Common use of 2Payment of Benefit Clause in Contracts

2Payment of Benefit. The Company shall pay the aggregate benefit to the Executive in equal monthly installments with each installment equal to 1/12th of the annual benefit defined in Section 2.1.1 above, on the first day of each month commencing with the month following Executive's Termination of Employment on or after the Normal Retirement Date and continuing until the later of the Executive's death or the expiration of 179 additional months. 2.2

2Payment of Benefit. The Company shall pay the aggregate benefit to the Executive (or his beneficiary pursuant to Section 3.2 hereof) in 180 equal consecutive monthly installments with each installment equal to 1/12th of the annual benefit defined in Section 2.1.1 2.2.1 above, on the first day of each month commencing with the month following the Executive's Termination of Employment on or after the Normal Early Retirement Date and continuing until the later of the Executive's death or the expiration of for 179 additional months. 2.22.3

2Payment of Benefit. The Company shall pay the aggregate annual benefit to the Executive in twelve (12) equal monthly installments with each installment equal to 1/12th of the annual benefit defined in Section 2.1.1 above, commencing on the first day of each month commencing with the month following Executive's Termination of Employment on or after the Normal Retirement Date and continuing until the later of the Executive's death or Normal Retirement Date. The annual benefit shall be paid to the expiration of 179 additional months. 2.2Executive for fifteen (15) years.