bny mellon investment servicing trust company … · ira contribution limit is increased by $1,000...

BNY MELLON INVESTMENT SERVICING TRUST COMPANY

Supplement to the Traditional and Roth Individual Retirement Account (IRA) Disclosure Statement for Tax Year 2019

DEADLINE EXTENSION FOR 2018 CONTRIBUTIONS TO A TRADITIONAL OR ROTH IRA:

Most eligible individuals will have until Monday, April 15, 2019, to make contributions to a traditional IRA or Roth IRA for tax year 2018. Residents of Maine and Massachusetts will have until Wednesday, April 17, 2019, to make a 2018 contribution due to the observance of Patriots’ Day which falls on April 15, 2019, and Emancipation Day which falls on April 16, 2019. For more information on this extension, please refer to the Internal Revenue Service (IRS) web site www.irs.gov. 2019 IRA CONTRIBUTION LIMITS FOR TRADITIONAL AND ROTH IRA:

The maximum allowable contribution to your IRAs (deductible, non-deductible, and Roth) for the tax year is the lesser of (a) $6,000 or (b) 100% of your compensation or earnings from self-employment. For those who have attained or will attain the age of 50 before the close of the taxable year, the annual IRA contribution limit is increased by $1,000 (total of $7,000 for 2019). Any contribution made to your IRA will be treated as a current year contribution recorded in the year it is received, unless the contribution is made between January 1 and April 15, 2019, and you have identified the contribution as a prior year contribution. Please consult IRS Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for eligibility requirements and contribution restrictions. 2019 TRADITIONAL IRA INCOME TAX DEDUCTION:

Your contribution to a traditional IRA may be deductible on your federal income tax return. However, there is a phase-out of the IRA deduction if you are an active participant in an employer-sponsored retirement plan. The IRA deduction is reduced proportionately as modified adjusted gross income increases. If you are not an active participant in an employer-sponsored retirement plan, there is a phase-out of the IRA deduction if you’re married based on whether or not your spouse is covered by a workplace retirement plan. Please consult IRS Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for assistance in calculating your deductible contribution as it pertains to individual income and employer-sponsored retirement plan circumstances. Your contribution in excess of the permitted deduction will be considered a non-deductible contribution. DEDUCTION LIMIT - Effect of Modified AGI on Deduction – Covered by a Retirement Plan at Work

TAX YEAR 2019 Full deduction if modified AGI is:

Partial deduction if modified AGI is:

No deduction if modified AGI is:

Single Filers or Head of Household $64,000 or less More than $64,000

but less than $74,000 $74,000 or more

Married - filing jointly or Qualified Widow(er) $103,000 or less More than $103,000


Married - filing separately N/A Less than $10,000 $10,000 or more

DEDUCTION LIMIT - Effect of Modified AGI on Deduction – You are NOT Covered by a Retirement Plan at Work (Spousal Coverage Considered)



No deduction if AGI is:

Married - filing jointly - spouse covered at work

$193,000 or less More than $193,000

but less than$203,000 $203,000 or more

Married - filing separately - spouse covered at work

N/A Less than $10,000 $10,000 or more

2019 ROTH IRA CONTRIBUTION ELIGIBILITY:

For 2019, your Roth IRA contribution limit is reduced (phased out) based on your modified AGI as follows:

TAX YEAR 2019 Full contribution if modified AGI is:

Partial contribution if modified AGI is:

No contribution if AGI is:

Married - filing jointly or Qualified Widow(er) Less than $193,000 At least $193,000


Married - filing separately N/A less than $10,000 $10,000 or more

Single, Head of Household or Married - filing separately and you did not live with your spouse at any time during the year

Less than $122,000 At least $122,000


These limits may be adjusted from time to time by the IRS; please refer to Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for current year limits.

http://www.irs.gov/

BNY MELLON INVESTMENT SERVICING TRUST COMPANY

Supplement to the Traditional and Roth Individual Retirement Account (IRA)

Disclosure Statement for Tax Year 2018

DEADLINE EXTENSION FOR 2017 CONTRIBUTIONS TO A TRADITIONAL OR ROTH IRA:

Most eligible individuals will have until Tuesday, April 17, 2018, to make contributions to a traditional IRA or Roth IRA for 2017. This extension is due to April 15, 2018, falling on a Sunday and the observance of Emancipation Day, a legal holiday in the District of Columbia, on Monday April 16, 2018. For more information on this extension, please refer to IRS News Release IR-2017-201. 2018 IRA CONTRIBUTION LIMITS FOR TRADITIONAL AND ROTH IRA:

The maximum allowable contribution to your IRAs (deductible, non-deductible, and Roth) for the tax year is the lesser of (a) $5,500 or (b) 100% of your compensation or earnings from self-employment. For those who have attained or will attain the age of 50 before the close of the taxable year, the annual IRA contribution limit is increased by $1,000 (total of $6,500 for 2018). Any contribution made to your IRA will be treated as a current year contribution recorded in the year it is received, unless the contribution is made between January 1 and April 17, 2018, and you have identified the contribution as a prior year contribution. Please read the Combined IRA Disclosure Statement carefully or consult IRS Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for eligibility requirements and contribution restrictions. 2018 TRADITIONAL IRA INCOME TAX DEDUCTION:

Your contribution to a traditional IRA may be deductible on your federal income tax return. However, there is a phase-out of the IRA deduction if you are an active participant in an employer-sponsored retirement plan. The IRA deduction is reduced proportionately as modified adjusted gross income increases. If you are not an active participant in an employer-sponsored retirement plan, there is a phase-out of the IRA deduction if you’re married based on whether or not your spouse is covered by a workplace retirement plan. Please consult IRS Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for assistance in calculating your deductible contribution as it pertains to individual income and employer-sponsored retirement plan circumstances. Your contribution in excess of the permitted deduction will be considered a non-deductible contribution. DEDUCTION LIMIT - Effect of Modified AGI on Deduction – Covered by a Retirement Plan at Work



No deduction if modified AGI is:

Single Filers or Head of Household $63,000 or less More than $63,000


Married - filing jointly or Qualified Widow(er) $101,000 or less More than $101,000


Married - filing separately N/A Less than $10,000 $10,000 or more

DEDUCTION LIMIT - Effect of Modified AGI on Deduction – You are NOT Covered by a Retirement Plan at Work (Spousal Coverage Considered)



No deduction if AGI is:

Married - filing jointly - spouse covered at work

$189,000 or less More than $189,000

but less than$199,000 $199,000 or more

Married - filing separately - spouse covered at work

N/A Less than $10,000 $10,000 or more

2018 ROTH IRA CONTRIBUTION ELIGIBILITY:

For 2018, your Roth IRA contribution limit is reduced (phased out) based on your modified AGI as follows:

TAX YEAR 2018 Full contribution if modified AGI is:

Partial contribution if modified AGI is:

No contribution if AGI is:

Married - filing jointly or Qualified Widow(er) Less than $189,000 At least $189,000


Married - filing separately N/A less than $10,000 $10,000 or more

Single, Head of Household or Married - filing separately and you did not live with your spouse at any time during the year

Less than $120,000 At least $120,000


These limits may be adjusted from time to time by the Internal Revenue Service (“IRS”); please refer to Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for current year limits.

RECHARACTERIZATION OF ROTH IRA CONVERSION IS NOW PROHIBITED (Correction Process):

Effective January 1, 2018, a Roth IRA conversion cannot be recharacterized back to a traditional IRA, SEP or SIMPLE IRA. In addition, amounts contributed to an employer sponsored qualified plan that were converted to a Roth IRA cannot be recharacterized back to the employer plan. A Roth IRA conversion is now deemed an irrevocable election and cannot be “reversed” or “corrected”. Prior to January 1, 2018, you could correct a Roth IRA conversion made in error by recharacterizing the conversion back to a traditional IRA, SEP or SIMPLE IRA. The recharacterization had to take place prior to the due date, including extensions, for filing your federal income tax return for the tax year in which the conversion was originally made. According to the IRS, you can recharacterize a Roth IRA conversion that took place in tax year 2017, provided that the recharacterization is completed by October 15, 2018. For more information, please visit the IRS web site www.irs.gov using the search term “IRA FAQs – Recharacterization of Roth Rollovers and Conversions”. PENALTY TAX WAIVER FOR MEDICAL EXPENSES:

Your receipt or use of any portion of your account (excluding any amount representing a return of non-deducted contributions) before you attain age 59½ is considered an early or premature distribution. The premature distribution is subject to a penalty tax equal to 10% of the distribution amount unless an exception applies. One such exception is a distribution used to pay medical expenses in excess of a certain percentage of your adjusted gross income. Effective immediately, the threshold for medical expenses has been reduced from 10% to 7.5% for tax years 2017 and 2018. QUALIFIED HURRICANE DISTRIBUTIONS:

If you sustained an economic loss due to Hurricanes Harvey, Irma or Maria, and your primary residence was located in one of the federally declared disaster areas, you may be eligible to request a qualified hurricane distribution from your traditional, Roth, SEP or SIMPLE IRA. A qualified hurricane distribution cannot not exceed $100,000 (in aggregate across all retirement accounts), and is subject to certain deadlines. Temporary tax relief includes:

• If you are under age 59½, the distribution will not be subject to a 10% early withdrawal penalty.

• The distribution may be repaid over a period of three years in the form of a rollover without being subject to the one rollover per 365 days rule or the 60-day rollover requirement.

• Amounts required to be included in taxable income may be spread over a three year period, if you so elect.

• Amounts withdrawn for a home purchase that was subsequently cancelled due to the hurricane can be recontributed without penalty.

For more information on qualified hurricane distributions and other tax relief provisions applicable to individuals affected by Hurricanes Harvey, Irma and Maria, please visit the IRS web site www.irs.gov using the search term “Tax Relief in Disaster Situations”. 2016 PRESIDENTIALLY DECLARED DISASTER AREAS – SPECIAL RELIEF:

If you sustained an economic loss due to a presidentially declared disaster (including severe storms, flooding, tornados, straight line winds, wildfires, and such), and your primary residence was located in one of the federally declared disaster areas, you may be eligible to request a qualified disaster distribution from your traditional, Roth, SEP or SIMPLE IRA. A qualified disaster distribution cannot not exceed $100,000 (in aggregate across all retirement accounts), and is subject to certain deadlines. Temporary tax relief includes:

• If you are under age 59½, the distribution will not be subject to a 10% early withdrawal penalty.

• The distribution may be repaid over a period of three years in the form of a rollover without being subject to the one rollover per 365 days rule or the 60-day rollover requirement.

• Amounts required to be included in taxable income may be spread over a three year period, if you so elect.

• The distribution must be made on or after January 1, 2016, and before January 1, 2018. LATE ROLLOVER CONTRIBUTIONS:

The Internal Revenue Service (IRS) will permit you to deposit a late rollover contribution (exceeding the 60-day time limit), if you meet certain qualifications. All late rollover contribution deposits must be accompanied by a late rollover self-certification form. It is important to know that self-certification does not constitute an automatic waiver of the 60-day time limit. The IRS may, during the course of an examination, determine that your contribution does not meet the requirements for a waiver. If it is determined that you do not meet the requirements, you could be subject to additional income, income taxes and penalties. The IRA custodian is required to report all late rollover contribution deposits on IRS Form 5498. For more information and a list of qualifying events, please visit the Internal Revenue Service’s web site www.irs.gov using the search term “Revenue Procedure 2016-47”.

http://www.irs.gov/

http://www.irs.gov/

http://www.irs.gov/

INDIVIDUALRETIREMENTACCOUNT(IRA)

TRADITIONALIRA

SEPIRA

ROTHIRA

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TABLEOFCONTENTS

COMBINEDDISCLOSURESTATEMENT 3

TRADITIONALINDIVIDUALRETIREMENTACCOUNTDISCLOSURE 6

ROTHINDIVIDUALRETIREMENTACCOUNTDISCLOSURE 8

TRADITIONALIRACUSTODIALACCOUNTAGREEMENT 12

ROTHIRACUSTODIALACCOUNTAGREEMENT 16

Referencestothe"Custodian"meanBNYMellonInvestmentServicingTrustCompany.

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TRADITIONALandROTHINDIVIDUALRETIREMENTACCOUNT(IRA)COMBINEDDISCLOSURESTATEMENT

The following information is thedisclosure statement requiredby federal tax regulations.You should read thisDisclosureStatement, theCustodialAccountAgreementandtheprospectusesforthemutualfundsinwhichyourIndividualRetirementAccount(“IRA”)contributionswillbeinvested.TherulesgoverningIRAs are subject to change. You should consult Internal Revenue Service (“IRS”) Publication 590 or the IRS web site www.irs.gov for updated rules andrequirements.

IMPORTANTINFORMATIONABOUTU.S.GOVERNMENTREQUIREMENTSTHATMAYAFFECTYOURACCOUNT

BNYMellonInvestmentServicingTrustCompany(“BNYMellon”,“we”,or“us”),providescustodialandadministrativeservicesforyourretirementorsavingsaccount.Asaresultofthisrole,personswhoopenaretirementorsavingsaccountareconsidered‘customers’ofBNYMellon(“you”or“your”).

TohelptheU.S.Governmentfightthefundingofterrorismandmoneylaunderingactivities,FederallawrequiresBNYMellon,asafinancialinstitution,toobtain,verify,andrecordinformationthatidentifieseachpersonwhoopensanaccount.Allaccountsweopenareopenedonaconditionalbasis–conditionedonourabilitytoverifyyouridentityinaccordancewithFederallaw.

Whenestablishinganaccount,youarerequiredtoprovideyourfulllegalname,address,governmentissuedidentificationnumber(e.g.socialsecuritynumber),dateofbirth,andotherinformationwithinyouraccount-openingapplicationthatwillallowustoidentifyyou.Wemayalsorequestacopyofyourdriver’slicenseorotheridentifyingdocumentsandmayconsultthird-partydatabasestohelpverifyyouridentity.Iftheaccountyouareopeningwillberegisteredinthenameofabeneficiary,trust,orestateorcharity,wemayrequireadditionalidentifyingdocumentation.

Ifyoufailtoprovideanyrequestedidentifyinginformationordocumentationwhenopeningyouraccount,yournewaccountapplicationmayberejected.

Ifweopenyouraccount,andyousubsequentlyfailtoprovideallidentificationmaterialswerequestorifwearesubsequentlyunabletoadequatelyverifyyouridentityasrequiredbyU.S.Governmentregulations,wereservetherighttotakeanyoneormoreofthefollowingactions:

Ø WemayplacerestrictionsonyouraccountwhichblockallpurchasetransactionsandwemayplaceadditionalrestrictionsonyouraccountblockingothertransactionalactivitiesifwedeterminesuchadditionalrestrictionsareappropriateunderFederallaworregulation.

Ø Wemaycloseyouraccount,sell(i.e.,"liquidate")theassetsinyouraccountintheprevailingmarketatthetime,andsendyouacheckrepresentingthecashproceedsofyouraccount.ThisdistributionwillbereportedtotheInternalRevenueServiceandmayresultinunfavorableconsequencestoyouunderFederalandstatetaxlaws.

YouMayIncurLosses.Despitebeingopenedasaconditionalaccount,youraccountwillbeinvestedasyouinstructandyouwillbesubjecttoallmarketrisksduringtheperiodbetweenaccountopeningandanyliquidationnecessitatedbyyourfailuretofurnishrequestedidentifyinginformationorbyaninabilitytoadequatelyverifyyouridentity.Youmayalsobesubjecttoadditionalmarketrisksiftheadditionaltransactionalrestrictionsdiscussedaboveareplacedonyouraccount.Inaddition,theclosingofyouraccountmaysubjectyoutofeesandchargesimposedbyasponsor,issuer,depositoryorotherpersonorentityassociatedwithoneormoreoftheassetsinwhichyouareinvested,andanysaleschargesyoumayhavepaidinconnectionwithyourpurchaseswillnotberefunded.

YouAssumeAllResponsibilityForTheseLosses.BNYMellonexpresslydisclaimsanyresponsibilityorliabilityforlossesyouincurasaresultofyourfailuretofurnishidentificationmaterialswerequest,includinginvestmentlossesandanyotherlossordamage(includingbutnotlimitedtolostopportunitiesandadversetaxconsequences).Ifyouproceedwiththeaccountopeningprocess,youacceptallrisksoflossresultingfromanyfailureofyourstofurnishtheidentificationmaterialswerequestorfromasubsequentinabilitytoadequatelyverifyyouridentityinaccordancewithFederallaworregulation.

STATEUNCLAIMEDPROPERTYLAWDISCLOSURETheassetsinyourcustodialaccountaresubjecttostateunclaimedpropertylawswhichprovidethatifnoactivityoccursinyouraccountwithinthetimeperiodspecifiedbytheparticularstatelaw,yourassetsmustbetransferredtotheappropriatestate.Wearerequiredbylawtoadviseyouthatyourassetsmaybetransferredtoanappropriatestateincompliancewiththesestatelaws.

REVOCATIONOFYOURIRA

YouhavetherighttorevokeyourIRAandreceivetheentireamountofyour initial investmentbynotifyingtheCustodian inwritingwithinseven(7)daysofestablishingyour IRA (accountopendate). Ifyourevokeyour IRAwithinsevendays,youareentitled toa returnof theentireamountcontributed,withoutadjustmentforsuch itemsassalescommissions,administrativeexpenses,orfluctuations inmarketvalue. Ifyoudecidetorevokeyour IRA,noticeshouldbedeliveredormailedtotheaddresslistedintheapplicationinstructions.Thisnoticeshouldbesignedbyyouandincludethefollowing:1. Thedate.

2. AstatementthatyouelecttorevokeyourIRA.3. YourIRAaccountnumber.4. ThedateyourIRAwasestablished.5. Yoursignatureandyournameprintedortyped.

Mailednoticewillbedeemedgivenonthedatethatitispostmarked,ifitisproperlyaddressedanddepositedeitherintheUnitedStatesmail,firstclasspostageprepaid,orwithanIRSapprovedovernightservice.Thismeansthatwhenyoumailyournotice,itmustbepostmarkedonorbeforetheseventhdayafteryourIRAwasopened.ArevokedIRAwillbereportedtotheIRSandtheDepositoronIRSForms1099-Rand5498.

CONTRIBUTIONS

For2017,themaximumallowablecontributiontoyourindividualretirementaccounts(deductible,non-deductible,andRoth)isthelesserof(a)$5,500or(b)100%ofyourcompensationorearningsfromself-employment.Ifyouaresubmittingaprioryearcontribution,thelimitwassetat$5,500.

Age50orabovecatch-upcontributions–Forthosewhohaveattainedtheageof50beforethecloseofthetaxableyear,theannualIRAcontributionlimitisincreasedby$1,000.

Fortaxyearsafter2017,theabovelimitsmaybesubjecttoInternalRevenueService(“IRS”)cost-of-livingadjustments,ifany.PleasereadtheTraditionalandRoth Individual Retirement Account (IRA) Combined Disclosure Statement carefully or consult IRS Publication 590 or a qualified tax professional formoreinformationabouteligibilityrequirementsandcontributionrestrictions.

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MakinganIRAcontributiononbehalfofyourspouse-Ifyouhaveearnedcompensation,aremarriedandfileajointfederalincometaxreturn,youmaymakeanIRAcontributiononbehalfofyourworkingornonworkingspouse.ThetotalannualcontributionlimitforbothIRAsmaynotexceedthelesserofthecombinedcompensationofbothspousesortheannualIRAcontributionlimitsassetforthbytheIRS.ContributionsmadeonbehalfofaspousemustbemadetoaseparateIRAaccountestablishedbyyourspouse.

AnycontributionmadetoyourIRAwillbetreatedasacontributionfortheyearitisreceived,unlessthecontributionismadebetweenJanuary1andtheApril15thpostmarkdeadlineandyouhaveidentifiedthecontributionasaprioryearcontribution.

Ø TRADITIONALIRACONTRIBUTIONRESTRICTION-YoucannotmakecontributionstoyourtraditionalIRAforanytaxableyearafteryouattainage70½.

Ø ROTHIRACONTRIBUTION-ContributionscancontinuetobemadetoaRothIRAafteryouattainage70½aslongastherequirementsofearnedincomearemet.

DESCRIPTIONOFAVAILABLEOPTIONSFORYOURCONTRIBUTIONS

Theassetsinyourcustodialaccountwillbeinvestedinaccordancewithinstructionscommunicatedbyyou(orfollowingyourdeath,byyourbeneficiary)orbyyour(orfollowingyourdeath,yourbeneficiary’s)authorizedagent.AccountcontributionsmaybeinvestedinsharesofoneormoremutualfundsmadeavailabletoyouinconnectionwiththisIRAaccount(the“MutualFunds”),orinotherinvestmentsthatareeligibleforinvestmentundersection408(a)oftheInternalRevenueCodeandthatareacceptabletotheCustodianasinvestmentsundertheIndividualRetirementAccount(IRA)ApplicationandAdoptionAgreement.

MutualFundInvestments:AninvestmentinanyoftheMutualFundsinvolvesinvestmentrisks,includingpossiblelossofprincipal.Inaddition,growthinthevalueofyourMutualFundsisneitherguaranteednorprotectedduetothecharacteristicsofamutualfundinvestment.DetailedinformationaboutthesharesofeachMutualFundavailabletoyouforinvestmentofyourIRAcontributionsmustbefurnishedtoyouintheformofaprospectus.Themethodforcomputingandallocatingannualearningsissetforthintheprospectus.(Seethesectionofeachprospectusentitled"Dividends.")TheprospectusalsosetsforththecostsandexpensesyouincurbybeinginvestedinaparticularMutualFund;suchcostsandexpensesreduceanyyieldyoumightobtainfromtheMutualFunds.(Seethesectionoftheprospectusentitled"ExpenseTable"andthesectionsreferredtotherein.)Forfurtherinformationregardingexpenses,earnings,anddistributionsofaparticularMutualFund,seethatMutualFund'sfinancialstatements,prospectusand/orstatementofadditionalinformation.

InArticleVIII,Section23oftheTRADITIONALIRACUSTODIALACCOUNTAGREEMENTandArticleIX,Section23oftheROTHIRACUSTODIALACCOUNTAGREEMENT("Sections23"),bothofwhichconstituteanimportantpartoftheAPPLICATIONandADOPTIONAGREEMENT,youauthorizetheCustodiantoactinitsdiscretionforyourbenefitinsituationswhereassetsinyourcustodialaccountareliquidatedandtheCustodianhasnotreceivedinstructionsfromyouinatimelymannerregardingthedispositionofsuchproceedsorwheretheonly instructionsreceivedfromyoucannotreasonablyorpracticablybecarriedout.Forexample,aMutualFundmaytakeactionswhichresultinthatMutualFund,orinyourinvestmentinthatMutualFund,beinginvoluntarilyliquidated.TheMutualFundortheprospectus for thatMutualFundmaydirect that theproceedsof the liquidationbeplaced inanassetnotavailable toyouunder theAPPLICATIONandADOPTIONAGREEMENTorprovidesolelythatthecashorotherpropertyresultingfromtheliquidationbedistributeddirectlytoshareholders.IftheCustodiandoesnotreceivetimelyinstructionsfromyouthatitcanreasonablyandpracticablycarryout(forexample,in-kindpropertydistributedbytheMutualFundmaynotbeapermissibleassetforyourIRA),theninbothSections23youauthorizetheCustodiantoexerciseitsdiscretioninactingonyourbehalf,includingtakingsuchactionsasplacingtheproceedsinamoneymarketmutualfund,anFDIC-insuredbankaccountormoneymarketaccount,distributingtheproceedstoyouorholdingtheproceedsuninvested.Otherexamplesmayexistinvolvingdifferentliquidationcircumstancesanddifferentrestrictionsorlimitationsregardingthedispositionoftheproceeds.TheCustodianexpresslydisclaimsanyliabilityforanyactiontakenoromittedundertheauthorityofeitherSection23,unlesstheInternalRevenueCodeorregulationsimplementingtheInternalRevenueCoderequireotherwise.

BENEFICIARYDESIGNATIONSPerStirpesBeneficiaryDesignations:TheCustodianshallacceptascompleteandaccurateallwritteninstructionsprovidedingoodorderbytheestate/executorwithregardtotheidentificationofthebeneficiariesandtheallocationsthereto.

Intheeventofyourdeath,thebalanceofyourcustodialaccountshallbepaidtotheprimarybeneficiarieswhosurviveyouinequalshares(orinthespecifiedshares,ifindicated).Ifnoneoftheprimarybeneficiariessurviveyou,thebalanceofyouraccountshallbepaidtothecontingentbeneficiarieswhosurviveyouinequalshares(orinthespecifiedshares,ifindicated).Ifyounamemultipleprimarybeneficiariesandabeneficiarydoesnotsurviveyou,suchinterestisterminatedandthatpercentagewillbedividedproportionatelyamongtheremainingprimarybeneficiaries.Similarly,unlessyouhavespecifiedotherwise, ifnoprimarybeneficiary survivesyouandyouhavenamedmultiplecontingentbeneficiariesandabeneficiarydoesnot surviveyou, such interest is terminatedand thatpercentagewillbedividedproportionatelyamongtheremainingcontingentbeneficiaries.

YoumaychangeyourbeneficiariesatanytimebygivingwrittennoticetotheCustodian.Ifyoudonotdesignateabeneficiary,orifalldesignatedbeneficiariespredeceaseyou,yoursurvivingspousewillbecomethebeneficiaryofyourIRA.Ifyoudonothaveasurvivingspouseatthetimeofyourdeath,yourestatewillbecomethebeneficiaryofyourIRA.Ifatrustisdesignatedasabeneficiary,youmustprovideboththedateofthetrustandthename(s)ofthetrustee(s).

SPOUSALBENEFICIARYDESIGNATIONINTHEEVENTOFDIVORCE

In the event of a divorce or legal separation, the Custodianwill not automatically remove the former spouse as the designated beneficiarywithout courtappointment.Ifyourlifecircumstanceshavechanged,wesuggestyousubmitanIRABeneficiaryDesignationForm.ThecurrentbeneficiarydesignationonfilewiththeCustodianwillbedeemedvalidandinfullforceuntilsuchdateastheCustodianreceivesasignedIRABeneficiaryDesignationForm,ingoodorder.

SPOUSALPROVISIONSFORSAMESEXCOUPLES

Inaccordancewith federal regulations,wherean individual is lawfullymarriedtoanother individual, regardlessofsex,both individualsshallbetreatedasa“spouse”forfederaltaxpurposes.Individualsinacivilunionordomesticpartnershipwillnotbetreatedasspousesforfederaltaxpurposes.

TAXREFUNDDIRECTDEPOSITIRACONTRIBUTIONS

TaxpayerswhoqualifyforataxrefundmayelecttodirectlydeposittheirrefundintotheirIRAaccount.TheamountoftherefunddepositedtoyourIRAcannotexceedannualIRAlimitsassetforthbytheInternalRevenueService.YoumustcontacttheCustodianinadvanceofcompletingIRSForm8888toobtaintheproperroutinginstructions.Alltaxrefundcontributionswillberecordedascurrentyearcontributionsfortheyearreceived.

HEALTHSAVINGSACCOUNT(“HSA”)FUNDINGDISTRIBUTIONYouareallowedaone-time,tax-freetransferfromanIRA(otherthanaSEPorSIMPLEIRA)tousetowardyourannualHealthSavingsAccount(“HSA”)contribution.Eligibleindividualsmaymakeanirrevocableone-time,tax-free“qualifiedHSAfundingdistribution”fromanIRAandmoveitdirectlyintoanHSA,subjecttostrictrequirements.TheHSAfundingdistributionmustbedirectlytransferredfromtheIRAcustodianortrusteetotheHSAcustodianortrustee.Theamountofthe

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transfercannotexceedthemaximumHSAcontributionlimitfortheyearthattheamountistransferred.Thedepositedamountiscountedtowardtheindividual’stotalHSAannualcontributionlimit.

NON-SPOUSEBENEFICIARIESOFEMPLOYERPLANS

Eligiblenon-spousebeneficiarydistributionsfromanemployer’sretirementplancanbedirectlyrolledoverintoabeneficiary/inheritedIRA.Toaccomplishthedirect rollover, theplanadministratormustdistribute thebenefit payable to the trusteeor custodianandmail it directly to the receiving institution. If thedistributionispaiddirectlytothenon-spousebeneficiary,arolloverwillnotbepermitted.

Thebeneficiary/inheritedIRAaccountmustberegisteredinboththenon-spousebeneficiary’snameandthedecedent’sname.Anon-spousebeneficiarymayincludeatrustbeneficiarythatmeetsthespecial“lookthrough”rulesundertheIRSregulations.Nonqualifiedtrusts,estatesorcharitiesarenoteligibleforthedirectrolloverprovision.

QUALIFIEDRESERVISTDISTRIBUTIONS

EarlydistributionspaidtocertainmilitaryreservistscalledtoactivedutyafterSeptember11,2001(“QualifiedReservistDistributions”)areeligibletoberepaidtoanIRAwithinatwo-yearperiodaftertheendofactiveduty.ThisprovisionappliestodistributionsmadeafterSeptember11,2001.Repaymentscannotexceedthe amount of yourQualified Reservist Distributions. Repayment cannot bemade after the date that is two years after your active duty period ends. Therepaymentsarenottreatedasrollovers.

SAVER’STAXCREDIT

TheSaver’sTaxCreditrewardslowtomoderateincometaxpayerswhocontributetowardtheirretirementsavingswithanon-refundabledollarfordollartaxcreditthatcouldreducetheirfederalincometaxliability.Eligibilitytoparticipateintheprogramisbasedonyourfilingstatusandadjustedgrossincome.FormoreinformationabouttheSaver’sCredit,checktheIRSwebsitewww.irs.govundertheterm“RetirementSavingsContributionsCredit”or“Saver’sCredit”.

QUALIFIEDCHARITABLEDISTRIBUTIONS(“QCDs”)

CertaintaxpayersmaytransferfundsfromtheirIRAtoaneligiblecharitableorganization.ToqualifytheIRAownermustbeage70½orolder.QCDsmaybemadefromatraditionalIRAoraRothIRAandmaybeusedtosatisfyaparticipant’srequiredminimumdistribution(“RMD”)forthetaxyear.Themaximumannualamountthatmaybedistributedeachyearis$100,000regardlessofhowmanyIRAstheparticipantowns.Formarriedindividualsfilingajointreturn,thelimitis$100,000 for each individual IRA owner. More information about QCDs can be found in IRS Publication 590-B Distributions from Individual RetirementArrangements(IRAs).

PROHIBITEDTRANSACTIONS

Ifyouoryourbeneficiaryengages inanyprohibitedtransactionasdescribedintheInternalRevenueCode(IRC)Section4975(c)(suchasanysale,exchange,borrowing,orleasingofanypropertybetweenyouandyourIRA;oranyotherinterferencewiththeindependentstatusoftheaccount),theaccountwillloseitsexemptionfromtaxandbetreatedashavingbeendistributedtoyouinthetaxyearinwhichyouoryourbeneficiaryengagedintheprohibitedtransaction.Thedistributionmayalsobesubjecttoadditionalpenaltiesincludinga10%penaltytaxifyouhavenotattainedage59½.SeePublication590forfurtherinstructionsoncalculatingtaxablegain,reportingamountsinincomeandprohibitedtransactionpenaltytaxes.Inaddition,ifyouoryourbeneficiaryuse(pledge)alloranypartofyourIRAassecurityforaloan,thentheportionsopledgedwillbetreatedasifdistributedtoyou,andwillbetaxabletoyou.Yourdistributionmayalsobesubjecttoa10%penaltytaxifyouhavenotattainedage59½duringtheyearwhichyoumakesuchapledge.

FEESANDCHARGES

ThereisanannualcustodialmaintenancefeeforeachIRAaccountassetforthontheApplication.TheCustodianmayalsochargeaservicefeeinconnectionwithanydistributionfromyourIRA.

ESTATETAX

Amountspayabletoyourspouse,asyournamedbeneficiary,mayqualifyforamaritaltaxdeductionforfederalestatetaxpurposes.

INCOMETAXWITHHOLDING

TheCustodianisrequiredtowithholdfederalincometaxfromanytaxabledistributionfromyourIRAattherateof10%unlessyouchoosenottohavetaxwithheld.YoumayelectoutofwithholdingbyadvisingtheCustodianinwriting,priortothedistribution,thatyoudonotwanttaxwithheldfromthedistribution.ThiselectionmaybemadeonanydistributionrequestformprovidedbytheCustodian.Ifyoudonotelectoutoftaxwithholding,youmaydirecttheCustodiantowithholdanadditionalamountoftaxinexcessof10%.

StateincometaxwithholdingmayalsoapplytodistributionsfromyourIRAaccountwhenfederalincometaxiswithheld.Pleasecontactyourtaxadvisororstatetaxauthorityforinformationaboutyourstate’sincometaxwithholdingrequirements.

ADDITIONALINFORMATION

Distributionsunder$10willnotbereportedonIRSForm1099-R(asallowedunderIRSregulations).However,youmuststillreportthesedistributionstotheIRSonyourForm1040(aswellasotherformsthatmayberequiredtoproperlyfileyourtaxreturn).

Formoredetailedinformation,youmayobtainIRSPublication590,IndividualRetirementArrangements(IRAs)fromanydistrictofficeoftheInternalRevenueServiceorbycalling1-800-TAX-FORM.

FILINGWITHTHEIRS

ContributionstoyourIRAmustbereportedonyourtaxreturn(Form1040or1040A,andForm8606fornondeductibletraditional IRAcontributions)forthetaxableyearcontributed.Ifyouaresubjecttoanyofthefederalpenaltytaxesduetoexcesscontributions,prematuredistributions,ormissedrequiredminimumdistributions,youmustfileIRSForm5329.

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TRADITIONALINDIVIDUALRETIREMENTACCOUNTDISCLOSUREYouhaveopenedanIndividualRetirementAccount(IRA),whichisatraditionalorSEPIRAfortheexclusivebenefitofyouandyourbeneficiaries,createdbyawritteninstrument(theCustodialAccountAgreement).ThefollowingrequirementsapplytoyourIRA:

1. Contributions,transfersandrolloversmaybemadeonlyin"cash"bycheck,draft,orotherformacceptabletotheCustodian.2. TheCustodianmustbeabank,trustcompany,savingsandloanassociation,creditunionorapersonwhoisapprovedtoactinsuchcapacitybytheSecretary

oftheTreasury.3. Nopartmaybeinvestedinlifeinsurancecontracts.4. Yourinterestmustbenonforfeitable.5. Theassetsofthecustodialaccountmaynotbemixedwithotherpropertyexceptinacommoninvestmentfund.

6. YoumustbeginreceivingdistributionsfromyouraccountnolaterthanApril1oftheyearfollowingtheyearinwhichyouattainage70½;anddistributionsmustbecompletedoveraperiodthatisnotlongerthanthejointlifeexpectancyofyouandyourbeneficiary.

TRADITIONALIRAELIGIBILITY

You are permitted tomake a regular contribution to your traditional IRA for any taxable year prior to the taxable year you attain age 70½, if you receivecompensationforsuchtaxableyear.Compensationincludessalaries,wages,tips,commissions,bonuses,alimony,royaltiesfromcreativeeffortsand“earnedincome” in the case of self-employment. The amountwhich is deductible depends uponwhether or not you are an active participant in a retirement planmaintainedbyyouremployer;yourmodifiedadjustedgrossincome;yourmaritalstatus;andyourtaxfilingstatus.

TRADITIONALIRAINCOMETAXDEDUCTIONYourcontributiontoatraditionalIRAmaybedeductibleonyourfederalincometaxreturn.However,thereisaphase-outoftheIRAdeductionifyouareanactiveparticipantinanemployer-sponsoredretirementplan.TheIRAdeductionisreducedproportionatelyasadjustedgrossincomeincreases.Adjustedgrossincomelevelsaresubjecttochangeeachyear.Pleaseconsult IRSPublication590forcalculatingyourdeductiblecontributionas itpertainsto individual incomeandemployer-sponsoredretirementplancircumstances.Yourcontributionsinexcessofthepermitteddeductionwillbeconsiderednon-deductiblecontributions.AdeductibleIRAcontributioncanbemadetoyourspouse’sIRAevenifyouareanactiveparticipantinanemployer-sponsoredretirementplan, ifyourjointadjustedgrossincomeforthetaxyeardoesnotexceedthelimitsassetforthbytheIRS.TheIRAdeductionisreducedproportionallyasyourjointadjustedgrossincomeincreases.

TRADITIONALIRATAXATIONANDROLLOVERS

TheincomeofyourIRAisnottaxeduntilthemoneyisdistributedtoyou.Distributionsaretaxableasordinaryincomewhenreceived,excepttheamountofanydistributionrepresentingnon-deductedcontributionsorthereturnofanexcesscontributionisnottaxed.

IRAROLLOVERS-IMPORTANTCHANGESTOTHERULESGOVERNINGINDIRECT(60-DAY)ROLLOVERSEffective January1, 2015, there is a new restrictionon indirect (60-day) IRA-to-IRA rollovers.An IRAparticipant is allowedonlyone rollover across all IRAs(Traditional,Rollover,Roth,SEP,SARSEPandSIMPLEIRAs)inaggregatethatataxpayerownsinany12-monthor365-dayperiod.Asanalternative,aparticipantcanmakeanunlimitednumberoftrustee-to-trusteetransferswheretheproceedsaredelivereddirectlytothereceivingfinancialinstitution,successorcustodianortrustee.FormoreinformationpleasevisittheInternalRevenueService’swebsitewww.irs.govusingthesearchterm“IRAOne-Rollover-Per-YearRule”.Youmustcontactthereceivinginstitutiontoinitiateatrustee-to-trusteetransfer.Ingeneral,youmay“rollover”adistributionfromanotherIRA,aneligiblerolloverdistributionfromyouremployer’squalifiedplan,ordistributionsfromcertaintaxdeferredannuitiesoraccounts.Ifadistributionisrolledover(i.e.depositedinyourIRAwithin60calendardays),theamountrolledoverisnottaxable.TheIRSstrictlyenforcesthe60-daytimelimit.Youmayrolloveraportionofadistributioninwhichcasetheremainderwillbesubjecttotax.TheIRSrequires20%ofanydistributionfromyouremployer’squalifiedplantobewithheldforfederalincometaxunlessyourdistributionistransferred(asadirectrollover)toaneligibleretirementplansuchasanotherqualifiedplanorIRA.

LATEROLLOVERCONTRIBUTIONS:

TheInternalRevenueService(IRS)willpermityoutodepositalaterollovercontribution(exceedingthe60-daytimelimit),ifyoumeetcertainqualifications.Alllaterollovercontributiondepositsmustbeaccompaniedbyalaterolloverself-certificationform.Itisimportanttoknowthatself-certificationdoesnotconstituteanautomaticwaiverofthe60-daytimelimit.TheIRSmay,duringthecourseofanexamination,determinethatyourcontributiondoesnotmeettherequirementsforawaiver.Ifitisdeterminedthatyoudonotmeettherequirementsyoucouldbesubjecttoadditionalincome,incometaxesandpenalties.TheIRAcustodianisrequiredtoreportalllaterollovercontributiondepositsonIRSForm5498.FormoreinformationandalistofqualifyingeventspleasevisittheInternalRevenueService’swebsitewww.irs.govusingthesearchterm“RevenueProcedure2016-47”.

Note:Therulesregardingtax-freerolloversarecomplexandsubjecttofrequentchange;youshouldconsultaprofessionaltaxadvisorifyouareconsideringarollover.

CONVERTINGTOAROTHIRA

Youmayalso“convert”alloraportionofyourtraditional,SEPorSIMPLE(aftertherequiredtwoyearholdingperiod)IRAtoaRothIRA.Youmaynotconvertanyportionofarequiredminimumdistribution(RMD).Aconversionisatypeofdistributionandisnottax-free.Distributionsaretaxableasordinaryincomewhenreceived,exceptanyamountrepresentingthereturnofnon-deductedcontributionsisnottaxed.The10%penaltytaxonearlydistributionsdoesnotapplytoconversionamountsunlessanamountattributabletoaconversionisdistributedfromtheRothIRApriortofiveyearsfromthedateoftheconversion.YourtraditionalIRAmaybeconvertedtoaRothIRAbymeansofanin-housedirecttransfer(withinthesamefinancialinstitution)orasadirecttransferbetweentwodifferentfinancialinstitutions.

AconversionisreportedasadistributionfromyourtraditionalIRA(IRSForm1099-R)andaconversioncontributiontoyourRothIRA(IRSForm5498).TherulesregardingconversionstoRothIRAsarecomplexandyoushouldconsultaprofessionaltaxadvisorpriortoaconversion.

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RECHARACTERIZATIONOFAROTHIRACONVERSION(CorrectionProcess)

Youmaycorrecta conversionmade inerrorby recharacterizing theconversion.Aconversion is recharacterizedby transferring theconversionamountplusallocableearningsbacktoatraditionalIRA.Thecorrectionmusttakeplacepriortotheduedate,includingextensions,forfilingyourfederalincometaxreturnforthetaxyearinwhichtheconversionwasoriginallymade.ArecharacterizedconversionmaybeconvertedbacktoaRothIRA,howeverlimitationsmayapply.Assets that have been recharacterized back to a traditional IRA cannot be reconverted to a Roth IRA in the same tax year or within thirty days of therecharacterization.ArecharacterizedconversionisreportedasadistributionfromtheRothIRA(IRSForm1099-R)andarecharacterizationcontributiontothetraditionalIRA(IRSForm5498)forthetaxyearinwhichtherecharacterizationoccurs.Therulesregardingrecharacterizationarecomplexandyoushouldconsultaprofessionaltaxadvisorpriortoanyrecharacterizationorreconversion.ArecharacterizationformisavailablefromtheCustodianandshouldbeusedforallrecharacterizationrequests.

RECHARACTERIZINGTRADITIONALIRACONTRIBUTIONS

Ifyouareeligible tocontributetoaRoth IRA,allorpartofacontributionyoumaketoyour traditional IRA,alongwithallocableearningsor losses,mayberecharacterized and treated as ifmade to your Roth IRA on the date the contributionwas originallymade to your traditional IRA. Recharacterization of acontributionisirrevocableandmustbecompletedonorbeforetheduedate,includingextensions,forfilingyourfederalincometaxreturnforthetaxyearforwhichthecontributionwasoriginallymade.

ArecharacterizedcontributionisreportedasadistributionfromthefirstIRA(IRSForm1099-R)andarecharacterizationcontributiontothesecondIRA(IRSForm5498)forthetaxyearinwhichtherecharacterizationoccurs.Therulesregardingrecharacterizationarecomplexandyoushouldconsultaprofessionaltaxadvisorpriortoanyrecharacterization.ArecharacterizationformisavailablefromtheCustodianandshouldbeusedforallrecharacterizationrequests.

EXCESSCONTRIBUTIONS

AmountscontributedtoyourtraditionalIRAinexcessoftheallowablelimitwillbesubjecttoanon-deductibleexcisetaxof6%foreachyearuntiltheexcessisusedup(asanallowablecontributioninasubsequentyear)orreturnedtoyou.The6%excisetaxwillnotapplyiftheexcesscontributionandearningsallocabletoitaredistributedbyyourfederalincometaxreturnduedate,includingextensions.Ifsuchadistributionismade,onlytheearningsareconsideredtaxableincomeforthetaxyearinwhichtheexcesswascontributedtotheIRA.Thereturnofearningsmayalsobesubjecttothe10%penaltytaxonearlydistributionsdiscussedinthesectiontitled“EarlyDistributionsfromaTraditionalIRA”.IfyoumakeanexcesscontributiontoyourIRAanditisnotcorrectedonatimelybasis,anexcisetaxof6%isimposedontheexcessamount.Thistaxwillapplyeachyeartoanypartoralloftheexcessthatremainsinyouraccount.

Earningswillberemovedwiththeexcesscontribution,ifcorrectedbeforeyourfederalincometaxreturnduedate(includingextensions),pursuanttoInternalRevenueCodeSection408(d)(4)andIRSPublication590.TheIRSmayimposea10%earlydistributionpenaltyontheearningsifyouareunderage59½.AnIRSForm1099-Rwillbeissuedfortheyearinwhichthedistributionoccurred,nottheyearinwhichtheexcesscontributionwasmade.Ifyouaresubjecttoafederalpenaltytaxduetoanexcesscontribution,youmustfileIRSForm5329.

Forthepurposeoftheexcesscontribution,wewillcalculatethenetincomeattributabletothatcontribution(NetIncomeAttributableor"NIA")usingthemethodprovidedforintheIRSFinalRegulationsforEarningsCalculationforReturnedorRecharacterizedContributions.ThismethodcalculatestheNIAbasedontheactualearningsandlossesoftheIRAduringthetimeitheldtheexcesscontribution.PleasenotethatanegativeNIAispermittedand,ifapplicable,willbedeductedfromtheamountoftheexcesscontribution.

Excesscontributions(plusorminustheNIA)thataredistributedbyyourfederalincometaxreturnduedate(includingextensions)willbeconsideredcorrected,thusavoidinganexcesscontributionpenalty.

EARLYDISTRIBUTIONSFROMATRADITIONALIRA

Yourreceiptoruseofanyportionofyouraccount(excludinganyamountrepresentingareturnofnon-deductedcontributions)beforeyouattainage59½isconsideredanearlyorprematuredistribution.Thedistributionissubjecttoapenaltytaxequalto10%ofthedistributionunlessoneofthefollowingexceptionsappliestothedistribution:1. duetoyourdeath,or

2. madebecauseyouaredisabled,or

3. usedspecificallyfordeductiblemedicalexpenseswhichexceed7.5%ofyouradjustedgrossincome,or

4. usedforhealthinsurancecostduetoyourunemployment,or

5. usedforhighereducationexpensesdefinedinsection529(e)(3)oftheInternalRevenueCode,or

6. usedtowardtheexpensesofafirsttimehomepurchaseuptoalifetimelimitof$10,000,or

7. partofascheduledseriesofsubstantiallyequalperiodicpaymentsoveryourlife,oroverthejointlifeexpectancyofyouandabeneficiary.Ifyourequestadistributionintheformofaseriesofsubstantiallyequalperiodicpayments,andyoumodifythepaymentsbefore5yearshaveelapsedandbeforeattainingage59½,thepenaltytaxwillapplyretroactivelytotheyearpaymentsbeganthroughtheyearofsuchmodification,or

8. requiredbecauseofanIRSlevy,or

9. thedistributionisaQualifiedReservistDistribution.

The10%penaltytaxisinadditiontoanyfederalincometaxthatisowedatdistribution.Formoreinformationonthe10%penaltytaxandtheexceptionslistedabove,consultIRSPublication590.Ifyouaresubjecttoafederalpenaltytaxduetoaprematuredistribution,youmustfileIRSForm5329.

REQUIREDDISTRIBUTIONSFROMATRADITIONALIRA

YouarerequiredtobeginreceivingminimumdistributionsfromyourIRAbyyourrequiredbeginningdate(April1oftheyearfollowingtheyearyouattainage70½).Theyearyouattainage70½isreferredtoasyour"firstdistributioncalendaryear".Yourrequiredminimumdistributionforeachyear,beginningwiththecalendaryearyouattainage70½,isgenerallybaseduponthevalueofyouraccountattheendoftheprioryeardividedbythefactorforyourage(derivedfromtheIRSUniformLifetimeDistributionPeriodTable).Thistableassumesyouhaveadesignatedspousebeneficiaryexactly10yearsyoungerthanyou.However,ifyourspouseisyoursolebeneficiaryandismorethan10yearsyoungerthanyou,yourrequiredminimumdistributionforeachyearisbaseduponthejointlifeexpectanciesofyouandyourspouse.Theaccountbalancethatisusedtodetermineeachyear'srequiredminimumdistributionamountistheprioryearendfairmarketvalue(valueasofDecember31st),adjustedforoutstandingrollovers,transfersandrecharacterizations(thatrelatetoaconversionorfailedconversionmadeintheprioryear).YouareresponsiblefornotifyingtheCustodianofanyoutstandingamounts.

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Iftheamountdistributedduringataxableyearislessthantheminimumamountrequiredtobedistributed,youwillbesubjecttoapenaltytaxequalto50%ofthedifferencebetweentheamountdistributedandtheamountrequiredtobedistributed.Youareresponsibleformonitoringthisschedulefromyeartoyeartomakesurethatyouarewithdrawingtherequiredminimumamount.Ifyouaresubjecttoafederalpenaltytaxduetoamissedrequiredminimumdistribution,youmustfileIRSForm5329.

However,nopaymentwillbemadefromthisIRAuntilyouprovidetheCustodianwithaproperdistributionrequestacceptablebytheCustodian.Uponreceiptofsuchdistributionrequest,youmayswitchtoajointlifeexpectancyindeterminingtherequiredminimumdistributionifyourspousewasyoursolebeneficiary,asoftheJanuary1stofthecalendaryearthatcontainsyourrequiredbeginningdate,andsuchspouseismorethan10yearsyoungerthanyou.TherequiredminimumdistributionfortheseconddistributioncalendaryearandforeachsubsequentdistributioncalendaryearmustbemadebyDecember31ofeachsuchyear.ArequiredminimumdistributionelectionformisavailablefromtheCustodian.

TRADITIONALIRADISTRIBUTIONSDUETODEATH

If,priortoyourdeath,youhavenotstartedtotakeyourrequireddistributionsandyouproperlydesignatedabeneficiary(ies),theentirevalueofyourIRAmustbedistributedtoyourbeneficiarieswithinfiveyearsafteryourdeath,unlessthedesignatedbeneficiaryelectsinwriting,nolaterthanSeptember30thoftheyearfollowing theyear inwhichyoudie, to takedistributionsover their lifeexpectancy.Thesedistributionsmustcommenceno later thanDecember31stof thecalendaryearfollowingthecalendaryearofyourdeath.However,ifyourspouseisyoursolebeneficiary,thesedistributionsarenotrequiredtocommenceuntiltheDecember31stofthecalendaryearyouwouldhaveattainedage70½,ifthatdateislaterthantherequiredcommencementdateintheprevioussentence.Ifyoudiebeforeyourrequiredbeginningdateandyoudonothaveadesignatedbeneficiary,thebalanceinyourIRAmustbedistributednolaterthantheDecember31stofthecalendaryearthatcontainsthefifthanniversaryofyourdeath.

Ifyoudieonorafteryourrequiredbeginningdateandyouhaveadesignatedbeneficiary,thebalanceinyourIRAwillbedistributedtoyourbeneficiaryoverthebeneficiary'ssinglelifeexpectancy.ThesedistributionsmustcommencenolaterthanDecember31stofthecalendaryearfollowingthecalendaryearofyourdeath.Ifyoudieonorafteryourrequiredbeginningdateandyoudonothaveadesignatedbeneficiary,thebalanceinyourIRAmustbedistributedoveraperiodthatdoesnotexceedyourremainingsinglelifeexpectancydeterminedintheyearofyourdeath.However,therequiredminimumdistributionforthecalendaryearthatcontainsthedateofyourdeathisstillrequiredtobedistributed.Suchamountisdeterminedasifyouwerestillalivethroughoutthatyear.Ifyourspouseisyoursolebeneficiary,yourspousemayelecttotreatyourIRAastheirownIRA,whetheryoudiebeforeorafteryourrequiredbeginningdate.IfyoudieafteryourrequiredbeginningdateandyourspouseelectstotreatyourIRAashisorherownIRA,anyrequiredminimumthathasnotbeendistributedfortheyearofyourdeathmuststillbedistributedtoyoursurvivingspouseandthentheremainingbalancecanbetreatedasyourspouse'sownIRA.Afteryourdeath,yourdesignatedbeneficiarymaynamea subsequentbeneficiary.Any subsequentbeneficiariesmust takedistributions at leastas frequently as theoriginaldesignatedbeneficiary. If youdonotproperly designate abeneficiary, or all designatedbeneficiaries havepredeceased you, your spouse shall become thebeneficiaryor,ifnosurvivingspouseorunmarried,thedistributionwillbemadetoyourestate.

TRADITIONALIRA-IRSAPPROVEDFORM

YourtraditionalIRAistheInternalRevenueService'smodelcustodialaccountcontainedinIRSForm5305-A.CertainadditionshavebeenmadeinArticleVIIIoftheform.Byfollowingtheform,yourtraditionalIRAmeetstherequirementsoftheInternalRevenueCode.However,theIRShasnotendorsedthemeritsoftheinvestmentsallowedundertheIRA.Form5305-AmayalsobeusedbyqualifyingemployersinconjunctionwithForm5305-SEPtoestablishaSimplifiedEmployeePensionplan(SEP)onbehalfofemployees.IfyourIRAispartofaSEP,detailsregardingtheplanshouldalsobeprovidedbyyouremployer.IRSForm5305-AcannotbeusedinconnectionwithSIMPLEorRothIRAsorCoverdellEducationSavingsAccounts.

ROTHINDIVIDUALRETIREMENTACCOUNTDISCLOSUREYouhaveopenedaRothIndividualRetirementAccount(RothIRA),whichisanaccountfortheexclusivebenefitofyouandyourbeneficiaries,createdbyawritteninstrument(theCustodialAccountAgreement).ThefollowingrequirementsapplytoyourRothIRA:

1. Contributions,transfersandrolloversmaybemadeonlyin"cash"bycheck,draft,orotherformacceptabletotheCustodian.

2. TheCustodianmustbeabank,trustcompany,savingsandloanassociation,creditunionorapersonwhoisapprovedtoactinsuchcapacitybytheSecretaryoftheTreasury.

3. Nopartmaybeinvestedinlifeinsurancecontracts.4. Yourinterestmustbenonforfeitable.5. Theassetsofthecustodialaccountmaynotbemixedwithotherpropertyexceptinacommoninvestmentfund.6. Thereisnoagelimitoncontributionsaslongasyouhaveearnedincome.7. Youradjustedgrossincomemustbewithintheeligibilitylimits.8. Therearenomandatorywithdrawalsduringyourlifetime.

ROTHIRAELIGIBILITYYouarepermittedtomakearegularcontributiontoyourRothIRAforanytaxableyearifyoureceivecompensationforsuchtaxableyear.Compensationincludessalaries,wages,tips,commissions,bonuses,alimony,royaltiesfromcreativeeffortsand“earnedincome”inthecaseofself-employment.ContributionscancontinuetobemadetoaRothIRAafteryouattainage70½aslongastherequirementsofearnedincomearemet.

Thereisaphase-outofeligibilitytomakeaRothIRAcontributionifyouradjustedgrossincomeisbetweencertainlevels.TheselimitsmaybeadjustedfromtimetotimebytheInternalRevenueService.

ROTHIRAINCOMETAXDEDUCTION

YourcontributiontoaRothIRAisnotdeductibleonyourfederalincometaxreturn.

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IRAROLLOVERS-IMPORTANTCHANGESTOTHERULESGOVERNINGINDIRECT(60-DAY)ROLLOVERS

Effective January1, 2015, there is a new restrictionon indirect (60-day) IRA-to-IRA rollovers.An IRAparticipant is allowedonlyone rollover across all IRAs(Traditional,Rollover,Roth,SEP,SARSEPandSIMPLEIRAs)inaggregatethatataxpayerownsinany12-monthor365-dayperiod.Asanalternative,aparticipantcanmakeanunlimitednumberoftrustee-to-trusteetransferswheretheproceedsaredelivereddirectlytothereceivingfinancialinstitution,successorcustodianortrustee.FormoreinformationpleasevisittheInternalRevenueService’swebsitewww.irs.govusingthesearchterm“IRAOne-Rollover-Per-YearRule”.Youmustcontactthereceivinginstitutiontoinitiateatrustee-to-trusteetransfer.Ingeneral,youmay“rollover”adistributionfromanotherIRA,aneligiblerolloverdistributionfromyouremployer’squalifiedplan,ordistributionsfromcertaintaxdeferredannuitiesoraccounts.Ifadistributionisrolledover(i.e.depositedinyourIRAwithin60calendardays),theamountrolledoverisnottaxable.TheIRSstrictlyenforcesthe60-daytimelimit.Youmayrolloveraportionofadistributioninwhichcasetheremainderwillbesubjecttotax.TheIRSrequires20%ofanydistributionfromyouremployer’squalifiedplantobewithheldforfederalincometaxunlessyourdistributionistransferred(asadirectrollover)toaneligibleretirementplansuchasanotherqualifiedplanorIRA.

LATEROLLOVERCONTRIBUTIONS:

TheInternalRevenueService(IRS)willpermityoutodepositalaterollovercontribution(exceedingthe60-daytimelimit),ifyoumeetcertainqualifications.Alllaterollovercontributiondepositsmustbeaccompaniedbyalaterolloverself-certificationform.Itisimportanttoknowthatself-certificationdoesnotconstituteanautomaticwaiverofthe60-daytimelimit.TheIRSmay,duringthecourseofanexamination,determinethatyourcontributiondoesnotmeettherequirementsforawaiver.Ifitisdeterminedthatyoudonotmeettherequirementsyoucouldbesubjecttoadditionalincome,incometaxesandpenalties.TheIRAcustodianisrequiredtoreportalllaterollovercontributiondepositsonIRSForm5498.FormoreinformationandalistofqualifyingeventspleasevisittheInternalRevenueService’swebsitewww.irs.govusingthesearchterm“RevenueProcedure2016-47”.

Note:Therulesregardingtax-freerolloversarecomplexandsubjecttofrequentchange;youshouldconsultaprofessionaltaxadvisorifyouareconsideringarollover.

ROLLOVERFROMADESIGNATEDROTHCONTRIBUTIONACCOUNTUNDERANEMPLOYER-SPONSOREDPLANINTOAROTHIRA

Amountsattributabletoaparticipant’sdesignatedRothcontributionaccountunderanemployer’s401(k)planor403(b)planareeligibletorolloverintoaRothIRAaseitheradirectrolloverora60-dayrollover.OncetheamountisrolledovertoaRothIRAitmaynotberolledbacktoanemployer’splan.TherulesregardingdesignatedRothrolloverstoRothIRAsarecomplexandyoushouldconsultataxadvisorpriortoinitiatingadesignatedRothrollover.

MILITARYDEATHGRATUITIESANDSERVICEMEMBERSGROUPLIFEINSURANCE(SGLI)PAYMENTROLLOVERS

IfyoureceivedamilitarydeathgratuityorSGLIpayment,youmaycontributeallorpartoftheamountreceivedtoyourRothIRAortoaCoverdellEducationSavingsAccount(CoverdellESA).Thecontributionistreatedasarollover,exceptthatthistypeofrolloverdoesnotcountwhenfiguringtheannuallimitonthenumberofrolloversallowed.TheamountyoucancontributetoaRothIRAorCoverdellESAunderthisprovisioncannotexceedthetotalamountofsuchpaymentsthatyoureceivedbecauseofthedeathofapersonreducedbyanypartoftheamountsoreceivedthatyouhavealreadycontributedtoaRothIRAorCoverdellESA.

ROTHCONVERSIONSYoumayconvertatraditional,SEP,orSIMPLE(aftertherequiredtwoyearholdingperiod)IRAintoaRothIRA.Youmaynotconvertanyportionofarequiredminimumdistribution(RMD).IfadistributionisconvertedfromatraditionalIRAandisdepositedtoyourRothIRAwithin60calendardays,theamountoftheconversiondistributionwillbetaxedasordinaryincome,exceptanyamountwhichrepresentsthereturnofnon-deductiblecontributionsisnottaxed.TheIRSenforcesthe60-daytimelimitstrictly.The10%penaltyforearlydistributionswillnotapplytotheamountconvertedifheldinyourRothIRAforatleastfiveyearsandcertainothercriteriaaremet.Seethesectiontitled“TaxationofRothIRADistributions”.YourtraditionalIRAmaybeconvertedtoaRothIRAbymeansofanin-housedirecttransfer(withinthesamefinancialinstitution)orasadirecttransferbetweentwodifferentfinancialinstitutions.

AconversionisreportedasadistributionfromyourtraditionalIRA(IRSForm1099-R)andaconversioncontributiontoyourRothIRA(IRSForm5498).TherulesregardingconversionstoRothIRAsarecomplexandyoushouldconsultaprofessionaltaxadvisorpriortoaconversion.

EMPLOYER-SPONSOREDPLANCONVERSIONSTOAROTHIRA

Conversionrolloversfromemployer-sponsoredplans,suchasqualifiedplansand403(b)plans,toaRothIRAarepermitted.

RECHARACTERIZATIONOFACONVERSION(CorrectionProcess)

Youmaycorrectaconversionmadeinerrorbyrecharacterizingtheconversion.Aconversionisrecharacterizedbymovingtheconversionamount,plusallocableearnings,backtoatraditionalIRA.Thecorrectionmusttakeplacepriortotheduedate,includingextensions,forfilingyourfederalincometaxreturnforthetaxyearinwhichtheconversionwasoriginallymade.ArecharacterizedconversionmaybeconvertedbacktoaRothIRA,howeverlimitationsmayapply.AssetsthathavebeenrecharacterizedbacktoatraditionalIRAcannotbereconvertedtoaRothIRAinthesametaxyearorwithinthirtydaysoftherecharacterization.

ArecharacterizedconversionisreportedasadistributionfromtheRothIRA(IRSForm1099-R)andarecharacterizationcontributiontothetraditionalIRA(IRSForm5498)forthetaxyearinwhichtherecharacterizationoccurs.Therulesregardingrecharacterizationarecomplexandyoushouldconsultaprofessionaltaxadvisorpriortoanyrecharacterizationorreconversion.ArecharacterizationformisavailablefromtheCustodianandshouldbeusedforallrecharacterizationorreconversionrequests.

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RECHARACTERIZINGAROTHIRACONTRIBUTION

AllorpartofacontributionyoumaketoyourRoth IRA,alongwithanyallocableearningsor losses,mayberecharacterizedandtreatedas ifmadetoyourtraditional IRA on the date the contribution was originallymade to your Roth IRA. All or part of a contribution youmake to your traditional IRAmay berecharacterized and treated as ifmade to your Roth IRA on the date the contributionwas originallymade to your traditional IRA. Recharacterization of acontributionisirrevocableandmustbecompletedonorbeforetheduedate,includingextensions,forfilingyourfederalincometaxreturnforthetaxyearforwhichthecontributionwasoriginallymade.

ArecharacterizedcontributionisreportedasadistributionfromthefirstIRA(IRSForm1099-R)andarecharacterizationcontributiontothesecondIRA(IRSForm5498)forthetaxyearinwhichtherecharacterizationoccurs.

EXCESSCONTRIBUTIONS

AmountscontributedtoyourRothIRAinexcessoftheallowablelimitwillbesubjecttoanon-deductibleexcisetaxof6%foreachyearuntiltheexcessisusedup(asanallowablecontributioninasubsequentyear)orreturnedtoyou.The6%excisetaxonexcesscontributionswillnotapplyiftheexcesscontributionandearningsallocableto itaredistributedbyyourfederal incometaxreturnduedate, includingextensions. Ifsuchadistribution ismade,onlytheearningsareconsideredtaxableincomeforthetaxyearinwhichtheexcesswascontributedtotheIRA.Thereturnofearningsmayalsobesubjecttothe10%penaltytaxonearlydistributions.AnIRSForm1099-Rwillbeissuedfortheyearinwhichthedistributionoccurred,nottheyearinwhichtheexcesscontributionwasmade.ConsultIRSPublication590formoreinformationpertainingtoexcesscontributions.IfyoumakeanexcesscontributiontoyourRothIRAanditisnotcorrectedonatimelybasis,anexcisetaxof6%isimposedontheexcessamount.Thistaxwillapplyeachyeartoanypartoralloftheexcessthatremainsinyouraccount.

Earningswillberemovedwiththeexcesscontributionifcorrectedbeforeyourfederalincometaxreturnduedate(includingextensions),pursuanttoInternalRevenueCodeSection408(d)(4)andIRSPublication590.TheIRSmayimposea10%earlydistributionpenaltyontheearningsifyouareunderage59½.Ifyouaresubjecttoafederalpenaltytaxduetoanexcesscontribution,youmustfileIRSForm5329.

Forthepurposeoftheexcesscontribution,wewillcalculatethenetincomeattributabletothatcontribution(NetIncomeAttributableor"NIA")usingthemethodprovidedforintheIRSFinalRegulationsforEarningsCalculationforReturnedorRecharacterizedContributions.ThismethodcalculatestheNIAbasedontheactualearningsandlossesoftheRothIRAduringthetimeitheldtheexcesscontribution.PleasenotethatanegativeNIAispermittedand,ifapplicable,willbedeductedfromtheamountoftheexcesscontribution.

Excesscontributions(plusorminustheNIA)thataredistributedbyyourfederalincometaxreturnduedate(plusextensions)willbeconsideredcorrected,thusavoidinganexcesscontributionpenalty.

TAXATIONOFROTHIRADISTRIBUTIONS

Anydistribution,orportionofanydistribution,whichconsistsofthereturnofcontributionsyoumadetoyourRothIRAisnotsubjecttofederalincometax.Forfederalincometaxpurposes,contributionsarepresumedtobewithdrawnfirst,thenconversioncontributions,thenearnings.

QualifiedDistribution-TheearningsonyourcontributionswillnotbesubjecttofederalincometaxorpenaltyiftheassetsbeingwithdrawnhavebeeninyourRothIRAforatleastfive(5)years(fromthefirsttaxableyearinwhichyourinitialcontribution,includingrolloverorconversioncontribution,wasmadetotheRothIRA)inadditiontoanyoneofthefollowing:

1. youhaveattainedage59½,or2. usedtowardtheexpensesofafirsttimehomepurchaseuptoalifetimelimitof$10,000,or

3. madebecauseyouaredisabled,or4. duetoyourdeath.Non-QualifiedDistribution-Theearningsportionofadistributionmadepriortotheendofthefive-yearholdingperiod,regardlessofthereason,isconsideredanon-qualifieddistributionandissubjecttoordinaryincometax.Theearningsmayalsobesubjecttoa10%penaltytaxifyouareunderage59½,unlessanearlydistributionexceptionapplies.Thedistributionofamountsattributabletoconversioncontributions(priortofiveyearsfromthetaxyearofconversion)maybesubjecttoa10%penaltytaxifyouareunderage59½,unlessanearlydistributionexceptionapplies.Exceptionstothe10%penaltytaxonearlydistributionsaredescribedinthesectiontitled“EarlyDistributionsfromaRothIRA”.Ifyouaresubjecttoafederalpenaltytaxduetoaprematuredistribution,youmustfileIRSForm5329.

EARLYDISTRIBUTIONSFROMAROTHIRA

Theearningsportionofdistributionsmadepriortotheendofthefive-yearholdingperiod,orwhichfailtomeetthecriteriaasoutlinedin“TaxationofRothIRADistributions”,aresubjecttoordinaryincometaxes.Theearningsportionofthedistributionisalsosubjecttothe10%penaltytaxonearlydistributionsunlessoneofthefollowingexceptionsappliestothedistribution:

1. youhaveattainedage59½,or2. duetoyourdeath,or3. madebecauseyouaredisabled,or

4. usedspecificallyfordeductiblemedicalexpenseswhichexceed7.5%ofyouradjustedgrossincome,or5. usedforhealthinsurancecostduetoyourunemployment,or6. usedforhighereducationexpensesdefinedinsection529(e)(3)oftheInternalRevenueCode,or7. usedtowardtheexpensesofafirsttimehomepurchaseuptoalifetimelimitof$10,000,or8. partofascheduledseriesofsubstantiallyequalpaymentsoveryourlife,oroverthejointlifeexpectancyofyouandabeneficiary.Ifyourequestadistribution

intheformofaseriesofsubstantiallyequalpayments,andyoumodifythepaymentsbefore5yearshaveelapsedandbeforeattainingage59½,thepenaltytaxwillapplyretroactivelytotheyearpaymentsbeganthroughtheyearofsuchmodification,or

9. requiredbecauseofanIRSlevy,or10. thedistributionisaQualifiedReservistDistribution.The10%penaltytaxisinadditiontoanyfederalincometaxthatisowedatdistribution.Formoreinformationonthe10%penaltytaxandtheexceptionslistedabove,consultIRSPublication590.

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ROTHIRAREQUIREDDISTRIBUTIONS

YouarenotrequiredtotakedistributionsfromyourRothIRAduringyourlifetime.

ROTHIRADISTRIBUTIONDUETODEATH

Ifyouhaveproperlydesignatedabeneficiary(ies),theentirevalueofyourRothIRAmustbedistributedtoyourbeneficiarieswithinfiveyearsafteryourdeath,unlessthedesignatedbeneficiaryelectsinwriting,nolaterthanSeptember30thoftheyearfollowingtheyearinwhichyoudie,totakedistributionsovertheirlifeexpectancy.ThesedistributionsmustcommencenolaterthanDecember31stofthecalendaryearfollowingthecalendaryearofyourdeath.Yourdesignatedbeneficiarymaynameasubsequentbeneficiary.Anysubsequentbeneficiariesmusttakedistributionsatleastasfrequentlyastheoriginaldesignatedbeneficiary.

Ifyoudonotproperlydesignateabeneficiary,oralldesignatedbeneficiarieshavepredeceasedyou,yourspouseshallbecomethebeneficiaryor,ifnosurvivingspouseorunmarried,thedistributionwillbemadetoyourestate.Ifyourdesignatedbeneficiaryisyourspouse,yourspousemayelecttotreatyourRothIRAastheirown.

ROTHIRA-IRSAPPROVEDFORMYourRothIRAistheInternalRevenueService'smodelcustodialaccountcontainedinIRSForm5305-RA.CertainadditionshavebeenmadeinArticleIXoftheform.Byfollowingtheform,yourRothIRAmeetstherequirementsoftheInternalRevenueCode.However,theIRShasnotendorsedthemeritsoftheinvestmentsallowedundertheRothIRA.IRSForm5305-RAcannotbeusedinconnectionwith,SEP,SIMPLEortraditionalIRAsorCoverdellEducationSavingsAccounts.

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TRADITIONALIRACUSTODIALACCOUNTAGREEMENT(Undersection408(a)oftheInternalRevenueCode-Form5305-A(RevisedMarch2002))Form5305-Aisamodelcustodialaccountagreementthatmeetstherequirementsofsection408(a)andhasbeenpre-approvedbytheIRS.TheDepositorwhosenameappearsintheaccompanyingApplicationisestablishinganIndividualRetirementAccount(“IRA”)undersection408(a)toprovideforhisorherretirementandforthesupportofhisorherbeneficiariesafterdeath.TheaccountmustbecreatedintheUnitedStatesfortheexclusivebenefitoftheDepositororhisorherbeneficiaries.

TheCustodianhasgiventheDepositorthedisclosurestatementrequiredunderRegulationssection1.408-6.

TheDepositorandtheCustodianmakethefollowingagreement:

ARTICLEI

Exceptinthecaseofarollovercontributiondescribedinsection402(c),403(a)(4),403(b)(8),408(d)(3),or457(e)(16),anemployercontributiontoasimplifiedemployeepensionplanasdescribedinsection408(k),orarecharacterizedcontributiondescribedinsection408A(d)(6),theCustodianwillacceptonlycashcontributionsupto$3,000peryearfortaxyears2002through2004.Thatcontributionlimitisincreasedto$4,000fortaxyears2005through2007and$5,000for2008andthereafter.Forindividualswhohavereachedtheageof50beforethecloseofthetaxyear,thecontributionlimitisincreasedto$3,500peryearfortaxyears2002through2004,$4,500for2005,$5,000for2006and2007,and$6,000for2008andthereafter.Fortaxyearsafter2008,theabovelimitswillbeincreasedtoreflectacost-of-livingadjustment,ifany.

ARTICLEII

TheDepositor’sinterestinthebalanceinthecustodialaccountisnonforfeitable.

ARTICLEIII

1. Nopartofthecustodialfundsmaybe investedin life insurancecontracts,normaytheassetsofthecustodialaccountbecommingledwithotherpropertyexceptinacommontrustfundorcommoninvestmentfund(withinthemeaningofsection408(a)(5)).

2. Nopartofthecustodialaccountfundsmaybeinvestedincollectibles(withinthemeaningofsection408(m))exceptasotherwisepermittedbysection408(m)(3),whichprovidesanexceptionforcertaingold,silverandplatinumcoins,coinsissuedunderthelawsofanystateandcertainbullion.

ARTICLEIV

1. Notwithstandinganyprovisionofthisagreementtothecontrary,thedistributionoftheDepositor’sinterestinthecustodialaccountshallbemadeinaccordancewiththefollowingrequirementsandshallotherwisecomplywithsection408(a)(6)andtheregulationsthereunder,theprovisionsofwhicharehereinincorporatedbyreference.

2. TheDepositor’sentireinterestinthecustodialaccountmustbe,orbegintobe,distributednotlaterthantheDepositor’srequiredbeginningdate,April1followingthecalendaryear inwhichtheDepositorreachesage70½.Bythatdate,theDepositormayelect, inamanneracceptabletotheCustodian,tohavethebalanceinthecustodialaccountdistributedin:

(a) Asinglesumor(b) PaymentsoveraperiodnotlongerthanthelifeoftheDepositororthejointlivesoftheDepositorandhisorherdesignatedbeneficiary.

3. IftheDepositordiesbeforehisorherentireinterestisdistributedtohimorher,theremaininginterestwillbedistributedasfollows:

(a) IftheDepositordiesonoraftertherequiredbeginningdateand:

i. thedesignatedbeneficiaryistheDepositor’ssurvivingspouse,theremaininginterestwillbedistributedoverthesurvivingspouse’slifeexpectancyasdeterminedeachyearuntil such spouse’sdeath,orover theperiod inparagraph (a)(iii)below if longer.Any interestremainingafterthespouse’sdeathwillbedistributedoversuchspouse’sremaininglifeexpectancyasdeterminedintheyearofthespouse’sdeathandreducedby1foreachsubsequentyear,or,ifdistributionsarebeingmadeovertheperiodinparagraph(a)(iii)below,oversuchperiod.

ii. the designated beneficiary is not theDepositor’s surviving spouse, the remaining interestwill be distributed over the beneficiary’sremaininglifeexpectancyasdeterminedintheyearfollowingthedeathoftheDepositorandreducedby1foreachsubsequentyear,orovertheperiodinparagraph(a)(iii)belowiflonger.

iii. there isnodesignatedbeneficiary; the remaining interestwillbedistributedover the remaining lifeexpectancyof theDepositorasdeterminedintheyearoftheDepositor’sdeathandreducedby1foreachsubsequentyear.

(b) IftheDepositordiesbeforetherequiredbeginningdate,theremaininginterestwillbedistributedinaccordancewith(i)belowor,ifelectedorthereisnodesignatedbeneficiary,inaccordancewith(ii)below:

i. Theremaininginterestwillbedistributedinaccordancewithparagraphs(a)(i)and(a)(ii)above(butnotovertheperiodinparagraph(a)(iii),eveniflonger),startingbytheendofthecalendaryearfollowingtheyearoftheDepositor’sdeath.If,however,thedesignatedbeneficiaryistheDepositor’ssurvivingspouse,thenthisdistributionisnotrequiredtobeginbeforetheendofthecalendaryearinwhichtheDepositorwouldhavereachedage70½.But,insuchcase,iftheDepositor’ssurvivingspousediesbeforedistributionsarerequiredtobegin,thentheremaininginterestwillbedistributedinaccordancewith(a)(ii)above(butnotovertheperiodinparagraph(a)(iii),eveniflonger),oversuchspouse’sdesignatedbeneficiary’slifeexpectancy,orinaccordancewith(ii)belowifthereisnosuchdesignatedbeneficiary.

ii. TheremaininginterestwillbedistributedbytheendofthecalendaryearcontainingthefifthanniversaryoftheDepositor’sdeath.

4. IftheDepositordiesbeforehisorherentireinteresthasbeendistributedandifthedesignatedbeneficiaryisnottheDepositor’ssurvivingspouse,noadditionalcontributionsmaybeacceptedintheaccount.

5. Theminimumamountthatmustbedistributedeachyear,beginningwiththeyearcontainingtheDepositor’srequiredbeginningdate,isknownasthe“requiredminimumdistribution”andisdeterminedasfollows:

(a) Therequiredminimumdistributionunderparagraph2(b)foranyyear,beginningwiththeyeartheDepositorreachesage70½,istheDepositor’saccountvalueatthecloseofbusinessonDecember31oftheprecedingyeardividedbythedistributionperiodintheuniformlifetimetableinRegulations section 1.401(a)(9)-9. However, if the Depositor’s designated beneficiary is his or her surviving spouse, the requiredminimumdistributionforayearshallnotbemorethantheDepositor’saccountvalueatthecloseofbusinessonDecember31oftheprecedingyeardivided

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bythenumberinthejointandlastsurvivortableinRegulationssection1.401(a)(9)-9.Therequiredminimumdistributionforayearunderthisparagraph(a)isdeterminedusingtheDepositor’s(or,ifapplicable,theDepositorandspouse’s)attainedage(orages)intheyear.

(b) Therequiredminimumdistributionunderparagraphs3(a)and3(b)(i)forayear,beginningwiththeyearfollowingtheyearoftheDepositor’sdeath(ortheyeartheDepositorwouldhavereachedage70½,ifapplicableunderparagraph3(b)(i))istheaccountvalueatthecloseofbusinessonDecember31oftheprecedingyeardividedbythelifeexpectancy(inthesinglelifetableinRegulationssection1.401(a)(9)-9)oftheindividualspecifiedinsuchparagraphs3(a)and3(b)(i).

(c) TherequiredminimumdistributionfortheyeartheDepositorreachesage70½canbemadeaslateasApril1ofthefollowingyear.Therequiredminimumdistributionforanyotheryearmustbemadebytheendofsuchyear.

6. TheowneroftwoormoretraditionalIRAsmaysatisfytheminimumdistributionrequirementsdescribedabovebytakingfromonetraditionalIRAtheamountrequiredtosatisfytherequirementforanotherinaccordancewiththeregulationsundersection408(a)(6).

ARTICLEV

1. TheDepositoragreestoprovidetheCustodianwithinformationnecessaryfortheCustodiantoprepareanyreportsrequiredundersections408(i)andRegulationssections1.408-5and1.408-6.

2. TheCustodianagreestosubmittotheInternalRevenueService(IRS)andDepositorthereportsprescribedbytheIRS.

ARTICLEVI

Notwithstandinganyotherarticles,whichmaybeaddedorincorporated,theprovisionsofArticlesIthroughIIIandthissentencewillbecontrolling.Anyadditionalarticlesthatarenotconsistentwithsection408(a)andtherelatedregulationswillbeinvalid.

ARTICLEVII

ThisagreementwillbeamendedfromtimetotimetocomplywiththeprovisionsoftheCodeandrelatedregulations.OtheramendmentsmaybemadewiththeconsentofthepersonswhosesignatureappearsontheIRAapplication.

ARTICLEVIII

1. All funds in thecustodialaccount (includingearnings) shallbe invested inassetspermissibleunder theCodewhichhavebeendesignatedby theCustodianaseligibleforinvestment("EligibleAssets")asdirectedbytheDepositorincompliancewiththisAgreement.EligibleAssetswillbepurchasedatthepricesdeterminedinaccordancewiththemarketapplicabletoparticularEligibleAssets.

2. TheCustodianmayholdallEligibleAssetsinaccountsregisteredtotheCustodianoritsnominee.DepositorshallbethebeneficialownerofallEligibleAssetsheldinthecustodialaccountnotwithstandingsuchregistration.

3. TheDepositor(ortheDepositor’sauthorizedagent)shall,fromtimetotime,directtheCustodiantoinvestfundsreceivedbytheCustodianunderthisAgreement.AnyfundsreceivedbytheCustodianunderthisAgreementforwhichtheCustodiandoesnotreceiveinvestmentdirectionsmay,atthesolediscretionoftheCustodian,bereturnedtotheDepositororhelduninvesteduntildirectionisreceivedfromtheDepositor(ortheDepositor’sauthorizedagent),ineithercasewithoutsuchfundsbeingdeemedcontributedtothecustodialaccount.TheDepositorshallbethebeneficialownerofallEligibleAssetsheldinthecustodialaccount,andtheCustodianshallnotvoteanysuchsharesexceptuponwrittendirectionoftheDepositor.

4. TheCustodianagreestoforward,ortocausetobeforwarded,toDepositor(i)thethen-currentprospectus,ifany,applicabletoeachEligibleAssetheldinthecustodialaccount,and(ii)anynotices,proxiesandproxysolicitingmaterialsreceivedbyitwithrespecttoEligibleAssetsheldinthecustodialaccount.

5. TheDepositorshallhavetherightbywrittennoticetotheCustodian(i)todesignateoneormorebeneficiariestoreceiveanybenefittowhichtheDepositormaybeentitledintheeventoftheDepositor'sdeathpriortothecompletedistributionofsuchbenefit,and(ii)todesignateoneormorebeneficiariesinreplacementofanypreviouslydesignatedbeneficiaries.AnysuchnoticewillbedeemedtobeineffectwhenreceivedingoodorderbytheCustodian.IfnosuchdesignationisineffectatthetimeoftheDepositor'sdeath,orifalldesignatedbeneficiarieshavepredeceasedtheDepositor,theDepositor'ssurvivingspouseshallbecometheDepositor'sbeneficiary,or,iftheDepositordoesnothaveasurvivingspouseatthetimeofdeath,thedistributionwillbemadetotheDepositor'sestate.

6. (a) The Custodian shall have the right to receive rollover contributions. The Custodian reserves the right to refuse to accept any property orcontributionwhichisnotintheformofcash.

(b) TheCustodian,uponwrittendirectionof theDepositor (or theDepositor’sauthorizedagent)andafter submission to theCustodianof suchdocumentsasitmayreasonablyrequire,shalltransfertheassetsheldunderthisAgreement(reducedby(1)anyamountsreferredtoinparagraph8ofthisArticleVIIIand(2)anyamountsrequiredtobedistributedduringthecalendaryearoftransfer) toaqualifiedretirementplan,toasuccessorindividualretirementaccount,toanindividualretirementannuityfortheDepositor'sbenefit,ordirectlytotheDepositor.

AnyamountsreceivedortransferredbytheCustodianunderthisparagraph6shallbeaccompaniedbysuchrecordsandotherdocuments,astheCustodiandeemsnecessarytoestablishthenature,valueandextentoftheassetsandofthevariousintereststherein.

7. Withoutinanywaylimitingtheforegoing,theDepositorherebyirrevocablydelegatestotheCustodiantherightandpowertoamendatanytimeandfromtimetotimethetermsandprovisionsofthisAgreementandherebyconsentstosuchamendments,providedtheyshallcomplywithallapplicableprovisionsoftheCode,theTreasuryregulationsthereunderandwithanyothergovernmentallaw,regulationorruling.AnysuchamendmentsshallbeeffectivewhenthenoticeofsuchamendmentsismailedtotheaddressoftheDepositorindicatedbytheCustodian'srecords.

8. Anyincometaxesorothertaxesofanykindwhatsoeverleviedorassesseduponorinrespectoftheassetsofthecustodialaccountortheincomearisingthere from,anytransfer taxes incurred,allotheradministrativeexpenses incurred,specifically including,butnot limitedto,administrativeexpenses incurred by the Custodian in the performance of its duties and fees for legal services rendered to the Custodian, and the Custodian'scompensationmaybepaidby theDepositor and, unless sopaidwithin such timeperiod as theCustodianmayestablish, shall bepaid from theDepositor'scustodialaccount.TheCustodianreservestherighttochangeoradjustitscompensationupon30daysadvancenoticetotheDepositor.

9. Thebenefitsprovidedhereunder shallnotbe subject toalienation,assignment,garnishment,attachment,executionor levyofanykind,andanyattempttocausesuchbenefitstobesosubjectedshallnotberecognized,excepttosuchextentasmayberequiredbylaw.

10. TheCustodianmayrelyuponanystatementbytheDepositor(orbytheDepositor’sauthorizedagent,ortheDepositor’sbeneficiaryiftheDepositorisdeceased)whentakinganyactionordetermininganyfactorquestionwhichmayariseunderthisAgreement.TheDepositorherebyagreesthatneithertheCustodiannoranysponsor,issuer,depositoryorotherpersonorentityassociatedwithanyEligibleAssetheldatanytimeinthecustodial

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accountwillbeliableforanylossorexpenseresultingfromanyactiontakenordeterminationmadeinrelianceonsuchstatement.TheDepositorassumessoleresponsibilityforassuringthatcontributionstothecustodialaccountsatisfythelimitsspecifiedintheappropriateprovisionsoftheCode.

11. TheCustodianmayresignatanytimeupon30dayswrittennoticetotheDepositorandtothesponsor,issuer,depositoryorotherpersonorentityprimarilyassociatedwitheachEligibleAssetheldinthecustodialaccount,andmayberemovedbytheDepositoratanytimeupon30dayswrittennoticetotheCustodian.UpontheresignationorremovaloftheCustodian,asuccessorCustodianshallbeappointedwithin30daysofsuchresignationnoticeandintheabsenceofsuchappointment,theCustodianshallappointasuccessorunlesstheAgreementbesoonerterminated.AnysuccessorCustodianshallbeabank(asdefinedinsection408(n)oftheCode)orsuchotherpersonfoundqualifiedtoactasaCustodianunderanindividualaccountplanbytheSecretaryoftheTreasuryorhisdelegate.TheappointmentofasuccessorCustodianshallbeeffectiveuponreceiptbytheCustodianofsuchsuccessor'swrittenacceptance,whichshallbesubmittedtotheCustodian,thesponsor,andtheDepositor.Within30daysoftheeffectivedateofasuccessorCustodian'sappointment,theCustodianshalltransferanddelivertothesuccessorCustodianapplicableaccountrecordsandassetsofthecustodialaccount(reducedbyanyunpaidamountsreferredtoinparagraph8ofthisArticleVIII).ThesuccessorCustodian(oranysuccessorthereto)shallbesubjecttotheprovisionsofthisAgreement(oranysuccessorthereto)ontheeffectivedateofitsappointment.

12. TheCustodianshall,fromtimetotime,inaccordancewithinstructionsinwritingorbymeansofrecordedtelephoneconversationwiththeDepositor(ortheDepositor’sauthorizedagent,ortheDepositor’sbeneficiaryiftheDepositorisdeceased),makedistributionsoutofthecustodialaccountinthemannerandamountsasmaybespecifiedinsuchinstructions(reducedbyanyamountsreferredtoinArticleVIII,paragraph8).AnIRAdistributionformisavailablefromtheCustodian,andmaybeobtainedandusedtorequestdistributionsfromyourIRA.NotwithstandingtheprovisionsofArticleIVabove,theCustodianassumes(andshallhave)noresponsibilitytomakeanydistributionfromthecustodialaccountunlessanduntilsuchinstructionsspecifytheoccasionforsuchdistributionandtheelectedmannerofdistribution,exceptassetforthinthesecondpartofthisparagraph(12)below,withrespecttoage70½distributions.

Priortomakinganysuchdistributionfromthecustodialaccount,theCustodianshallbefurnishedwithanyandallapplications,certificates,taxwaivers,signatureguarantees,andotherdocuments(includingproofofanylegalrepresentative'sauthority)deemednecessaryoradvisablebytheCustodian,buttheCustodianshallnotbeliableforcomplyingwithanysuchinstructionswhichappearontheirfacetobegenuine,orforrefusingtocomplyifnotsatisfiedsuchinstructionsaregenuine,andassumesnodutyoffurtherinquiry.Uponreceiptofproperinstructionsasrequiredabove,theCustodianshallcausetheassetsofthecustodialaccounttobedistributedincashand/orinkind,asspecifiedinsuchinstructions.

TheDepositormayselectamethodofdistributionunderArticleIV,paragraph2.IftheDepositorrequestsanage70½distributionbytimelyinstruction,butdoesnotchooseanyofthemethodsofdistributiondescribedabovebytheApril1stfollowingthecalendaryearinwhichheorshereachesage70½,distributiontotheDepositorwillbemadeinaccordancewithArticleIV,paragraph2.IftheDepositordoesnotrequestanage70½distributionfromthecustodialaccountbytimelyinstruction,ordoesnotspecifyamethodofcalculatingtheamountoftheage70½distributionwhichtheDepositorwillbetakingfromanotherIRA(s),nodistributionwillbemade;howevercalculationofthecurrentyearRequiredMinimumDistributionamountwhichcannotberolledovertoanotherIRAwillbemadeinaccordancewithArticleIV,paragraph2,option(b).

13. DistributionoftheassetsofthecustodialaccountshallbemadeinaccordancewiththeprovisionsofArticleIVastheDepositor(ortheDepositor'sbeneficiaryiftheDepositorisdeceased)shallelectbywritteninstructionstotheCustodian;subject,however,totheprovisionsofsections401(a)(9),408(a)(6)and403(b)(10)oftheCode,theregulationspromulgatedthereunder,ArticleVIII,paragraph12ofthisAgreement,and,inaddition,iftheDepositordiesbeforehis/herentireinterestinthecustodialaccounthasbeendistributed,andifthedesignatedbeneficiaryoftheDepositoristheDepositor's surviving spouse, the spousemay treat the custodial accountashis/herown individual retirementarrangement. Thiselectionwill bedeemedtohavebeenmadeifthesurvivingspousemakesaregularIRAcontributiontothecustodialaccount,makesarollovertoorfromsuchcustodialaccount,or fails toreceiveapayment fromthecustodialaccountwithin theappropriatetimeperiodapplicable to thedeceasedDepositorundersection401(a)(9)(B)oftheCode.

Theprovisionsofthisparagraph(13)ofArticleVIIIshallprevailovertheprovisionsofArticleIVtotheextenttheprovisionsofthisparagraph(13)arepermissibleunderproposedand/orfinalregulationspromulgatedbytheInternalRevenueService.

14. IntheeventanyamountsremaininthecustodialaccountafterthedeathoftheDepositor,therightsoftheDepositorunderthisAgreementshallthereafterbeexercisedbyhisorherbeneficiary.

15. TheCustodianisauthorizedtohireagents(includinganytransferagentforEligibleAssets)toperformcertaindutiesunderthisAgreement.

16. ThisAgreementshallterminatecoincidentwiththecompletedistributionoftheassetsoftheDepositor'saccount.

17. AllnoticestobegivenbytheCustodiantotheDepositorshallbedeemedtohavebeengivenwhenmailedtotheaddressoftheDepositorindicatedbytheCustodian'srecords.

18. NeithertheCustodiannoranysponsor,issuer,depositoryorotherpersonorentityassociatedwithanyEligibleAssetheldatanytimeinthecustodialaccountshallberesponsibleforanylosses,penaltiesorotherconsequencestotheDepositororanyotherpersonarisingoutofthemakingof,orthefailuretomake,anycontributionorwithdrawal.

19. Inadditiontothereportsrequiredbyparagraph(2)ofArticleV,theCustodianshallperiodicallycausetobemailedtotheDepositorinrespectofeachsuchperiodanaccountofalltransactionsaffectingthecustodialaccountduringsuchperiodandastatementshowingthecustodialaccountasoftheendofsuchperiod.If,within30daysaftersuchmailing,theDepositorhasnotgiventheCustodianwrittennoticeofanyexceptionorobjectionthereto,theperiodicaccountingshallbedeemedtohavebeenapprovedand,insuchcaseoruponthewrittenapprovaloftheDepositor,theCustodianandthesponsorshallbereleased,relievedanddischargedwithrespecttoallmattersandstatementssetforthinsuchaccountingasthoughtheaccounthadbeensettledbyjudgmentordecreeofacourtofcompetentjurisdiction.

20. InperformingthedutiesconferredupontheCustodianbytheDepositorhereunder,theCustodianshallactastheagentoftheDepositor.ThepartiesdonotintendtoconferanyfiduciarydutiesontheCustodianandnoneshallbeimplied.NeithertheCustodiannoranysponsor,issuer,depositoryorotherpersonorentityassociatedwithEligibleAssetsshallbeliable(andneitherassumesanyresponsibility)forthecollectionofcontributions,thedeductibilityortheproprietyofanycontributionunderthisAgreement,theselectionofanyEligibleAssetforthiscustodialaccount,orthepurposeorproprietyofanydistributionmadeinaccordancewithArticleIVandParagraph12or13ofArticleVIII,whichmattersarethesoleresponsibilityoftheDepositorortheDepositor'sbeneficiary,asthecasemaybe.TheDepositoragreesthattheDepositorwillnotdirecttheCustodiantoengageinanyprohibitedtransactions(asdefinedinCodesection4975)withrespecttotheCustodialAccount.

TheDepositorandthesuccessorsoftheDepositor,includinganybeneficiary,executororadministrator,shall,totheextentpermittedbylaw,indemnifyandholdtheCustodianandanysponsor,issuer,depositoryorotherpersonorentityassociatedwithEligibleAssetsandtheiraffiliates,successorsandassignsharmlessfromanyandallclaims,actionsorliabilities,exceptsuchasmayarisefromsuchparty'sownbadfaith,negligence,nonfeasance,orwillfulmisconduct.

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21. TheCustodianshallberesponsiblesolelyfortheperformanceofthosedutiesexpresslyassignedtoitinthisAgreementandbyoperationoflaw.NeithertheCustodiannoranysponsor,issuer,depositoryorotherpersonorentityassociatedwithEligibleAssetsshallhaveanydutytoaccountfordeductiblecontributions separately from nondeductible contributions, unless required to do so by applicable law. In determining the taxable amount of adistribution,theDepositorshallrelyonlyonhisorherfederaltaxrecords,andtheCustodianshallwithholdfederalincometaxfromanydistributionfromthecustodialaccountasifthetotalamountofthedistributionisincludibleintheDepositor'sincome.

22. ExcepttotheextentsupersededbyFederallaw,thisAgreementshallbegovernedby,andconstrued,administeredandenforcedaccordingto,thelawsoftheStateofDelaware,andallcontributionsshallbedeemedmadeinDelaware.

23. In theeventanyassetorpropertyheld in thecustodialaccount (oranyassetorpropertypreviously subject to theoperationof this sectionandadministeredbytheCustodian)isredeemedorliquidated,matures,orisotherwiseconvertedtocashorotherproperty(a"Liquidation")foranyreasonorunderanycircumstancesandtheCustodiandoesnotreceivetimelyinstructionsdesignatingwhatitshoulddowiththeproceedsofsuchLiquidation(the"Proceeds")fromanypersonlawfullyentitledtogiveinstructionswithrespecttotheaccount,includingwithoutlimitationtheregisteredownerofthecustodialaccount("Owner")andsuccessorsandrepresentativesoftheOwner,includingbeneficiaries,heirs,executors,andadministrators,orotherproperpersonsorentities,orinstructionsarereceivedbuttheycannotreasonablyorpracticablybecarriedoutasgivenorareambiguousorunclear,theOwnerexpresslydirectsandauthorizestheCustodiantotake"AnyReasonableCourseOfConduct"."AnyReasonableCourseOfConduct"isherebydefinedtomeanacourseofconductthattheCustodiandeterminestobereasonableunderthecircumstances--thiscourseofconductmayincludeanyoneormoreofthefollowing,butitisnotlimitedtothefollowing:(i)depositingProceedsinanFDIC-insuredbankaccountoranyotheraccount,orusingProceedstopurchasesharesofamoneymarketmutualfundoranyotherassetorproperty,(ii)distributingProceedstopersonstheCustodianreasonablydeterminestobelawfullyentitledtodistributionsfromtheaccount,(iii)holdingProceedsuninvestedinageneralaccountoftheCustodianorotherdepositoryand(iv)resigningasCustodianandengaginginacourseofconduct,includinganydescribedinclauses(i)through(iii),outrightandfreeoftrust,iftheOwnerdoesnotappointaCustodianwhichimmediatelyacceptstransferofallProceeds,althoughnothinginthisclause(iv)shallbeinterpretedtoobligatetheCustodiantoresignbeforetakinganycourseofconduct,includinganydescribedinclauses(i)through(iii).

In the event any agreementor understanding (other than this custodial account agreement) pursuant towhichor in considerationofwhich theCustodianservesascustodianoftheAccountisterminated(andisnotrenewedorreplaced)andasuccessorcustodiandoesnottakecustodyoftheaccountinconnectionwithorfollowingsuchtermination,theCustodian,afternotlessthan30daysnoticetotheOwnerorsuchotherpersonsastheCustodianreasonablydeterminestobeentitledtogiveinstructionswithrespecttotheaccount,may(i)takeAnyReasonableCourseOfConductwithrespecttoanyassetsorpropertyinthecustodialaccount,anyProceedsoranyassetorpropertypreviouslysubjecttotheoperationofthissectionandstilladministeredbytheCustodian,and(ii)mayresetcustodialfeeschargedtoandowedbytheaccountownertotheCustodiantoanamountequaltothecostsofmaintainingtheaccount.

TheCustodianisauthorizedtopayorrecoveranycostsandexpensesassociatedwithtakingAnyReasonableCourseofConductbyutilizingtheassets,propertyorProceedsinvolvedorbyretainingaportionofsuchinareserveandsubsequentlydistributinganyunusedportionofthereserve.TooffsetadministrativecostsoftheCustodianunderanyoftheabovedescribedcircumstancesnototherwiserecoveredtheCustodianshallbeentitledtoretainforitsownaccountanyincidentalbenefitsearnedinconnectionwithtakingAnyReasonableCourseofAction,including"float",bankservicecreditsorovernightinvestmentearnings.

TheCustodianshallnotbe liable foranyactiontaken in relianceonthissection,unlesssuch liability is requiredbytheInternalRevenueCodeorregulations implementing the InternalRevenueCode,and theOwnerexpresslywaivesand releases theCustodian fromall such liability.Withoutlimitingthegeneralityoftheforegoing,intheeventtheCustodianmakesadistributionfromtheaccounttothepersonsitreasonablydeterminestobeentitledtoaccountdistributions,theownerandsuchpersonsshallbearsoleresponsibilityforanytaxes,fines,assessments,penalties,levies,tariffs,orotherliabilitiesorconsequencesofanynaturearisingorresultingfromthedistribution,includingnon-monetaryliabilitiesorconsequences,andfortakinganyactionsfollowingthedistributiontoavoidormitigateanyliabilitiesorconsequences.

ThissectionshallnotbeinterpretedsoastoimposeanydutyofanynatureontheCustodianifanyoneormoreoftheeventsdescribedinthissectionoccurs,whetheradutytotakeoromittotakeanyactinparticular,toplaceProceedsinanyparticularassetorproperty,totakepossessionofProceedsifpossessionisdiscretionary,toexercisediscretionaryinvestmentauthorityovertheaccount,ortodistributeProceedstotheOwner.Forpurposesofclarification,itistheintentionofthissectiontoprovidetheCustodianwiththebroadestpossiblediscretionpermittedbylaw,includingthediscretiontoholdProceedsuninvested.

TheOwnerauthorizestheCustodiantoescheatorotherwiseremittoappropriatejurisdictionsinaccordancewithapplicableabandonedpropertyorotherlawsanyassetsorpropertyinthecustodialaccount,anyProceedsoranyassetorpropertypreviouslysubjecttotheoperationofthissectionandstilladministeredorheldbytheCustodian,andtotheextentanyoftheforegoingconsistsofanythingotherthancash,theCustodianmayescheatorremitthenon-cashasset,propertyorProceedsorthecashresultingfromaliquidationofsuchnon-cashasset,propertyorProceeds.

Theaccountowneracknowledgesandacceptstherisksofowningtheaccountasdescribed inthissection, includingthe investmentrisksandtaxconsequencesoftheCustodiantakingAnyReasonableCourseOfConduct.

24. The term "participant" used anywhere in this Application and Adoption Agreement has the samemeaning as "Depositor" used in this CustodialAgreement.

GENERALINSTRUCTIONS-(SectionreferencesaretotheInternalRevenueCodeunlessotherwisenoted.)

PurposeofForm-Form5305-Aisamodelcustodialaccountagreementthatmeetstherequirementsofsection408(a)andhasbeenautomaticallyapprovedbytheIRS.Anindividualretirementaccount(IRA)isestablishedaftertheformisfullyexecutedbyboththeindividual(Depositor)andtheCustodianandmustbecompletednolaterthantheduedateoftheindividual’sincometaxreturnforthetaxyear(withoutregardtoextensions).ThisaccountmustbecreatedintheUnitedStatesfortheexclusivebenefitoftheDepositororhisorherbeneficiaries.

DEFINITIONS

Custodian-TheCustodianmustbeabankorsavingsandloanassociation,asdefinedinsection408(n),oranypersonwhohastheapprovaloftheIRStoactasCustodian.

Depositor-TheDepositoristhepersonwhoestablishesthecustodialaccount.

IdentifyingNumber-TheDepositor’ssocialsecuritynumberwillserveastheidentificationnumberofhisorherIRA.Anemployeridentificationnumber(EIN)isrequiredonlyforanIRAforwhichareturnisfiledtoreportunrelatedbusinesstaxableincome.AnEINisrequiredforacommonfundcreatedforIRAs.

Traditional IRAforNonworkingSpouse-Form5305-AmaybeusedtoestablishtheIRAcustodialaccountforanonworkingspouse.ContributionstoanIRAcustodialaccountforanonworkingspousemustbemadetoaseparateIRAcustodialaccountestablishedbythenonworkingspouse.

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SPECIFICINSTRUCTIONS

ArticleIV.Distributionsmadeunderthisarticlemaybemadeinasinglesum,periodicpayment,oracombinationofboth.ThedistributionoptionshouldbereviewedintheyeartheDepositorreachesage70½toensurethattherequirementsofsection408(a)(6)havebeenmet.

ArticleVIII.ArticleVIIIandanythatfollowitmayincorporateadditionalprovisionsthatareagreedtobytheDepositorandCustodiantocompletetheagreement.Theymayinclude,forexample,definitions,investmentpowers,votingrights,exculpatoryprovisions,amendmentandtermination,removaloftheCustodian,Custodian’sfees,statelawrequirements,Federallawrequirements,regulatoryrequirements,beginningdateofdistributions,acceptingonlycash,treatmentofexcesscontributions,prohibitedtransactionswiththeDepositor,etc.

ROTHIRACUSTODIALACCOUNTAGREEMENT(Undersection408AoftheInternalRevenueCode-Form5305-RAMarch2002)Form5305-RAisamodelcustodialaccountagreementthatmeetstherequirementsofsection408Aandhasbeenpre-approvedbytheIRS.TheDepositorwhosenameappearsintheaccompanyingApplicationisestablishingaRothIndividualRetirementAccount(“RothIRA”)undersection408Atoprovideforhisorherretirementandforthesupportofhisorherbeneficiariesafterdeath.TheaccountmustbecreatedintheUnitedStatesfortheexclusivebenefitoftheDepositororhisorherbeneficiaries.

TheCustodianhasgiventheDepositorthedisclosurestatementrequiredunderRegulationssection1.408-6.

TheDepositorandtheCustodianmakethefollowingagreement:

ARTICLEI

Exceptinthecaseofarollovercontributiondescribedinsection408A(e),arecharacterizedcontributiondescribedinsection408A(d)(6),oranIRAconversioncontribution,theCustodianwillacceptonlycashcontributionsandonlyuptoamaximumamountof$3,000peryearfortaxyears2002through2004.Thatcontributionlimitisincreasedto$4,000fortaxyears2005through2007and$5,000for2008andthereafter.Forindividualswhohavereachedtheageof50beforethecloseofthetaxyear,thecontributionlimitisincreasedto$3,500peryearfortaxyears2002through2004,$4,500for2005,$5,000for2006and2007and$6,000for2008andthereafter.Fortaxyearsafter2008,thelimitswillbeincreasedtoreflectacost-of-livingadjustment,ifany.

ARTICLEII

1. TheannualcontributionlimitdescribedinArticleIisgraduallyreducedto$0forhigherincomelevels.ForasingleDepositor,theannualcontributionisphasedoutbetweenadjustedgrossincome(“AGI”)of$95,000and$110,000,foramarriedDepositorfilingjointly,betweenAGIof$150,000and$160,000;andforamarriedDepositorfilingseparately,betweenAGIof$0and$10,000.Inthecaseofaconversion,theCustodianwillnotacceptIRAConversionContributionsinataxyeariftheDepositor’sAGIforthetaxyearthefundsweredistributedfromtheotherIRAexceeds$100,000oriftheDepositor is married and files a separate return. Adjusted gross income is defined in section 408A(c)(3) and does not include IRA ConversionContributions.

2. Inthecaseofajointreturn,theAGIlimitsintheprecedingparagraphapplytothecombinedAGIoftheDepositorandhisorherspouse.

ARTICLEIII

TheDepositor’sinterestinthebalanceinthecustodialaccountisnonforfeitable.

ARTICLEIV

1. Nopartofthecustodialaccountfundsmaybeinvestedinlifeinsurancecontracts,normaytheassetsofthecustodialaccountbecommingledwithotherpropertyexceptinacommontrustfundorcommoninvestmentfund(withinthemeaningofsection408(a)(5)).

2. Nopartofthecustodialaccountfundsmaybeinvestedincollectibles(withinthemeaningofsection408(m))exceptasotherwisepermittedbysection408(m)(3),whichprovidesanexceptionforcertaingold,silver,andplatinumcoins,coinsissuedunderthelawsofanystate,andcertainbullion.

ARTICLEV

1. IftheDepositordiesbeforehisorherentireinterestisdistributedtohimorherandthedepositor’ssurvivingspouseisnotthesolebeneficiary,theremaininginterestwillbedistributedinaccordancewith(a)belowor,ifelectedorthereisnodesignatedbeneficiary,inaccordancewith(b)below:

(a) Theremaininginterestwillbedistributed,startingbytheendofthecalendaryearfollowingtheyearoftheDepositor’sdeath,overthedesignatedbeneficiary’sremaininglifeexpectancyasdeterminedintheyearfollowingthedeathoftheDepositor.

(b) TheremaininginterestwillbedistributedbytheendofthecalendaryearcontainingthefifthanniversaryoftheDepositor’sdeath.

2. Theminimumamountthatmustbedistributedeachyearunderparagraph1(a)aboveistheaccountvalueatthecloseofbusinessonDecember31oftheprecedingyeardividedbythelifeexpectancy(inthesinglelifetableinRegulationssection1.401(a)(9)-9)ofthedesignatedbeneficiaryusingtheattainedageofthebeneficiaryintheyearfollowingtheyearoftheDepositor’sdeathandsubtracting1fromthedivisorforeachsubsequentyear.

3. IftheDepositor’ssurvivingspouseisthedesignatedbeneficiary,suchspousewillthenbetreatedastheDepositor.

ARTICLEVI

1. TheDepositoragreestoprovidetheCustodianwithinformationnecessaryfortheCustodiantoprepareanyreportsrequiredundersections408(i)and408A(d)(3)(E),Regulationssections1.408-5and1.408-6,orunderguidancepublishedbytheInternalRevenueService.

2. TheCustodianagreestosubmittotheIRSandDepositorthereportsprescribedbytheIRS.

ARTICLEVII

Notwithstandinganyotherarticles,whichmaybeaddedorincorporated,theprovisionsofArticlesIthroughIVandthissentencewillbecontrolling.Anyadditionalarticlesthatarenotconsistentwithsection408A,therelatedregulations,andotherpublishedguidancewillbeinvalid.

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ARTICLEVIII

ThisagreementwillbeamendedasnecessarytocomplywiththeprovisionsoftheCode,relatedregulations,andotherpublishedguidance.OtheramendmentsmaybemadewiththeconsentofthepersonswhosesignatureappearsontheIRAapplication.

ARTICLEIX

1. All funds in thecustodialaccount (includingearnings) shallbe invested inassetspermissibleunder theCodewhichhavebeendesignatedby theCustodianaseligibleforinvestment("EligibleAssets")asdirectedbytheDepositorincompliancewiththisAgreement.EligibleAssetswillbepurchasedatthepricesdeterminedinaccordancewiththemarketapplicabletoparticularEligibleAssets.

2. TheCustodianmayholdallEligibleAssetsinaccountsregisteredtotheCustodianoritsnominee.DepositorshallbethebeneficialownerofallEligibleAssetsheldinthecustodialaccountnotwithstandingsuchregistration.

3. TheDepositor(ortheDepositor’sauthorizedagent)shall,fromtimetotime,directtheCustodiantoinvestfundsreceivedbytheCustodianunderthisAgreement.AnyfundsreceivedbytheCustodianunderthisAgreementforwhichtheCustodiandoesnotreceiveinvestmentdirectionsmay,atthesolediscretionoftheCustodian,bereturnedtotheDepositororhelduninvesteduntildirectionisreceivedfromtheDepositor(ortheDepositor’sauthorizedagent),ineithercasewithoutsuchfundsbeingdeemedcontributedtothecustodialaccount.TheDepositorshallbethebeneficialownerofallEligibleAssetsheldinthecustodialaccount,andtheCustodianshallnotvoteanysuchsharesexceptuponwrittendirectionoftheDepositor.

4. TheCustodianagreestoforward,ortocausetobeforwarded,toDepositor(i)thethen-currentprospectus,ifany,applicabletoeachEligibleAssetheldinthecustodialaccount,and(ii)anynotices,proxiesandproxysolicitingmaterialsreceivedbyitwithrespecttoEligibleAssetsheldinthecustodialaccount.

5. TheDepositorshallhavetherightbywrittennoticetotheCustodian(i)todesignateoneormorebeneficiariestoreceiveanybenefittowhichtheDepositormaybeentitledintheeventoftheDepositor'sdeathpriortothecompletedistributionofsuchbenefit,and(ii)todesignateoneormorebeneficiariesinreplacementofanypreviouslydesignatedbeneficiaries.AnysuchnoticewillbedeemedtobeineffectwhenreceivedingoodorderbytheCustodian.IfnosuchdesignationisineffectatthetimeoftheDepositor'sdeath,orifalldesignatedbeneficiarieshavepredeceasedtheDepositor,theDepositor'ssurvivingspouseshallbecometheDepositor'sbeneficiary,or,iftheDepositordoesnothaveasurvivingspouseatthetimeofdeath,thedistributionwillbemadetotheDepositor'sestate.

6. (a) TheCustodianshallhavetherighttoreceiverolloverandconversioncontributionsasallowedundersection408A,howeveritistheDepositor’sresponsibilitytoensurethatsuchrolloversandconversionsareeligibletobecontributedtothisRothIRA.TheCustodianreservestherighttorefusetoacceptanypropertyorcontributionwhichisnotintheformofcash.

(b) TheCustodian,uponwrittendirectionof theDepositor (or theDepositor’sauthorizedagent)andafter submission to theCustodianof suchdocumentsasitmayreasonablyrequire,shalltransfertheassetsheldunderthisAgreement(reducedbyanyamountsreferredtoinparagraph8ofthisArticleIX)toasuccessorRothIndividualRetirementAccountordirectlytotheDepositor.

AnyamountsreceivedortransferredbytheCustodianunderthisparagraph6shallbeaccompaniedbysuchrecordsandotherdocumentsastheCustodiandeemsnecessarytoestablishthenature,valueandextentoftheassetsandofthevariousintereststherein.

7. Withoutinanywaylimitingtheforegoing,theDepositorherebyirrevocablydelegatestotheCustodiantherightandpowertoamendatanytimeandfromtimetotimethetermsandprovisionsofthisAgreementandherebyconsentstosuchamendments,providedtheyshallcomplywithallapplicableprovisionsoftheCode,theTreasuryregulationsthereunderandwithanyothergovernmentallaw,regulationorruling.AnysuchamendmentsshallbeeffectivewhenthenoticeofsuchamendmentsismailedtotheaddressoftheDepositorindicatedbytheCustodian'srecords.

8. Anyincometaxesorothertaxesofanykindwhatsoeverleviedorassesseduponorinrespectoftheassetsofthecustodialaccountortheincomearising there from,any transfer taxes incurred,allotheradministrativeexpenses incurred, specifically includingbutnot limited to,administrativeexpenses incurred by the Custodian in the performance of its duties and fees for legal services rendered to the Custodian, and the Custodian'scompensationmaybepaidby theDepositor and, unless sopaidwithin such timeperiod as theCustodianmayestablish, shall bepaid from theDepositor'scustodialaccount.TheCustodianreservestherighttochangeoradjustitscompensationupon30daysadvancenoticetotheDepositor.

9. Thebenefitsprovidedhereunder shallnotbe subject toalienation,assignment,garnishment,attachment,executionor levyofanykind,andanyattempttocausesuchbenefitstobesosubjectedshallnotberecognized,excepttosuchextentasmayberequiredbylaw.

10. TheCustodianmayrelyuponanystatementbytheDepositor(ortheDepositor’sauthorizedagent,ortheDepositor’sbeneficiaryiftheDepositorisdeceased)whentakinganyactionordetermininganyfactorquestionwhichmayariseunderthisAgreement.TheDepositorherebyagreesthatneithertheCustodiannoranysponsor,issuer,depositoryorotherpersonorentityassociatedwithanyEligibleAssetheldatanytimeinthecustodialaccountwillbeliableforanylossorexpenseresultingfromanyactiontakenordeterminationmadeinrelianceonsuchstatement.TheDepositorassumessoleresponsibilityforassuringthatcontributionstothecustodialaccountsatisfythelimitsspecifiedintheappropriateprovisionsoftheCode.

11. TheCustodianmayresignatanytimeupon30dayswrittennoticetotheDepositorandtothesponsor,issuer,depositoryorotherpersonorentityprimarilyassociatedwitheachEligibleAssetheldinthecustodialaccount,andmayberemovedbytheDepositoratanytimeupon30dayswrittennoticetotheCustodian.UpontheresignationorremovaloftheCustodian,asuccessorCustodianshallbeappointedwithin30daysofsuchresignationnoticeandintheabsenceofsuchappointment,theCustodianshallappointasuccessorunlesstheAgreementbesoonerterminated.AnysuccessorCustodianshallbeabank(asdefinedinsection408(n)oftheCode)orsuchotherpersonfoundqualifiedtoactasaCustodianunderanindividualaccountplanbytheSecretaryoftheTreasuryorhisdelegate.TheappointmentofasuccessorCustodianshallbeeffectiveuponreceiptbytheCustodianofsuchsuccessor'swrittenacceptance,whichshallbesubmittedtotheCustodian,thesponsor,andtheDepositor.Within30daysoftheeffectivedateofasuccessorCustodian'sappointment,theCustodianshalltransferanddelivertothesuccessorCustodianapplicableaccountrecordsandassetsofthecustodialaccount(reducedbyanyunpaidamountsreferredtoinparagraph8ofthisArticleIX).ThesuccessorCustodianshallbesubjecttotheprovisionsofthisAgreement(oranysuccessorthereto)ontheeffectivedateofitsappointment.

12. TheCustodianshall,fromtimetotime,inaccordancewithinstructionsinwritingorbymeansofrecordedtelephoneconversationwiththeDepositor(ortheDepositor’sauthorizedagent,ortheDepositor'sbeneficiaryiftheDepositorisdeceased),makedistributionsoutofthecustodialaccounttotheDepositorinthemannerandamountsasmaybespecifiedinsuchinstructions(reducedbyanyamountsreferredtoinArticleIX,paragraph8).AnIRAdistribution form isavailable fromtheCustodian,andmaybeobtainedandused to requestdistributions fromyourRoth IRA.TheCustodianassumes(andshallhave)noresponsibilitytomakeanydistributionfromthecustodialaccountunlessanduntilsuchinstructionsspecifytheoccasionforsuchdistributionandtheelectedmannerofdistribution.

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Priortomakinganysuchdistributionfromthecustodialaccount,theCustodianshallbefurnishedwithanyandallapplications,certificates,taxwaivers,signatureguarantees,andotherdocuments(includingproofofanylegalrepresentative'sauthority)deemednecessaryoradvisablebytheCustodian,buttheCustodianshallnotbeliableforcomplyingwithanysuchinstructionswhichappearontheirfacetobegenuine,orforrefusingtocomplyifnotsatisfiedsuchinstructionsaregenuine,andassumesnodutyoffurtherinquiry.Uponreceiptofproperinstructionsasrequiredabove,theCustodianshallcausetheassetsofthecustodialaccounttobedistributedincashand/orinkind,asspecifiedinsuchinstructions.

13. NodistributionsarerequiredtobetakenfromtheRothIRAduringthelifetimeoftheDepositor.IftheDepositordesirestotakedistributionsfromtheRothIRA,suchdistributionsshallbemade,astheDepositorshallelectbywritteninstructionstotheCustodian.

14. IntheeventanyamountsremaininthecustodialaccountafterthedeathoftheDepositor,hisorherbeneficiaryshallthereafterexercisetherightsoftheDepositorasdescribedinArticleV.

15. TheCustodianisauthorizedtohireagents(includinganytransferagentforEligibleAssets)toperformcertaindutiesunderthisAgreement.

16. ThisAgreementshallterminatecoincidentwiththecompletedistributionoftheassetsoftheDepositor'saccount.

17. AllnoticestobegivenbytheCustodiantotheDepositorshallbedeemedtohavebeengivenwhenmailedtotheaddressoftheDepositorindicatedbytheCustodian'srecords.

18. NeithertheCustodiannoranysponsor,issuer,depositoryorotherpersonorentityassociatedwithanyEligibleAssetheldatanytimeinthecustodialaccountshallberesponsibleforanylosses,penaltiesorotherconsequencestotheDepositororanyotherpersonarisingoutofthemakingof,orthefailuretomake,anycontributionorwithdrawal.

19. Inadditiontothereportsrequiredbyparagraph(2)ofArticleVI,theCustodianshallperiodicallycausetobemailedtotheDepositorinrespectofeachsuchperiodanaccountofalltransactionsaffectingthecustodialaccountduringsuchperiodandastatementshowingthecustodialaccountasoftheendofsuchperiod.If,within30daysaftersuchmailing,theDepositorhasnotgiventheCustodianwrittennoticeofanyexceptionorobjectionthereto,theperiodicaccountingshallbedeemedtohavebeenapprovedand,insuchcaseoruponthewrittenapprovaloftheDepositor,theCustodianandthesponsorshallbereleased,relievedanddischargedwithrespecttoallmattersandstatementssetforthinsuchaccountingasthoughtheaccounthadbeensettledbyjudgmentordecreeofacourtofcompetentjurisdiction.

20. InperformingthedutiesconferredupontheCustodianbytheDepositorhereunder,theCustodianshallactastheagentoftheDepositor.ThepartiesdonotintendtoconferanyfiduciarydutiesontheCustodianandnoneshallbeimplied.NeithertheCustodiannoranysponsor,issuer,depositoryorotherpersonorentityassociatedwithEligibleAssetsshallbeliable(andneitherassumesanyresponsibility)forthecollectionofcontributions,thedeductibilityortheproprietyofanycontributionunderthisAgreement,theselectionofanyEligibleAssetforthiscustodialaccount,orthepurposeorproprietyofanydistributionmade,whichmattersarethesoleresponsibilityoftheDepositorortheDepositor'sbeneficiary,asthecasemaybe.TheDepositoragreesthattheDepositorwillnotdirect theCustodiantoengage inanyprohibitedtransactions (asdefined inCodesection4975)withrespecttotheCustodialAccount.

TheDepositorandthesuccessorsoftheDepositor,includinganybeneficiary,executororadministrator,shall,totheextentpermittedbylaw,indemnifyandholdtheCustodianandanysponsor,issuer,depositoryorotherpersonorentityassociatedwithEligibleAssetsandtheiraffiliates,successorsandassignsharmlessfromanyandallclaims,actionsorliabilities,exceptsuchasmayarisefromsuchparty'sownbadfaith,negligence,nonfeasance,orwillfulmisconduct.

21. TheCustodianshallberesponsiblesolelyfortheperformanceofthosedutiesexpresslyassignedtoitinthisAgreementandbyoperationoflaw.Indeterminingthetaxableamountofadistribution,theDepositorshallrelyonlyonhisorherfederaltaxrecords,andtheCustodianshallwithholdfederalincometaxfromanydistributionfromthecustodialaccountasifthetotalamountofthedistributionisincludibleintheDepositor'sincome.

22. ExcepttotheextentsupersededbyFederallaw,thisAgreementshallbegovernedby,andconstrued,administeredandenforcedaccordingto,thelawsoftheStateofDelaware,andallcontributionsshallbedeemedmadeinDelaware.

23. In theeventanyassetorpropertyheld in thecustodialaccount (oranyassetorpropertypreviously subject to theoperationof this sectionandadministeredbytheCustodian)isredeemedorliquidated,matures,orisotherwiseconvertedtocashorotherproperty(a"Liquidation")foranyreasonorunderanycircumstancesandtheCustodiandoesnotreceivetimelyinstructionsdesignatingwhatitshoulddowiththeproceedsofsuchLiquidation(the"Proceeds")fromanypersonlawfullyentitledtogiveinstructionswithrespecttotheaccount,includingwithoutlimitationtheregisteredownerofthecustodialaccount("Owner")andsuccessorsandrepresentativesoftheOwner,includingbeneficiaries,heirs,executors,andadministrators,orotherproperpersonsorentities,orinstructionsarereceivedbuttheycannotreasonablyorpracticablybecarriedoutasgivenorareambiguousorunclear,theOwnerexpresslydirectsandauthorizestheCustodiantotake"AnyReasonableCourseOfConduct"."AnyReasonableCourseOfConduct"isherebydefinedtomeanacourseofconductthattheCustodiandeterminestobereasonableunderthecircumstances--thiscourseofconductmayincludeanyoneormoreofthefollowing,butitisnotlimitedtothefollowing:(i)depositingProceedsinanFDIC-insuredbankaccountoranyotheraccount,orusingProceedstopurchasesharesofamoneymarketmutualfundoranyotherassetorproperty,(ii)distributingProceedstopersonstheCustodianreasonablydeterminestobelawfullyentitledtodistributionsfromtheaccount,(iii)holdingProceedsuninvestedinageneralaccountoftheCustodianorotherdepositoryand(iv)resigningasCustodianandengaginginacourseofconduct,includinganydescribedinclauses(i)through(iii),outrightandfreeoftrust,iftheOwnerdoesnotappointaCustodianwhichimmediatelyacceptstransferofallProceeds,althoughnothinginthisclause(iv)shallbeinterpretedtoobligatetheCustodiantoresignbeforetakinganycourseofconduct,includinganydescribedinclauses(i)through(iii).

In the event any agreementor understanding (other than this custodial account agreement) pursuant towhichor in considerationofwhich theCustodianservesascustodianoftheAccountisterminated(andisnotrenewedorreplaced)andasuccessorcustodiandoesnottakecustodyoftheaccountinconnectionwithorfollowingsuchtermination,theCustodian,afternotlessthan30daysnoticetotheOwnerorsuchotherpersonsastheCustodianreasonablydeterminestobeentitledtogiveinstructionswithrespecttotheaccount,may(i)takeAnyReasonableCourseOfConductwithrespecttoanyassetsorpropertyinthecustodialaccount,anyProceedsoranyassetorpropertypreviouslysubjecttotheoperationofthissectionandstilladministeredbytheCustodian,and(ii)mayresetcustodialfeeschargedtoandowedbytheaccountownertotheCustodiantoanamountequaltothecostsofmaintainingtheaccount.

TheCustodianisauthorizedtopayorrecoveranycostsandexpensesassociatedwithtakingAnyReasonableCourseofConductbyutilizingtheassets,propertyorProceedsinvolvedorbyretainingaportionofsuchinareserveandsubsequentlydistributinganyunusedportionofthereserve.TooffsetadministrativecostsoftheCustodianunderanyoftheabovedescribedcircumstancesnototherwiserecoveredtheCustodianshallbeentitledtoretainforitsownaccountanyincidentalbenefitsearnedinconnectionwithtakingAnyReasonableCourseofAction,including"float",bankservicecreditsorovernightinvestmentearnings.

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TheCustodianshallnotbe liable foranyactiontaken in relianceonthissection,unlesssuch liability is requiredby the InternalRevenueCodeorregulations implementing the InternalRevenueCode,and theOwnerexpresslywaivesand releases theCustodian fromall such liability.Withoutlimitingthegeneralityoftheforegoing,intheeventtheCustodianmakesadistributionfromtheaccounttothepersonsitreasonablydeterminestobeentitledtoaccountdistributions,theownerandsuchpersonsshallbearsoleresponsibilityforanytaxes,fines,assessments,penalties,levies,tariffs,orotherliabilitiesorconsequencesofanynaturearisingorresultingfromthedistribution,includingnon-monetaryliabilitiesorconsequences,andfortakinganyactionsfollowingthedistributiontoavoidormitigateanyliabilitiesorconsequences.

ThissectionshallnotbeinterpretedsoastoimposeanydutyofanynatureontheCustodianifanyoneormoreoftheeventsdescribedinthissectionoccurs,whetheradutytotakeoromittotakeanyactinparticular,toplaceProceedsinanyparticularassetorproperty,totakepossessionofProceedsifpossessionisdiscretionary,toexercisediscretionaryinvestmentauthorityovertheaccount,ortodistributeProceedstotheOwner.Forpurposesofclarification,itistheintentionofthissectiontoprovidetheCustodianwiththebroadestpossiblediscretionpermittedbylaw,includingthediscretiontoholdProceedsuninvested.

TheOwnerauthorizestheCustodiantoescheatorotherwiseremittoappropriatejurisdictionsinaccordancewithapplicableabandonedpropertyorotherlawsanyassetsorpropertyinthecustodialaccount,anyProceedsoranyassetorpropertypreviouslysubjecttotheoperationofthissectionandstilladministeredorheldbytheCustodian,andtotheextentanyoftheforegoingconsistsofanythingotherthancash,theCustodianmayescheatorremitthenon-cashasset,propertyorProceedsorthecashresultingfromaliquidationofsuchnon-cashasset,propertyorProceeds.

Theaccountowneracknowledgesandacceptstherisksofowningtheaccountasdescribed inthissection, includingthe investmentrisksandtaxconsequencesoftheCustodiantakingAnyReasonableCourseOfConduct.

24. The term "participant" used anywhere in the Application and Adoption Agreement has the samemeaning as "Depositor" used in this CustodialAgreement.

25. Notwithstandinganyotherprovisionof thisAgreement, specifically includingbutnot limited toparagraph3ofArticleVandArticleVII,a spousebeneficiaryshallhaveavailablealldeathbenefitsoptionsavailableundercurrentsection408(a)evenifthespouseisnotthesolebeneficiary.

26. NotwithstandinganyotherprovisionofthisAgreementortheApplicationandAdoptionAgreement,includinganydesignationbyDepositorthereon,theaccountbeingestablishedbytheDepositorpursuanttotheApplicationandAdoptionAgreementisnotandmaynotbeaRothConversionIRA.AnyreferenceontheApplicationandAdoptionAgreementto"conversion"isforpurposesofclarifyinginstructionsfromtheDepositorandshallnotbeinterpretedtoestablishaRothConversionIRAsubjecttoArticleI.

GENERALINSTRUCTIONS-SectionreferencesaretotheInternalRevenueCodeunlessotherwisenoted.

PurposeofForm-Form5305-RAisamodelcustodialaccountagreementthatmeetstherequirementsofsection408AandhasbeenautomaticallyapprovedbytheIRS.ARothindividualretirementaccount(RothIRA)isestablishedaftertheformisfullyexecutedbyboththeindividual(Depositor)andtheCustodian.ThisaccountmustbecreatedintheUnitedStatesfortheexclusivebenefitoftheDepositororhisorherbeneficiaries.Unlikecontributionstotraditionalindividualretirementarrangements,contributionstoaRothIRAarenotdeductiblefromthegrantor’sgrossincome;anddistributionsafter5yearsthataremadewhenthegrantoris59½yearsofageorolderoronaccountofdeath,disability,orthepurchaseofahomebyafirst-timehomebuyer(limitedto$10,000),arenotincludibleingrossincome.

DEFINITIONS

ConversionContributions-IRAConversionContributionsareamountsrolledover,transferred,orconsideredtransferredfromanon-RothIRAtoaRothIRA.Anon-RothIRAisanindividualretirementaccountorannuitydescribedinsection408(a)or408(b),otherthanaRothIRA.

Custodian-TheCustodianmustbeabankorsavingsandloanassociation,asdefinedinsection408(n),oranypersonwhohastheapprovaloftheIRStoactasCustodian.

Depositor-TheDepositoristhepersonwhoestablishesthecustodialaccount.

SPECIFICINSTRUCTIONS

ArticleI.-TheDepositormaybesubjecttoa6percenttaxonexcesscontributionsif(1)contributionstootherindividualretirementarrangementsoftheDepositorhavebeenmadeforthesametaxyear,(2)theDepositor’sadjustedgrossincomeexceedstheapplicablelimitsinArticleIIforthetaxyear,or(3)theDepositor’sandspouse’scompensationdoesnotexceedtheamountcontributedforthemforthetaxyear.

ArticleV.-ThisarticledescribeshowdistributionswillbemadefromtheRothIRAaftertheDepositor’sdeath.ElectionsmadepursuanttothisarticleshouldbereviewedperiodicallytoensuretheycorrespondtotheDepositor’sintent.Underparagraph3ofArticleV,theDepositor’sspouseistreatedastheowneroftheRothIRAuponthedeathoftheDepositor,ratherthanasthebeneficiary. If thespouse istobetreatedasthebeneficiary,andnottheowner,anoverridingprovisionshouldbeaddedtoArticleIX.

ArticleIX.-ArticleIXandanythatfollowitmayincorporateadditionalprovisionsthatareagreedtobytheDepositorandCustodiantocompletetheagreement.Theymayinclude,forexample,definitions,investmentpowers,votingrights,exculpatoryprovisions,amendmentandtermination,removaloftheCustodian,Custodian’sfees,statelawrequirements,beginningdateofdistributions,acceptingonlycash,treatmentofexcesscontributions,prohibitedtransactionswiththeDepositor,etc.

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