant statement cycle quarter. The Trustee shall redeem investments in the amount of such fee pro rata from the investment options in the electing Participant’s Plan account on the Business Day following the fee calculation. This amount will be noted on the Participant’s statement. In the event a Participant’s participation in the service is terminated before the end of a quarter, the fee will be prorated based on the number of days the account was managed during the quarter. Failure to deduct fees shall not constitute a fee waiver. • Other Fees: separate charges may apply for extraordinary expenses resulting from large numbers of simultaneous manual transactions, from errors not caused by Fidelity, reports not contemplated in this Agreement, corporate actions, or the provision of communications materials in hard copy which are also accessible to participants via electronic services in the event that the provision of such material in hard copy would result in an additional expense deemed to be material. The Administrator may withdraw reasonable administrative fees from the Trust by written direction to Fidelity. * This fee will be imposed pro rata for each calendar quarter, or any part thereof, that it remains necessary to keep a Participant’s account(s) as part of the Plan’s records, e.g., vested, deferred, forfeiture, top-heavy and terminated Participants who must remain on file through calendar year-end for 1099-R reporting purposes.
Fidelity Retirement Plan Manager®. (i) This section is intended to authorize appointment of an investment manager as contemplated in Section 402(c)(3) of ERISA. The Sponsor may appoint an investment manager, and, pursuant to the agreement attached as Schedule “M”, the Sponsor has so appointed Strategic Advisers with respect to assets held in the individual Plan accounts of participants electing to participate in the Fidelity Retirement Plan Manager® service. That appointment extends only to Managed Assets, as defined below.
(ii) Managed Assets shall be comprised of those assets held in or contributed to the individual plan accounts of eligible Participants (except for assets held in sponsor stock) from whom the Trustee or its agent has received In Good Order an election to participate in the Fidelity Retirement Plan Manager® service, and whose participation has not been terminated in accordance with subparagraph (iv). All Participants (including terminated and retired Participants) and beneficiaries are eligible for Fidelity Retirement Plan Manager®. In order to be eligible for the service, a Participant must have a Plan account balance equal to or greater than an amount as the Trustee and Strategic Advisers may determine in their sole discretion, after notice to the Sponsor. Participants who hold non-traditional investment options in their Plan account, such as self-directed brokerage assets, are ineligible for the service until such holdings are liquidated.
(iii) Purchases and sales of investment options initiated by the service shall be governed by the operating guidelines set out in Schedule “L”.
(iv) For so long as Fidelity Retirement Plan Manager® is offered, Strategic Advisers’ authority with respect to Managed Assets shall begin when Fidelity has confirmed receipt of an election In Good Order from an eligible Participant who has elected to participate in the service (and in the case of plans or portions thereof transferring to Fidelity recordkeeping services, at the conclusion of the Participant Recordkeeping Reconciliation Period). Strategic Advisers’ authority with respect to Managed Assets shall end with respect to a Participant when (A) the Participant terminates his or her election to participate in the Fidelity Retirement Plan Manager® service; (B) Managed Assets are withdrawn (through loan, withdrawal or distribution) or otherwise transferred out of the Participant’s account for any reason (but only to the extent of such withdrawal or transfer); (C) the Participant’s account ...
