Alexi is married to Agatha and has decided to purchase a joint life annuity with a 10-year guarantee. He names their son Joe as the beneficiary of the policy. Joe would like to know when he will be able to receive the annuity payments. Which of the following statements is CORRECT? 

1. Following the deaths of both Alexi and Agatha, regardless of when they die.

2. Following the death of Alexi, if he dies within the next 10 years. 

3. Following the death of Agatha, if she dies within the next 10 years. 

4. Following the death of both Alexi and Agatha within the next 10 years.