Death of Participant Clause Example from Business Contracts

Death of Participant. Any distribution or delivery to be made to Participant under this Award Agreement will, if Participant is then deceased, be made to Participant's designated beneficiary, or if no beneficiary survives Participant or if no beneficiary is designated or permitted to be designated or if the Company determines, in its discretion, that a beneficiary designation is not valid, the administrator or executor of Participant's estate. Any such transferee must furnish the Company with (a) written notice of hi...s or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. View More