II SÉRIE-A — NÚMERO 78 64

a) The account is subject to regulation as a personal retirement account or is part of a registered or regulated

retirement or pension plan for the provision of retirement or pension benefits (including disability or death

benefits);

b) The account is tax-favored (i.e., contributions to the account that would otherwise be subject to tax under

the laws of Portugal are deductible or excluded from the gross income of the account holder or taxed at a reduced

rate, or taxation of investment income from the account is deferred or taxed at a reduced rate);

c) Annual information reporting is required to the tax authorities in Portugal with respect to the account;

d) Withdrawals are conditioned on reaching a specified retirement age of the account holder, disability, death,

or the conditions specified in Decree-Law 158/2002 or Decree-Law 12/2006, or penalties apply to withdrawals

made before such specified events; and

e) Either (i) annual contributions are either limited to $50,000 or less or do not exceed $50,000, or (ii) there

is a maximum lifetime contribution limit to the account of $1,000,000 or less, in each case applying the rules set

forth in Annex I for account aggregation and currency translation.

2. Non-Retirement Savings Accounts. An account maintained in Portugal (other than an insurance contract

or Annuity Contract) that satisfies the following requirements under the laws of Portugal.

a) The account is subject to regulation as a savings vehicle for purposes other than for retirement;

b) The account is tax-favored (i.e., contributions to the account that would otherwise be subject to tax under

the laws of Portugal are deductible or excluded from the gross income of the account holder or taxed at a reduced

rate, or taxation of investment income from the account is deferred or taxed at a reduced rate);

c) Withdrawals are conditioned on meeting specific criteria related to the purpose of the savings account (for

example, the provision of educational or medical benefits), or penalties apply to withdrawals made before such

criteria are met; and

d) Annual contributions are either limited to $50,000 or less or do not exceed $50,000, applying the rules set

forth in Annex I for account aggregation and currency translation.

B. Certain Term Life Insurance Contracts. A life insurance contract maintained in Portugal with a coverage

period that will end before the insured individual attains age 90, provided that the contract satisfies the following

requirements:

1. Periodic premiums, which do not decrease over time, are payable at least annually during the period the

contract is in existence or until the insured attains age 90, whichever is shorter;

2. The contract has no contract value that any person can access (by withdrawal, loan, or otherwise) without

terminating the contract;

3. The amount (other than a death benefit) payable upon cancellation or termination of the contract cannot

exceed the aggregate premiums paid for the contract, less the sum of mortality, morbidity, and expense charges

(whether or not actually imposed) for the period or periods of the contract’s existence and any amounts paid prior

to the cancellation or termination of the contract; and

4. The contract is not held by a transferee for value.

C. Account Held By an Estate.An account maintained in Portugal that is held solely by an estate if the

documentation for such account includes a copy of the deceased’s will or death certificate.

D. Escrow Accounts.An accountmaintained in Portugal established in connection with any of the following:

1. A court order or judgment.

2. A sale, exchange, or lease of real or personal property, provided that the account satisfies the following

requirements:

a) The account is funded solely with a down payment, earnest money, deposit in an amount appropriate to

secure an obligation directly related to the transaction, or a similar payment, or is funded with a financial asset

that is deposited in the account in connection with the sale, exchange, or lease of the property;