Annual Installments

Annual Installments contract clause examples

Annual Installments. The Participant may elect any number of annual installments between two (2) and fifteen (15). If a Participant does not elect the form of payment of his or her Separation Distribution Account, the Separation Distribution Account shall be distributed in fifteen (15) annual installments.

Annual Installments. The Participant may elect any number of annual installments between two (2) and fifteen (15).

The amount of the first annual installment paid pursuant to [Section 6.1(a)] shall be determined by multiplying the Participant’s applicable Account or sub-account by a fraction, the denominator of which equals the total number of years over which benefits are to be paid, and the numerator of which is one (1). The amount of each succeeding installment payment shall be determined by multiplying the Participant’s applicable Account or sub-account by a fraction, the denominator of which equals the number of remaining years over which benefits are to be paid, and the numerator of which is one (1).

Installments. Executive’s right to receive any installment payments under this Agreement, including without limitation any continuation salary payments that are payable on Company payroll dates, shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment as permitted under Section 409A. Except as otherwise permitted under Section 409A, no payment hereunder shall be accelerated or deferred unless such acceleration or deferral would not result in additional tax or interest pursuant to Section 409A.

Otherwise, payments shall be made in five (5) annual installments.

Annual installments over a period from two to five years, or

The Restricted Stock granted under this Agreement shall vest in seven (7) annual installments, with the first installment of 16 percent (16%) becoming exercisable on the first anniversary of the date of grant, or , and the succeeding six (6) equal annual installments of 14 percent (14%) on each anniversary thereafter, through .

Term of Payments. Participants may elect in their Participation Agreements to have benefits from their Accounts paid in # up to 15 annual installments, # a single lump sum payment, or # a combination of a partial lump sum payment (expressed as a percentage) and the remainder in up to 15 annual installments.

In addition, with respect to any Awards, the following shall apply: A Participant may elect to defer the annual installments payable under an Award Agreement for a period of five years by filing a written election with the Administrator at least one year in advance of the date as of which payment of the annual installments would otherwise commence (each annual installment shall be

If a Participant fails to make an installments interval election (i.e. annual or quarterly) pursuant to this Section 6.2(a), the Participant shall be deemed to have elected quarterly installments.

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