DTE Energy 2013 Annual Report Download - page 221

b. The Customer shall not be liable for any Net Fund Loss
Amount in the absence of J.P. Morgan’s negligence. J.P. Morgan
shall not be liable for (i) values provided to J.P. Morgan by any
pricing service or vendor, (ii) values stated by the trustee of any
group trust (other than a group trust of which J.P. Morgan is the
trustee), (iii) the net asset value or other unit or share value as
announced by any limited partnership, limited liability company,
investment company, or other fund or its operator, (iv) any
redemption fees, surrender charges or similar fees or charges
imposed on any investment held by the Fund; or (v) the value of
any securities or other property held in any Investment Alternative
provided by the investment manager of such Investment
Alternative
Correction procedures for Non-Unitized Master Trust
Accounts (Defined Benefit and Non-Participant-Directed
Defined Contribution Plan Accounts)
a. In the event of an NAV Error, J.P. Morgan shall calculate the
basis point impact of the NAV Error and the Net Fund Benefit or Net
Fund Loss Amount for each affected period.
b. If the Basis Point impact of the NAV Error exceeds 50 bps, J.P.
Morgan will process appropriate adjustments to each Plan
participating in the Fund, if applicable.
c. All corrections shall be made by adjusting each participating
Plan’s respective interests.
d. Any Net Fund Loss Amount remaining following the foregoing
steps in this Section 4 shall be funded by J.P. Morgan , only to the
extent that such Net Fund Loss Amount is attributable to J.P.
Morgan’s negligence.
Correction Procedures for Unitized Accounts (Participant-
Directed Defined Contribution Plan Accounts)
a. In the event of an NAV Error, J.P. Morgan shall calculate the
Basis Point impact of the NAV Error and, if the Basis Point Impact
of the NAV Error exceeds 10 bps, the Net Fund Loss Amount or Net
Fund Benefit Amount.
b. If the Basis Point of the NAV Error impact does not exceed 10
bps of the Fund’s NAV, no action need be taken
c. Subject to subsection 5(e) of this Schedule, if the Basis Point
impact is 10 bps or more but does not exceed 50 bps of the Fund’s
NAV, J.P. Morgan shall reimburse the Fund for the Net Fund Loss
Amount to the extent that the NAV Error is attributable to J.P.
Morgan’s negligence. The Customer shall be responsible for
obtaining reimbursement of the Net Fund Loss Amount to the
extent attributable to any other Person (e.g., the adviser,
administrator or record keeper) responsible for the NAV Error to the
extent required of such party pursuant to its contractual
arrangement with the Customer. If the Fund experienced a Net
Fund Benefit Amount, no action need be taken; however, the Net
Fund Benefit Amount will not be carried forward to any analysis
performed in the future for other NAV Errors that may arise.
d. If the Basis Point impact exceeds 50 basis points (0.50%), the
Customer shall cause the Plan’s Recordkeeper to reprocess
participant purchases and redemptions in the affected Fund to the
extent set forth in Subsection 5(f) of this Schedule and take the
steps specified in Subsection 5(f) of this Schedule to recoup any
excess redemption payments in order to reduce the aggregate
amounts of the Net Fund Losses and Net Fund Benefits arising out
of the NAV Error. J.P. Morgan shall then reimburse the Fund for the