PROFIT SHARING PLAN EXCEPTION. If the Plan is a profit sharing plan, the Beneficiary designation of a married Exempt Participant, as described in Section 6.04(H), is not valid unless the Participant's spouse consents (in a manner described in Section 6.05) to the Beneficiary designation. The spousal consent requirement in this Section 8.01(B) does not apply if the Participant's spouse is the Participant's sole primary Beneficiary, or if the Exempt Participant and his/her spouse are not married throughout the one-year period ending on the date of the Participant's death.
Appears in 4 contracts
Samples: 401(k) Plan Adoption Agreement (Petco Animal Supplies Inc), Adoption Agreement (CRH Public LTD Co), Adoption Agreement (Bank of Granite Corp)
PROFIT SHARING PLAN EXCEPTION. If the Plan is a profit sharing plan, the Beneficiary designation of a married Exempt Participant, as described in Section 6.04(H), is not valid unless the Participant's ’s spouse consents (in a manner described in Section 6.05) to the Beneficiary designation. The spousal consent requirement in this Section 8.01(B) does not apply if the Participant's ’s spouse is the Participant's ’s sole primary Beneficiary, or if the Exempt Participant and his/her spouse are not married throughout the one-year period ending on the date of the Participant's ’s death.
Appears in 2 contracts
Samples: Defined Contribution Prototype Plan (Trimeris Inc), Defined Contribution Prototype Plan (MSC Software Corp)
