Common use of Participant Elections and Beneficiary Designations Clause in Contracts

Participant Elections and Beneficiary Designations. Prior to the Effective Time, each participant in a CPLG Benefit Plan shall execute such elections and beneficiary designations as are promulgated by the administrator of each CPLG Benefit Plan. Notwithstanding the foregoing, if and to the extent a CPLG Benefit Plan participant has failed to execute and file an updated election and/or designation, the participant elections and beneficiary designations made under any corresponding LQ Benefit Plan prior to the Effective Time with respect to which Assets or Liabilities are transferred or allocated to CPLG Benefit Plans in accordance with this Agreement shall continue in effect under the applicable CPLG Benefit Plan to the extent permitted under the applicable CPLG Benefit Plan, including deferral and payment form elections, dividend elections, coverage options and levels, beneficiary designations and the rights of alternate payees under qualified domestic relations orders, in each case, to the extent allowed by applicable Law.

Participant Elections and Beneficiary Designations. Prior to the Effective Time, each participant in a CPLG Vectrus Benefit Plan shall execute such elections and beneficiary designations as are promulgated by the administrator of each CPLG Vectrus Benefit Plan. Notwithstanding the foregoing, if and to the extent a CPLG Vectrus Benefit Plan participant has failed to execute and file an updated election and/or designation, the participant elections and beneficiary designations made under any corresponding LQ Exelis Benefit Plan prior to the Effective Time with respect to which Assets or Liabilities are transferred or allocated to CPLG Vectrus Benefit Plans in accordance with this Agreement shall continue in effect under the applicable CPLG Vectrus Benefit Plan to the extent permitted under the applicable CPLG Vectrus Benefit Plan, including deferral and payment form elections, dividend elections, coverage options and levels, beneficiary designations and the rights of alternate payees under qualified domestic relations orders, in each case, to the extent allowed by applicable Law.