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					                                                                                                University of North Carolina
                                                                                              Vendor: Lincoln Financial Group


                                           Vehicle Type
                       Name of Investment (mutual fund,            Ticker/                              Expense     Sales   Other       Revenue         Withdrawal
   Asset Class              Vehicle       annuity, other)         Identifier        Benchmark            Ratio1)   Charge   Loads       Sharing2)       Provisions
Principal Protection
(Money market,           Lincoln Stable Value                                     Hueler Stable Value
                                                     Annuity     Not Applicable                          0.94%      0.00%       0.00%      0.85%         See Below3)
Fixed Accounts or              Account                                                   Index
Stable Value)


                                                                                                                                                        2% redemption
                                                                                   Lehman Brothers                                                      fee charged on
                       PIMCO Total Return A LW     Mutual Fund    PTTAX.LW                               0.90%      0.00%       0.00%      0.40%
                                                                                  US Aggregate Bond                                                      shares held 7
Bond                                                                                                                                                      days or less


                           American Funds
                                                   Mutual Fund      RFNEX           S&P 500 Index        0.64%      0.00%       0.00%      0.35%            None
                       Fundamental Investors R4

Core Equity                                                                                                                                             1% redemption
                                                                                                                                        0.30% + $12
                                                                                                                                                        fee charged on
                        Dreyfus S&P 500 Index      Mutual Fund      PEOPX           S&P 500 Index        0.50%      0.00%       0.00%   per ppt/acct/
                                                                                                                                                        shares held 30
                                                                                                                                          fund/year
                                                                                                                                                          days or less


                                                                                                                                                        2% redemption
                       Calvert Social Investment                                     Russell 1000                                                       fee charged on
                                                   Mutual Fund    CSIEX.LW                               1.21%      0.00%       0.00%      0.35%
                             Equity A LW                                               Growth                                                           shares held 30
                                                                                                                                                          days or less
Style Based Equity4)
                       BlackRock Equity Dividend
                                                   Mutual Fund    MDDVX.LW        Russell 1000 Value     1.03%      0.00%       0.00%      0.50%            None
                                A LW
                        American Funds Growth                                        Russell 1000
                                                   Mutual Fund      RGAEX                                0.65%      0.00%       0.00%      0.35%            None
                          Fund of America R4                                           Growth

International/Global       American Funds                                          MSCI EAFE NR
                                                   Mutual Fund      REREX                                0.83%      0.00%       0.00%      0.35%            None
Equity                  EuroPacific Growth R4                                          USD

                       AIM Mid Cap Core Equity
                                                   Mutual Fund    GTAGX.LW        S&P Mid Cap 400        1.22%      0.00%       0.00%      0.50%            None
                                A LW




Aggressive Equity
                                                                                                                                                                                 2% redemption
                             BlackRock Small Cap                                                      Russell 2000                                                               fee charged on
                                                            Mutual Fund         CSGEX.LW                             1.12%            0.00%         0.00%           0.50%
                             Growth Equity A LW                                                         Growth                                                                   shares held 30
                                                                                                                                                                                   days or less
Aggressive Equity
                                                                                                 Russell Mid Cap
                             Columbia Acorn A LW            Mutual Fund         LACAX.LW                             1.03%            0.00%         0.00%           0.50%             None
                                                                                                     Growth
                           Columbia Mid Cap Value A                                              Russell Mid Cap
                                                            Mutual Fund         CMUAX.LW                             1.12%            0.00%         0.00%           0.50%             None
                                      LW                                                             Value
                           Columbia Small Cap Value
                                                            Mutual Fund         CSMIX.LW       Russell 2000 Value    1.29%            0.00%         0.00%           0.50%             None
                                    I A LW

                         American Funds Income                                           Dow Jones US
                                                       Mutual Fund           RIDEX                                   0.65%            0.00%         0.00%           0.35%             None
                           Fund of America R45)                                         Moderate Portfolio
Target Date/Lifestyle
                        LifeSpan ® asset allocation
                                                      Not Applicable     Not Applicable  Not Applicable              0.94%7)          0.00%         0.00%      Not Applicable    Not Applicable
                                 models6)
1)
   Source: Morningstar. Expense ratios shown are net of any applicable fee waivers.
2)
     The revenue we receive is from the total operating expense of the fund, not in addition to it.
3)
 If UNC chooses to terminate the Lincoln Alliance ® program, withdrawals from the Lincoln Stable Value Account can be processed as follows:
 Full contract value paid in a lump sum within 12 months of the termination provided the employer gives us 12-month advance notice of termination, or
 Full contract value in six installments over a 5-year period, or
 Full contract value less a market value adjustment paid at contract termination.

In addition, there are no restrictions on withdrawals from the Lincoln Stable Value Account for a participant’s death, disability, hardship, payment pursuant to a QDRO, purchase an annuity
under the contract, retirement or termination of employment, excluding termination of employment due to plan termination, plant shutdown or any other program instituted by the plan sponsor
which reduces the work force by more than 20%.

If there is a competing fund in the line up, there are certain limits on transfers from the Lincoln Stable Value Account. Transfers to competing funds are restricted. Transfers must be made
into non-competing funds and remain there for 90 days before being transferred into a competing fund. This special rule is an “equity wash provision” and is required to keep an acceptable
yield and liquidity in the Lincoln Stable Value Account. Participant initiated withdrawals for bona fide benefits are non-restricting.
4)
 Funds placed within this category target large cap companies and look to use manager skill to create excess portfolio returns. They are not core equity or aggressive equity but fit into style
based equity due to their capital appreciation goals.
5)
 American Funds Income Fund of America is a moderate level risk based fund that has historically invested in 60% stocks and 40% bonds/cash. It is not a target date fund but a risk based
model.
6)
 Lincoln Financial Group offers LifeSpan ® asset allocation models at no cost to UNC or the participant. Lincoln Financial Group uses an independent investment consultant to evaluate the
plan’s investment options and develop asset allocation models. UNC may offer risk-based, time-based and combination models.
7)
     The expense ratio shown is an average of the investment options' expense ratio.

				
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