Amount of the Benefit. 3.1 Following a Distribution Event, the Executive, if fully vested, shall receive a monthly benefit payment in the form of 120 monthly installments of $8,333.33 each, with a total of payments of $1,000,000 (the "Benefit"). 3.2 Following a Distribution Event, the Executive, if not fully vested, shall receive a reduced monthly benefit payment in the form of 120 monthly installments. The amount of the monthly benefit payment is determined by the percent vested as indicated on the following table: Vesting Adjustment Monthly Benefit Payment Date Percent Vested to Executive Total of Payments ---- -------------- ------------ ----------------- 01/01/06 50% $4,166.67 $500,000 01/01/07 60% $5,000.00 $600,000 01/01/08 70% $5,833.33 $700,000 01/01/09 80% $6,666.67 $800,000 01/01/10 90% $7,500.00 $900,000 01/01/11 100% $8,333.33 1,000,000
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Amount of the Benefit. 3.1 Following a Distribution Event, the Executive, if fully vested, shall receive a monthly benefit payment in the form of 120 monthly installments of $8,333.33 4,666.67 each, with a total of payments of $1,000,000 560,000 (the "Benefit").
3.2 Following a Distribution Event, the Executive, if not fully vested, shall receive a reduced monthly benefit payment in the form of 120 monthly installments. The amount of the monthly benefit payment is determined by the percent vested as indicated on the following table: Vesting Adjustment Monthly Benefit Payment Date Percent Vested to Executive Total of Payments ---- -------------- ------------ --------- ----------------- 01/01/06 50% $4,166.67 $500,000 01/01/07 60% $5,000.00 $600,000 01/01/08 12/19/01 70% $5,833.33 3,266.67 $700,000 01/01/09 392,000 6/30/02 80% $6,666.67 3,733.34 $800,000 01/01/10 448,000 6/30/03 90% $7,500.00 4,200.00 $900,000 01/01/11 504,000 6/30/04 100% $8,333.33 1,000,0004,666.67 $560,000
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Amount of the Benefit. 3.1 Following a Distribution Event, the Executive, if fully vested, shall receive a monthly benefit payment in the form of 120 monthly installments of $8,333.33 10,041.67 each, with a total of payments of $1,000,000 1,205,000 (the "Benefit").
3.2 Following a Distribution Event, the Executive, if not fully vested, shall receive a reduced monthly benefit payment in the form of 120 monthly installments. The amount of the monthly benefit payment is determined by the percent vested as indicated on the following table: Vesting Adjustment Monthly Benefit Payment to Date Percent Vested to Executive Total of Payments ---- -------------- ------------ --------- ----------------- 01/01/06 50% $4,166.67 5,020.83 $500,000 602,500 01/01/07 60% $5,000.00 6,025.00 $600,000 723,000 01/01/08 70% $5,833.33 7,029.17 $700,000 843,500 01/01/09 80% $6,666.67 8,033.33 $800,000 964,000 01/01/10 90% $7,500.00 9,037.50 $900,000 1,084,500 01/01/11 100% $8,333.33 1,000,00010,041.67 $1,205,000
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Amount of the Benefit. 3.1 Following a Distribution Event, the Executive, if fully vested, shall receive a monthly benefit payment in the form of 120 monthly installments of $8,333.33 16,500 each, with a total of payments of $1,000,000 1,980,000 (the "Benefit").
3.2 Following a Distribution Event, the Executive, if not fully vested, shall receive a reduced monthly benefit payment in the form of 120 monthly installments. The amount of the monthly benefit payment is determined by the percent vested as indicated on the following table: Vesting Adjustment Monthly Benefit Payment Date Percent Vested to Executive Total of Payments ---- -------------- ------------ ----------- ----------------- 01/01/06 5012/19/01 64% $4,166.67 10,560 $500,000 01/01/07 601,267,200 6/30/02 76% $5,000.00 12,540 $600,000 01/01/08 701,504,800 6/30/03 88% $5,833.33 14,520 $700,000 01/01/09 80% $6,666.67 $800,000 01/01/10 90% $7,500.00 $900,000 01/01/11 1,742,400 6/30/04 100% $8,333.33 1,000,00016,500 $1,980,000
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Amount of the Benefit. 3.1 Following a Distribution Event, the Executive, if fully vested, shall receive a monthly benefit payment in the form of 120 monthly installments of $8,333.33 6,541.67 each, with a total of payments of $1,000,000 785,000 (the "Benefit").
3.2 Following a Distribution Event, the Executive, if not fully vested, shall receive a reduced monthly benefit payment in the form of 120 monthly installments. The amount of the monthly benefit payment is determined by the percent vested as indicated on the following table: Vesting Adjustment Monthly Benefit Payment to Date Percent Vested to Executive Total of Payments ---- -------------- ------------ --------- ----------------- 01/01/06 1/01/04 50% $4,166.67 3,270.83 $500,000 01/01/07 392,500 1/01/05 60% $5,000.00 3,925.00 $600,000 01/01/08 471,000 1/01/06 70% $5,833.33 4,579.17 $700,000 01/01/09 549,500 1/01/07 80% $6,666.67 5,233.33 $800,000 01/01/10 628,000 1/01/08 90% $7,500.00 5,887.50 $900,000 01/01/11 706,500 1/01/09 100% $8,333.33 1,000,0006,541.67 $785,000
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