Common use of Termination of Agreement, Resignation, or Removal of Custodian Clause in Contracts

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual may terminate this agreement at any time by giving written notice to the other. The Custodian can resign as Custodian at any time effective 30 days after mailing written notice of its resignation to the Responsible Individual. Upon receipt of that notice, the Responsible Individual must make arrangements to transfer the Xxxxxxxxx ESA to another financial organization. If the Responsible Individual does not complete a transfer of the Xxxxxxxxx ESA within 30 days from the date the Custodian mails the notice to the Respon- sible Individual, the Custodian has the right to transfer the Xxxxxxxxx ESA assets to a successor Xxxxxxxxx ESA trustee or custodian that the Custodian chooses in its sole discretion or the Custodian may pay the Xxxxxxxxx ESA balance to the Designated Beneficiary in a single sum. The Custodian shall not be liable for any actions or failures to act on the part of any successor trustee or custodian nor for any tax conse- quences the Designated Beneficiary may incur that result from the transfer or distribution of the Xxxxxxxxx ESA assets pursuant to this section. If this agreement is terminated, the Custodian may hold back from the Xxxxxxxxx ESA a reasonable amount of money that it believes is necessary to cover any one or more of the following: • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA; • Any penalties associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA. If the Custodian is a nonbank custodian required to comply with Regulations Section 1.408-2(e) and fails to do so or the custodian is not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodian. The Custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the Desig- nated Beneficiary in cash or property if the balance of this Xxxxxxxxx ESA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement at any time by giving written notice to the other. The Custodian We can resign as Custodian custodian at any time effective 30 time. If we resign, Xxxxx-Xxxxxxxx Capital, LLC (“K-M Capital”) may designate and appoint a successor custodian within 90 days after mailing written we provide them with notice of its resignation to the Responsible Individualour resignation. Upon If K-M Capital does not designate a successor custodian within 90 days after receipt of that notice, the Responsible Individual then we will mail written notice to you of our resignation. Effective 30 days after we mail written notice of our resignation to you, you must make arrangements to transfer the Xxxxxxxxx ESA your IRA to another financial organization. If the Responsible Individual does you are required to transfer your IRA to another financial organization and do not complete a transfer of the Xxxxxxxxx ESA your IRA within 30 days from the date the Custodian mails we send the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your IRA assets to a successor Xxxxxxxxx ESA IRA trustee or custodian that the Custodian chooses we choose in its our sole discretion discretion, or the Custodian we may pay the Xxxxxxxxx ESA balance your IRA to the Designated Beneficiary you in a single sum. The Custodian shall We will not be liable for any actions or failures to act on the part of K-M Capital or any successor trustee or custodian custodian, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your IRA a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following: . • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA; your IRA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA. your IRA If the Custodian is we are a nonbank custodian required to comply with Regulations Section 1.408-section 1.408- 2(e) and fails we fail to do so or the custodian is we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian us to substitute another trustee or custodian. The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your IRA to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your IRA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement at any time by giving written notice to the other. The Custodian However, your termination of this agreement will not be effective until such time as all outstanding fees, costs, indemnities, penalties, expenses, or payments due to us are paid. We can resign as Custodian custodian at any time effective 30 days after mailing we send written notice of its our resignation to the Responsible Individualyou through email (if an email address was provided, otherwise such notice will be sent to you through U.S. mail). Upon receipt of that notice, the Responsible Individual you must make arrangements to transfer the Xxxxxxxxx ESA your IRA to another financial organization. If the Responsible Individual does you do not complete a transfer of the Xxxxxxxxx ESA your IRA within 30 days from the date the Custodian mails we send the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your IRA assets to a successor Xxxxxxxxx ESA IRA trustee or custodian that the Custodian chooses we choose in its our sole discretion discretion, or the Custodian we may pay the Xxxxxxxxx ESA balance or distribute your IRA assets to the Designated Beneficiary you in a single sumsum or assignment. The Custodian shall If we transfer your IRA, the existing IRA documents will govern your IRA relationship with the new custodian or trustee unless the successor custodian/trustee notifies you in writing of any changes and/or requires new IRA documents to be signed by you. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian custodian, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If we terminate this agreement, we reserve the right to distribute your IRA assets to you “in kind” instead of in cash. This will generally result in a taxable distribution and will be reported to the IRS and to you. If we distribute your IRA assets in kind, we will not withhold federal or state income taxes. Instead, you understand and agree that we may deem you to have waived all federal and state income tax withholding on the distribution. You will still be responsible for all tax implications resulting from the distribution, and you agree not to hold us accountable for any such income tax withholding. If this agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your IRA a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following: • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA; your IRA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESAyour IRA. If the Custodian After your IRA with us is a nonbank custodian required closed, if there are additional assets remaining in or subsequently credited to comply your IRA, we will seek to distribute or transfer such assets in accordance with Regulations Section 1.408-2(e) your prior direction, but only after offsetting any applicable administrative expenses and fails custodial fees (according to do so or the custodian is not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodianour then operative fee schedule). The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your IRA to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your IRA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement at any time by giving written notice to the other. The Custodian However, your termination of this agreement will not be effective until such time as all outstanding fees, costs, indemnities, penalties, expenses, or payments due to us are paid. We can resign as Custodian custodian at any time effective 30 days after mailing we send written notice of its our resignation to the Responsible Individualyou through email (if an email address was provided, otherwise such notice will be sent to you through U.S. mail). Upon receipt of that notice, the Responsible Individual you must make arrangements to transfer the Xxxxxxxxx ESA your Xxxx XXX to another financial organization. If the Responsible Individual does you do not complete a transfer of the Xxxxxxxxx ESA your Xxxx XXX within 30 days from the date the Custodian mails we send the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your Xxxx XXX assets to a successor Xxxxxxxxx ESA Xxxx XXX trustee or custodian that the Custodian chooses we choose in its our sole discretion discretion, or the Custodian we may pay the Xxxxxxxxx ESA balance or distribute your Xxxx XXX assets to the Designated Beneficiary you in a single sumsum or assignment. The Custodian shall If we transfer your Xxxx XXX, the existing Xxxx XXX documents will govern your Xxxx XXX relationship with the new custodian or trustee unless the successor custodian/trustee notifies you in writing of any changes and/or requires new Xxxx XXX documents to be signed by you. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian custodian, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If we terminate this agreement, we reserve the right to distribute your Xxxx XXX assets to you “in kind” instead of in cash. This will generally result in a taxable distribution and will be reported to the IRS and to you. If we distribute your Xxxx XXX assets in kind, we will not withhold federal or state income taxes. Instead, you understand and agree that we may deem you to have waived all federal and state income tax withholding on the distribution. You will still be responsible for all tax implications resulting from the distribution, and you agree not to hold us accountable for any such income tax withholding. If this agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your Xxxx XXX a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following: • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA; your Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESAyour Xxxx XXX. If the Custodian After your Xxxx XXX with us is a nonbank custodian required closed, if there are additional assets remaining in or subsequently credited to comply your Xxxx XXX, we will seek to distribute or transfer such assets in accordance with Regulations Section 1.408-2(e) your prior direction, but only after offsetting any applicable administrative expenses and fails custodial fees (according to do so or the custodian is not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodianour then operative fee schedule). The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your Xxxx XXX to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement Agreement at any time by giving written notice to the other. The Custodian We can resign as Custodian at any time effective 30 days after mailing written we mail writ- ten notice of its our resignation to the Responsible Individualyou. Upon receipt of that noticeno- xxxx, the Responsible Individual you must make arrangements to transfer the Xxxxxxxxx ESA your SIMPLE IRA to another financial organization. If the Responsible Individual does you do not complete a transfer of the Xxxxxxxxx ESA your SIMPLE IRA within 30 days from the date the Custodian mails we mail the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your SIMPLE IRA assets to a successor Xxxxxxxxx ESA SIMPLE IRA custodian or trustee that we choose, in our sole discretion, or custodian that the Custodian chooses in its sole discretion or the Custodian we may pay the Xxxxxxxxx ESA balance your SIMPLE IRA to the Designated Beneficiary you in a single sum. The Custodian We shall not be liable for any actions or failures to act on the part of any successor trustee custodian or custodian trustee, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement Agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your SIMPLE IRA a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to, one or more of the following: • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESAyour SIMPLE IRA; • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment invest- ment in the Xxxxxxxxx ESAyour SIMPLE IRA. If the Custodian is a nonbank custodian we are required to comply with Regulations Section 1.408-2(e) 1.408–2(e), and fails we fail to do so so, or the custodian is we are not keeping the records, making the returns, or sending the statements as are required by forms or regulationsRegulations, the IRS may may, after notifying you, require the custodian you to substitute another trustee or custodian. The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your SIMPLE IRA to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your SIMPLE IRA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement at any time by giving written notice to the other. The Custodian We can resign as Custodian custodian at any time effective 30 time. If we resign, Xxxxx-Xxxxxxxx Capital, LLC (“K-M Capital”) may designate and appoint a successor custodian within 90 days after mailing written we provide them with notice of its resignation to the Responsible Individualour resignation. Upon If K-M Capital does not designate a successor custodian within 90 days after receipt of that notice, the Responsible Individual then we will mail written notice to you of our resignation. Effective 30 days after we mail written notice of our resignation to you, you must make arrangements to transfer the Xxxxxxxxx ESA your Xxxx XXX to another financial organization. If the Responsible Individual does you are required to transfer your XXX to another financial organization and do not complete a transfer of the Xxxxxxxxx ESA your Xxxx XXX within 30 days from the date the Custodian mails we send the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your Xxxx XXX assets to a successor Xxxxxxxxx ESA Xxxx XXX trustee or custodian that the Custodian chooses we choose in its our sole discretion discretion, or the Custodian we may pay the Xxxxxxxxx ESA balance your Xxxx XXX to the Designated Beneficiary you in a single sum. The Custodian shall We will not be liable for any actions or failures to act on the part of K-M Capital or any successor trustee or custodian custodian, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your Xxxx XXX a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following: . • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA; your Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA. your Xxxx XXX If the Custodian is we are a nonbank custodian required to comply with Regulations Section section 1.408-2(e) and fails we fail to do so or the custodian is we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian us to substitute another trustee or custodian. The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your Xxxx XXX to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement Agreement at any time by giving written notice to the other. The Custodian We can resign as Custodian at any time effective 30 days after mailing we mail written notice of its our resignation to the Responsible Individualyou. Upon receipt of that notice, the Responsible Individual you must make arrangements to transfer the Xxxxxxxxx ESA your Roth IRA to another financial organization. If the Responsible Individual does you do not complete a transfer of the Xxxxxxxxx ESA your Roth IRA within 30 days from the date the Custodian mails we mail the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your Roth IRA assets to a successor Xxxxxxxxx ESA succes- sor Roth IRA custodian or trustee that we choose in our sole discretion, or custodian that the Custodian chooses in its sole discretion or the Custodian we may pay the Xxxxxxxxx ESA balance your Roth IRA to the Designated Beneficiary you in a single sum. The Custodian We shall not be liable for any actions or failures to act on the part of any successor trustee custodian or custodian trustee, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement Agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your Roth IRA a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to, one or more of the following: • Any fees, expenses, expenses or taxes chargeable against the Xxxxxxxxx ESAyour Roth IRA; • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment invest- ment in the Xxxxxxxxx ESAyour Roth IRA. If the Custodian is a nonbank custodian we are required to comply with Regulations Section 1.408-2(e) 1.408–2(e), and fails we fail to do so so, or the custodian is we are not keeping the records, making the returns, or sending the statements as are required by forms or regulationsRegulations, the IRS may may, after notifying you, require the custodian you to substitute another trustee or custodian. The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your Roth IRA to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your Roth IRA drops below the minimum balance required under the applicable investment invest- ment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement at any time by giving written notice to the other. The Custodian However, your termination of this agreement will not be effective until such time as all outstanding fees, costs, indemnities, penalties, expenses, or payments due to us are paid. We can resign as Custodian custodian at any time effective 30 days after mailing we send written notice of its our resignation to the Responsible Individualyou through email (if an email address was provided, otherwise such notice will be sent to you through U.S. mail). Upon receipt of that notice, the Responsible Individual you must make arrangements to transfer the Xxxxxxxxx ESA your IRA to another financial organization. If the Responsible Individual does you do not complete a transfer of the Xxxxxxxxx ESA your IRA within 30 days from the date the Custodian mails we send the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your IRA assets to a successor Xxxxxxxxx ESA IRA trustee or custodian that the Custodian chooses we choose in its our sole discretion discretion, or the Custodian we may pay the Xxxxxxxxx ESA balance or distribute your IRA assets to the Designated Beneficiary you in a single sumsum or assignment. The Custodian shall If we transfer your IRA, the existing IRA documents will govern your IRA relationship with the new custodian or trustee unless the successor custodian/trustee notifies you in writing of any changes and/or requires new IRA documents to be signed by you. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian custodian, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If we terminate this agreement, we reserve the right to distribute your IRA assets to you “in kind” instead of in cash. This will generally result in a taxable distribution and will be reported to the IRS and to you. If we distribute your IRA assets in kind, we will not withhold federal or state income taxes. Instead, you understand and agree that we may deem you to have waived all federal and state income tax withholding on the distribution. You will still be responsible for all tax implications resulting from the distribution, and you agree not to hold us accountable for any such income tax withholding. If this agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your IRA a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following: • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA; your SIMPLE IRA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA. your SIMPLE IRA If the Custodian is we are a nonbank custodian required to comply with Regulations Section section 1.408-2(e) and fails we fail to do so or the custodian is we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian us to substitute another trustee or custodian. The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your SIMPLE IRA to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your SIMPLE IRA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Custodian reserves the right to close the account without notice if it is not funded within ninety (90) days of account opening. An account that does not hold any assets and has not had any activity (e.g., a withdrawal, deposit, or transfer) for six (6) months may be classified as inactive. The Custodian reserves the right to close an inactive account at any time and without notice. Either the Custodian or the Responsible Individual party may terminate this agreement Agreement at any time by giving written notice to the other. The Custodian However, your termination of this Agreement will not be effective until such time as all outstanding fees, costs, indemnities, penalties, expenses, or payments due to us are paid or until we, at our discretion, waive the same. We can resign as Custodian at any time effective 30 days after mailing we mail written notice of its our resignation to the Responsible Individualyou via email (if an email address was provided, otherwise such notice will be sent to you via U.S. mail). Upon receipt of that notice, the Responsible Individual you must make arrangements to transfer the Xxxxxxxxx ESA your account to another financial organization. If the Responsible Individual does you do not complete a transfer of the Xxxxxxxxx ESA your account within 30 days from the date the Custodian mails we mail the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your account assets to a successor Xxxxxxxxx ESA Custodian or trustee that we choose in our sole discretion, or custodian that the Custodian chooses in its sole discretion or the Custodian we may pay the Xxxxxxxxx ESA balance or distribute your account assets to the Designated Beneficiary you in a single sumsum or assignment. The Custodian If we transfer your account, the existing account documents will govern your account relationship with the new custodian or trustee unless the successor custodian/trustee notifies you in writing of any changes and/or requires new account documents to be signed by you. We shall not be liable for any actions or failures to act on the part of any successor trustee custodian or custodian trustee, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement Agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your account a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to, one or more of the following: • Any any fees, expenses, expenses or taxes chargeable against the Xxxxxxxxx ESAyour account; • Any any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA. If the Custodian your account after your account with us is a nonbank custodian required closed, if there are additional assets remaining in or subsequently credited to comply your account, we will endeavor to distribute or transfer such assets in accordance with Regulations Section 1.408-2(e) your prior direction, but after offsetting any applicable administrative expenses and fails to do so or the custodian is not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian to substitute another trustee or custodian. The Custodian may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA to the Desig- nated Beneficiary in cash or property if the balance of this Xxxxxxxxx ESA drops below the minimum balance required under the applicable investment or policy establishedcustodial fees (per our then operative fee schedule).

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement at any time by giving written notice to the other. The Custodian This agreement shall also terminate upon the complete distribution of the assets of the custodial account. We can resign as Custodian custodian at any time effective 30 days after mailing we send written notice of its our resignation to the Responsible Individualyou. Upon receipt of that notice, the Responsible Individual you must make arrangements to transfer the Xxxxxxxxx ESA your SIMPLE IRA to another financial organization. If the Responsible Individual does you do not complete a transfer of the Xxxxxxxxx ESA your SIMPLE IRA within 30 days from the date the Custodian mails we send the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your SIMPLE IRA assets to a successor Xxxxxxxxx ESA SIMPLE IRA trustee or custodian that the Custodian chooses we choose in its our sole discretion discretion, or the Custodian we may pay the Xxxxxxxxx ESA balance your SIMPLE IRA to the Designated Beneficiary you in a single sum. The Custodian shall We will not be liable for any actions or failures to act on the part of any successor trustee or custodian custodian, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. If this agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your SIMPLE IRA a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following: . • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA; your SIMPLE IRA • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA. your SIMPLE IRA If the Custodian is we are a nonbank custodian required to comply with Regulations Section 1.408-2(esection 1.408‐2(e) and fails we fail to do so or the custodian is we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian us to substitute another trustee or custodian. The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your SIMPLE IRA to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your SIMPLE IRA drops below the minimum balance required under the applicable investment or policy established.

Termination of Agreement, Resignation, or Removal of Custodian. Either the Custodian or the Responsible Individual party may terminate this agreement at any time by giving written notice to the other. The Custodian We can resign as Custodian custodian at any time effective 30 time. If we resign, Xxxxx-Xxxxxxxx Capital, LLC (“K-M Capital”) may designate and appoint a successor custodian within 90 days after mailing written we provide them with notice of its resignation to the Responsible Individualour resignation. Upon If K-M Capital does not designate a successor custodian within 90 days after receipt of that notice, the Responsible Individual then we will mail written notice to you of our resignation. Effective 30 days after we mail written notice of our resignation to you, you must make arrangements to transfer the Xxxxxxxxx ESA your Xxxx XXX to another financial organization. If the Responsible Individual does you are required to transfer your IRA to another financial organization and do not complete a transfer of the Xxxxxxxxx ESA your Xxxx XXX within 30 days from the date the Custodian mails we send the notice to the Respon- sible Individualyou, the Custodian has we have the right to transfer the Xxxxxxxxx ESA your Xxxx XXX assets to a successor Xxxxxxxxx ESA Xxxx XXX trustee or custodian that the Custodian chooses we choose in its our sole discretion discretion, or the Custodian we may pay the Xxxxxxxxx ESA balance your Xxxx XXX to the Designated Beneficiary you in a single sum. The Custodian shall We will not be liable for any actions or failures to act on the part of K-M Capital or any successor trustee or custodian custodian, nor for any tax conse- quences the Designated Beneficiary consequences you may incur that result from the transfer or distribution of the Xxxxxxxxx ESA your assets pursuant to this section. .If this agreement is terminated, the Custodian we may hold back from the Xxxxxxxxx ESA charge to your Xxxx XXX a reasonable amount of money that it believes we believe is necessary to cover any associated costs, including but not limited to one or more of the following: . • Any fees, expenses, or taxes chargeable against the Xxxxxxxxx ESA; your Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in the Xxxxxxxxx ESA. your Xxxx XXX If the Custodian is we are a nonbank custodian required to comply with Regulations Section section 1.408-2(e) and fails we fail to do so or the custodian is we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require the custodian us to substitute another trustee or custodian. The Custodian We may establish a policy requiring distribution of the entire balance of this Xxxxxxxxx ESA your Xxxx XXX to the Desig- nated Beneficiary you in cash or property if the balance of this Xxxxxxxxx ESA your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.