Form of Benefit Payments a. A lump sum payment.
Form of Benefit Payments. (a) Monthly installments, either (i) over the Participant’s or Beneficiary’s life expectancy, whichever is applicable, or (ii) over a period certain equal to the number of years specified by the Participant. Payments that are made over a life expectancy period shall be calculated in the same manner that is prescribed by Treasury Regulations Section 1.401(a)(9)-l through 1.401(a)(9)-9 for determining minimum required distributions and by using the Single Life Table set forth in Section 1.401(a)(9)-9 of the Regulations. Payments that are made over a periodic certain shall be calculated each Plan Year by multiplying the value of the Participant’s Deferred Compensation Account as of the end of the prior Plan Year by a fraction, the numerator of which is one and the denominator of which is the number of years that remain in the period certain elected by the Participant. (b) A lump-sum payment. 5.8
Form of Benefit Payments. The benefit payable under Section 4.1, 4.2, or 4.3 shall be payable for the life of the Participant. Benefits payable under Section 4.4 or 4.5 shall be payable for the life of the surviving spouse.
Form of Benefit Payments. A Participant may elect ----------- ------------------------ the same manner of payment and optional benefits as are provided in ARTICLE V of the Pension Plan, with the following exceptions:
Form of Benefit Payments. (a) Monthly installments, either (i) over the Participant’s or beneficiary’s life expectancy, whichever is applicable, or (ii) for any period certain specified by the Participant.
Form of Benefit Payments. Except as provided in Article VI, a Participant shall be given the option to elect to receive his or her Deferred Compensation Benefit as (a) one lump sum payment, (b) installments, payable over a period of five (5) years, or (c) installments, payable over a period of ten (10) years; provided, however, that in the event a Participant becomes eligible for a distribution of his or her Account as a result of such Participant’s Separation from Service, whether by election or otherwise, or due to the Company’s Change of Control, such Participant’s Account shall be distributed in one (1) lump sum amount. The form of payment in which a Participant’s Deferred Compensation Benefit will be made must be selected on the Participant’s Agreement. If the Participant’s Agreement does not provide for a form of payment, then the Participant’s Deferred Compensation Benefit shall be paid in a single lump sum. If the Participant’s Account is credited with Deferred Compensation Benefits pursuant to two or more Agreements that do not provide for the same form of payment, then a proportionate amount of the Participant’s Deferred Compensation Benefit attributable to each individual Agreement shall be paid in the form provided under each respective Agreement, in accordance with the procedures established by the Administrator.
Form of Benefit Payments. Except as provided in Article VI, a Participant shall be given the option to elect to receive his or her Deferred Compensation Benefit as (a) one lump sum payment, (b) installments, payable over a period of five (5) years, or (c) installments, payable over a period of ten (10) years. The form that a Participant’s Deferred Compensation Benefit will be paid in, must be selected on the Participant’s Agreement. If the Participant’s Agreement does not provide for a form of payment, then the Participant’s Deferred Compensation Benefit shall be paid in a single lump-sum. If the Participant has negotiated two or more Agreements that do not provide for the same form of payment, then a proportionate amount of the Participant’s Deferred Compensation Benefit attributable to each individual Agreement shall be paid in the form provided under both this Section 5.2 and each respective Agreement in accordance with the procedures established by the Administrator.
Form of Benefit Payments. Except as provided in Article VI, a Participant shall be given the option to elect to receive his or her Deferred Compensation Benefit as (a) one lump-sum payment, (b) installments, payable over a period of five (5) years, or (c) installments, payable over a period of ten (10) years. The form of payment in which a Participant’s Deferred Compensation Benefit will be made must be selected on the Participant’s Agreement. If the Participant’s Agreement does not provide for a form of payment, then the Participant’s Deferred Compensation Benefit shall be paid in a single lump sum. If the Participant’s Account is credited with Deferred Compensation Benefits pursuant to two or more Agreements that do not provide for the same form of payment, then a proportionate amount of the Participant’s Deferred Compensation Benefit attributable to each individual Agreement shall be paid in the form provided under each respective Agreement, in accordance with the procedures established by the Administrator.
Form of Benefit Payments. The Full Monthly Benefit or the Reduced Monthly Benefit, as applicable, shall be payable to Executive pursuant to Section 2, 3, 4, or 5 hereof in the form of a joint and 100% survivor annuity, such that the Full Monthly Benefit or Reduced Monthly Benefit, as applicable, will be payable to Executive during his lifetime, and upon Executive's death to his spouse for her lifetime if she survives him, commencing on the first day of the first full calendar month following Executive's termination of employment and on the first day of each succeeding calendar month. No actuarial reduction shall be made to the Full Monthly Benefit or Reduced Monthly Benefit by virtue of the joint and 100% survivor feature.
Form of Benefit Payments. All payments shall be in cash except that the Trustee may, at the direction of the Secretary of the Company or other administrator appointed for purposes of this Trust by the Human Resources and Compensation Committee of the Company's Board of Directors (the "Committee"), distribute assets held in the Trust including Shares. For the purpose of making cash payments or to satisfy various withholding or other obligations hereunder, if all or part of the principal of the Trust shall consist of securities (including Shares) or other property which do not have a readily ascertainable market value, the Company may purchase from the 9 9 Trust (or it may substitute new assets for) such assets at its option for the amount it then designates as the market value; provided that the Secretary shall certify to the Trustee that such market value as been determined on the same basis utilized for purposes of valuing the Trust Fund as provided in Section 1.1. of this Agreement. The Trustee may conclusively, without further inquiry, rely upon the value determined by the Company and the Secretary.
