-8-
or exercisable to the extent that it would cause my
retained annuity interest (or my wife’s interest, if
any) hereunder to fail to qualify as a “qualified
annuity interest” under Code section 2702(b)(1) and
Treasury Regulation Section 25.2702-3(b) and (d).
E. Revocable Contingent Spousal Annuity Trust.
If, and only if, I die before the Annuity Term ends, my
wife survives me, and I have not exercised my right to
revoke all or a portion of my wife’s interest under
this agreement, then to the extent that I have not
revoked such interest, Trustee shall hold the remaining
trust assets in a marital trust for my wife. Trustee
shall administer that marital trust for the lifetime of
my wife as follows:
1. Trustee shall pay to my wife, or if she
is deceased, to her estate, as an annuitant, the
remaining Annuity which would have been paid to me if I
had survived. The amount, time of payment, source of
payment (except the provision for adding accumulated
income to principal), proration, and adjustments of the
Annuity will be the same as the provisions for payment
of “qualified annuity interest” (defined in paragraph D
of this Article Five) to me if I had been living.
Trustee shall not make any distributions from the
marital trust to or for the benefit of anyone other
than my wife while my wife is living.
2. During the Annuity Term, the Trustee also
shall pay from the date of my death all the income that
exceeds the Annuity to or for the benefit of my wife at
least annually. After the Annuity Term, Trustee shall
pay the income to or for the benefit of my wife for her
lifetime at least annually.
* * * * * * *
G. If I Die During Trust Term and My Wife Does Not
Receive Annuity. If, and only if, I die before the
Annuity Term ends, and either I have revoked in whole
or in part my wife’s interest under this agreement or
my wife does not survive me, then the trust assets
subject to such revocation or the remaining trust
assets in the event my wife does not survive me, as the
case may be, are to be distributed to or in trust for
such appointees as I shall appoint by my Will. In the
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