Intel 1998 Annual Report Download - page 28

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year, calculated using the balance in the Account at the beginning of the calendar year (or, in the case of the first calendar year, on the Early
Benefit Distribution Date or the date of the Termination Event) and dividing it by the total number of annual payments remaining in the entire
payment period. The benefit payment amount shall be adjusted at the beginning of each calendar year. The Account shall continue to be
credited during the payment period with gains and losses as provided in Section 4.2.
SECTION 7.2 DEATH BENEFITS.
(a) In the event a Participant dies after commencement of payment of Benefits, the remaining benefit payments, if any, shall be paid to the
Participant's Beneficiary in the same manner such Benefits would have been paid if the Participant had survived.
(b) In the event a Participant dies prior to the time benefits commence, the Participant's Benefit shall be paid to the Beneficiary in the form
elected by the Participant.
(c) Any Benefits which become payable under this Article 7 to the surviving spouse of a Participant shall be paid in a manner which will
qualify such Benefits for a marital deduction in the estate of a deceased Participant under the terms of Section 2056 of the Code, and unless
specifically directed by a Participant to the contrary pursuant to an effective beneficiary designation, any portion of a Participant's Benefit
payable to a surviving spouse which remains unpaid at the death of such spouse shall be paid to the spouse's estate.
(d) Each Participant has the right to designate primary and contingent Beneficiaries for Benefits payable under the Plan. A beneficiary
designation by a Participant shall be in writing on a form acceptable to the Company and shall only be effective upon delivery to the Company.
A beneficiary designation may be revoked by a Participant at any time by delivering to the Company either written notice of revocation or a
new beneficiary designation form. The beneficiary designation form last delivered to the Company prior to the death of a Participant shall
control.
(e) In the event there is no beneficiary designation on file with the Company, or all Beneficiaries designated by a Participant have predeceased
the Participant, the benefits payable by reason of the death of the Participant shall be paid to the Participant's spouse, if living; if the Participant
does not leave a surviving spouse, to the Participant's issue by right of representation; or, if there are no such issue then living, to the
Participant's estate. In the event there are Benefits remaining unpaid at the death of a sole Beneficiary and no successor Beneficiary has been
designated, either by the Participant or the Participant's spouse pursuant to Section 7.2(d), the remaining balance of such benefit shall be paid to
the deceased Beneficiary's estate; or, if the deceased Beneficiary is one of multiple concurrent Beneficiaries, such remaining Benefits shall be
paid proportionally to the surviving Beneficiaries.
ARTICLE 8. FUNDING
6.