Common use of Beneficiary Designations Clause in Contracts

Beneficiary Designations. The Participant shall file with the Corporate Secretary of the Company a designation of one or more beneficiaries (each a "Beneficiary") to whom the Option otherwise exercisable by the Participant shall be distributed in the event of the death of the Participant while in the employ of the Company. The Participant shall have the right to change the Beneficiary or Beneficiaries from time to time; provided, however, that any change shall not become effective until received in writing by the Secretary of the Company. If any designated Beneficiary survives the Participant but dies before receiving all of his benefits hereunder, any remaining benefits due him shall be distributed to the deceased Beneficiary's estate. If there is no effective Beneficiary designation on file at the time of the Participant's death, or if the designated Beneficiary or Beneficiaries have all predeceased such Participant, the payment of any remaining benefits shall be made to the Participant's estate.

Appears in 18 contracts

Samples: Incentive Stock Option Agreement (Lowrance Electronics Inc), Nonqualified Stock Option Agreement (Lowrance Electronics Inc), Incentive Stock Option Agreement (Lowrance Electronics Inc)

AutoNDA by SimpleDocs

Beneficiary Designations. The Participant shall file with the Corporate Secretary of the Company a designation of one or more beneficiaries (each a "Beneficiary") to whom the Option shares otherwise exercisable by due the Participant shall be distributed in the event of the death of the Participant while in the employ of the CompanyCompany or an Affiliate. The Participant shall have the right to change the Beneficiary or Beneficiaries from time to time; provided, however, that any change shall not become effective until received in writing by the Corporate Secretary of the Company. If any designated Beneficiary survives the Participant but dies before receiving all of his benefits hereunder, any remaining benefits due him shall be distributed to the deceased Beneficiary's estate. If there is no effective Beneficiary designation on file at the time of the Participant's death, or if the designated Beneficiary or Beneficiaries have all predeceased such Participant, the payment of any remaining benefits shall be made to the Participant's estate.

Appears in 10 contracts

Samples: Restricted Stock Award Agreement (Reading & Bates Corp), Restricted Stock Award Agreement (Reading & Bates Corp), Restricted Stock Award Agreement (Reading & Bates Corp)

Beneficiary Designations. The Participant shall file with the Corporate Secretary Human Resources Department of the Company a designation of one or more beneficiaries (each a "Beneficiary") to whom the Option shares otherwise exercisable by due the Participant shall be distributed in the event of the death of the Participant while in the employ of the CompanyCompany or an Affiliate. The Participant shall have the right to change the Beneficiary or Beneficiaries from time to time; provided, however, that any change shall not become effective until received in writing by the Corporate Secretary of the Company. If any designated Beneficiary survives the Participant but dies before receiving all of his benefits hereunder, any remaining benefits due him shall be distributed to the deceased Beneficiary's estate. If there is no effective Beneficiary designation on file at the time of the Participant's death, or if the designated Beneficiary or Beneficiaries have all predeceased such Participant, the payment of any remaining benefits shall be made to the Participant's estate.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (Reading & Bates Corp), Restricted Stock Award Agreement (Reading & Bates Corp), Restricted Stock Award Agreement (Reading & Bates Corp)

Beneficiary Designations. The Participant shall file with the Corporate Secretary of the Company a written designation of one or more beneficiaries his beneficiary (each a "“Designated Beneficiary") to whom the Option Restricted Stock otherwise exercisable by due the Participant shall be distributed in the event of the death of the Participant while in the employ of the CompanyParticipant’s death. The Participant shall have the right to change the Designated Beneficiary or Beneficiaries from time to time; , provided, however, that any change shall not become effective until received in writing by the Secretary of the Company. If any designated Designated Beneficiary survives shall survive the Participant but dies shall die before receiving all of his benefits hereunderthe Restricted Stock under the Plan, any remaining benefits Restricted Stock due him the Participant shall be distributed to the deceased Designated Beneficiary's ’s estate. If there is no effective Designated Beneficiary designation on file at the time of the Participant's ’s death, or if the designated Designated Beneficiary or Beneficiaries have all has predeceased such Participant, the payment of any remaining benefits shall be made to the Participant's ’s estate.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Abraxas Petroleum Corp), Restricted Stock Award Agreement (Abraxas Petroleum Corp), Restricted Stock Award Agreement (Abraxas Petroleum Corp)

Beneficiary Designations. The Participant shall file with the Corporate Secretary of the Company a designation of one or more beneficiaries (each a "Beneficiary") to whom the Option shares otherwise exercisable by due the Participant shall be distributed in the event of the death of the Participant while in the employ of the CompanyParticipant. The Participant shall have the right to change the Beneficiary or Beneficiaries from time to time; provided, however, that any change shall not become effective until received in writing by the Secretary of the Company. If any designated Beneficiary survives the Participant but dies before receiving all of his benefits hereunder, any remaining benefits due him shall be distributed to the deceased Beneficiary's ’s estate. If there is no effective Beneficiary designation on file at the time of the Participant's ’s death, or if the designated Beneficiary or Beneficiaries have all predeceased such Participant, the payment of any remaining benefits shall be made to the Participant's ’s estate.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Pogo Producing Co), Restricted Stock Award Agreement (Pogo Producing Co)

AutoNDA by SimpleDocs

Beneficiary Designations. The person designated by the Participant shall file with as his or her beneficiary(ies) on the Corporate Secretary of the Company a designation of one or more beneficiaries signature page hereof (each a "Beneficiary") to whom the Option shall receive any distribution of vested shares otherwise exercisable by due the Participant shall be distributed in the event of the death of the Participant while in the employ prior to receipt of the Companysuch shares. The Participant shall have the right to change the Beneficiary or Beneficiaries from time to time; provided, however, that any change shall not become effective until received in writing by the Secretary of the Company. If any designated Beneficiary survives the Participant but dies before receiving all of his benefits hereunder, any remaining benefits due him shall be distributed to the deceased Beneficiary's ’s estate. If there is no effective Beneficiary designation on file at the time of the Participant's ’s death, or if the designated Beneficiary or Beneficiaries have all predeceased such Participant, the payment of any remaining benefits shall be made to the Participant's ’s estate.

Appears in 2 contracts

Samples: Officer Restricted Stock Agreement (Emergency Medical Services CORP), Restricted Stock Agreement (Emergency Medical Services CORP)

Beneficiary Designations. The Participant shall file with the Corporate Secretary of the Company a designation of one or more beneficiaries (each a "Beneficiary") to whom the Option shares otherwise exercisable by due the Participant shall be distributed in the event of the death of the Participant while in the employ of the Company. The Participant shall have the right to change the Beneficiary or Beneficiaries from time to time; provided, however, that any change shall not become effective until received in writing by the Secretary of the Company. If any designated Beneficiary survives the Participant but dies before receiving all of his benefits hereunder, any remaining benefits due him shall be distributed to the deceased Beneficiary's estate. If there is no effective Beneficiary designation on file at the time of the Participant's death, or if the designated Beneficiary or Beneficiaries have all predeceased such Participant, the payment of any remaining benefits shall be made to the Participant's estate.

Appears in 1 contract

Samples: Restricted Stock Agreement (Bayard Drilling Technologies Inc)

Beneficiary Designations. The Participant shall may file with the Corporate Secretary of the Company a designation of one or more beneficiaries (each a "Beneficiary") to whom the Option shares otherwise exercisable by due the Participant shall be distributed in the event of the death of the Participant while in the employ of the Company. The Participant shall have the right to change the Beneficiary or Beneficiaries from time to time; provided, however, that any change shall not become effective until received in writing by the Corporate Secretary of the Company. If any designated Beneficiary survives the Participant but dies before receiving all of his benefits hereunder, any remaining benefits due him shall be distributed to the deceased Beneficiary's estate. If there is no effective Beneficiary designation on file at the time of the Participant's death, or if the designated Beneficiary or Beneficiaries have all predeceased such Participant, the payment of any remaining benefits shall be made to the Participant's estate.. In the event

Appears in 1 contract

Samples: Award Incentive Agreement (Oceaneering International Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.