Common use of REQUIRED DISTRIBUTION UPON DEATH Clause in Contracts

REQUIRED DISTRIBUTION UPON DEATH. (a) Death On or After Required Beginning Date: If the Participant dies on or after the Required Beginning Date, the remaining portion of the Participant’s Account shall be distributed to the Participant’s first generation Beneficiary at least as rapidly as under Sections 10.4 (a)(i), (a)(ii) or (a) (iii): (i) If the designated first generation Beneficiary is someone other than the Participant’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the designated first generation Beneficiary, with such life expectancy determined using the first generation Beneficiary’s age as of his birthday in the year following the year of the Participant’s death, or over the period described in (a)(3) below if longer. (ii) If the Participant’s sole designated first generation Beneficiary is the Participant’s surviving spouse, the remaining interest will be distributed over such spouse’s life or over the period described in paragraph (a)(iii) 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 the spouse’s birthday in the year of the spouse’s death, or, if the distributions are being made over the period described in paragraph (a) (iii) below, over such period. (iii) If there is no designated first generation Beneficiary or if this paragraph (a)(iii) is applicable under paragraphs (a)(i) or (a)(ii) above, the remaining interest will be distributed over the Participant’s remaining life expectancy determined in the year of the Participant’s death. (iv) The amount to be distributed each year under this Section 10.4(a), beginning with the calendar year following the calendar year of the Participant’s death, is the quotient obtained by dividing the value of the Participant’s Account as of the end of the preceding year by the remaining life expectancy specified above. Life expectancy is determined using the Single Life Table in Treasury Regulation Section 1.401(a)(9)-9(Q&A-1). If distributions are being made to a surviving spouse as the sole designated first generation 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 first generation Beneficiary’s or Participant’s age in the year as specified in paragraphs (a)(i), (a) (ii) or (a)(iii) above, and reduced by one for each subsequent calendar year.

REQUIRED DISTRIBUTION UPON DEATH. (a) Death On or After Required Beginning Date: If the Participant dies on or after the Required Beginning Date, the remaining remain- ing portion of the Participant’s Account shall be distributed to the Participant’s first generation Beneficiary at least as rapidly as under Sections 10.4 paragraph (a)(ia)(1), (a)(iia)(2) or (a) (iiia)(3): (i1) If the designated first generation Beneficiary is someone some- one other than the Participant’s surviving spouse, the remaining interest will be distributed over the remaining life expectancy of the designated first generation BeneficiaryBene- ficiary, with such life expectancy determined using the first generation Beneficiary’s age as of his birthday in the year following the year of the Participant’s death, or over the period described in paragraph (a)(3) below if longer. (ii2) If the Participant’s sole designated first generation Beneficiary is the Participant’s surviving spouse, the remaining interest will be distributed over such spouse’s life or over the period described in paragraph (a)(iiia)(3) 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 the spouse’s birthday in the year of the spouse’s death, or, if the distributions are being made over the period described in paragraph (a) (iiia)(3) below, over such period. (iii3) If there is no designated first generation Beneficiary or if this paragraph (a)(iiia)(3) is applicable under paragraphs paragraph (a)(ia) (1) or (a)(iia)(2) above, the remaining interest will be distributed distrib- uted over the Participant’s remaining life expectancy determined in the year of the Participant’s death. (iv4) The amount to be distributed each year under this Section 10.4(a10.3(a), beginning with the calendar year following follow- ing the calendar year of the Participant’s death, is the quotient obtained by dividing the value of the ParticipantPartici- pant’s Account as of the end of the preceding year by the remaining life expectancy specified above. Life expectancy is determined using the Single Life Table in Treasury Regulation Section 1.401(a)(9)-9(Q&A-1). If distributions are being made to a surviving spouse as the sole designated first generation 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 first generation Beneficiary’s or Participant’s age in the year as specified in paragraphs paragraph (a)(ia)(1), (a) (iia)(2) or (a)(iiia)(3) above, and reduced by one for each subsequent calendar year.