Common use of Calculation of Lump Sum Payment Clause in Contracts

Calculation of Lump Sum Payment. Calculation of any lump sum payable under this Section 2.1.3 shall be the present value of the Normal Retirement Benefit based upon fifteen (15) years of monthly installment payments, which are to be calculated commencing with the date of the first payment received by the Executive under Section 2.1 of this Agreement, less any monthly payments already received by the Executive under Section 2.1 of this Agreement;

Calculation of Lump Sum Payment. Calculation of any lump sum payable under this Section 2.1.3 2.1.2.1 shall be the present value of the Normal Retirement Benefit based upon fifteen (15) 15 years of monthly installment payments, which are to be calculated commencing with the date of the first payment received by the Executive under Section 2.1 of this Agreement, less any monthly payments already received by the Executive under Section 2.1 of this Agreement;.