Common use of EARLY COMMENCEMENT PERCENT Clause in Contracts

EARLY COMMENCEMENT PERCENT. The Early Commencement Percent shall equal the result of: (i) 100%, less (ii) the product of .25% for each full calendar month the Payment Start Date precedes the calendar month in which occurs the Executive's 62nd birthday (designed to be a 3% discount for each full twelve-month period the Payment Start Date precedes the Executive's 62nd birthday, with monthly pro-ration for any period of less than twelve months).

EARLY COMMENCEMENT PERCENT. The Early Commencement Percent shall equal the result ofof : (i) 100%, less (ii) the product of .25% for each full calendar month the Payment Start Date precedes the calendar month in which occurs the Executive's 62nd birthday (designed to be a 3% discount for each full twelve-month period the Payment Start Date precedes the Executive's 62nd birthday, with monthly pro-ration for any period of less than twelve months).

EARLY COMMENCEMENT PERCENT. The Early Commencement Percent shall equal the result of: (i) 100%, less (ii) the product of .25% for each full calendar month the Payment Start Date precedes the calendar month in which occurs the Executive's ’s 62nd birthday (designed to be a 3% discount for each full twelve-month period the Payment Start Date precedes the Executive's ’s 62nd birthday, with monthly pro-ration for any period of less than twelve months).

EARLY COMMENCEMENT PERCENT. The Early Commencement Percent shall equal the result of: (i) 100%, less (ii) the product of .25% for each full calendar month the Payment Start Date precedes the calendar month in which occurs the Executive's 62nd ’s 60th birthday (designed to be a 3% discount for each full twelve-month period the Payment Start Date precedes the Executive's 62nd ’s 60th birthday, with monthly pro-ration for any period of less than twelve months).