The vested value of your 401(k) Savings Plan account is payable if any of the following events occur:

As long as you have an account balance in the plan, you may access the 401(k) Savings Plan Web Center or Call Center to obtain rates of return, account balance information, and reallocate or transfer your vested account balance among the investment funds, subject to plan provisions. If you maintain an account balance in the plan after your employment terminates, your account balance will reflect the investment experience of the fund(s) in which you choose to invest.

This section describes the different ways your account can be paid to you under the 401(k) Savings Plan. In certain cases, spousal consent may be required. You will be notified if this applies to you.

When your employment with JPMorgan Chase ends and you request a distribution, you'll receive the full value of your contributions (adjusted for investment experience), as well as the vested value of JPMorgan Chase company contributions (adjusted for investment experience).

If the vested value of your account (including loans) is $1,000 or less, your account balance will be distributed to you in a single lump sum payment approximately 90 days after the end of the month following the date of your termination.

Prior to that automatic payment date, you can elect to have your vested account balance made payable to an Individual Retirement Account (traditional or Roth) or to another employer's qualified plan.

You can elect to receive all or a portion of any amounts invested in the JPMorgan Chase Common Stock Fund in the form of JPMorgan Chase common stock. Please see "Stock Distribution from the JPMorgan Chase Common Stock Fund" in the section "Receiving Account Payments After You Retire or Terminate from JPMorgan Chase" for more information.

If you do not make an election within 90 days after the end of the month in which your employment ended, your vested account balance will be paid to you in a lump sum with 20% federal income tax withheld. State income taxes may also be withheld, if applicable. The 10% early distribution penalty tax may also apply.

Please see "Tax Consequences" for important information on the associated tax consequences of your election.

If the vested value of your account (including loans) is greater than $1,000 following your termination of employment, you can either elect to defer receipt of your account balance or elect a payment in the plan in one of the methods detailed below:

You may also elect to defer receipt of your distribution up to the month following your 65th birthday. You can elect to further defer receipt of your distribution until April 1 of the year following the year in which you attain age 70-1/2. You can continue to defer federal income tax on the taxable portion of your retirement savings, including avoiding a potential 10% penalty tax, by deciding not to take all or a portion of your account balance. If your distribution is deferred, your plan balance will continue to reflect the investment experience (gain or loss) of the fund(s) in which you choose to invest. Please see "If You Don't Request a Distribution" for more information.

You can elect to receive all or a portion of any amounts invested in the JPMorgan Chase Common Stock Fund in the form of JPMorgan Chase common stock. Please see "Stock Distribution from the JPMorgan Chase Common Stock Fund" in the section "Receiving Account Payments After You Retire or Terminate from JPMorgan Chase" for more information.

Please Note: Taking a distribution from the plan could result in a tax consequence. You are encouraged to read "Tax Consequences" for important information on the associated tax consequences of your election. By taking a distribution from the plan, you may be affecting your ability to accumulate additional retirement benefits. Further, if you elect a lump sum, no additional payments will be paid to you or your beneficiaries.

There are certain steps you need to follow to receive a payment of your 401(k) Savings Plan account following retirement or termination of employment. The following information describes this process.

To receive plan payments, you should contact the 401(k) Savings Plan Web Center or Call Center. If you die, your beneficiary or your estate, as appropriate, should contact the 401(k) Savings Plan Call Center for assistance in filing for plan payments. Please see "Payments to a Beneficiary" for more information.

It may take approximately 10 business days after your employment with JPMorgan Chase ends for your 401(k) Savings Plan records to be updated to reflect your termination. Until these records are updated, you'll be unable to initiate a request for a final distribution. However, during this interim period, you may take advantage of other available plan options and transactions — such as investment fund reallocations and transfers.

In general, your account balance will be valued on the day that your distribution request is recorded and approved, provided it is received by 4 p.m. Eastern Time or the close of the New York Stock Exchange, whichever is earlier. All approved requests for a distribution will usually be disbursed via check and mailed within two business days from the date your account is valued.

If you elect to receive a portion of your vested account balance invested in the JPMorgan Chase Common Stock Fund in the form of common stock, you'll be credited with the appropriate number of shares of JPMorgan Chase stock based on the closing price of the JPMorgan Chase stock on your valuation date. Such shares will be held in a "book-entry" account with JPMorgan Chase's transfer agent, Bank of New York Mellon Shareowner Services (BNY Mellon). Shortly after your distribution is processed, you will receive an account statement from BNY Mellon, along with an explanation of the Direct Registration System (DRS), or book-entry stock ownership. Direct Registration allows for the electronic recordkeeping of share holdings, relieving shareholders of the responsibility of keeping track of actual stock certificates. If you have questions about DRS, you may contact BNY Mellon directly at 1-800-758-4651 (1-800-231-5469 for the hearing impaired).

Please see "JPMorgan Chase Common Stock" in the section "Tax Consequences" for more information.

If you don't request a distribution of your account and the vested value of your account balance, including loans, is greater than $1,000, then your account distribution will automatically be deferred until the month following your 65th birthday. However, you can elect to receive either a full or partial distribution at any time prior to that time. If you do not make such an election, you'll be contacted regarding your payment options shortly before you reach age 65. You may further elect to defer distribution of your account balance until April 1 of the year following the year in which you attain age 70-1/2. If you fail to respond to our request for a payment election or to further defer, your entire vested account balance will be distributed to you in a single lump-sum payment. Please see "Tax Consequences" for more information on the tax consequences of a lump-sum payment made to you.

Under current law, if you're no longer employed by JPMorgan Chase, you must begin to receive payment of your account balance no later than April 1 of the year following the year in which you attain age 70-1/2 or retire, whichever is later. If this "mandatory distribution" provision applies to you, you'll be notified. You can take your mandatory distribution in the form of a lump-sum payment or in installments. If you do not elect to receive an amount at least equal to your "mandatory distribution" amount for any year, you will be subject to a 50% excise tax on the amount of the shortfall. You cannot roll over a mandatory distribution.

In the event of your death prior to complete distribution of your account balance, your beneficiary will receive the vested balance in your account.

If you are married, your vested account balance will be paid to your spouse or to your designated beneficiary (assuming your spouse has provided the necessary consent on Beneficiary Forms approved and accepted by the Plan).

If you are not married, your designated beneficiary is entitled to your vested account balance. If you have not designated a beneficiary, plan payments are made to your estate. Please see "Beneficiaries" for more information.

Generally, beneficiaries have the same distribution options available to active participants. However, a non-spousal beneficiary must complete receipt of your vested account balance within five years of your death. If you die, your beneficiary should contact the 401(k) Savings Plan Call Center for assistance in filing for plan payments.