Benefit Forms and Commencement Clause Samples

Benefit Forms and Commencement. Upon the earliest of the following of (a), (b), (c), or (d) to occur, the Executive shall receive a Life Annuity if he is single on such date, or if he is married on such date he shall receive a Fifty Percent (50%) Joint and Survivor Annuity, paid monthly. The Executive may elect to receive benefits in the form of a Lump Sum or Life Annuity as long as the Executive’s election is made at least 120 days prior to the receipt of any benefits paid under the Plan.