Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the Bank. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall only be effective if signed by the Executive and accepted by the Bank during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, if no children or descendants survive, to the Executive’s estate.
Appears in 11 contracts
Samples: Salary Continuation Agreement (Acnb Corp), Salary Continuation Agreement (Acnb Corp), Salary Continuation Agreement (Acnb Corp)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 10 contracts
Samples: Salary Continuation Agreement (City National Bancshares Corp), Survivor Income Agreement (Community Banks Inc /Pa/), Deferred Compensation Agreement (Lawrence Financial Holdings Inc)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the Bank. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 9 contracts
Samples: Supplemental Executive Retirement Agreement (Southbanc Shares Inc), Salary Continuation Agreement (High Point Financial Corp), Supplemental Executive Retirement Agreement (Southbanc Shares Inc)
Beneficiary Designations. The Executive shall designate a “primary” and “contingent” beneficiary by filing a written designation with the Bank. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank during the Executive’s lifetime. The ExecutiveA 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children in equal shares per survivor, and the descendants of any deceased child by right of representation, and, if no children or descendants survivesurvivors, to the Executive’s estate.
Appears in 6 contracts
Samples: Salary Continuation Agreement (Federal Trust Corp), Salary Continuation Agreement (Federal Trust Corp), Salary Continuation Agreement (Federal Trust Corp)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, any and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 5 contracts
Samples: Salary Continuation Agreement (Eagle Bancorp Montana, Inc.), Salary Continuation Agreement (Eagle Bancorp Montana, Inc.), Salary Continuation Agreement (Eagle Bancorp Montana, Inc.)
Beneficiary Designations. The Executive shall designate a beneficiary by filing with the Company a written designation with of beneficiary on a form substantially similar to the Bank. form attached as Schedule A. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 4 contracts
Samples: Salary Continuation Agreement (Team Financial Inc /Ks), Salary Continuation Agreement (Team Financial Inc /Ks), Salary Continuation Agreement (Team Financial Inc /Ks)
Beneficiary Designations. The Executive shall designate a beneficiary Beneficiary by filing with the Bank a written designation with of Beneficiary on a form substantially similar to the Bank. form attached as Exhibit A. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank during the Executive’s lifetime. The Unless otherwise communicated to the Bank in writing by the Executive, the Executive’s beneficiary Beneficiary designation shall be deemed automatically revoked if the beneficiary Beneficiary predeceases the Executive, or if the Executive names a spouse as beneficiary Beneficiary and the marriage is subsequently dissolved. If the Executive dies without a valid beneficiary Beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 4 contracts
Samples: Salary Continuation Agreement (Third Coast Bancshares, Inc.), Salary Continuation Agreement (Third Coast Bancshares, Inc.), Salary Continuation Agreement (Third Coast Bancshares, Inc.)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 3 contracts
Samples: Deferred Compensation Agreement (Hf Financial Corp), Survivor Income Agreement (Susquehanna Bancshares Inc), Survivor Income Agreement (Fulton Bancshares Corp)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the Bank. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and to the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Agreement (Sandy Spring Bancorp Inc), Supplemental Executive Retirement Agreement (Sandy Spring Bancorp Inc), Supplemental Executive Retirement Agreement (Sandy Spring Bancorp Inc)
Beneficiary Designations. The Executive shall designate a beneficiary Beneficiary by filing with the Bank a written designation with of Beneficiary on a form substantially similar to the Bank. form attached as Exhibit A. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank during the Executive’s lifetime. The Executive’s beneficiary Beneficiary designation shall be deemed automatically revoked if the beneficiary Beneficiary predeceases the Executive, or if the Executive names a spouse as beneficiary Beneficiary and the marriage is subsequently dissolved. If the Executive dies without a valid beneficiary Beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 3 contracts
Samples: Salary Continuation Agreement (CU Bancorp), Salary Continuation Agreement (CU Bancorp), Salary Continuation Agreement (Washington Banking Co)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the Bank. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and to the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 3 contracts
Samples: Supplemental Executive Retirement Agreement (Sandy Spring Bancorp Inc), Supplemental Executive Retirement Agreement (Sandy Spring Bancorp Inc), Supplemental Executive Retirement Agreement (Sandy Spring Bancorp Inc)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Fulton Bancshares Corp), Salary Continuation Agreement (Fulton Bancshares Corp)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the Bank. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 2 contracts
Samples: Survivor Income Benefit Agreement (PSB Holdings Inc /Wi/), Survivor Income Benefit Agreement (PSB Holdings Inc /Wi/)
Beneficiary Designations. The Executive shall designate a Primary and Contingent beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s beneficiary A beneficiary's 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children in equal shares per survivor, and the descendants of any deceased child by right of representation, and, if no children or descendants survivesurvivors, to the Executive’s 's estate.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Federal Trust Corp), Salary Continuation Agreement (Federal Trust Corp)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Valley National Corp /De/), Salary Continuation Agreement (Community First Bankshares Inc)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall designation will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Firstbank Corp/Id), Salary Continuation Agreement (Firstbank Corp/Id)
Beneficiary Designations. The Executive shall designate a primary and contingent beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s lifetime. The Executive’s beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Executive, or if the Executive executive names a spouse as beneficiary and the marriage is subsequently dissolved. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Sunshine Bancorp, Inc.)
Beneficiary Designations. The Executive shall designate a beneficiary under this Agreement by filing a written designation with the BankCompany in the form of Exhibit A, attached hereto and made a part of this Agreement by reference herein. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s 's beneficiary designation shall be deemed automatically revoked if the beneficiary predeceases the Executive, Executive or if the Executive names a spouse as beneficiary and the marriage is subsequently dissolved. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 1 contract
Samples: Deferred Compensation Agreement (Champion Communication Services Inc)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s lifetime. 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. If if the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 1 contract
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany (See Schedule B). The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 1 contract
Samples: Supplemental Retirement Agreement (United Financial Corp \Mn\)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, if no children or descendants survive, to the Executive’s estate.'s surviving
Appears in 1 contract
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation on an approved form with the Bank. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representationper stirpes, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 1 contract
Samples: Salary Continuation Agreement (Guaranty Bancshares Inc /Tx/)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall a new designation will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 1 contract
Samples: Deferred Compensation Agreement (Cerritos Valley Bancorp)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants decedents of any deceased child by right of representation, and, and if no children or descendants decedents survive, to the Executive’s 's estate.
Appears in 1 contract
Samples: Survivor Income Agreement (East Ridge Bancshares Inc)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without with out a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, survive to the Executive’s 's estate.
Appears in 1 contract
Samples: Deferred Compensation Agreement (Southern Michigan Bancorp Inc)
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s surviving 's surving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 1 contract
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany (See Schedule B). The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted receipt by the Bank during Company of the Executive’s lifetimedesignation. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 1 contract
Samples: Supplemental Retirement Agreement (United Financial Corp \Mn\)
Beneficiary Designations. The Executive shall designate a primary and contingent beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 1 contract
Samples: Supplemental Executive Retirement Plan Agreement (Sunshine Bancorp, Inc.)
Beneficiary Designations. The Executive shall designate a beneficiary Beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, ; and if no children or descendants survive, to the Executive’s Elective's estate.
Appears in 1 contract
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s lifetime. 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 dissolveddissolve. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, and if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 1 contract
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s lifetime. 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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s surviving spouse, if any, and, if none, to the Executive’s surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s estate.
Appears in 1 contract
Beneficiary Designations. The Executive shall designate a beneficiary by filing a written designation with the BankCompany. The Executive may revoke or modify the designation at any time by filing a new designation. However, designations shall will only be effective if signed by the Executive and accepted by the Bank Company during the Executive’s 's lifetime. The Executive’s '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. If the Executive dies without a valid beneficiary designation, all payments shall be made to the Executive’s 's surviving spouse, if any, and, and if none, to the Executive’s 's surviving children and the descendants of any deceased child by right of representation, and, and if no children or descendants survive, to the Executive’s 's estate.
Appears in 1 contract
Samples: Salary Continuation Agreement (United Financial Corp \Mn\)