Common use of Normal Benefit Clause in Contracts

Normal Benefit. Unless Disability, Separation from Service or the Executive’s death occurs prior to Normal Benefit Age, the Employer shall pay the Executive the Normal Benefit hereunder commencing at the time selected on the Benefit Payment Election Form. The benefit shall be the Deferral Account balance calculated at the time payment commences in lieu of any other benefit hereunder. This benefit shall be paid commencing the date indicated, and on the schedule elected, by the Executive on the various Benefit Payment Election Forms completed by the Executive.