ELECTION OF OPTION definition

ELECTION OF OPTION. The following Payment Options are available to You during Your lifetime. They are also available to the Beneficiary after Your death, if You have not selected an option for such Beneficiary. You may elect to have the Proceeds paid in accordance with any one of the options described below or in any other manner acceptable to us and permissible under applicable law. If no election has been made, the automatic Payment Option shall be Option B. The amount paid under these options is fixed and does not depend on the investment performance of the Variable Account.
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Examples of ELECTION OF OPTION in a sentence

  • ELECTION OF OPTION -- At least 30 days prior to the requested effective date of an annuity income option, the Participant may elect by written request an annuity income option or change a previous election.

  • ELECTION OF OPTION At any time after a Cash Value has accumulated under the Certificate, the Owner may elect: - to use a portion of the Net Cash Value to purchase Paid-up Insurance; or - to Surrender his Certificate and use all of the Net Cash Value, less applicable transaction fees, to purchase Paid-up Insurance.

  • ELECTION OF OPTION - At least 30 days prior to the Maturity Date, you may elect by written request an annuity income option or change a previous election.

  • ELECTION OF OPTION Nationwide Retirement Plan January 1, 2002 Each Participant shall have the right to elect this option prior to his or her Retirement Date.

Related to ELECTION OF OPTION

  • Early Opt-in Election means the occurrence of:

  • Notice of Stock Option Grant means the document so entitled to which this Agreement is attached.

  • Director Option means an Option granted pursuant to Section 6.

  • Optional Deferral Provision means, as to any Qualifying Capital Securities, a provision in the terms thereof or of the related transaction agreements to the effect that:

  • 10) Election has the meaning set forth in Section 6.05(a).

  • Non-Election Shares shall have the meaning set forth in Section 3.2.1.

  • Stock Election shall have the meaning set forth in Section 3.2.2.

  • Exchange Election shall have the meaning specified in Section 14.12(a).

  • Date of Option Grant means the effective date of grant of the Option as set forth in the Notice.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • option-based award means an award under an equity incentive plan of options, including, for greater certainty, share options, share appreciation rights, and similar instruments that have option-like features;

  • Company Stock Option means any option to purchase Company Common Stock granted under any Company Stock Plan.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • DSU means a deferred share unit, which is a bookkeeping entry equivalent in value to a Share credited to a Participant’s Account in accordance with Article 4 hereof;

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Non-Electing Share has the meaning specified in Section 12.11.

  • Director Award means the grant of any Award (other than an Incentive Stock Option), whether granted singly, in combination, or in tandem, to a Participant who is a Director pursuant to such applicable terms, conditions, and limitations established by the Board.

  • Notification of Award means the official notice issued by the Employer notifying the Contractor that his bid has been accepted.

  • Stock Option Plan means any stock option plan now or hereafter adopted by the Company or by the Corporation, including the Corporate Incentive Award Plan.

  • Company Stock Option Plan means each stock option plan, stock award plan, stock appreciation right plan, phantom stock plan, stock option, other equity or equity-based compensation plan, equity or other equity based award to any employee, whether payable in cash, shares or otherwise (to the extent not issued pursuant to any of the foregoing plans), or other plan or contract of any nature with any employee pursuant to which any stock, option, warrant or other right to purchase or acquire capital stock of the Company or right to payment based on the value of Company capital stock has been granted or otherwise issued.

  • Nonqualified Stock Option means an Option that is not an Incentive Stock Option.

  • Non-Qualified Share Option means an Option that is not intended to be an Incentive Share Option.

  • Optional Conversion has the meaning set forth in Section 6(a).