Life Annuity. If a participant does not have a spouse (as defined in section 2.7 below) on his supplemental retirement benefit commencement date, and if he has not elected pursuant to the preceding provisions of this section 2.4 to receive his supplemental retirement benefits in a single lump sum, payment of his supplemental retirement benefits shall be during his lifetime on a life annuity basis.
Appears in 5 contracts
Sources: Employment Agreement (Pittway Corp /De/), Employment Agreement (Pittway Corp /De/), Employment Agreement (Pittway Corp /De/)