Common use of Beneficiary Designation: Change Clause in Contracts

Beneficiary Designation: Change. The Director shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Plan Administrator or its designated agent. The Director’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Director or if the Director names a spouse as Beneficiary and the marriage is subsequently dissolved or if the benefit is relinquished pursuant to a settlement agreement. The Director shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Director and accepted by the Plan Administrator prior to the Director’s death.

Appears in 5 contracts

Samples: Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp), Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp), Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp)

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Beneficiary Designation: Change. The Director shall designate a Beneficiary by completing and signing the Beneficiary Designation FormForm and Spousal Consent, as necessary and delivering it to the Plan Administrator or its designated agent. The Director’s beneficiary Beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Director or if the Director names a spouse as Beneficiary and the marriage is subsequently dissolved or if the benefit is relinquished pursuant to a settlement agreementdissolved. The Director shall have the right to change a Beneficiary by completing, signing signing, and otherwise complying with the terms of the Beneficiary Designation Form Form, Spousal Consent, as necessary and the Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation FormForm and Spousal Consent, as necessary, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Director and accepted by the Plan Administrator prior to before the Director’s death.

Appears in 5 contracts

Samples: Director Elective Income Deferral Agreement (Capital Corp of the West), Director Elective Income Deferral Agreement (Capital Corp of the West), Director Elective Income Deferral Agreement (Capital Corp of the West)

Beneficiary Designation: Change. The Director Executive shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, Form and delivering it to the Plan Administrator or its designated agent. The DirectorExecutive’s beneficiary designation of a particular Beneficiary shall be deemed automatically revoked if that Beneficiary predeceases the Executive, and designation of a spouse as Beneficiary shall be deemed automatically revoked if the Beneficiary predeceases the Director or if the Director names a marriage to that spouse as Beneficiary and the marriage is subsequently dissolved or if the benefit is relinquished pursuant to a settlement agreementdissolved. The Director Executive shall have the right to change a Beneficiary by completing, signing signing, and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Director Executive and accepted by the Plan Administrator prior to before the DirectorExecutive’s death.

Appears in 4 contracts

Samples: Salary Continuation Agreement (Paragon Commercial CORP), Salary Continuation Agreement (Paragon Commercial CORP), Salary Continuation Agreement (Paragon Commercial CORP)

Beneficiary Designation: Change. The Director shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Plan Administrator or its designated agent. The Director’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Director or if the Director names a spouse as Beneficiary and the marriage is subsequently dissolved or if the benefit is relinquished pursuant to a settlement agreement. The Director shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Director and accepted by the Plan Administrator prior to the Director’s death.. THE NATIONAL UNION BANK OF KINDERHOOK Phantom Stock Appreciation Rights Agreement

Appears in 2 contracts

Samples: Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp), Phantom Stock Appreciation Rights Agreement (Kinderhook Bank Corp)

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Beneficiary Designation: Change. The Director Directors shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Plan Administrator or its designated agent. The Director’s 's beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Director or if the Director names a spouse as Beneficiary and the marriage is subsequently dissolved or if the benefit is relinquished pursuant to a settlement agreementdissolved. The Director shall Directors hall have the right to change a Beneficiary by completing, signing and otherwise complying Mid Penn Bank Director Deferred Fee Agreement Exhibit 10.13 with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Director and accepted by the Plan Administrator prior to the Director’s death.

Appears in 1 contract

Samples: Director Deferred Fee Agreement (Mid Penn Bancorp Inc)

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