ESOP Beneficiary definition
ESOP Beneficiary means the person or persons who are designated by a Participant participating in the ESOP to receive benefits payable under the ESOP on the Participant’s death. In the absence of any designation or if all the designated beneficiaries shall die before the Participant dies or shall die before all benefits payable under the ESOP have been paid, the Participant’s ESOP Beneficiary shall be his surviving spouse (as that term is defined under the ESOP), if any, or his estate if he is not survived by a spouse. The Committee may rely upon the advice of the Participant’s executor or administrator as to the identity of the Participant’s spouse.
ESOP Beneficiary means any beneficiary
ESOP Beneficiary means an ESOP Participant who holds ESOP Allocated Shares in its ESOP account as of the Effective Date.