Common use of Calculation of Lump Sum Payment Clause in Contracts

Calculation of Lump Sum Payment. Calculation of any lump sum payable under this Section 2.1. 2.1 shall be as follows: Executive shall receive the greater of: (1) the present value of the Normal Retirement Benefit based upon 20 years of monthly installment payments, which are to be calculated commencing with the date of the first payment received by the Executive under Section 2.1 of this Agreement, less any monthly payments already received by the Executive under Section 2.1 of this Agreement; or (2) the present value of the Normal Retirement Benefit based upon a lifetime benefit, which is to be calculated commencing with the date of the first payment received by Executive under Section 2.1, and ending on a date in the future that is calculated to be the Executive's actuarial life expectancy, plus five years, less any monthly payments already received by the Executive under Section 2.4.2 of this Agreement. The Executive's actuarial life expectancy shall be determined

Calculation of Lump Sum Payment. Calculation of any lump sum payable under this Section 2.1. 2.1 shall be as follows: Executive shall receive the greater of: (1) the present value of the Normal Retirement Benefit based upon 20 years of monthly installment payments, which are to be calculated commencing with the date of the first payment received by the Executive under Section 2.1 of this Agreement, less any monthly payments already received by the Executive under Section 2.1 of this Agreement; or (2) the present value of the Normal Retirement Benefit based upon a lifetime benefit, which is to be calculated commencing with the date of the first payment received by Executive under Section 2.1, and ending on a date in the future that is calculated to be the Executive's actuarial life expectancy, plus five years, less any monthly payments already received by the Executive under Section 2.4.2 of this Agreement. The Executive's actuarial life expectancy shall be determined2.4.2

Calculation of Lump Sum Payment. Calculation of any lump sum payable under this Section 2.1. 2.1 shall be as follows: Executive shall receive the greater of: (1) the present value of the Normal Retirement Benefit based upon 20 twenty (20) years of monthly installment payments, which are to be calculated commencing with the date of the first payment received by the Executive under Section 2.1 of this Agreement, less any monthly payments already received by the Executive under Section 2.1 of this Agreement; or; (2) the present value of the Normal Retirement Benefit based upon a lifetime benefit, which is to be calculated commencing with the date of the first payment received by Executive under Section 2.1, and ending on a date in the future that is calculated to be the Executive's actuarial life expectancy, plus five years, less any monthly payments already received by the Executive under Section 2.4.2 of this Agreement. The Executive's actuarial life expectancy shall be determined2.4.2

Calculation of Lump Sum Payment. Calculation of any lump sum payable under this Section 2.1. 2.1 shall be as follows: Executive shall receive the greater of: (1) the present value of the Normal Retirement Benefit based upon 20 10 years of monthly installment payments, which are to be calculated commencing with the date of the first payment received by the Executive under Section 2.1 of this Agreement, less any monthly payments already received by the Executive under Section 2.1 of this Agreement; or; (2) the present value of the Normal Retirement Benefit based upon a lifetime benefit, which is to be calculated commencing with the date of the first payment received by Executive under Section 2.1, and ending on a date in the future that is calculated to be the Executive's actuarial life expectancy, plus five years, less any monthly payments already received by the Executive under Section 2.4.2 of this Agreement. The Executive's actuarial life expectancy shall be determined2.4.2