DEED OF RETIREMENT OF TRUSTEE

DEED OF RETIREMENT OF TRUSTEE

What this form is for This Deed should be used where a Trustee wishes to retire from his or her duties as a Trustee. Guidance notes please read the following notes carefully as you are responsible for ensuring that this form is completed correctly. Important There may be a requirement to have two Trustees (or a trust corporation) to continue to administer the Trust once the retiring Trustee has given up their duties. There may also be a requirement that at least one of the continuing Trustees is not the Settlor(s), or the current spouse (or registered civil partner) of the Settlor(s). There may be restrictions on a Trustee s ability to retire. It is also not suitable if the Settlor is not one of the existing Trustees. Please check your Trust Deed to see if any of the above are applicable if necessary, please contact us for a copy of the appropriate form. This Deed is not suitable if a sole Trustee is retiring. Please enter details carefully in the allocated spaces. These deeds are legal documents all parties to the Deed must initial any deletion or amendments. All existing Trustees must be named in this Deed, all parties named in this Deed must sign it. Their signatures must be witnessed by an independent witness. The parties to the Deed, or any of their relatives, should not be a witness. Also, a Beneficiary should not be a witness. However, the same independent person may witness all signatures. Whilst every attempt has been made to ensure the accuracy of this Deed, Scottish Widows can accept no liability for the legal effect of this Deed if you are uncertain as to its suitability, independent legal advice should be obtained. Scottish Widows can accept no liability for the tax, financial or other consequences of the decision of the continuing Trustees to accept the retirement of the retiring Trustee. Once you have completed the details, please send this form to: Scottish Widows, 15 Dalkeith Road, Edinburgh EH16 5BU. BOX A DEED OF RETIREMENT OF TRUSTEE Please enter the date the last person signs the execution clause at the end of this Deed. Please give the full name of the retiring Trustee. Please give the full names of the Trustees who are continuing. (There may need to be at least two Trustees (or a trust corporation) who are continuing. If there will be less than two, please complete a Deed of Appointment Retirement of Trustees instead of this form). This Deed of Retirement of Trustee is made on (DD MM YYYY) between Retiring Trustee name First continuing Trustee name Second continuing Trustee name Third continuing Trustee name ( the Continuing Trustees which expression shall mean the one or more persons named above as appropriate)

BOX B BACKGROUND Please give the names of whoever created the original Trust (i.e. the Settlor(s)) the date of the Trust. This deed is supplemental to the declaration of Trust dated (DD MM YYYY) ( the Trust ) made by First Settlor name Second Settlor (if any) name Please note that this deed of retirement affects all the assets of the Trust not just the Policy(ies). Please give the policy number(s) type of policy(ies) (eg term assurance) which are subject to the Trust. The Trust includes in the Trust Fund (as defined in the Trust) the following Scottish Widows Limited policy(ies): Policy number(s) Policy Type The Continuing Trustees the Retiring Trustee are Trustees of the Trust. The Retiring Trustee wishes to retire be discharged from the Trust. The Continuing Trustees wish to continue as Trustees of the Trust. The Appointor is the person or persons among the Continuing Trustees who has the power under the Trust of appointing additional Trustees the Appointor also has the power to release discharge the Retiring Trustee from his trusteeship of the Trust. BOX C OPERATIVE PROVISIONS If the retiring Trustee was appointed a Trustee by a deed of appointment, please give the names of everyone who signed that deed its date. If this is not applicable, please delete the part in square brackets ensure all signatories to this deed initial any deletion in the right h margin. The parties to this deed declare as follows: I, the Retiring Trustee, do hereby declare my wish to be discharged to retire from the office of Trustee under the Trust [to which office of Trustee, I was assumed by Deed of Appointment dated A retiring Trustee s interest in any policy passes automatically to the continuing Trustees under the terms of this Deed. If the Trust holds assets other than policies, it may be necessary to give notice of this Deed to any third party holding the funds, to enter into further documentation to transfer them legally to the continuing Trustees. (delete if inapplicable) Name of first continuing Trustee Name of second continuing Trustee Name of third continuing Trustee (DD MM YYYY)] We, the Continuing Trustees the Appointor, do hereby consent to the foregoing discharge retirement of the Retiring Trustee to the vesting of the Trust Fund in the Continuing Trustees alone.

BOX D SIGNATURES IMPORTANT All Trustees, including the retiring Trustee, must sign the Deed have their signatures witnessed by an independent witness (not a relative or another signatory to the deed, or a Beneficiary). One person may witness all the signatures if convenient but this is not necessary. This the preceding page are signed delivered as a deed by: Retiring Trustee name Retiring Trustee signature First continuing Trustee name First continuing Trustee signature

BOX D SIGNATURES (CONTINUED) Second continuing Trustee name Second continuing Trustee signature Third continuing Trustee name Third continuing Trustee signature Scottish Widows Limited. Registered in Engl Wales No. 3196171. Registered office in the United Kingdom at 25 Gresham Street, London EC2V 7HN. Authorised by the Prudential Regulation Authority regulated by the Financial Conduct Authority the Prudential Regulation Authority. Financial Services Register number 181655. 41449 12/15