Common use of Director’s Interest Clause in Contracts

Director’s Interest. The Director shall have the right to designate the beneficiary(ies) of death proceeds in accordance with the Director Retirement Agreement. In the event of the Insured's death, then the Insured's Beneficiary(ies) shall be entitled to the benefit as set forth in the Endorsement.

Director’s Interest. The Director shall have the right to designate the beneficiary(ies) of death proceeds in accordance with the Director Retirement Agreement. In the event of the Insured's death, then the Insured's Beneficiary(ies) shall be entitled to the benefit amount of Split Dollar Death Benefits at the age of death as set forth in the EndorsementSchedule C attached hereto.