Common use of Death of Officer Clause in Contracts

Death of Officer. If the Officer is entitled to receive a Termination Payment and dies before receiving the Termination Payment, the Company will pay the Termination Payment to his or her beneficiary as designated in writing by the Officer or, in the absence of such written designation, his or her estate. The Officer shall designate in writing a beneficiary or beneficiaries to receive the Termination Payment hereunder. The Officer may revoke or change his or her designation of a beneficiary at any time by written notice to the Company.