Common use of Designation of Beneficiaries Clause in Contracts

Designation of Beneficiaries. The Executive may name any Person ---------------------------- (who may be named concurrently, contingently or successively) to whom the Benefit Amount under this Agreement is to be paid if the Executive dies before the Benefit Amount is fully distributed. Each such beneficiary designation will revoke all prior designations by the Executive, shall not require the consent of any previously named beneficiary, shall be in a form prescribed by the Company and will be effective only when filed with the Company during the Executive's lifetime. If the Executive fails to designate a beneficiary before his death, as provided in this paragraph, or if the beneficiary designated by the Executive dies before the date of the Executive's death or before complete payment of the Benefit Amount, the Company, in its discretion, may pay the Benefit Amount to either (i) one or more of the Executive's relatives by blood, adoption or marriage and in such proportions as the Company determines, or (ii) the legal representative or representatives of the estate of the last to die of the Executive and his designated beneficiary. Notwithstanding the foregoing, if the Executive is married, the Executive's spouse must consent in writing to the designation of any Person as beneficiary other than the spouse.

Designation of Beneficiaries. The Executive may name any Person ---------------------------- (who may be named concurrently, contingently or successively) to whom the Benefit Amount under this Agreement is to be paid if the Executive dies before the Benefit Amount is fully distributed. Each such beneficiary designation will revoke all prior designations by the Executive, shall not require the consent of any previously named beneficiary, shall be in a form prescribed by the Company and will be effective only when filed with the Company during the Executive's ’s lifetime. If the Executive fails to designate a beneficiary before his death, as provided in this paragraphSection, or if the beneficiary designated by the Executive dies before the date of the Executive's ’s death or before complete payment of the Benefit Amount, the Company, in its discretion, may pay the Benefit Amount to either (i) one or more of the Executive's ’s relatives by blood, adoption or marriage and in such proportions as the Company determines, or (ii) the legal representative or representatives of the estate of the last to die of the Executive and his designated beneficiary. Notwithstanding the foregoing, if the Executive is married, the Executive's ’s spouse must consent in writing to the designation of any Person as beneficiary other than the spouse.

Designation of Beneficiaries. The Executive may name any Person ---------------------------- (who may be named concurrently, contingently or successively) to whom the Benefit Amount under this Agreement is to be paid if the Executive dies before the Benefit Amount is fully distributed. Each such beneficiary designation will revoke all prior designations by the Executive, shall not require the consent of any previously named beneficiary, shall be in a form prescribed by the Company and will be effective only when filed with the Company during the Executive's ’s lifetime. If the Executive fails to designate a beneficiary before his death, as provided in this paragraph, or if the beneficiary designated by the Executive dies before the date of the Executive's ’s death or before complete payment of the Benefit Amount, the Company, in its discretion, may pay the Benefit Amount to either (i) one or more of the Executive's ’s relatives by blood, adoption or marriage and in such proportions as the Company determines, or (ii) the legal representative or representatives of the estate of the last to die of the Executive and his designated beneficiary. Notwithstanding the foregoing, if the Executive is married, the Executive's ’s spouse must consent in writing to the designation of any Person as beneficiary other than the spouse.

Designation of Beneficiaries. The Executive may name any Person ---------------------------- (who may be named concurrently, contingently or successively) to whom the Benefit Amount under this Agreement is to be paid if the Executive dies before the Benefit Amount is fully distributed. Each such beneficiary designation will revoke all prior designations by the Executive, shall not require the consent of any previously named beneficiary, shall be in a form prescribed by the Company and will be effective only when filed with the Company during the Executive's Executives lifetime. If the Executive fails to designate a beneficiary before his death, as provided in this paragraphSection, or if the beneficiary designated by the Executive dies before the date of the Executive's ’s 1 Amounts below to roughly tract the amount of Executive Note used to buy Company Securities. death or before complete payment of the Benefit Amount, the Company, in its discretion, may pay the Benefit Amount to either (i) one or more of the Executive's ’s relatives by blood, adoption or marriage and in such proportions as the Company determines, or (ii) the legal representative or representatives of the estate of the last to die of the Executive and his designated beneficiaryBeneficiary. Notwithstanding the foregoing, if the Executive is married, the Executive's ’s spouse must consent in writing to the designation of any Person as beneficiary other than the spouse.