Common use of Payment of Benefit Clause in Contracts

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributed.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceService due to Disability. The Company shall continue to credit interest as described in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributed.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Benefit Age. The Company shall continue to credit interest as described in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributed.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Benefit Date. The Company shall continue to credit amortize the Deferral Account balance using the interest as rate described in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributed3.1.2.1.

Payment of Benefit. The Company shall pay the annual benefit to the Director in 120 12 equal monthly installments commencing payable on the first day of each month commencing with the month following the Director's Termination of Service. The annual benefit shall be paid to the Director for 20 years. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 180 equal monthly installments commencing on the first day of with the month following the Director's Termination of Service’s Normal Retirement Age. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.3 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the annual benefit to the Director in 120 12 equal monthly installments commencing payable on the first day of each month commencing with the month following the Director's Termination of Service. The annual benefit shall be paid to the Director for 20 years, or as elected on the Election Form (Exhibit 2). The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 180 equal monthly installments commencing on the first day of with the month following the Director's Termination of Service’s Normal Retirement Date. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.3 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the annual benefit to the Director Director's beneficiary in 120 12 equal monthly installments commencing payable on the first day of each month commencing with the month following the Director's Termination of ServiceDeath. The annual benefit shall be paid to the Director's beneficiary for 20 years. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 180 equal monthly installments commencing on the first day of with the month following the Director's ’s Termination of Service. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.3 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in under Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Date. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Age. The Company shall continue to credit interest as described in under Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Date. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Age. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 180 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Date. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments installments, including interest at the Final Crediting Rate, compounded monthly, commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributed’s Normal Retirement Date.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Date. The Company shall continue to credit interest as described in under Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments installments, including interest at the Final Crediting Rate, compounded monthly, commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributed.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments installments, including interest at the Final Crediting Rate, compounded monthly, commencing on the first day of the month following the Director's Termination of Service. The Upon petition by the Director, the Company shall continue to credit interest as described may, at its sole discretion, pay the unpaid balance in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributedto the Director in a lump sum in lieu of any remaining installments otherwise due under this Section 4.4.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 60 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Date. The Company shall continue to credit interest as described in interests under Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments installments, including interest at the Payment Rate, commencing on the first day of the month following the Director's Termination Normal Retirement Date. Upon petition by the Director following the Normal Retirement Date, the Company's Board of Service. The Company shall continue Directors may elect, at its sole discretion, to credit interest as described pay the benefit in Section 3.1.2.1 on the balance a lump sum in lieu of the Deferral Account until all any installment payments have been distributedotherwise payable under this section 4.1.2.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments installments, including interest at the Payment Rate, commencing on the first day of the month following the Director's Termination Normal Retirement Age. Upon petition by the Director following the Normal Retirement Date, the Company's Board of Service. The Company shall continue Directors may elect, at its sole discretion, to credit interest as described pay the benefit in Section 3.1.2.1 on the balance a lump sum in lieu of the Deferral Account until all any installment payments have been distributedotherwise payable under this section 4.2.2.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 60 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Age. The Company shall continue to credit interest as described in under Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring ay applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in Section 3.1.2.1 at the annual rate of 7.5 percent on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of with the month following the Director's Termination of Service’s Normal Retirement Date. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments installments, including interest at the Final Crediting Rate, compounded monthly, commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in Section 3.1.2.1 on the balance of the Deferral Account until all payments have been distributedNormal Retirement Date.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of with the month following the Director's Termination of Service’s Normal Retirement Age. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 180 equal monthly installments commencing on the first day of the month following the Director's Termination of Service. The Company shall continue to credit interest as described in pursuant to Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.

Payment of Benefit. The Company shall pay the benefit to the Director in 120 equal monthly installments commencing on the first day of the month following the Director's Termination of ServiceNormal Retirement Date. The Company shall continue to credit interest as described in under the Section 3.1.2.1 3.1.2 on the remaining account balance of the Deferral Account until all payments have been distributedduring any applicable installment period.