Avis 2008 Annual Report Download - page 169

ARTICLE VII – BENEFICIARY DESIGNATION
Upon enrollment in the Plan, each Participant shall file with the Committee a written designation of one or more persons as the
Beneficiary who shall be entitled to receive the amount, if any, payable under the Plan upon the Participant’s death. A Participant may,
from time to time, revoke or change his or her Beneficiary designation without the consent of any prior Beneficiary by filing a new such
designation with the Committee on a form designated by the Committee for such purpose. The most recent such designation received by
the Committee shall be controlling and shall be effective upon receipt and acceptance by the Committee; provided, however, that no
designation, or change or revocation thereof, shall be effective unless received by the Committee prior to the Participant’s death.
If no such Beneficiary designation is in effect at the time of a Participant’s death, or if no designated Beneficiary survives the Participant,
or if such designation conflicts with law, the Participant’s estate shall be deemed to have been designated as the Beneficiary and shall
receive the payment of the amount, if any, payable under the Plan upon the Participant’
s death. If the Committee is in doubt as to the right
of any person to receive such amount, the Committee may retain such amount, without liability for any interest thereon, until the rights
thereto are determined, or the Committee may pay such amount into any court of appropriate jurisdiction and such payment shall be a
complete discharge of the obligations of the Employer under the Plan.
If the Committee determines that a Participant or Beneficiary is legally incapable of giving valid receipt and discharge for the payment
due from this Plan, such amounts shall be paid to a duly appointed and acting guardian, if any. If no such guardian is appointed and
acting, the Committee may retain such amount, without liability for any interest thereon, until the rights thereto are determined, or the
Committee may pay such amount into any court of appropriate jurisdiction on behalf of the Participant or Beneficiary and such payment
shall be a complete discharge of the obligations of the Employer under the Plan.
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7.1
Designation
7.2
Failure to Designate Beneficiary
7.3
Payment to Representatives