Common use of Installment method Clause in Contracts

Installment method. The amount of each installment shall be equal to one- 20th (cannot be less than one-twentieth) of the value of the Deferred Compensation Account immediately preceding the first installment payment, plus accrued interest compounded monthly for the current calendar quarter. Installment payments (to be completed only if item ii) – Installment Method is selected above): shall shall not be paid or continue to be paid to the Executive’s spouse after the death of the Executive.

Installment method. The amount of each installment shall be equal to one- 20th (cannot be less than one-twentieth) of the value of the Deferred Compensation Account immediately preceding the first installment payment, plus accrued interest compounded monthly for the current calendar quarter. Installment payments (to be completed only if item ii) – Installment Method is selected aboveabove and you designate your spouse as beneficiary): shall shall not be paid or continue to be paid to the Executive’s spouse after the death of the Executive.