Franklin Bank Corp. Deferred Compensation Plan Beneficiary Election Form
This form allows participants in the Franklin Bank Corp. Deferred Compensation Plan to designate or change the beneficiary who will receive the remaining balance of their account in the event of their death. The participant can name a beneficiary, revoke a previous designation, and update their choice at any time by submitting a new form to the Plan Administrator. If no beneficiary is named or the designated beneficiary predeceases the participant, the account balance will go to the participant's estate.
EXHIBIT 10.4
FRANKLIN BANK CORP.
DEFERRED COMPENSATION PLAN
BENEFICIARY ELECTION FORM
SECTION 1. Initial Beneficiary Election. I represent that I have not made a prior beneficiary election pursuant to the Franklin Bank Corp. Deferred Compensation Plan (“Plan”). I understand that in the event of my death before I receive the balance of the “Account” maintained for me under the Plan, the remaining balance (if any) of such Account will be paid in a single sum to the beneficiary or beneficiaries (“Beneficiary”) I designate below, or, if none, or if my designated Beneficiary predeceases me, to my estate. Finally, I understand that I may change my beneficiary designation at any time and that my new Beneficiary designation will take effect upon receipt by the Plan Administrator prior to my death.
I hereby designate:
| as my beneficiary | ||
Printed Name of Beneficiary |
By signing this Beneficiary Election Form, I agree to the terms and conditions of the Plan as it now exists and as it may be amended from time to time.
Date of Election: | ||
| Signature of Participant | ||
| Printed Name of Participant |
SECTION 2: Revocation and Subsequent Beneficiary Election: I represent that I have previously made a beneficiary election under the Plan, and by the completion of this Section 2 and by my signature below, I hereby revoke my previous beneficiary election and make the following beneficiary election. I understand that in the event of my death before I receive the balance of the “Account” maintained for me under the Plan, the remaining balance (if any) of such Account will be paid in a single sum to the beneficiary or beneficiaries (“Beneficiary”) I designate below, or, if none, or if my designated Beneficiary predeceases me, to my estate. Finally, I understand that I may change my beneficiary designation at any time and that my new Beneficiary designation will take effect upon receipt by the Plan Administrator prior to my death.
1
I hereby designate:
| as my beneficiary. | ||
Printed Name of Beneficiary |
Date of Election: | ||
| Signature of Participant | ||
| Printed Name of Participant |
2
