Common use of VCP fee for egregious failures Clause in Contracts

VCP fee for egregious failures. Notwithstanding the preceding provisions of this section 12, in cases involving failures that are egregious (as described in section 4.08), the compliance fee for Qualified Plans, 403(b) Plans, SEPs and SIMPLE IRA Plans is the greater of (1) the fee that would be determined under the preceding provisions of this section 12, or (2) an amount equal to a negotiated percentage of the Maximum Payment Amount, such percentage not to exceed 40 percent.

VCP fee for egregious failures. Notwithstanding the preceding provisions of this section 12sections 12.02 and 12.05, in cases involving failures that are egregious (as described in section 4.08), the compliance fee for Qualified Plans, 403(b) Plans, SEPs and SIMPLE IRA Plans is the greater of (1) the fee that would be determined under the preceding provisions of this section 12sections 12.02 and 12.05, or (2) an amount equal to a negotiated percentage of the Maximum Payment AmountAmount (Total Sanction Amount for a 403(b) Plan), such percentage not to exceed 40 percent.