Common use of Designation of Beneficiary or Beneficiaries Clause in Contracts

Designation of Beneficiary or Beneficiaries. As to any payment to be made under this Agreement to a beneficiary designated by Executive, it is agreed that Executive shall designate such beneficiary (or beneficiaries) or change his designation of such beneficiary (or beneficiaries) from time-to-time by written notice to the Company. In the event Executive fails to designate a beneficiary (or beneficiaries) as herein provided, any payments which are to be made to Executive's designated beneficiary (or beneficiaries) under this Agreement shall be made to Executive's widow, if any, during her lifetime, thereafter to his issue, if any, including legally adopted children, and then to Executive's personal representative.

Designation of Beneficiary or Beneficiaries. As to any payment to be made under this the Agreement to a beneficiary designated by the Executive, it is agreed that the Executive shall designate such beneficiary (or beneficiaries) or change his designation of such beneficiary (or beneficiaries) from time-to-time by written notice to the Company. In the event the Executive fails to designate a beneficiary (or beneficiaries) as herein provided, any payments which are to be made to the Executive's designated beneficiary (or beneficiaries) under this the Agreement shall be made to the Executive's widow, if any, during her lifetime, thereafter to his issue, if any, including legally adopted children, and then to the Executive's personal representative.