Executive’s Beneficiaries Clause Samples
The "Executive’s Beneficiaries" clause designates individuals or entities who are entitled to receive certain benefits or payments on behalf of the executive, typically in the event of the executive’s death or incapacity. In practice, this clause allows the executive to name specific beneficiaries who will receive compensation such as unpaid salary, bonuses, or other contractual entitlements if the executive is unable to do so personally. This provision ensures that the executive’s interests are protected and that their chosen recipients receive the intended benefits, thereby providing clarity and certainty regarding the distribution of such payments.
Executive’s Beneficiaries. In the event the Executive dies during the term of this Agreement, any amounts remaining to be paid to the Executive shall be paid to the beneficiary designated by the Executive or, if none, to the Executive’s estate at the same time that they would have been paid to the Executive.