Annuity Purchase. Immediately prior to the REIT Effective Time (as defined in the Merger Agreement), the Company shall purchase an annuity (the “Annuity”) that will provide payments equal to $1 million per year for eight years beginning in 2007. The Annuity will be owned by the Company, with the Executive as primary beneficiary and the Company as contingent beneficiary, and amounts payable under the Annuity shall be paid to the Executive or the Company, as the case may be, as provided in Section 6(f) herein.
Annuity Purchase. We charge up to 2% of the sum transferred subject to a minimum fee of £750. For example: If you transfer £10,000, the cost would be £750 (minimum fee). If you transfer £50,000, the cost would be £1,000. Implementation Fees – Regular Premium Investment It is our company policy to arrange for the Implementation Fee on regular premium investment to be deducted from the total amount collected by the product provider. We will agree this amount (subject to a minimum of £750) and ask you to confirm this, in our fee agreement. Alternatively, we may ask for a separate cheque, payable to our firm, dependent on the premium value considered. The standard charge is 50% of the premium due for 12 months. If, like in the example below*, the total fee paid is less than our minimum fee, the short fall will be collected by a separate cheque made payable to our firm at the time the advice is given. Example of our Regular premium investment fee Monthly premium £50 £75 £150 Monthly fee charged at 50% would be £25 £37.5 £75 Total fee paid (12 months) £300* £450* £900 Termination of Our Services (Initial Advice) You or we may terminate our authority to act on your behalf at any time. You will be liable to pay for any advice or services that you have received prior to the date of termination. This means that where we have agreed the advice and services that we will provide for you and we have agreed to receive payment for these, either by means of a fee for investment business or by receiving commission from a provider for non-investment business you will have to pay us for any work we have completed up to the date of termination. On-going Service Option Our ongoing service option incorporates a periodic suitability review of the investments we have recommended, this is to ensure the original recommendation remains suitable. This periodic assessment will be completed at least annually, however, the frequency may be increased when taking into account your risk profile and the types of financial products that have been recommended. Example of ongoing advice charges Example Investment Amount Annual Service Charge Example Annual Service Fee Minimum Annual Fee £75,000 1% £750 £350 £150,000 1% £1,500 £350 The actual fee charged which is subject to a minimum of £350 will vary depending upon how the investment performs and it will increase as the fund grows. We will provide you with information regarding the costs at least annually to help you understand the overall cost and the cumulativ...
Annuity Purchase. At Your option, all or part of any amount payable under this Contract or any amount available under the Plan, may be used to buy Annuities under this Contract for Participants. Annuities may be purchased in any form then offered by Us. We will use Our applicable settlement option rates based on a 3% assumed interest rate and the latest group annuity mortality table approved for use in the state where the Contract is issued.
Annuity Purchase. Immediately prior to the REIT Effective Time, the Company shall purchase an annuity (the "Annuity") for a price of $15 million, to be owned by the Company, with the Company as the primary beneficiary, and amounts payable under the Annuity shall be paid to the Company. The Annuity shall provide for the payment of benefits ratably, in installments (no less frequently than annually), over a period of ten years. The Executive shall become entitled to receive payments from the Company in amounts equal to the amounts paid to the Company under the Annuity (the "Annuity Payments"), as provided in Section 6(f) herein."
