Beneficiaries Clause Example from Business Contracts

Beneficiaries. No Award shall be transferable other than by the laws of descent and distribution. The Participant may file with the Committee a written designation of a beneficiary in the event of Participant's death on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Participant, the legal representative of the Participant's estate shall be deemed to be the Participant's beneficiary.