You are in violation of the excessive trade policy if you reach:

• 6 trade events within one calendar quarter
• 11 trade events within two consecutive quarters within a calendar year, or
• 20 trade events during a calendar year

(A trade event is defined as any trade or combination of trades occurring on a given valuation date. This includes fund exchanges that you initiate, as well as exchanges performed as part of Automatic Asset Rebalancing.)

Following the first violation of the policy, you will receive a warning letter. If two violations occur, your account will be restricted, and you will not be able to perform any more trades online. (A single trade can cause multiple violations of the policy and move your account into a restricted status immediately.)

Once your account is restricted, you may only request trades by using U.S. mail to contact an appropriate plan representative or your plan's third-party administrator. The requirement to trade via U.S. mail may be lifted on the first business day of January in the next calendar year (upon plan direction).

This policy is subject to change and the number of allowable trades and/or the trading frequency may change in order to address harmful trading practices. Fund houses may also apply additional restrictions on the number of allowable trades and/or trading frequency in accordance with their prospectus.

If you have questions regarding this policy, please call 1-800-545-4730.