AMOUNT AND FORM OF BENEFIT PAYMENTS Sample Clauses

AMOUNT AND FORM OF BENEFIT PAYMENTS. We must have Notification no later than the last Valuation Date in the month which begins two months before the Annuity Commencement Date of the percentage of the aggregate Investment Accounts which correlate to the Plan Participant to be applied under Article IVA which is to provide Variable Annuity Payments as determined pursuant to the Plan. Variable Annuity Payments will be provided by the Investment Accounts which correlate to the Plan Participant held under the Common Stock Division of Separate Account B. Therefore, before any annuity may begin, any amount which is to be used to provide Variable Annuity Payments will be transferred to Investment Accounts held under the Common Stock Division of such account as of 4A--3;TDSA-VA1;9203 the last Valuation Date in the month which begins two months before the Annuity Commencement Date. After any such transfer, the value of the Capital Accumulation Division Investment Accounts will be applied on the Annuity Purchase Date to provide Variable Annuity Payments. The Annuity Commencement Date will be the first day of a month. If an annuity is purchased under this contract, the Capital Accumulation Division will be available for purposes of the annuity even if you choose not to offer the Capital Accumulation Division as an investment option for the Investment Accounts which correlate to Plan Participants. The amount of the first Variable Annuity Payment shall be determined by us based on
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AMOUNT AND FORM OF BENEFIT PAYMENTS 
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Related to AMOUNT AND FORM OF BENEFIT PAYMENTS

  • Amount of Benefits The vested amount credited to a Participant’s Account as determined under Articles 6, 7 and 8 shall determine and constitute the basis for the value of benefits payable to the Participant under the Plan.

  • Payment of Benefit The Company shall pay the annual benefit to the Executive in 12 equal monthly installments commencing with the month following the Executive’s Normal Retirement Date, paying the annual benefit to the Executive for a period of 15 years.

  • 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.

  • Amount of Benefit The annual benefit under this Section 3.1 is the Normal Retirement Benefit amount described in Section 2.1.1.

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Death Subsequent to Commencement of Benefit Payments In the event the Executive dies while receiving payments, but prior to receiving all payments due and owing hereunder, the Employer shall pay the Beneficiary the same amounts at the same times as the Employer would have paid the Executive, had the Executive survived.

  • Distribution of Benefits Payment to Executive shall occur within thirty (30) days of the effective date of Executive's vesting in his Deferred Bonus Account. For purposes of determining the distributable amount, the Deferred Bonus Account shall be valued through the day prior to the day on which the Deferred Bonus Account is distributed, less any claim, debt, reimbursement, recoupment, or offset the Company may have against Executive.

  • Basis of Payment of Benefits Direct payment by the Insurer is the basis of payment of benefits under this Agreement, with those benefits in turn being based on the payment of premiums as provided in this Agreement.

  • Distribution of Benefit The Bank shall distribute the annual benefit to the Executive in twelve (12) equal monthly installments commencing on the first day of the month following Separation from Service. The annual benefit shall be distributed to the Executive for fifteen (15) years.

  • Continuation of Benefits Following the termination of Executive’s employment hereunder, the Executive shall have the right to continue in the Company’s group health insurance plan or other Company benefit program as may be required by COBRA or any other federal or state law or regulation.

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