Common use of Director’s Interest Clause in Contracts

Director’s Interest. The Director shall have the right to designate the beneficiary of any remaining death proceeds of the Policy. The Director shall also have the right to elect and change settlement options that may be permitted. Provided, however, the Director, the Director's transferee or the Director's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 upon the Director's Termination of Service prior to Normal Retirement Age.

Director’s Interest. The Director shall have the right to designate the beneficiary of any remaining death proceeds an amount equal to 100 percent of the Net Death Proceeds of the Policy. The Director shall also have the right to elect and change settlement options that may be permitted. Provided, however, the Director, the Director's transferee or the Director's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 upon the Director's Termination of Service prior to Normal Retirement Age.

Director’s Interest. The Director Director, or the Director’s assignee, shall have the right to designate the beneficiary Beneficiary of any remaining an amount of death proceeds equal to eighty percent (80%) of the PolicyNet Death Proceeds. The Director shall also have the right to elect and change settlement options that may be permitted. Provided, however, the Director, the Director's transferee or the Director's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 upon the Director's Termination of Service prior ’s Interest by providing written notice to Normal Retirement Agethe Bank and the Insurer.

Director’s Interest. The Director shall have the right to designate the beneficiary of any remaining death proceeds in the amount of the Policy$100,000. The Director shall also have the right to elect and change settlement options specified in the Policy that may be permitted. Provided, however, the Director, the Director's transferee or the Director's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 upon the Director's Termination of Service prior to Normal Retirement Age.

Director’s Interest. The Subject to the provisions of Article 4, the Director shall have the right to designate the beneficiary of any remaining $100,000 of death proceeds of the Policyproceeds. The Director shall also have the right to elect and change settlement options that may be permitted. Provided, however, the Director, the Director's transferee or the Director's beneficiary shall have no rights or interests in the Policy with respect to that portion of the death proceeds designated in this section 2.2 upon the Director's Termination of Service prior to Normal Retirement Age.