Your benefits as a participant in the JPMorgan Chase 401(k) Savings Plan are provided under the terms of the official plan text, policies, and/or contracts. If there is any discrepancy between the official plan documents and this summary, the official plan documents control.

Please Note: Only the plan administrator for the JPMorgan Chase Benefits Program (named fiduciary of the plan) has any authority to interpret the JPMorgan Chase 401(k) Savings Plan (or official plan documents) or to make any promises to you about them. The plan administrator for the JPMorgan Chase Benefits Program has complete authority in their sole and absolute discretion to construe and interpret the terms of the JPMorgan Chase 401(k) Savings Plan and any underlying policies and/or contracts, including the eligibility to participate in the plan.

All decisions of the plan administrator for the JPMorgan Chase Benefits Program are final and binding upon all affected parties.

JPMorgan Chase reserves the right to amend, modify, reduce or curtail future benefits under, or terminate the 401(k) Savings Plan at any time for any reason by act of the Compensation and Benefits Executive, other authorized officers, or the Board of Directors. For example, a decision to amend or terminate the plan may be due to a change in federal or state laws governing benefit plans, the requirements of the Internal Revenue Code or the Employee Retirement Income Security Act (ERISA), the provisions of a contract with an insurance company, or for any other reason. No amendment or termination shall affect a benefit previously accrued. However, amendments may include retroactive amendments to the extent allowed by law.

In accordance with the plan and applicable law, if the plan is terminated, all contributions to the plan will stop and you'll be entitled to the full amount in your account as of the date of termination (adjusted for investment experience), regardless of whether you're vested at the time of termination. All of the assets on hand in the trust on the date of termination will continue to be held by the Trustee and distributed in accordance with the terms of the plan and applicable laws.

If you have any questions about this plan, please call the 401(k) Savings Plan Call Center.

JPMorgan Chase also reserves the right to amend any of the plans and policies, to change the method of providing benefits, to change the eligibility requirements, to curtail or reduce future benefits, or to terminate at any time any of the plans and policies described in this Guide. Neither this Guide nor the benefits described in this Guide create a contract of employment or a guarantee of employment between JPMorgan Chase and any individual. Your employment is always on an at-will basis. JPMorgan Chase or you may terminate the employment relationship at any time. Official plan documents control the payment and accrual of benefits, not the Guide.

Your 401(k) Savings Plan account cannot be sold, assigned, transferred, pledged, or garnished, under most circumstances. However, if you become divorced or legally separated, certain court orders could require that part of your account be paid to someone else — your spouse or children, for example. This is known as a Qualified Domestic Relations Order (QDRO). JPMorgan Chase is legally required to recognize QDROs.

If you're a party in a divorce settlement that involves the JPMorgan Chase 401(k) Savings Plan, you should have your attorney call the QDRO Unit of Corporate Benefits to make sure that the appropriate documents are filed and that the court order in question is actually a QDRO that complies with governing legislation. A participant or beneficiary may obtain a description of the procedures governing QDRO determinations, without charge, by contacting the QDRO Unit of Corporate Benefits at 1-212-552-0167. However, a sample QDRO will only be sent to the attorney provided you have completed the "QDRO Authorization for Release of Qualified Plan Information" form or provided a copy of the divorce decree.

The JPMorgan Chase Common Stock Fund is a direct investment fund and also an Employee Stock Ownership Plan (ESOP). The Trustee holds all shares of JPMorgan Chase common stock credited to the JPMorgan Chase Common Stock Fund in your account. You are given the opportunity to instruct the Trustee how to vote shares allocated to your account at the annual shareholders' meeting. The Trustee will vote unvoted shares in the same proportion as voted shares. Before the meeting, you'll receive voting instructions. The Board of Directors of JPMorgan Chase has adopted procedures that ensure the strict confidentiality of your voting instructions as a plan participant. These procedures provide that no inspector of elections can be an employee of JPMorgan Chase and that the entity tabulating the vote is annually advised of the confidential nature of the voting instructions and is required to so advise its employees. Information on voting instructions would be released only if required by law or authorized by a shareholder.

In order to ensure compliance with certain federal securities law requirements, certain plan participants cannot make elections that affect participation in the JPMorgan Chase Common Stock Fund, except during specified quarterly "window periods." Each "window period" generally will be the period beginning the day after the release of quarterly earnings and ending on the 15th day of the following month. You'll be notified if you're subject to these restrictions. If applicable, you should consult the Code of Conduct for any applicable limitation as to the timing of any investment elections you would like to make.

If you have any questions, you should contact the Office of the Secretary at 1-212-270-4040.

As required by law, alternate plan provisions go into effect if the 401(k) Savings Plan becomes "top-heavy." The plan is considered top-heavy if more than 60% of accumulated account balances are payable to "key employees." Key employees include employees who are highly paid stockholders, JPMorgan Chase officers, and their beneficiaries. The plan administrator is responsible for determining if the plan is a top-heavy plan each year. You'll be notified of the situation and your rights in the unlikely event the plan becomes top-heavy.

The JPMorgan Chase 401(k) Savings Plan is a defined contribution plan. Since benefits under the plan are fully funded, benefits are not insured through the Pension Benefit Guaranty Corporation (PBGC) under Title IV of ERISA because the insurance provisions are not applicable to this type of plan.

The trustee of the JPMorgan Chase 401(k) Savings Plan has claimed an exclusion from the definition of the term "commodity pool operator" under the Commodity Exchange Act, and accordingly, is not subject to registration or regulation as a pool operator under that Act.

If your claim for benefits under the JPMorgan Chase 401(k) Savings Plan is denied, either in whole or in part, you can appeal the denial by following the appropriate procedures described in the "Plan Administration" section of this Guide.

Certain investment funds offered by the JPMorgan Chase 401(k) Savings Plan are operated by managers who have claimed an exclusion from the definition of the term "commodity pool operator" and, as a result, are not subject to registration or regulation as a pool operator under the Commodities Future Trading Act.