This excerpt taken from the NYX 10-K filed Feb 27, 2009.
DESIGNATION OF BENEFICIARY(IES)
Each Participant under the Plan shall designate a Beneficiary or Beneficiaries to receive any payment which under the terms of the Plan becomes payable on, after or as a result of
the Participants death on his or her Distribution Option Election Form. At any time prior to the Participants death, any such designation may be changed or cancelled by the Participant without the consent of any such beneficiary(ies).
Any such designation, change or cancellation must be on a Distribution Option Election Form and shall not be effective until received and approved by the Administrator. If no Beneficiary(ies) has been designated by a deceased Participant, or if the
designated Beneficiaries have predeceased the Participant, the Beneficiary shall be the Participants estate. If the Participant designates more than one Beneficiary, any payments under the Plan to such Beneficiaries shall be made in equal
shares unless the Participant has expressly designated otherwise, in which case the payments shall be made in the shares designated by the Participant.
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