Common use of Death on or After Required Beginning Date Clause in Contracts

Death on or After Required Beginning Date. If the Traditional IRA Owner dies on or after the required beginning date, the remaining portion of his or her interest will be distributed at least as rapidly as follows. 1. If the Designated Beneficiary is someone other than the Traditional IRA Owner’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the Designated Beneficiary, with such life expectancy determined using the Beneficiary’s age as of his or her birthday in the year following the year of the Traditional IRA Owner’s death, or over the period described in Section 3.03(A)(3) of this Agreement if longer. 2. If the Traditional IRA Owner’s sole Designated Beneficiary is the Traditional IRA Owner’s surviving spouse, the remaining interest will be distributed over such spouse’s life expectancy or over the period described in Section 3.03(A)(3) of this Agreement if longer. Any interest remaining after such spouse’s death will be distributed over such spouse’s remaining life expectancy determined using the spouse’s age as of his or her birthday in the year of the spouse’s death, or, if the distributions are being made over the period described in Section 3.03(A)(3) of this Agreement, over such period. 3. If there is no Designated Beneficiary, or if applicable by operation of Section 3.03(A)(1) or (A)(2) of this Agreement, the remaining interest will be distributed over the Traditional IRA Owner’s remaining life expectancy determined in the year of the Traditional IRA Owner’s death. 4. The amount to be distributed each year under Section 3.03(A)(1), (2), or (3) of this Agreement, beginning with the calendar year following the calendar year of the Traditional IRA Owner’s death, is the quotient obtained by dividing the value of the Traditional IRA as of the end of the preceding year by the remaining life expectancy specified in Section

Death on or After Required Beginning Date. If the Traditional IRA Owner dies on or after the required beginning date, the remaining portion of his or her interest will be distributed at least as rapidly as follows. 1. If the Designated Beneficiary is someone other than the Traditional IRA Owner’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the Designated Beneficiary, with such life expectancy determined using the Beneficiary’s age as of his or her birthday in the year following the year of the Traditional IRA Owner’s death, or over the period described in Section 3.03(A)(3) of this Agreement if longer. 2. If the Traditional IRA Owner’s sole Designated Beneficiary is the Traditional IRA Owner’s surviving spouse, the remaining interest will be distributed over such spouse’s life expectancy or over the period described in Section 3.03(A)(3) of this Agreement if longer. Any interest remaining after such spouse’s death will be distributed over such spouse’s remaining life expectancy determined using the spouse’s age as of his or her birthday in the year of the spouse’s death, or, if the distributions are being made over the period described in Section 3.03(A)(3) of this Agreement, over such period. 3. If there is no Designated Beneficiary, or if applicable by operation of Section 3.03(A)(1) or (A)(2) of this Agreement, the remaining interest will be distributed over the Traditional IRA Owner’s remaining life expectancy determined in the year of the Traditional IRA Owner’s death. 4. The amount to be distributed each year under Section 3.03(A)(1), (2), or (3) of this Agreement, beginning with the calendar year following the calendar year of the Traditional IRA Owner’s death, is the quotient obtained by dividing the value of the Traditional IRA as of the end of the preceding year by the remaining life expectancy specified in SectionSection 3.03 of this Agreement. Life expectancy is determined using the Single Life Table in Q&A-1 of Regulations Section 1.401(a)(9)-9. If distributions are being made to a surviving spouse as the sole Designated Beneficiary, such spouse’s remaining life expectancy for a year is the number in the Single Life Table corresponding to such spouse’s age in the year. In all other cases, remaining life expectancy for a year is the number in the Single Life Table corresponding to the Beneficiary’s or Traditional IRA Owner’s age in the year specified in Section 3.03(A)(1), (2), or (3) of this Agreement and reduced by one for each subsequent year.

Death on or After Required Beginning Date. If the Traditional IRA XXX Owner dies on or after the required beginning date, the remaining portion of his or her interest will be distributed at least as rapidly as follows. 1. If the Designated Beneficiary is someone other than the Traditional IRA XXX Owner’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the Designated Beneficiary, with such life expectancy determined using the Beneficiary’s age as of his or her birthday in the year following the year of the Traditional IRA XXX Owner’s death, or over the period described in Section 3.03(A)(3) of this Agreement if longer. 2. If the Traditional IRA XXX Owner’s sole Designated Beneficiary is the Traditional IRA XXX Owner’s surviving spouse, the remaining interest will be distributed over such spouse’s life expectancy or over the period described in Section 3.03(A)(3) of this Agreement if longer. Any interest remaining after such spouse’s death will be distributed over such spouse’s remaining life expectancy determined using the spouse’s age as of his or her birthday in the year of the spouse’s death, or, if the distributions are being made over the period described in Section 3.03(A)(3) of this Agreement, over such period. 3. If there is no Designated Beneficiary, or if applicable by operation of Section 3.03(A)(1) or (A)(2) of this Agreement, the remaining interest will be distributed over the Traditional IRA XXX Owner’s remaining life expectancy determined in the year of the Traditional IRA XXX Owner’s death. 4. The amount to be distributed each year under Section 3.03(A)(1), (2), or (3) of this Agreement, beginning with the calendar year following the calendar year of the Traditional IRA XXX Owner’s death, is the quotient obtained by dividing the value of the Traditional IRA XXX as of the end of the preceding year by the remaining life expectancy specified in SectionSection 3.03 of this Agreement. Life expectancy is determined using the Single Life Table in Q&A-1 of Regulations Section 1.401(a)(9)-9. If distributions are being made to a surviving spouse as the sole Designated Beneficiary, such spouse’s remaining life expectancy for a year is the number in the Single Life Table corresponding to such spouse’s age in the year. In all other cases, remaining life expectancy for a year is the number in the Single Life Table corresponding to the Beneficiary’s or Traditional XXX Owner’s age in the year specified in Section 3.03(A)(1), (2), or (3) of this Agreement and reduced by one for each subsequent year.

Death on or After Required Beginning Date. If the Traditional IRA XXX Owner dies on or after the required beginning date, the remaining portion of his or her interest will be distributed at least as rapidly as follows. 1. If the Designated Beneficiary is someone other than the Traditional IRA XXX Owner’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the Designated Beneficiary, with such life expectancy determined using the Beneficiary’s age as of his or her birthday in the year following the year of the Traditional IRA XXX Owner’s death, or over the period described in Section 3.03(A)(3) of this Agreement if longer. 2. If the Traditional IRA XXX Owner’s sole Designated Beneficiary is the Traditional IRA XXX Owner’s surviving spouse, the remaining interest will be distributed over such spouse’s life expectancy or over the period described in Section 3.03(A)(3) of this Agreement if longer. Any interest remaining after such spouse’s death will be distributed over such spouse’s remaining life expectancy determined using the spouse’s age as of his or her birthday in the year of the spouse’s death, or, if the distributions are being made over the period described in Section 3.03(A)(3) of this Agreement, over such period. 3. If there is no Designated Beneficiary, or if applicable by operation of Section 3.03(A)(1) or (A)(2) of this Agreement, the remaining interest will be distributed over the Traditional IRA XXX Owner’s remaining life expectancy determined in the year of the Traditional IRA XXX Owner’s death. 4. The amount to be distributed each year under Section 3.03(A)(1), (2), or (3) of this Agreement, beginning with the calendar year following the calendar year of the Traditional IRA XXX Owner’s death, is the quotient obtained by dividing the value of the Traditional IRA XXX as of the end of the preceding year by the remaining life expectancy specified in Section