Common use of Determination of Beneficiary Clause in Contracts

Determination of Beneficiary. The person or persons who are considered the Employee’s Beneficiary(ies) for purposes of applying the rules of this Section 5.4(b) will be determined as of September 30th of the year following the calendar year of the Employee’s death. No person may be a designated Beneficiary unless he or she was designated as such by the Employee during the Employee’s lifetime; however, such a designated person will not be considered a Beneficiary for purposes of such rules if such person executed a valid disclaimer or received payment of his or her entire interest before the beneficiary determination date.

Determination of Beneficiary. The person or persons who are considered the Employee’s Beneficiary(ies) for purposes of applying the rules of this Section 5.4(b) will be determined as of September 30th of the year following the calendar year of the Employee’s death. No person may be a designated Beneficiary unless he or she was designated as such by the Employee during the Employee’s lifetime; however, such a designated person will not be considered a Beneficiary for purposes of such rules if such person executed a valid disclaimer or received payment of his or her entire interest before the beneficiary determination date.

Determination of Beneficiary. The person or persons who are considered the Employee’s Beneficiary(ies) for purposes of applying the rules of this Section 5.4(b5.5(b) will be determined as of September 30th the last day of the calendar year following the calendar year of the Employee’s death. No person may be a designated Beneficiary unless he or she was designated as such by the Employee during the Employee’s lifetime; however, such a designated person will not be considered con- sidered a Beneficiary for purposes of such rules if such person executed a valid disclaimer or received payment of his or her entire interest before the beneficiary determination date.