Beneficiary Designation Clause Example from Business Contracts

Beneficiary Designation. The Participant may from time to time name any beneficiary or beneficiaries (who may be named contingently or successively) to whom shall be delivered or paid under this Agreement following the Participant's death any shares of Class A Common Stock that are distributable or cash payable hereunder in respect of the Units and cash distributable hereunder in respect of the Cash Dividend Rights at the time specified in Section 4 hereof or, if applicable, Section 6 hereof. Each designation will revok...e all prior designations, shall be in a form prescribed by the Board, and will be effective only when filed in writing with the Board during the Participant's lifetime. In the absence of any such effective designation, shares issuable and cash payable in connection with the Participant's death shall be paid to the Participant's surviving spouse, if any, or otherwise to the Participant's estate. View More