Common use of Non-Spouse Designated Beneficiary Clause in Contracts

Non-Spouse Designated Beneficiary. If the Participant's surviving spouse is not the Participant's sole Designated Beneficiary, the Designated Beneficiary's remaining Life Expectancy is calculated using the age of the Beneficiary in the year following the year of the Participant's death, reduced by one for each subsequent year.

Appears in 2 contracts

Samples: Plan and Trust Agreement (Bob Evans Farms Inc), Plan and Trust Agreement (Finisar Corp)

AutoNDA by SimpleDocs

Non-Spouse Designated Beneficiary. If the Participant's surviving spouse is not the Participant's sole Designated Beneficiary, the Designated Beneficiary's remaining Life Expectancy is calculated using the age of the Beneficiary in the year following the year of the Participant's death, reduced by one for each subsequent year.. Defined Contribution Prototype Plan

Appears in 1 contract

Samples: Participation Agreement (Nci Building Systems Inc)

AutoNDA by SimpleDocs

Non-Spouse Designated Beneficiary. If the Participant's ’s surviving spouse is not the Participant's ’s sole Designated Beneficiary, the Designated Beneficiary's ’s remaining Life Expectancy is calculated using the age of the Beneficiary in the year following the year of the Participant's ’s death, reduced by one for each subsequent year.. Defined Contribution Prototype Plan

Appears in 1 contract

Samples: Adoption Agreement (Knowles Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.