Common use of Beneficiary Designation: Change Clause in Contracts

Beneficiary Designation: Change. The Executive shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Plan Administrator or its designated agent. The Executive’s Beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive 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 Executive and accepted by the Plan Administrator prior to the Executive’s death. GREER STATE BANK Amended and Restated Salary Continuation Agreement

Appears in 2 contracts

Samples: Employment Agreement (Greer Bancshares Inc), Employment Agreement (Greer Bancshares Inc)

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Beneficiary Designation: Change. The Executive shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Plan Administrator or its designated agent. The Executive’s Beneficiary 's beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive 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 '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 Executive and accepted by the Plan Administrator prior to the Executive’s 's death. GREER STATE COMMUNITY BANK Amended and Restated OF TRI-COUNTY Salary Continuation Agreement

Appears in 1 contract

Samples: Salary Continuation Agreement (Community Financial Corp /Md/)

Beneficiary Designation: Change. The Executive 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 ExecutiveDirector’s Beneficiary beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive Director or if the Executive Director names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive 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 Executive Director and accepted by the Plan Administrator prior to the ExecutiveDirector’s death. GREER STATE THE FIRST NATIONAL BANK OF MIFFLINTOWN Amended and Restated Salary Continuation Director Revenue Neutral Retirement Agreement

Appears in 1 contract

Samples: Director Revenue Neutral Retirement Agreement (First Community Financial Corp)

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Beneficiary Designation: Change. The Executive shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Plan Administrator or its designated agent. The Executive’s Beneficiary beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive 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 Executive and accepted by the Plan Administrator prior to the Executive’s death. GREER STATE COMMUNITY BANK Amended and Restated OF TRI-COUNTY Salary Continuation Agreement

Appears in 1 contract

Samples: Salary Continuation Agreement (Community Financial Corp /Md/)

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