A Standard Clause providing a definition of benefit plan investor under the plan asset regulations issued by the Department of Labor (DOL) and modified by Section 3(42) of the Employee Retirement Income Security Act of 1974 (ERISA), a statutory provision added under the Pension Protection Act of 2006. This Standard Clause can be inserted into contracts and other agreements related to an ERISA-governed employee benefit plan's investment in alternative investment vehicles. This Standard Clause has integrated notes with important explanations and drafting tips.