Common use of Individual Account Clause in Contracts

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-2. d. The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a6.06(D)(1)(a) above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-2. d. The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. (1) If a Participant's benefit is to be distributed over (1a) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2b) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. (2) For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. (3) For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1a) the applicable life expectancy or (2b) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a7.4(c)(i) above as the relevant divisor without regard to proposed regulations section 1.401(a)(9)-2. d. (4) The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. (a) If a Participant's benefit is to be distributed over (1i) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2ii) a period not extending beyond the life expectancy of the designated Beneficiarybeneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. (b) For calendar years beginning before January 1, 1989, if the Participant's spouse Spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. (c) For calendar years beginning after December 31, 19881986, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1i) the applicable life expectancy or (2ii) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a14.4.1 (a) above as the relevant divisor without regard to proposed regulations Proposed Regulations Section 1.401(a)(9)-2. d. (d) The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 I .401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-2I .401(a)(9)-2. d. The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. (A) If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. (B) For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. (C) For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulationsproposed regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(aParagraph (A) above as the relevant divisor without regard to proposed regulations Section 1.401(a)(9)-2. d. (D) The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. (i) If a ParticipantMember's benefit Benefit is to be distributed over over (1A) a period not extending beyond the life expectancy Life Expectancy of the Participant Member or the joint life Joint Life and last survivor expectancy Last Survivor Expectancy of the Participant Member and the ParticipantMember's designated Designated Beneficiary or or (2B) a period not extending beyond the life expectancy Life Expectancy of the designated Designated Beneficiary, the amount required to be distributed for each calendar year, year beginning with the distributions for the first distribution calendar yearDistribution Calendar Year, must be at least equal to the quotient obtained by dividing the ParticipantMember's benefit Benefit by the applicable life expectancyApplicable Life Expectancy. b. (ii) For calendar years beginning before January 1, 1989, if the ParticipantMember's spouse is not the designated Designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy Life Expectancy of the ParticipantMember. c. (iii) For calendar years year beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year Distribution Calendar Year shall not be less than the quotient obtained by dividing the ParticipantMember's benefit Benefit by the lesser of of (1A) the applicable life expectancy or Applicable Life Expectancy or (2B) if the ParticipantMember's spouse is not the designated Designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section section 1.401(a)(9)-2 of the Proposed Income Tax Regulationsproposed regulations. Distributions after the death of the Participant Member shall be distributed using the applicable life expectancy Applicable Life Expectancy in Section 6.05(D)(1)(a(5)(i) above as the relevant divisor without regard to proposed regulations Proposed Regulations section 1.401(a)(9)-2. d. (iv) The minimum distribution required for the ParticipantMember's first distribution calendar year Distribution Calendar Year must be made on or before the ParticipantMember's required beginning dateRequired Beginning Date. The minimum distribution for the Distribution Calendar Year for other calendar years, including the minimum distribution for the distribution calendar year Distribution Calendar Year in which the EmployeeMember's required beginning date Required Beginning Date occurs, must be made on or before December 31 of that distribution calendar yearDistribution Calendar Year.

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 Q&A4 of Section 1.401(a)(9)-2 1.401(a)(9)2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-21.401(a)(9)2. d. The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the 27 ================================================================================ 23 designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-2. d. The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. (i) If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar yearDistribution Calendar Year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancyApplicable Life Expectancy. b. (ii) For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. (iii) For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year Distribution Calendar Year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy Applicable Life Expectancy or (2) if the Participant's spouse is not the designated Designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section section 1.401(a)(9)-2 of the Proposed Income Tax Regulationsproposed regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above Applicable Life Expectancy as the relevant divisor without regard to proposed regulations section 1.401(a)(9)-2. d. (iv) The minimum distribution required for the Participant's first distribution calendar year Distribution Calendar Year must be made on or before the Participant's required beginning dateRequired Beginning Date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year Distribution Calendar Year in which the Employee's required beginning date Required Beginning Date occurs, must be made on or before December 31 of that distribution calendar yearthe Distribution Calendar Year.

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy Life Expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy Life Expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar yearDistribution Calendar Year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancyApplicable Life Expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse Spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% 50 percent of the present value Present Value of the amount available for distribution is paid within the life expectancy Life Expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year Distribution Calendar Year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy Applicable Life Expectancy or (2) if the Participant's spouse Spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy Applicable Life Expectancy in Section 6.05(D)(1)(a5.05(D)(1)(a) of the Plan above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-2Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. d. The minimum distribution required for the Participant's first distribution calendar year Distribution Calendar Year must be made on or before the Participant's required beginning dateRequired Beginning Date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year Distribution Calendar Year in which the Employee's required beginning date Required Beginning Date occurs, must be made on or before December 31 of that distribution calendar yearDistribution Calendar Year.

Individual Account. a. 1. If a Participant's benefit is to be distributed over (1i) a period not extending beyond the life expectancy Life Expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Designated Beneficiary or (2ii) a period not extending beyond the life expectancy Life Expectancy of the designated Designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar yearDistribution Calendar Year, must at least equal the quotient obtained by dividing the Participant's benefit Account balance by the applicable life expectancyApplicable Life Expectancy. b. 2. For calendar years beginning before January 1, 1989, if the Participant's spouse Spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy Life Expectancy of the Participant. c. 3. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year Distribution Calendar Year shall not be less than the quotient obtained by dividing the Participant's benefit Account balance by the lesser of (1i) the applicable life expectancy Applicable Life Expectancy or (2ii) if the Participant's spouse Spouse is not the designated Designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 1.401(a)9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above as the relevant divisor Applicable Life Expectancy without regard to proposed the applicable divisor determined regulations Section 1.401(a)(9)-2. d. 4. The minimum distribution required for the Participant's first distribution calendar year Distribution Calendar Year must be made on or before the Participant's required beginning dateRequired Beginning Date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year Distribution Calendar Year in which the EmployeeParticipant's required beginning date Required Beginning Date occurs, must be made on or before December 31 of that Distribution Calendar Year. 5. A Participant may accelerate distribution calendar yearof the balance of his Account as of any Valuation Date by electing to receive the balance of his or her Account in a lump-sum, or electing to receive a specified portion of the balance of his or her Account. An election shall be made by delivering a written election to the Plan Administrator at least 30 days in advance of 41 the Valuation Date as of which the accelerated distribution is to be made.

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for distribution: the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 Q&-A-4 of Section 1.401(a)(9)-2 Section 1. 401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-2. d. The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. (1) If a Participant's benefit Benefit is to be distributed over over: (1i) a period not extending beyond the life expectancy Life Expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or Designated Beneficiary; or (2ii) a period not extending beyond the life expectancy Life Expectancy of the designated Designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar yearDistribution Calendar Year, must at least equal the quotient obtained by dividing the Participant's benefit Benefit by the applicable life expectancyLife Expectancy. b. (2) For calendar years beginning before January 1, 1989, if the Participant's spouse Spouse is not the designated Designated Beneficiary, the method of distribution selected must assure that at least 50% 50 percent of the present value of the amount available for distribution is paid within the life expectancy Life Expectancy of the Participant. c. (3) For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year Distribution Calendar Year shall not be less than the quotient obtained by dividing the Participant's benefit Benefit by the lesser of of: (1i) the applicable life expectancy or Life Expectancy; or (2ii) if the Participant's spouse Spouse is not the designated Designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulationsproposed regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy Life Expectancy in Section 6.05(D)(1)(a10.04(a)(1) above as the relevant divisor without regard to proposed regulations Section 1.401(a)(9)-2. d. (4) The minimum distribution required for the Participant's first distribution calendar year Distribution Calendar Year must be made on or before the Participant's required beginning dateRequired Beginning Date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year Distribution Calendar Year in which the Employee's required beginning date Required Beginning Date occurs, must be made on or before December 31 of that distribution calendar yearDistribution Calendar Year.

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 Q&-A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-2. d. The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.

Individual Account. a. If a Participant's benefit is to be distributed over (1) a period not extending beyond the life expectancy of the Participant or the joint life and last survivor expectancy of the Participant and the Participant's designated Beneficiary or (2) a period not extending beyond the life expectancy of the designated Beneficiary, the amount required to be distributed for each calendar year, beginning with distributions for distribution: the first distribution calendar year, must at least equal the quotient obtained by dividing the Participant's benefit by the applicable life expectancy. b. For calendar years beginning before January 1, 1989, if the Participant's spouse is not the designated Beneficiary, the method of distribution selected must assure that at least 50% of the present value of the amount available for distribution is paid within the life expectancy of the Participant. c. For calendar years beginning after December 31, 1988, the amount to be distributed each year, beginning with distributions for the first distribution calendar year shall not be less than the quotient obtained by dividing the Participant's benefit by the lesser of (1) the applicable life expectancy or (2) if the Participant's spouse is not the designated Beneficiary, the applicable divisor determined from the table set forth in Q&A-4 Q&-A-4 of Section 1.401(a)(9)-2 of the Proposed Income Tax Regulations. Distributions after the death of the Participant shall be distributed using the applicable life expectancy in Section 6.05(D)(1)(a) above as the relevant divisor without regard to proposed regulations 1.401(a)(9)-2. d. The minimum distribution required for the Participant's first distribution calendar year must be made on or before the Participant's required beginning date. The minimum distribution for other calendar years, including the minimum distribution for the distribution calendar year in which the Employee's required beginning date occurs, must be made on or before December 31 of that distribution calendar year.