Joint Beneficiary Agreement definition

Joint Beneficiary Agreement shall refer to any agreement between the parties pursuant to which a life insurance policy on the life of Executive is owned by the Bank, and pursuant to which the Bank and Executive’s designated beneficiaries will share in policy proceeds upon Executive’s death.
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Examples of Joint Beneficiary Agreement in a sentence

  • In the event Executive dies prior to Separating from Service, prior to a Change in Control, and prior to becoming Disabled, then all benefit amounts under this Agreement, including all amounts to which Executive and/or his Beneficiaries may have become entitled in the future, shall be forfeited, and any benefits payable upon death shall only be paid pursuant to a Joint Beneficiary Agreement should one exist.

Related to Joint Beneficiary Agreement

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Beneficiary Designation Form means the form established from time to time by the Plan Administrator that the Executive completes, signs, and returns to the Plan Administrator to designate one or more Beneficiaries.

  • Designation Agreement means a designation agreement in substantially the form of Exhibit G attached hereto, entered into by a Bank and a Designated Lender and accepted by the Administrative Agent.

  • Tax Allocation Agreement means the Tax Allocation Agreement between Corporation and New D&B.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Enrollment Agreement means an agreement between the Company and an employee, in such form as may be established by the Company from time to time, pursuant to which the employee elects to participate in this Plan, or elects changes with respect to such participation as permitted under the Plan.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Participating Addendum is defined in Appendix A.

  • Addendum Agreement is defined in Section 8.2.

  • Beneficiary designation means the naming in a governing instrument of a beneficiary of an insurance or annuity policy, of an account with POD designation, of a security registered in beneficiary form (TOD), of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death.

  • Participation Agreement means a written agreement entered into between a Participant and the Employer pursuant to the provisions of Section 4.1

  • EU withdrawal agreement means the withdrawal agreement within the meaning of the European Union (Withdrawal Agreement) Act 2020 (see section 39(1) and (6) of that Act).”,

  • Adoption Agreement means the written agreement pursuant to which the Employer adopts the Plan. The Adoption Agreement is a part of the Plan as applied to the Employer.

  • withdrawal agreement means an agreement (whether or not ratified) between the United Kingdom and the EU under Article 50(2) of the Treaty on European Union which sets out the arrangements for the United Kingdom's withdrawal from the EU.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Separation Agreement has the meaning set forth in the recitals to this Agreement.

  • Termination Letter has the meaning specified in Section 2.17(b).

  • Release Agreement means an agreement, substantially in a form approved by the Company, pursuant to which Executive releases all current or future claims, known or unknown, arising on or before the date of the release against the Company, its subsidiaries and its officers.

  • Master Separation Agreement has the meaning set forth in the recitals.

  • Deferral Agreement means an irrevocable agreement entered into between a Nonemployee Director and the Company to authorize the Company to reduce the amount of the Nonemployee Director’s Annual Retainer and credit the amount of such reduction to the Plan consistent with the requirements of Section 409A of the Code. A Deferral Agreement shall contain such provisions, consistent with the provisions of the Plan, as may be established from time to time by the Company or the Board, including without limitation:

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Transition Agreement has the meaning set forth in Section 12.8.1.

  • Termination Agreement has the meaning set forth in the Recitals.