Fifth Option definition

Fifth Option. Specified Amount of Income The Company will make monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments can be quarterly or at any other frequency chosen, and payments can be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest.
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Fifth Option. SPECIFIED AMOUNT OF INCOME The Company will make monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments can be quarterly or at any other frequency chosen, and payments can be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest. SIXTH OPTION: LIFE INCOME FOR TWO LIVES The Company will make monthly payments. Payments will start on the Option Date and will continue: - While either of two Payees is living, called "Joint and Survivor Life Income"; or - While either of two Payees is living, but for at least 10 years, called "Joint and Survivor Life Income, 10 Years Certain"; or
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Examples of Fifth Option in a sentence

  • Neither the Administrative Committee nor the Plan Administrator nor the Company makes any representations or warranties, express or implied, or assumes any responsibility concerning the legal, tax or other implications or effects of this Plan.

  • Although fixed dollar annuity payments may never be less than the first monthly payment, each payment certain after the first under the Second or Fifth Option and the net investment rate applied under the Sixth and Seventh Options may be increased as a result of excess credits declared by the Board of Directors of the Company.

  • The Table for the Fifth Option is based on a net investment rate of 4% per annum.

  • The tables for the Fifth Option are based on a net investment rate of 3% for the General Account and 3-1/2% for the Separate Account.

  • If the Fifth Option is elected, the Accumulation Value will provide a Fixed Annuity.

  • Payments may be received on either a fixed or a variable basis, or both, except that payments under the Fifth Option must be made on a fixed basis.

  • In the selection of a Payment Option the right can be given to the Payee: - To withdraw principal and interest under the Fourth or Fifth Option; or - To withdraw the commuted value of payments certain under the First, Second, or Sixth Option.

  • Calculations for such present value of guaranteed payments remaining will assume a net investment rate of 3% a year in the General Account for the Fifth Option and 3-1/2% a year for all other General Account and all Separate Account options.

  • The tables for the Fifth Option are based on a net investment rate of 3% for the General Account and 3 1/2% for the Separate Account.

  • Each of the First Option, Second Option, Third Option, Fourth Option, and Fifth Option (together, the “Options”) are governed by the Parent’s relevant equity plan and/or award agreement, unless specifically stated otherwise in this Agreement.

Related to Fifth Option

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

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

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

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

  • Related Option means an Option with respect to which a Stock Appreciation Right has been granted.

  • 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.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

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

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

  • Optioned Stock means the Common Stock subject to an Option.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Employee Option means an Option granted pursuant to Section 5.

  • Option means a stock option granted pursuant to the Plan.

  • 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.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of immediately prior to the Effective Time or will vest solely as a result of the consummation of the Merger.

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

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

  • Parent Option means an option to purchase shares of Parent Common Stock.

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Unvested Company Option means any Company Option that is not a Vested Company Option.