Payment of Contract Benefits Sample Clauses

Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). Once annuity payments commence, the Annuity Option may not be changed. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. Once annuity payments commence, the form of settlement may not be changed. DESCRIPTION OF ANNUITY OPTIONS Option 1: Life Annuity
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Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). Once annuity payments commence, the Annuity Option may not be changed. The "Life 10-year certain" Annuity Option described under part b) of Options 1 and 2 below will be the default Annuity Option, unless you request another, any time on or before the Maturity Date. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. Once annuity payments commence, the form of settlement may not be changed.
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Payment of Contract Benefits. 15 Schedule Page --------------------------------------------------------- Initial Allocation of Net Premiums: Money Source Separate Account: Carillon Account SUBDIVISIONS OF THE VARIABLE ACCOUNT: [AIM VI CAP APPRECIATION 0]% [AIM VI GROWTH 0] [AXXXX AMERICAN LEVERAGED ALLCAP 0] [AXXXX AMERICAN MIDCAP GROWTH 0] [AM CENTURY VP GROWTH & IN 0] [AM CENTURY VP VALUE 0] [MFS VIT EMERGING GROWTH 0] [MFS VIT INVESTORS TRUST 0] [MFS VIT HIGH INCOME 0] [MFS VIT NEW DISCOVERY 0] [MFS VIT TOTAL RETURN 0] [NXXXXXXXX BXXXXX AMT GUARD 0] [OXXXXXXXXXX GLOBAL SEC/VA 0] [OXXXXXXXXXX MAIN ST/VA 0] [SXXXXXX VSI CAP GROWTH 0] [SXXXXXX VSI INTL 0] [SXXXXXX VSI MONEY MARKET 0] [SXXXXXXX SMALLCAP VALUE CLASS 2 0] [SXXXXXXX COMM & INFO CLASS 2 0] [SUMMIT BALANCED INDEX 0] [SUMMIT BOND 25] [SUMMIT NASDAQ 100 INDEX 0] [SUMMIT RXXXXXX 2000 0] [SUMMIT S&P MID CAP 400 0] [SUMMIT S&P 500 INDEX 0] [SUMMIT ZENITH 25] [FTVIP TXXXXXXXX INTL CLASS 2 0] GUARANTEED ACCOUNT: [50] ------- TOTAL: 100% Transfer Charge: Current: [$10] Maximum: $100 Mortality and Expense Charge: Current: [1.20%] Maximum: 2.00% Administration Fee: Current: [0.25%] Maximum: 0.25% Guaranteed Interest Rate: 3.00% ------------------------------------------------------------- Annuitant: Jxxx Xxx Contract Number: 01234567 Owner: Jxxx Xxx Maturity Date: February 01, 2058 Joint Owner: N/A Contract Date: April 05, 2001 UC 8135-1 - 3 - DEFINITIONS ------------------------------------------------------------- ACCUMULATION Means the period before the maturity date PERIOD and during the lifetime of the annuitant.
Sample 1
Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. DESCRIPTION OF ANNUITY Option 1: Life Annuity OPTIONS
Sample 1
Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us.
Sample 1
Payment of Contract Benefits 
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Related to Payment of Contract Benefits

  • Retirement Benefits Upon the occurrence of the Qualifying --------- ------------------- Date (except as otherwise specifically provided herein), the Bank will pay to the Director $671 per month for a continuous period of 120 months. Such continuous monthly installment payments shall commence on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Qualifying Date shall occur. In the event that the Director should die after becoming entitled to receive such installment payments but before all such payments have been made, the Bank will pay all remaining installment payments to such beneficiary or beneficiaries as the Director has designated in writing to the Bank (the "Beneficiaries"). In the event of the death of the last living Beneficiary before all remaining installment payments have been made, the balance of any payments which remain unpaid at such Beneficiary's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Director, any payments remaining unpaid at the Director's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the Director's estate.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Payment of Benefits Any amounts due under this Agreement shall be paid in one (1) lump sum payment as soon as administratively practicable following the later of: (i) Xx. Xxxxxx'x Termination Date, or (ii) upon Xx. Xxxxxx'x tender of an effective Waiver and Release to the Company in the form of Exhibit A attached hereto and the expiration of any applicable revocation period for such waiver. In the event of a dispute with respect to liability or amount of any benefit due hereunder, an effective Waiver and Release shall be tendered at the time of final resolution of any such dispute when payment is tendered by the Company.

  • Death Benefits Upon the Executive's death during the Contract Period, his estate shall not be entitled to any further benefits under this Agreement.

  • Payment of Compensation Subject to the provisions of this paragraph, payment of the Subadviser's compensation for the preceding month shall be made within 15 days after the end of the preceding month.

  • Standard Benefits During the Employment Period, Executive shall be entitled to participate in all employee benefit plans and programs, including paid vacations, generally available to other similarly situated Company executives, subject to the terms and conditions of the applicable plans.

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Payment of Continued Group Health Plan Benefits If you are eligible for and timely elect continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 or any state law of similar effect (“COBRA”) following your Involuntary Termination, the Company will pay your COBRA group health insurance premiums for you and your eligible dependents directly to the insurer until the earliest of (A) the end of the period immediately following your Involuntary Termination that is equal to the Severance Period (the “COBRA Payment Period”), (B) the expiration of your eligibility for continuation coverage under COBRA, or (C) the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. For purposes of this Section, references to COBRA premiums shall not include any amounts payable by you under a Section 125 health care reimbursement plan under the Code. Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that it cannot pay the COBRA premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then regardless of whether you elect continued health coverage under COBRA, and in lieu of providing the COBRA premiums, the Company will instead pay you on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), which payments shall continue until the earlier of expiration of the COBRA Payment Period or the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. On the first payroll date following the effectiveness of the Release, the Company will make the first payment to the insurer under this clause (and, in the case of the Special Severance Payment, such payment will be to you, in a lump sum) equal to the aggregate amount of payments that the Company would have paid through such date had such payments instead commenced on the date of your Involuntary Termination, with the balance of the payments paid thereafter on the schedule described above. If you become eligible for coverage under another employer’s group health plan, you must immediately notify the Company of such event, and all payments and obligations under this subsection shall cease.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Payment of Deferred Compensation Any compensation that has been earned by the Executive but is unpaid as of the Termination Date, including any compensation that has been earned but deferred pursuant to the Company's Deferred Compensation Plan or otherwise, shall be paid in full to the Executive on the Termination Date.

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