Common use of Beneficiary Designation Clause in Contracts

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Company in which the Executive participates.

Appears in 33 contracts

Samples: Salary Continuation Agreement (First Security Group Inc/Tn), Stock Appreciation Rights Agreement (Greer Bancshares Inc), Salary Continuation Agreement (First Security Group Inc/Tn)

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Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Company Bank in which the Executive participates.

Appears in 21 contracts

Samples: Supplemental Executive Retirement Agreement (North Penn Bancorp, Inc.), Supplemental Executive Retirement Agreement (BCSB Bancorp Inc.), Supplemental Executive Retirement Agreement (BCSB Bancorp Inc.)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation designated under any other benefit plan of the Company Bank in which the Executive participates.

Appears in 4 contracts

Samples: Supplemental Executive Retirement Plan Agreement (Malvern Federal Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Malvern Federal Bancorp Inc), Supplemental Executive Retirement Plan Agreement (Malvern Federal Bancorp Inc)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary Beneficiary designation under any other benefit plan of the Company Bank in which the Executive participates.

Appears in 4 contracts

Samples: Insurance Agreement (MB Bancorp Inc), Insurance Agreement (MB Bancorp Inc), Supplemental Life Insurance Agreement (Bank of Commerce Holdings)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement to a Beneficiary upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary Beneficiary designation under any other benefit plan of the Company in which the Executive participates.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Heritage Oaks Bancorp), Salary Continuation Agreement (Heritage Oaks Bancorp), Salary Continuation Agreement (Heritage Oaks Bancorp)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Company Bank or Bancorp in which the Executive participates.

Appears in 4 contracts

Samples: Continuation Agreement (Service 1st Bancorp), Continuation Agreement (Service 1st Bancorp), Continuation Agreement (Service 1st Bancorp)

Beneficiary Designation. The If applicable, Executive shall have the right, at any time, to designate a Beneficiary(iesany person or persons as his Beneficiary or Beneficiaries (both primary as well as secondary) to receive any whom benefits payable under this Agreement upon shall be paid in the event of his death prior to complete distribution to the Executive of the Executive. The Beneficiary designated benefits due under this Agreement may Agreement. Each Beneficiary designation shall be in a written form and will be effective only when filed with the same as or different from Administrator during the beneficiary designation under any other benefit plan of the Company in which the Executive participatesExecutive’s lifetime.

Appears in 2 contracts

Samples: Santa Lucia Bank (Santa Lucia Bancorp), Santa Lucia Bank (Santa Lucia Bancorp)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(iesany person or persons as his Beneficiary or Beneficiaries (both principal as well as contingent) to receive any benefits payable whom payment under this Agreement upon shall be paid in the event of his death prior to complete distribution of the ExecutiveSupplemental Benefit due him under the Agreement. The Any designation of a Beneficiary designated under this Agreement may shall be the same as or different from the beneficiary designation under any other benefit plan of made in a written instrument filed with the Company and shall be effective only when received in which writing by the Executive participatesCompany.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Agreement (Woronoco Bancorp Inc), Supplemental Executive Retirement Agreement (Woronoco Bancorp Inc)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) Beneficiary to receive any benefits payable benefit distributions under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Company Bank in which the Executive participates.

Appears in 2 contracts

Samples: Salary Continuation Agreement (Home Federal Bancorp, Inc.), Salary Continuation Agreement (Home Federal Bancorp, Inc.)

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Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(iesany person or persons as his Beneficiary or Beneficiaries (both primary as well as secondary) to receive any whom benefits payable under this Agreement upon shall be paid in the event of his death prior to complete distribution to the Executive of the Executive. The Beneficiary designated benefits due under this Agreement may Agreement. Each Beneficiary designation shall be in a written form and will be effective only when filed with the same as or different from Bank during the beneficiary designation under any other benefit plan of the Company in which the Executive participatesExecutive’s lifetime.

Appears in 1 contract

Samples: Supplemental Compensation Agreement (Columbia Banking System Inc)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(iesany person or persons as her Beneficiary or Beneficiaries (both principal as well as contingent) to receive any benefits payable whom payment under this Agreement upon shall be paid in the event of her death prior to complete distribution of the ExecutiveSupplemental Benefit due her under the Agreement. The Any designation of a Beneficiary designated under this Agreement may shall be the same as or different from the beneficiary designation under any other benefit plan of made in a written instrument filed with the Company and shall be effective only when received in which writing by the Executive participatesCompany.

Appears in 1 contract

Samples: Supplemental Executive Retirement Agreement (Woronoco Bancorp Inc)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement upon the death of the Executive. The Beneficiary Beneficiary(ies) designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Company in which the Executive participates.

Appears in 1 contract

Samples: Continuation Agreement (Central Federal Corp)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) Beneficiary to receive any benefits payable benefit distributions under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Company Bank in which the Executive participates.. HOME FEDERAL BANK Third Amended and Restated Salary Continuation Agreement

Appears in 1 contract

Samples: Continuation Agreement (Home Federal Bancorp, Inc.)

Beneficiary Designation. The Executive shall have the right, at any time, to designate a Beneficiary(ies) to receive any benefits payable under this Agreement upon the death of the Executive. The Beneficiary designated under this Agreement may be the same as or different from the beneficiary designation under any other benefit plan of the Company in which the Executive participates.. GREER STATE BANK Salary Continuation Agreement

Appears in 1 contract

Samples: Salary Continuation Agreement (Greer Bancshares Inc)

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