Example ContractsClausesBeneficiary Designation
Beneficiary Designation
Beneficiary Designation contract clause examples

Beneficiary Designation. The Participant may, pursuant to the Plan and on a form provided by the Company, name one or more beneficiaries to whom vested benefits under this Agreement shall be paid in case of Participant’s death before Participant receives all of such benefits. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to his or her estate.

Beneficiary Designation. The Participant may designate on the attached beneficiary designation the person or persons to receive payment of Vested RSUs in the event of the Participant’s death. In the event the Participant fails to designate a beneficiary, amounts payable in the event of Participant’s death shall be paid to the Participant’s estate.

A Director or former Director may designate a beneficiary to receive distributions from the Plan in accordance with the provisions of Section 7 upon the death of the Director. The beneficiary designation may be changed by a Director or former Director at any time, and without the consent of the prior beneficiary, except as required under applicable law.

Each Non-Employee Director may designate a beneficiary for each outstanding grant of Restricted Stock and for payment of his Deferred Accounts in the event of his death. If no beneficiary is designated or the beneficiary does not survive the Non-Employee Director, the award shall be made to the Non-Employee Director’s surviving spouse or, if there is none, to his estate.

Beneficiary Designation. The Awardee may designate one or more beneficiaries, from time to time, to whom any benefit under this Agreement is to be paid in case of Awardee’s death. Each designation must be in writing, signed by Awardee and delivered to the Company. Each new designation will revoke all prior designations.

Designation of Beneficiary. To the extent permitted by the Company, each grantee to whom an Award has been made under the Plan may designate a beneficiary or beneficiaries to exercise any Award or receive any payment under any Award payable on or after the grantee’s death. Any such designation shall be on a form provided for that purpose by the Administrator and shall not be effective until received by the Administrator. If no beneficiary has been designated by a deceased grantee, or if the designated beneficiaries have predeceased the grantee, the beneficiary shall be the grantee’s estate.

Beneficiary Designation; Change. A participant shall designate his or her Beneficiary by delivering to the Corporate Secretary’s Office a written statement or instructions in a form provided by the Company (the “Beneficiary Designation Form”). A participant shall have the right to change a Beneficiary by completing and otherwise complying with the terms of the Beneficiary Designation Form and the Corporate Secretary’s Office of the Company’s rules and procedures, as in effect from time to time. No Beneficiary Designation Form shall be valid unless accepted by the Corporate Secretary’s Office of the Company. Upon the acceptance by the Corporate Secretary’s Office of the Company of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be canceled. The Corporate Secretary’s Office of the Company shall be entitled to rely on the last Beneficiary Designation Form filed by the participant and accepted by the Corporate Secretary’s Office of the Company prior to the participant’s death.

Designation of Beneficiary. The Optionee shall have the right to appoint any individual or legal entity in writing, on [Exhibit B] hereto, as his beneficiary to receive any Option (to the extent not previously terminated or forfeited) under this Agreement upon the Optionee's death. The Optionee may revoke such designation under this Agreement at any time and the Optionee may appoint a new beneficiary by execution and submission to the Board of a revised [Exhibit B] to this Agreement. In order to be effective, a designation of beneficiary must be completed by the Optionee on [Exhibit B] and received by the Board, or its designee, prior to the date of the Optionee's death. In the absence of such designation, the Optionee's beneficiary shall be the legal representative of the Optionee's estate.

Designation of Beneficiary. Each Participant may designate a beneficiary or beneficiaries (which beneficiary may be an entity other than a natural person) to receive any payments that may be made after the Participant's death. Such designation may be changed or canceled at any time without the consent of any such beneficiary. Any such designation, change or cancellation must be made on a form or in a manner approved by or acceptable to the Committee and shall not be effective until received by the Committee. If no beneficiary has been named, or the designated beneficiary or beneficiaries shall have predeceased the Participant, the beneficiary shall be the Participant's spouse or, if no spouse survives the Participant, the Participant's estate. If a Participant designates more than one beneficiary, the payment shall be made to such beneficiaries in equal shares, unless the Participant has designated otherwise.

An Eligible Employee may file a written designation of a beneficiary who is to receive any shares and cash, if any, from the Eligible Employee 's account under this Plan in the event of such Eligible Employee's death subsequent to the end of an Purchase Period but prior to delivery to him of such shares and cash. In addition, an Eligible Employee may file a written designation of a beneficiary who is to receive any cash from the Eligible Employee 's account under this Plan in the event of such Eligible Employee's death prior to a Purchase Date.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.