SMALL AMOUNTS. In the event the amount of any monthly payments provided herein shall be less than Twenty ($20) Dollars, the Company in its sole discretion may in lieu thereof pay the commuted value of such payments (calculated on the basis of the interest rate and mortality assumptions being used by The Northwestern Mutual Life Insurance Company of Milwaukee, Wisconsin, to calculate immediate annuity rates on the date of this Agreement) to the person entitled to such payments.
Appears in 9 contracts
Samples: Deferred Compensation Agreement (Wackenhut Corp), Compensation Agreement (Wackenhut Corp), Compensation Agreement (Wackenhut Corp)
SMALL AMOUNTS. In the event the amount of any monthly payments provided herein shall be less than Twenty Dollars ($20) Dollars), the Company in its sole discretion may in lieu thereof pay the commuted value of such payments (calculated on the basis of the interest rate and mortality assumptions being used by The Northwestern Mutual Life Insurance Company of Milwaukee, Wisconsin, to calculate immediate annuity rates on the date of this Agreement) to the person entitled to such payments.
Appears in 3 contracts
Samples: Executive Retirement Agreement (Wackenhut Corrections Corp), Executive Retirement Agreement (Wackenhut Corrections Corp), Executive Retirement Agreement (Wackenhut Corrections Corp)
SMALL AMOUNTS. In the event the amount of any monthly payments provided herein shall be less than Twenty ($20) Dollars, the The Company in its sole discretion may in lieu thereof pay the commuted value of such payments (calculated on the basis of the interest rate and mortality assumptions being used by The Northwestern Mutual Life Insurance Company of Milwaukee, Wisconsin, to calculate immediate annuity rates on the date of this Agreement) to the person entitled to such payments.
Appears in 3 contracts
Samples: Senior Officer Retirement Agreement (Wackenhut Corp), Senior Officer Retirement Agreement (Wackenhut Corp), Senior Officer Retirement Agreement (Wackenhut Corp)
