Beneficiaries Provision

The executive shall be entitled to select (and change, to the extent permitted under the any applicable law) a beneficiary or beneficiaries to receive any compensation or benefit payable hereunder following the executive’s death by giving the company written notice thereof. In the event of the executive’s death or a judicial determination of his incompetence, reference in this agreement to the executive shall be deemed, where appropriate, to refer to his beneficiary, a state or other legal representatives.

General information, not legal advice. Treat this as a drafting starting point, not a finished policy — employment law varies by jurisdiction and changes often, so have a licensed attorney tailor it to your situation before you rely on it.

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