10/11/2022 - Laserfiche WebLink

Home Browse Search

the extent there are insufficient assets in the Plan Expense Account to cover applicable expenses, LRSC will submit a bill to the Plan for the amount owed by the Plan which shall be due within thirty (30) days after the invoice is received. Employer may pay the invoice or instruct LRSC to deduct charges pro rata from participant accounts calculated as a per head or asset-based fee. b. Funding of Plan Expense Account. Employer instructs LRSC to instruct LFGTC to fund the Plan Expense Account as set forth in Exhibit C. c. Payments from Plan Expense Account. Employer instructs LRSC to instruct LFGTC to pay the Plan expenses set forth in Exhibit C. The Parties hereto acknowledge and agree that LRSC will utilize the resources of Lincoln affiliates in order to calculate the fees payable pursuant to this Service Agreement. 2.4 Fee Commitment. Fees described in this Service Agreement will remain unchanged for the fee commitment period described in Exhibit C ("Fee Commitment Period"), unless (a) there are changes in the Program such that significant numbers of participants or amounts of balances are different or changed from the current structure, including the failure of participants to rollover or map into the Program as projected, (b) changes in the law cause significant changes to the Plan or the ability of LRSC to provide Recordkeeping Services, (c) the Plan is significantly changed by the Employer, including, but not limited to, any change in the Investments listed in Exhibit A, or (d) other changes to the Plan that may affect the pricing of the Plan. In the event any of these changes occur, LRSC may provide notice that the fee commitment provided herein has been revoked and may update the fee by amending Exhibit C as set forth in Section 4.13. Plan agrees to pay any actual incremental expenses that Lincoln incurs on behalf of the Plan or the Employer. 2.5 Transaction Fees. Employer directs LRSC to assess applicable fees set forth in Exhibit C. ARTICLE 3 LIMITATION OF LIABILITY 3.1 In addition to any other remedies at law or in equity available to LRSC for breach of this Service Agreement by Employer, Employer will, except to the extent prohibited by applicable law, indemnify Lincoln, its officers, employees and agents from and against any and all damages, losses, costs, judgments, fines and expenses (including attorneys' fees and disbursements) of any kind or nature (hereinafter in the aggregate the "Losses") imposed on or incurred by Lincoln, its officers, employees and agents by reason of its or their participation in this Service Agreement, including any Losses arising out of any threatened, pending, or completed claim, action, suit, or proceeding, whether civil, criminal, administrative, or investigative, to the extent such Losses are the result of Employer or Plan's intentional wrongdoing or its negligent actions or omissions. As a condition of indemnification, (i) LRSC shall give Employer timely notice in writing of any potential Losses promptly after LRSC becomes aware of them; (ii) Employer shall at its option have sole control of the defense of such Losses; and (iii) LRSC shall cooperate with Employer in the defense of such Losses. Employer shall not be responsible for the Indian River County BOCC 457(b) INDR-001 1423269 Page 11 of 20 99