Common use of Telephone Service Quality Clause in Contracts

Telephone Service Quality. Performance Standard ----------------------------------------------------------------------------------------------------------------------- PFPC telephone quality must be rated by NQR to fall within 2.12 to 2.48 for each quarter. ----------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- Measurement Unacceptable - Penalty Standard Performance Exceptional - Award ---------------------- -------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------- Call Quality as Rated by Rating by NQR below 2.12 Rating by NQR of 2.12 to 2.48 Rating by NQR above 2.48 NQR ----------------------------------------------------------------------------------------------------------------------- Call Answer Rate as * 97% 97% - 98% ** 98% Measured by PFPC Call Monitoring System ----------------------------------------------------------------------------------------------------------------------- Average Speed of Answer ** 30 seconds 30 - 20 seconds * 20 seconds as Measured by PFPC Call Monitoring System ----------------------------------------------------------------------------------------------------------------------- . Performance will be measured on a monthly basis. Call Quality will be reviewed by NQR, which shall review approximately 40 Calls per month and evaluate them based on its 27-point evaluation process. Call Answer Rates are based on the percentage of all calls during the period that they are answered by PFPC and not abandoned. The Average Speed of Answer will be for all calls answered during the measurement period. Reports will be reported monthly with penalties or awards paid quarterly based on quarterly averages. . Penalties or Awards will be applied quarterly to the next transfer agent fee xxxx following receipt of the data from NQR. . Penalties will be waived for any quarter whereby the overall call volume is increased by 30 percent or greater over the prior four-quarter average volumes. . Awards will be waived for any quarter whereby the overall call volume is decreased by 30 percent or move versus the prior four-quarter average volumes. . Standards are subject to revision annually each June based on the previous four quarters of performance data from NQR. . Measurement will begin 9/18/00. However, penalties and awards will not begin until first quarter 2001. . Each of the three telephone categories will be measured separately and will count equally toward the determination of penalties or awards. * denotes less than ** denotes greater than

Telephone Service Quality. Performance Standard ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ PFPC telephone quality must be rated by NQR to fall within 2.12 to 2.48 for each quarter. ----------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ Measurement Unacceptable - Penalty Standard Performance Exceptional - Award ---------------------- -------------------- ------------------- ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Call Quality as Rated by NQR Rating by NQR below 2.12 Rating by NQR of 2.12 to 2.48 Rating by NQR above 2.48 NQR ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Call Answer Rate as Measured by * 97% 97% - 98% ** 98% Measured by PFPC Call Monitoring System ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Average Speed of Answer as ** 30 seconds 30 - 20 seconds ** 20 seconds as Measured by PFPC Call Monitoring System ----------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ * denotes the less than sign **denotes the more than sign . Performance will be measured on a monthly basis. Call Quality will be reviewed by NQR, which shall review approximately 40 Calls per month and evaluate them based on its 27-point evaluation process. Call Answer Rates are based on the percentage of all calls during the period that they are answered by PFPC and not abandoned. The Average Speed of Answer will be for all calls answered during the measurement period. Reports will be reported monthly with penalties or awards paid quarterly based on quarterly averages. . Penalties or Awards will be applied quarterly to the next transfer agent fee xxxx following receipt of the data from NQR. . Penalties will be waived for any quarter whereby the overall call volume is increased by 30 percent or greater over the prior four-quarter average volumes. . Awards will be waived for any quarter whereby the overall call volume is decreased by 30 percent or move versus the prior four-quarter average volumes. . Standards are subject to revision annually each June based on the previous four quarters of performance data from NQR. . Measurement will begin 9/18/00. However, penalties and awards will not begin until first quarter 2001. . Each of the three telephone categories will be measured separately and will count equally toward the determination of penalties or awards. * denotes less than ** denotes greater than.