ENTG » Topics » MODEL LETTER OF DIRECTION

This excerpt taken from the ENTG 10-K filed Mar 3, 2008.

MODEL LETTER OF DIRECTION

(Used to provide direction pursuant to Section (d) of the Performance Payments section of Schedule “B”)

[Date]

Fidelity Investments Institutional Operations Company, Inc.

Attn: Brian Moss

100 Magellan Way

Mail Zone KE1H

Convington, KY 41015

 

Re: Entegris, Inc. 401(k) Savings and Profit Sharing Plan

Dear Mr. Moss:

This letter is sent to you in accordance with the “Performance Payments” provision of the trust, recordkeeping and/ or service agreement currently in effect.

Please apply [INSERT AMOUNT} from the Performance Account in the Plan to outstanding due and payable Fidelity fees.

OR

Please provide the Sponsor reimbursement in the amount of [INSERT AMOUNT] from the Performance Account held in the Plan for expenses paid on behalf of the Plan. By signing below, the Sponsor represents in its capacity as or on behalf of the Named Fiduciary that (1) such expenses are reasonable, necessary and direct expenses of such Plan within the meaning of ERISA, (2) the Plan authorizes the payment of such expenses from the Plan, and (3) that the Sponsor has paid these expenses on behalf of the Plan.

 

Sponsor/ Named Fiduciary
By:  

 

Title:  
Date:  

 

Fidelity Confidential


SCHEDULE “B-2 b” – Performance Standards

The following performance standards shall apply to the Plan.

Two or more performance measures must be missed in any given quarter in order for any fee reductions to apply.

Performance payment obligations hereunder shall not commence until the qtr-end following six months after the effective date included herein.

The total amount of any fee offsets with respect to failures to meet performance standards during a calendar year shall not exceed $12,000 in aggregate.

 

Measure

  

Description

  

Performance reporting standard

  

Maximum Fee Offset

Customer Support Services Level    85% of calls will be answered within twenty (20) seconds    Quarterly by segment    $250 Quarterly, $1,000 Annually
VRS Channel Availability    Available 99% of the time exclusive of reserved maintenance window and scheduled application date activities    Quarterly by segment    $250 Quarterly, $1,000 Annually
Fidelity NetBenefits® Channel Availability    Available 99% of the time exclusive of reserved maintenance window and scheduled application update activities    Quarterly by segment    $250 Quarterly, $1,000 Annually
Fidelity Plan Sponsor WebStation® Channel Availability    Available 99% of the time exclusive of reserved maintenance window and scheduled application update activities    Quarterly by segment    $250 Quarterly, $1,000 Annually
Participant Research Items Resolved Within 5 Business Days (excluding check copies, QDROs, and death benefits)    95% work items resolved within five (5) business days after receipt of necessary information from client or third parties.    Quarterly by client    $250 Quarterly, $1,000 Annually
Participant Research Items Resolved Within 10 Business Days (excluding check copies, QDROs, and death benefits)    99% work items resolved within ten (10) business days after receipt of necessary information from client or third parties.    Quarterly by client    $250 Quarterly, $1,000 Annually
Participant Quarterly Statements Available On Line    Available 99% of the time exclusive of reserved maintenance window and scheduled application update activities.    Quarterly by client    $250 Quarterly, $1,000 Annually

 

Fidelity Confidential


Measure

  

Description

  

Performance reporting standard

  

Maximum Fee Offset

Participant Annual Statements Hardcopy    95% of statements mailed by the 20th calendar day of the month following the reporting period    Annually by client    $1,000 Annually
Service/Investment Review Conducted on Agreed Upon Schedule   

Negotiable date schedule

Goal = Neg (rpt out only if we don’t meet standard)

   Quarterly by client    $1,000 Annually
Relationship Plan Updated Annually   

Negotiable date schedule

Goal = Neg (rpt out only if we don’t meet standard)

   Annually by client    $1,000 Annually
Communication Plan Updated Annually   

Negotiable date schedule

Goal = Neg (rpt out only if we don’t meet standard)

   Annually by client    $1,000 Annually
Standard Monthly Reporting Package   

Available on-line 24 hours after reconciliation

Goal = Y/N

   Quarterly by client    $250 Quarterly, $1,000 Annually

 

Fidelity Confidential


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