Dell 2000 Annual Report Download - page 56

and void and the immediately preceding election shall apply to
the Participant's distribution. A Participant who does not
elect to change his current elected (or deemed elected) form
of benefit payment with respect to future allocations to such
Participant's Accounts as of any such January 1 shall not be
entitled to change his elected form of benefit until the
subsequent January 1st. If a Participant elected to receive
his benefit payment in one or more different forms of payment
prior to January 1, 2000, such Participant shall receive his
distribution pursuant to the most recent form of distribution
elected by the
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Participant; provided, however, if no such election is on file
with the Committee, his distribution shall be made in the form
elected of a single lump sum payment, unless such Participant
elects to file a new election under Subsection (a) above.
(d) If a Participant dies prior to the date the payment of his
benefit begins or is completed, such benefit shall be paid to
such Participant's beneficiary designated in accordance with
Section 8.5 in a single lump payment, notwithstanding any
other form of payment elected by such Participant.
(e) The preceding Subsections notwithstanding, if the Section 8.2
event triggering payment of a Participant's benefit is a
Change of Control, such benefit shall be paid to such
Participant in a single lump sum cash payment as soon as
administratively practicable after such Change of Control.
(f) Notwithstanding any provision of the Plan to the contrary, the
Committee may, in its sole and absolute discretion, distribute
a Participant's benefit in the form of a single lump sum
payment notwithstanding any other form of distribution elected
by the Participant.
8.5 DESIGNATION OF BENEFICIARIES.
(a) Each Participant shall have the right to designate the
beneficiary or beneficiaries to receive payment of his benefit
in the event of his death. Each such designation shall be made
by executing the beneficiary designation form prescribed by
the Committee and filing such form with the Committee during
the life of such Participant. Any such beneficiary designation
may be changed at any time by execution and filing of a new
designation in accordance with this Subsection. The preceding
notwithstanding, (i) if a Participant has designated his
spouse as his beneficiary, such designation shall be void and
of no effect upon the divorce of the Participant and such
spouse, unless the Participant notifies the Committee to the
contrary in writing after the date of such divorce, and (ii)
if a Participant who is married on the date of his death has
designated an individual or entity other than his surviving
spouse as his beneficiary, such designation shall not be valid
unless (a) such surviving spouse has consented thereto in
writing, and such consent (1) acknowledges the effect of such
specific designation, (2) either consents to the specific
designated beneficiary (which designation may not subsequently
be changed by the Participant without spousal consent) or
expressly permits such designation by the Participant without
the requirement of further consent by such spouse, and (3) is
witnessed by a Plan representative (other than the
Participant) or a notary public or (b) the consent of such
spouse cannot be obtained because such spouse cannot be
located or because of other circumstances that the Committee
in its discretion determines warrants a waiver of such
consent. Any such consent by such surviving spouse shall be
irrevocable.
(b) If at the time of the death of the Participant no designated
beneficiary is on file with the Committee, or such beneficiary
designation is not valid or effective for any reason as
determined by the Committee, then the designated beneficiary
or beneficiaries to receive such benefit shall be as follows:
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(1) If a Participant has a surviving spouse at the time
of such Participant's death, his designated
beneficiary shall be such surviving spouse;