WakeMed, through its insurer, has agreed to pay $975,000 into a Settlement Fund, which includes amounts for expenses associated with administering the Settlement, taxes, tax expenses, as well as, to the extent required and approved by the Court, attorneys’ fees, expenses, and a service award to Plaintiffs. The amount of each Settlement Class Member’s payment is based on the size of his or her monthly average of end-of-quarter Plan account balances during the Settlement Class Period. As part of the Settlement, WakeMed also agreed to take certain actions in the future with respect to how it will evaluate service providers for the Plan. Specifically, within eighteen (18) months of the Settlement Agreement Execution Date, WakeMed will conduct a request for proposals (“RFP”) for investment advisory services for the Plan. WakeMed has further agreed to initiate RFPs for recordkeeping and administrative services for the Plan on two occasions, the first within thirty-six (36) months of the Settlement Effective Date, and the second within seventy-two (72) months of the Settlement Effective Date. WakeMed will issue these RFPs to at least three qualified service providers. After each RFP, WakeMed may decide to retain the Plan’s current provider of investment advisory, recordkeeping, and administrative services, or may choose to select a different provider. If you are a Settlement Class Member and you are a Current Participant, your payment will be deposited into your Plan account and invested initially in the Plan’s qualified default investment alternative. If you choose to do so, you may then change your investment elections in the same way that you may for the other amounts held in your Plan account. If you are a beneficiary entitled to receive payments on behalf of a Settlement Class Member (a “Beneficiary”), you will receive your payment under the Settlement directly in the form of a check. If you are an alternate payee entitled to receive payments on behalf of a Settlement Class Member pursuant to a Qualified Domestic Relations Order (an “Alternate Payee”), you will receive your payment of the Settlement (pursuant to the terms of your Qualified Domestic Relations Order) directly in the form of a check. If you are an Authorized Former Participant who has filed a Former Participant Claim Form, a Settlement Class Member and you previously participated in the Plan but no longer do so (or you are a Beneficiary or an Alternate Payee of such a Settlement Class Member), then you will receive any payment under the Settlement directly in the form of a check.