Common use of WHAT DOES THE SETTLEMENT PROVIDE Clause in Contracts

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below). Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the Plans. Authorized Former Participants who are entitled to a distribution may receive their distribution as a check or, if available and they elect, as a rollover to a qualified retirement account. In addition, the Settlement provides that prospectively as of the Settlement Effective Date: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review of the investment options in the Plan, and review and approve any communications to participants regarding the Plans’ investment options; (2) for a period of no less than three years, all expense reimbursements by the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursements; and (3) before the expiration of the current recordkeeping agreement for the Plans, McKinsey will issue a request for proposal for recordkeeping services for the Plan. All Class Members and anyone claiming through them will fully release the Plans as well as Defendants and the Released Parties from Released Claims. The governing release terms are found within the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generally, the release means that Class Members will not have the right to sue the Plans, Defendants, or related parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In addition to the monetary component of the Settlement, as discussed above, Defendant agreed that the Plan’s fiduciaries will conduct a RFP process for recordkeeping services to the Plan. Within the first year following final approval of the Settlement, Defendant has agreed to publish a communication to then current Plan participants explaining the risks and benefits of the Plan’s money market fund investment option. Defendant also will use an independent consultant familiar with fixed income investment options in such plans who will review the investment lineup and make recommendations to the Plan’s fiduciaries regarding whether to retain the money market fund and whether to add a stable value or comparable fund. In addition, during the three-year Settlement provides that prospectively as period, Defendant has agreed to provide Class Counsel a list of the Settlement Effective DatePlan’s investment options and fees. In considering investment options for the Plan, Defendant has agreed that the Plan’s fiduciaries will consider: (1) the lowest-cost share class available for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review of the investment options any mutual fund considered for inclusion in the Plan, and review and approve any communications Plan as well as other criteria applicable to participants regarding the Plans’ investment optionsdifferent share classes; (2) the availability of revenue sharing rebates on any share class available for a period of no less than three years, all expense reimbursements by any mutual fund considered for inclusion in the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsPlan; and (3) before the expiration availability of collective trusts, to the current recordkeeping agreement extent such investments are permissible and are otherwise identical to a particular mutual fund considered for inclusion in the Plans, McKinsey will issue a request for proposal for recordkeeping services for the Plan. Plan All Class Members and anyone claiming through them will fully release the Plans Plan as well as Defendants Defendant and the its “Released Parties” from “Released Claims.” The Released Parties from Released Claims. The governing release terms are found within the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generally, the release means that Class Members will not have the right to sue the Plans, Defendants, or related parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].include (a) Defendant and its insurers,

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below). Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the Plans. Authorized Former Participants who are entitled to a distribution may receive their distribution as a check or, if available and they elect, as a rollover to a qualified retirement account. In addition, the Settlement provides that prospectively as of the Settlement Effective Date: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review of the investment options in the PlanPlans, and review and approve any communications to participants regarding the Plans’ investment options; (2) for a period of no less than three years, all expense reimbursements by the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursements; and (3) before the expiration of the current recordkeeping agreement for the Plans, McKinsey will issue a request for proposal for recordkeeping services for the PlanPlans. All Class Members and anyone claiming through them will fully release the Plans as well as Defendants and the Released Parties from Released Claims. The governing release terms are found within the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generally, the release means that Class Members will not have the right to sue the Plans, Defendants, or related parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionaddition to the monetary component of the Settlement, as discussed above, the Settlement also provides certain additional terms that prospectively as provide substantial value to Class Members and materially add to the total value of the Settlement Effective Dateabove the already significant monetary component. These additional terms include: (1) within 30 calendar days after the end of the first and second year of the Settlement Period, Duke will provide to Class Counsel a list of the Plan’s investment options and fees, and a copy of the Plan’s Investment Policy Statement (if any); (2) no later than January 1, 2020, Duke shall communicate, in writing, with current Plan participants and inform them of the investment options available in the new lineup, including the annuity option, and provide a link to a webpage containing the fees and performance information for the new investment options and the contact information for the individual or entity that can facilitate a period fund transfer for participants who seek to transfer their investments in frozen annuity accounts to another fund in the Plan; (3) during the third year of no less than three yearsthe Settlement Period, Defendants the Plan’s fiduciaries shall retain an independent investment consultant to provide ongoing review a recommendation regarding whether the Plan fiduciaries should issue Requests for Proposals for recordkeeping and administrative services provided to the Plan; (4) during the Settlement Period, in considering Plan investment options, the Plan’s fiduciaries shall consider, among other factors: (a) the cost of different share classes available for any particular mutual fund considered for inclusion in the Plan as well as other criteria applicable to different share classes; and (b) the availability of revenue sharing rebates on any share class available for any investment options option considered for inclusion in the Plan, and review and approve any communications to participants regarding the Plans’ investment options; (2c) for a period of no less than three years, all expense reimbursements by other factors that the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsPlan fiduciaries deem appropriate under the circumstances; and (35) before during the expiration of the current recordkeeping agreement for the PlansSettlement Period, McKinsey will issue a request for proposal for recordkeeping services for Duke shall not cause Plan assets or assets held in the Plan’s ERISA revenue credit or reimbursement account to be used to pay salaries and fringe benefits and other expenses incurred by Duke for services performed by Duke employees. All Class Members and anyone claiming through them will fully release the Plans Plan as well as the Duke Defendants and the “Released Parties” from “Released Claims.” The Released Parties from Released Claims. The governing release terms are found within include: (a) Duke University, the Duke University Investment Advisory Committee, Duke University Health System, Inc. d/b/a Duke University Hospital, the Private Diagnostic Clinic, PLLC, and certain individual defendants identified in the Settlement Agreement; (b) their insurers, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generallyco-insurers, and reinsurers, (c) their past, present, and future parent corporation(s), (d) their past, present, and future affiliates, subsidiaries, divisions, joint ventures, predecessors, successors, successors- in-interest, and assigns, (e) their past, present and future members of their respective boards of trustees, agents, officers, employees, independent contractors, representatives, attorneys, administrators, fiduciaries, accountants, auditors, advisors, consultants, personal representatives, spouses, heirs, executors, administrators, associates, employee benefit plan fiduciaries (with the release means that Class Members will not have exception of the right Independent Fiduciary), employee benefit plan administrators, service providers to sue the PlansPlan (including their owners and employees), Defendantsmembers of their immediate families, consultants, subcontractors, and all persons acting under, by, through, or related parties for conduct during the Class Period arising out in concert with any of or relating to the allegations in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].them, and

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In addition to the monetary component of the Settlement, as discussed above, Xxxxxxxxx agreed that the Plan's fiduciaries will conduct a RFP process for recordkeeping services to the Plan. Within the first year following final approval of the Settlement, Defendant has agreed to publish a communication to then current Plan participants explaining the risks and benefits of the Plan's money market fund investment option. Defendant also will use an independent consultant familiar with fixed income investment options in such plans who will review the investment lineup and make recommendations to the Plan's fiduciaries regarding whether to retain the money market fund and whether to add a stable value or comparable fund. In addition, during the three-year Settlement provides that prospectively as period, Defendant has agreed to provide Class Counsel a list of the Settlement Effective DatePlan's investment options and fees. In considering investment options for the Plan, Defendant has agreed that the Plan's fiduciaries will consider: (1) the lowest-cost share class available for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review of the investment options any mutual fund considered for inclusion in the Plan, and review and approve any communications Plan as well as other criteria applicable to participants regarding the Plans’ investment optionsdifferent share classes; (2) the availability of revenue sharing rebates on any share class available for a period of no less than three years, all expense reimbursements by any mutual fund considered for inclusion in the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsPlan; and (3) before the expiration availability of collective trusts, to the current recordkeeping agreement extent such investments are permissible and are otherwise identical to a particular mutual fund considered for inclusion in the Plans, McKinsey will issue a request for proposal for recordkeeping services for the Plan. Plan All Class Members and anyone claiming through them will fully release the Plans Plan as well as Defendants Defendant and the its “Released Parties” from “Released Claims.” The Released Parties from Released Claims. The governing release terms are found within the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generally, the release means that Class Members will not have the right to sue the Plans, Defendants, or related parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].include (a) Defendant and its insurers,

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionaddition to the monetary component of the Settlement, as discussed above, the Settlement also provides certain additional terms that prospectively as provide substantial value to Class Members and materially add to the total value of the Settlement Effective Dateabove the already significant monetary component. These additional terms include: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review within thirty (30) calendar days after the end of the first and second years of the Settlement Period, and within thirty (30) calendar days after the conclusion of the Settlement Period, the Vanderbilt Defendants will provide Class Counsel a list of the Plan’s investment options and the fees for those investment options, as well as a copy of the Investment Policy Statement for the Plan; (2) no later than January 31, 2020, Vanderbilt University will communicate by email with currently employed Plan participants identifying current investment options in the Plan, providing a link to a disclosure of the fees and review performance of the frozen annuity accounts and approve any communications to participants regarding the Plans’ current investment options; (2) , and providing contact information for a period of no less than three years, all expense reimbursements by the Plans to McKinsey, MIO, or any other affiliated person individual or entity will that can facilitate a fund transfer; the form of this communication shall be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsClass Counsel; and (3) on or before April 1, 2022, the expiration of the current recordkeeping agreement for the Plans, McKinsey will issue Plan’s fiduciaries shall conduct a request for proposal proposals (RFP) for recordkeeping and administrative services for the Plan. All Class Members and anyone claiming through them will fully release Plan to at least three qualified service providers; the Plans as well as Defendants and RFP shall request that any proposal for basic recordkeeping services express fees on a per-participant basis; (4) after conducting the Released Parties from Released Claims. The governing release terms are found within the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. GenerallyRFP, the release means that Class Members will not have Plan fiduciaries may decide to retain the right to sue current recordkeeper or retain a new recordkeeper; the Plans, Defendants, or related parties for conduct during Plan’s fiduciaries shall contractually prohibit the Class Period arising out recordkeeper from using information about Plan participants acquired in the course of or relating providing recordkeeping services to the allegations in Plan to market or sell products or services unrelated to the lawsuit. The entire Settlement Agreement Plan to Plan participants unless a request for such products or services is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].initiated by a Plan participant; (5) within thirty

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionaddition to the monetary component of the Settlement, as discussed above, the Settlement also provides certain additional terms that prospectively as provide substantial value to Class Members and materially add to the total value of the Settlement Effective Dateabove the already significant monetary component. These additional terms include: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review within thirty (30) calendar days after the end of the first and second years of the Settlement Period, and within thirty (30) calendar days after the conclusion of the Settlement Period, the Vanderbilt Defendants will provide Class Counsel a list of the Plan's investment options and the fees for those investment options, as well as a copy of the Investment Policy Statement for the Plan; (2) no later than January 31, 2020, Vanderbilt University will communicate by email with currently employed Plan participants identifying current investment options in the Plan, providing a link to a disclosure of the fees and review performance of the frozen annuity accounts and approve any communications to participants regarding the Plans’ current investment options; (2) , and providing contact information for a period of no less than three years, all expense reimbursements by the Plans to McKinsey, MIO, or any other affiliated person individual or entity will that can facilitate a fund transfer; the form of this communication shall be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsClass Counsel; and (3) on or before April 1, 2022, the expiration of the current recordkeeping agreement for the Plans, McKinsey will issue Plan's fiduciaries shall conduct a request for proposal proposals (“RFP”) for recordkeeping and administrative services for the Plan. All Class Members and anyone claiming through them will fully release Plan to at least three qualified service providers; the Plans as well as Defendants and RFP shall request that any proposal for basic recordkeeping services express fees on a per-participant basis; (4) after conducting the Released Parties from Released Claims. The governing release terms are found within the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. GenerallyRFP, the release means that Class Members will not have Plan fiduciaries may decide to retain the right to sue current recordkeeper or retain a new recordkeeper; the Plans, Defendants, or related parties for conduct during Plan's fiduciaries shall contractually prohibit the Class Period arising out recordkeeper from using information about Plan participants acquired in the course of or relating providing recordkeeping services to the allegations in Plan to market or sell products or services unrelated to the lawsuit. The entire Settlement Agreement Plan to Plan participants unless a request for such products or services is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].initiated by a Plan participant; (5) within thirty

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionaddition to the monetary component of the Settlement, as discussed above, the Settlement also provides certain additional terms that prospectively as provide substantial value to Class Members and materially add to the total value of the Settlement Effective Dateabove the already significant monetary component. These additional terms include: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review within thirty (30) calendar days after the end of the first and second years of the Settlement Period, and within thirty (30) calendar days after the conclusion of the Settlement Period, the Vanderbilt Defendants will provide Class Counsel a list of the Plan's investment options and the fees for those investment options, as well as a copy of the Investment Policy Statement for the Plan; (2) no later than January 31, 2020, Vanderbilt University will communicate by email with currently employed Plan participants identifying current investment options in the Plan, providing a link to a disclosure of the fees and review performance of the frozen annuity accounts and approve any communications to participants regarding the Plans’ current investment options; (2) , and providing contact information for a period of no less than three years, all expense reimbursements by the Plans to McKinsey, MIO, or any other affiliated person individual or entity will that can facilitate a fund transfer; the form of this communication shall be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsClass Counsel; and (3) on or before April 1, 2022, the expiration of the current recordkeeping agreement for the Plans, McKinsey will issue Plan's fiduciaries shall conduct a request for proposal proposals (RFP) for recordkeeping and administrative services for the Plan. All Class Members and anyone claiming through them will fully release Plan to at least three qualified service providers; the Plans as well as Defendants and RFP shall request that any proposal for basic recordkeeping services express fees on a per-participant basis; (4) after conducting the Released Parties from Released Claims. The governing release terms are found within the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. GenerallyRFP, the release means that Class Members will not have Plan fiduciaries may decide to retain the right to sue current recordkeeper or retain a new recordkeeper; the Plans, Defendants, or related parties for conduct during Plan's fiduciaries shall contractually prohibit the Class Period arising out recordkeeper from using information about Plan participants acquired in the course of or relating providing recordkeeping services to the allegations in Plan to market or sell products or services unrelated to the lawsuit. The entire Settlement Agreement Plan to Plan participants unless a request for such products or services is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].initiated by a Plan participant; (5) within thirty

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionaddition to the monetary component of the Settlement, as discussed above, the Settlement provides 1) the Plan fiduciaries will engage a consulting firm to conduct a Request for Proposal for investment consulting firms that prospectively as are unaffiliated with BB&T and engage an Investment Consultant to independent consulting services to the Plan; 2) the Investment Consultant will evaluate the Plan’s investment options and provide the Plan fiduciaries an evaluation of the Settlement Effective Date: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review of the investment options in the Plan; 3) within two years after the entering of the Final Order, and review and approve Plan fiduciaries will participate in a training session regarding ERISA’s fiduciary duties; 4) during the two year period following entry of the Final Order. BB&T will rebate to the Plan participants any communications to participants regarding the Plans’ investment options; (2) for a period of no less than three years12b-1 fees, all expense reimbursements by the Plans to McKinsey, MIOsub-ta fees, or other monetary compensation that any other affiliated person mutual fund company pays or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion extends to approve or reject reimbursementsthe Plan’s recordkeeper based on the Plan’s investments; and (35) before if during a two-year time period following the expiration entry of the current Final Order, BB&T were to decide to charge Plan participants a periodic fee for recordkeeping agreement for services, the Plans, McKinsey Plan fiduciaries will issue conduct a request for proposal for the provision of recordkeeping services for the Planand administrative services. All Class Members and anyone claiming through them will fully release the Plans Plan as well as BB&T Defendants and the its “Released Parties” from “Released Claims.” The Released Parties from Released Claims. The governing release terms are found within include (a) BB&T Corporation, Branch Banking and Trust Company, Sterling Capital Management LLC, BB&T Corporation Employee Benefits Plan Committee, BB&T Corporation Board of Directors, Compensation Committee of the Settlement AgreementBoard of Directors of BB&T Corporation, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. GenerallyCardinal Investment Advisors, the release means that Class Members will not have the right to sue the PlansLLC, Defendants, or related parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]Xxxx X. Xxxxxxx, XX, Xxxxxxxx X. Banner, K. Xxxxx Xxxxx, Jr., Xxxx X. Xxxxxx, Xxxxx X. Xxxxxxx, Xxxxxx X. Deal, Xxx X. Xxxxx, Xxxxx X. Xxxxxxxx, Xxxxx X. Xxxxxxxxxxx, X. Xxxxxxxxx Xxxxxx, Jr., L. Xxxxxxx Xxxxxxx, Xxxx X. Xxxx, I. Xxxxxxxx Xxxxx, Xxxx X. Xxxx, III, Xxxx X. Xxxxxxxx, Xxxxx X. Xxxx, Xxxxxxx Xxxxx Xxx, Xxxxx X. Xxxx, Xxxxx X. Xxxxxxx, Xxxxxx X. XxXxxxxx, Xxxxxx X. Xxxxxxxx, X. Xxxxxx Xxxxxxxx, Xxxxxxx X. Xxxxxx, Nido X. Xxxxxx, Xxxxxxx X. Xxxxxx, Xxxxxx X. Xxxx, Xx., X. Xxxxx Xxxxxx, Xxxxxxxxx Sears, Xxxxxx X. Xxxxxx, Xxxxxx X. Xxxxxxxx, Xxxxx X. Xxxxx, Xxxxxxx X. Xxxxxxxx, Xxxxxx X. Xxxxxx, Xxxx Xxxxxx, Xxx Xxxxxxxx, Xxxxxx Xxxxxxxx-Xxxxx, Xxxxx Xxxxx, Xxxx Xxxx, Xxxxx Xxxx, Xxxxx Xxxxxxx, Xxxxx Xxxxxxx; (b) their insurers, co-insurers, and reinsurers, (c) their past, present, and future parent corporation(s),

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized . Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionAs discussed above, the Settlement Agreement also provides that prospectively as of for non-monetary benefits to the Plans. Defendants have agreed, during the three-year Settlement Effective DatePeriod: (1) for a period to publicly file with the Court the annual Department of no less than three years, Defendants shall retain an independent investment consultant Labor filing that discloses fees paid by the Plans (known as Schedule C to provide ongoing review of Form 5500) as well as information about the investment options in the Planassets held in, and review performance of, the Stable Value Fund and approve any communications to participants regarding the Plans’ investment optionsCompany Stock Funds; (2) for to confirm current limitations on the amount of cash equivalents held in the Company Stock Funds and the amount of money market equivalent assets held in the Stable Value Fund, and to file a period of no less than three years, all expense reimbursements by notice with the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsCourt if those limitations are changed; and (3) before to initiate a competitive bidding process for the expiration of the current Plans’ recordkeeping agreement services for the Plans, McKinsey and to publicly file with the Court a notice identifying the entities that submitted bids and the selected recordkeeper; and (4) to offer participants the share class of investments that has the lowest expense ratio, provided that the share class is available and consistent with the needs and obligations of the Plans. The terms of the Settlement will issue a request for proposal for recordkeeping services for the Planbe reviewed by an Independent Fiduciary. All Class Members and anyone claiming through them will fully release the Plans as well as Defendants and their “Released Parties” from “Released Claims.” The Released Parties include Defendants and any past, present, and future related entities, and all of their past, present, and future officers, directors, employees, attorneys, and agents. The Released Claims include all claims that were asserted or that could have been asserted in the Class Action, including all claims made in the Class Action or that relate to the allegations raised in the Class Action; all claims related to the Plans’ investment options, fees, disclosures, and expenses, and conduct by the Plan Fiduciary; and all claims relating to the implementation of the Settlement. This is only a summary of the Released Parties from Claims and not a binding description of the Released Claims. The actual governing release terms are is found within the Settlement Agreement, which is available Agreement at [xxx.xxxxxxxxxxxxxxxxx.xxx]xxx.xx000xxxxxxxxxxx.xxx. Generally, the release means that Class Members will not have the right to sue the Defendants, the Plans, Defendants, or related parties the Related Parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuitClass Action. This is only a summary of the Settlement. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]xxx.xx000xxxxxxxxxxx.xxx.

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Settlement Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Allocations to Current Participants will be made into the existing Plan accounts of Settlement Class Members who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansAllocation. Authorized Former Participants Settlement Class Members who are entitled to a distribution may but who, as of May 31, 2013 or the date of the Settlement distribution, no longer have any Plan account or have reduced their Plan account balance(s) to $0, or the beneficiaries or alternate payees of such persons, will receive their distribution as a check or, if available and they elect, mailed to their last known address or as a rollover to a qualified retirement account. As part of the settlement, Cigna has agreed to certain changes and additions to its processes for obtaining investment products and services for the Plan. Specifically, during the settlement’s three-year compliance period, Cigna will continue to comply with recently implemented Department of Labor Regulations that will increase and enhance communication with Plan participants and beneficiaries about 401(k) investment options and associated fees. In addition, the Settlement provides during that prospectively period, Cigna will continue its practice of not including retail-class mutual funds as of the Settlement Effective Date: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review of the core investment options in the Plan, . Cigna will also undertake a competitive bidding process for Plan recordkeeping and review administrative services and approve any communications to participants regarding the Plans’ investment options; (2) for a period of no less than three years, all expense reimbursements by the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by retain an independent fiduciary, who shall have final discretion consultant to approve or reject reimbursements; and (3) before review the expiration of alternatives available in the current recordkeeping agreement market for the Plans, McKinsey will issue a request for proposal for recordkeeping services for servicing the Plan’s Fixed Income Fund. All Settlement Class Members and Members, anyone claiming through them them, and the Plan itself will fully release the Plans as well as Defendants and the their “Released Parties Parties” from “Released Claims.” The released parties include Defendants and any related entities, and all of their past and current parent companies, predecessors, affiliates, subsidiaries, officers, directors, employees, attorneys, and agents. The governing release terms are found within the Settlement Agreement, Released Claims include all claims which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generally, the release means that Class Members will not were or could have the right to sue the Plans, Defendants, or related parties for conduct during been asserted in the Class Period arising out of Action, including all claims made in the Class Action or relating that relate to the allegations raised in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].Class Action; all claims related to: (1) the selection, oversight, or performance of the Plan’s investment options (excluding the Cigna Stock Fund) and service providers;

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionaddition to the monetary component of the Settlement, as discussed above, the Settlement provides 1) the Plan fiduciaries will engage a consulting firm to conduct a Request for Proposal for investment consulting firms that prospectively as are unaffiliated with BB&T and engage an Investment Consultant to independent consulting services to the Plan; 2) the Investment Consultant will evaluate the Plan's investment options and provide the Plan fiduciaries an evaluation of the Settlement Effective Date: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review of the investment options in the Plan; 3) within two years after the entering of the Final Order, and review and approve Plan fiduciaries will participate in a training session regarding XXXXX's fiduciary duties; 4) during the two year period following entry of the Final Order. BB&T will rebate to the Plan participants any communications to participants regarding the Plans’ investment options; (2) for a period of no less than three years12b-1 fees, all expense reimbursements by the Plans to McKinsey, MIOsub-ta fees, or other monetary compensation that any other affiliated person mutual fund company pays or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion extends to approve or reject reimbursementsthe Plan's recordkeeper based on the Plan's investments; and (35) before if during a two-year time period following the expiration entry of the current Final Order, BB&T were to decide to charge Plan participants a periodic fee for recordkeeping agreement for services, the Plans, McKinsey Plan fiduciaries will issue conduct a request for proposal for the provision of recordkeeping services for the Planand administrative services. All Class Members and anyone claiming through them will fully release the Plans Plan as well as BB&T Defendants and the its “Released Parties” from “Released Claims.” The Released Parties from Released Claims. The governing release terms are found within include (a) BB&T Corporation, Branch Banking and Trust Company, Sterling Capital Management LLC, BB&T Corporation Employee Benefits Plan Committee, BB&T Corporation Board of Directors, Compensation Committee of the Settlement AgreementBoard of Directors of BB&T Corporation, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. GenerallyCardinal Investment Advisors, the release means that Class Members will not have the right to sue the PlansLLC, Defendants, or related parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]Xxxx X. Xxxxxxx, XX, Xxxxxxxx X. Xxxxxx, K. Xxxxx Xxxxx, Jr., Xxxx X. Xxxxxx, Xxxxx X. Xxxxxxx, Xxxxxx X. Xxxx, Xxx X. Xxxxx, Xxxxx X. Xxxxxxxx, Xxxxx X. Xxxxxxxxxxx, X. Xxxxxxxxx Xxxxxx, Jr., X. Xxxxxxx Xxxxxxx, Xxxx X. Xxxx, I. Xxxxxxxx Xxxxx, Xxxx X. Xxxx, III, Xxxx X. Xxxxxxxx, Xxxxx X. Xxxx, Xxxxxxx Xxxxx Xxx, Xxxxx X. Xxxx, Xxxxx X. Xxxxxxx, Xxxxxx X. XxXxxxxx, Xxxxxx X. Xxxxxxxx, X. Xxxxxx Xxxxxxxx, Xxxxxxx X. Xxxxxx, Xxxx X. Qubein, Xxxxxxx X. Xxxxxx, Xxxxxx X. Xxxx, Xx., X. Xxxxx Xxxxxx, Xxxxxxxxx Xxxxx, Xxxxxx X. Xxxxxx, Xxxxxx X. Xxxxxxxx, Xxxxx X. Xxxxx, Xxxxxxx X. Xxxxxxxx, Xxxxxx X. Xxxxxx, Xxxx Xxxxxx, Xxx Xxxxxxxx, Xxxxxx Xxxxxxxx-Xxxxx, Xxxxx Xxxxx, Xxxx Xxxx, Xxxxx Xxxx, Xxxxx Xxxxxxx, Xxxxx Xxxxxxx; (b) their insurers, co-insurers, and xxxxxxxxxx, (c) their past, present, and future parent corporation(s),

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized . Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionAs discussed above, the Settlement Agreement also provides that prospectively as of for non-monetary benefits to the Plans. Defendants have agreed, during the three-year Settlement Effective DatePeriod: (1) for a period to publicly file with the Court the annual Department of no less than three years, Defendants shall retain an independent investment consultant Labor filing that discloses fees paid by the Plans (known as Schedule C to provide ongoing review of Form 5500) as well as information about the investment options in the Planassets held in, and review performance of, the Stable Value Fund and approve any communications to participants regarding the Plans’ investment optionsCompany Stock Funds; (2) for to confirm current limitations on the amount of cash equivalents held in the Company Stock Funds and the amount of money market equivalent assets held in the Stable Value Fund, and to file a period of no less than three years, all expense reimbursements by notice with the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsCourt if those limitations are changed; and (3) before to initiate a competitive bidding process for the expiration of the current Plans’ recordkeeping agreement services for the Plans, McKinsey and to publicly file with the Court a notice identifying the entities that submitted bids and the selected recordkeeper; and (4) to offer participants the share class of investments that has the lowest expense ratio, provided that the share class is available and consistent with the needs and obligations of the Plans. The terms of the Settlement will issue a request for proposal for recordkeeping services for the Planbe reviewed by an Independent Fiduciary. All Class Members and anyone claiming through them will fully release the Plans as well as Defendants and their “Released Parties” from “Released Claims.” The Released Parties include Defendants and any past, present, and future related entities, and all of their past, present, and future officers, directors, employees, attorneys, and agents. The Released Claims include all claims that were asserted or that could have been asserted in the Class Action, including all claims made in the Class Action or that relate to the allegations raised in the Class Action; all claims related to the Plans’ investment options, fees, disclosures, and expenses, and conduct by the Plan Fiduciary; and all claims relating to the implementation of the Settlement. This is only a summary of the Released Parties from Claims and not a binding description of the Released Claims. The actual governing release terms are is found within the Settlement Agreement, which is available Agreement at [xxx.xxxxxxxxxxxxxxxxx.xxx]xxx.xx000xxxxxxxxxxx.xxx. Generally, the release means that Class Members will not have the right to sue xxx the Defendants, the Plans, Defendants, or related parties the Related Parties for conduct during the Class Period arising out of or relating to the allegations in the lawsuitClass Action. This is only a summary of the Settlement. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]xxx.xx000xxxxxxxxxxx.xxx.

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Settlement Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Allocations to Current Participants will be made into the existing Plan accounts of Settlement Class Members who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansAllocation. Authorized Former Participants Settlement Class Members who are entitled to a distribution may but who, as of May 31, 2013 or the date of the Settlement distribution, no longer have any Plan account or have reduced their Plan account balance(s) to $0, or the beneficiaries or alternate payees of such persons, will receive their distribution as a check or, if available and they elect, mailed to their last known address or as a rollover to a qualified retirement account. As part of the settlement, Cigna has agreed to certain changes and additions to its processes for obtaining investment products and services for the Plan. Specifically, during the settlement’s two-year compliance period, Cigna will continue to comply with recently implemented Department of Labor Regulations that will increase and enhance communication with Plan participants and beneficiaries about 401(k) investment options and associated fees. In addition, the Settlement provides during that prospectively period, Cigna will continue its practice of not including retail-class mutual funds as of the Settlement Effective Date: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review of the core investment options in the Plan, . Cigna will also undertake a competitive bidding process for Plan recordkeeping and review administrative services and approve any communications to participants regarding the Plans’ investment options; (2) for a period of no less than three years, all expense reimbursements by the Plans to McKinsey, MIO, or any other affiliated person or entity will be reviewed and approved by retain an independent fiduciary, who shall have final discretion consultant to approve or reject reimbursements; and (3) before review the expiration of alternatives available in the current recordkeeping agreement market for the Plans, McKinsey will issue a request for proposal for recordkeeping services for servicing the Plan’s Fixed Income Fund. All Settlement Class Members and Members, anyone claiming through them them, and the Plan itself will fully release the Plans as well as Defendants and the their “Released Parties Parties” from “Released Claims.” The released parties include Defendants and any related entities, and all of their past and current parent companies, predecessors, affiliates, subsidiaries, officers, directors, employees, attorneys, and agents. The governing release terms are found within the Settlement Agreement, Released Claims include all claims which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. Generally, the release means that Class Members will not were or could have the right to sue the Plans, Defendants, or related parties for conduct during been asserted in the Class Period arising out of Action, including all claims made in the Class Action or relating that relate to the allegations raised in the lawsuit. The entire Settlement Agreement is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].Class Action; all claims related to: (1) the selection, oversight, or performance of the Plan’s investment options (excluding the Cigna Stock Fund) and service providers;

WHAT DOES THE SETTLEMENT PROVIDE. Under the Settlement, McKinsey or its insurers will pay $39,500,000 into a Qualified Settlement Fund to resolve the claims of the Class. The Net Settlement Amount (after deduction of any Court- approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Compensation) will be allocated to Class Members according to a Plan of Allocation to be approved by the Court (as explained further at Question 5 below)Court. Class Members fall into two categories: Current Participants and Former Participants. Allocations to Current Participants who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the PlansPlan accounts. Authorized Former Participants who are entitled to a distribution may will receive their distribution as a check mailed to their last known address or, if available and they elect, as a rollover to a qualified retirement account. In additionaddition to the monetary component of the Settlement, as discussed above, the Settlement also provides certain additional terms that prospectively as provide substantial value to Class Members and materially add to the total value of the Settlement Effective Dateabove the already significant monetary component. These additional terms include: (1) for a period of no less than three years, Defendants shall retain an independent investment consultant to provide ongoing review within thirty (30) calendar days after the end of the first and second years of the Settlement Period, and within thirty (30) calendar days after the conclusion of the Settlement Period, the Vanderbilt Defendants will provide Class Counsel a list of the Plan’s investment options and the fees for those investment options, as well as a copy of the Investment Policy Statement for the Plan; (2) no later than January 31, 2020, Vanderbilt University will communicate by email with currently employed Plan participants identifying current investment options in the Plan, providing a link to a disclosure of the fees and review performance of the frozen annuity accounts and approve any communications to participants regarding the Plans’ current investment options; (2) , and providing contact information for a period of no less than three years, all expense reimbursements by the Plans to McKinsey, MIO, or any other affiliated person individual or entity will that can facilitate a fund transfer; the form of this communication shall be reviewed and approved by an independent fiduciary, who shall have final discretion to approve or reject reimbursementsClass Counsel; and (3) on or before April 1, 2022, the expiration of the current recordkeeping agreement for the Plans, McKinsey will issue Plan’s fiduciaries shall conduct a request for proposal proposals (“RFP”) for recordkeeping and administrative services for the Plan. All Class Members and anyone claiming through them will fully release Plan to at least three qualified service providers; the Plans as well as Defendants and RFP shall request that any proposal for basic recordkeeping services express fees on a per-participant basis; (4) after conducting the Released Parties from Released Claims. The governing release terms are found within the Settlement Agreement, which is available at [xxx.xxxxxxxxxxxxxxxxx.xxx]. GenerallyRFP, the release means that Class Members will not have Plan fiduciaries may decide to retain the right to sue current recordkeeper or retain a new recordkeeper; the Plans, Defendants, or related parties for conduct during Plan’s fiduciaries shall contractually prohibit the Class Period arising out recordkeeper from using information about Plan participants acquired in the course of or relating providing recordkeeping services to the allegations in Plan to market or sell products or services unrelated to the lawsuit. The entire Settlement Agreement Plan to Plan participants unless a request for such products or services is available at [xxx.xxxxxxxxxxxxxxxxx.xxx].initiated by a Plan participant; (5) within thirty