Payment of Contract Benefits Sample Clauses

Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). Once annuity payments commence, the Annuity Option may not be changed. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. Once annuity payments commence, the form of settlement may not be changed. DESCRIPTION OF ANNUITY OPTIONS Option 1: Life Annuity a) Life Non-Refund. We will make payments during the lifetime of the Annuitant. No payments are due after the death of the Annuitant.
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Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. (a) Life Non-Refund. We will make payments during the lifetime of the Annuitant. No payments are due after the death of the Annuitant.
Sample 1
Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). Once annuity payments commence, the Annuity Option may not be changed. The "Life 10-year certain" Annuity Option described under part b) of Options 1 and 2 below will be the default Annuity Option, unless you request another, any time on or before the Maturity Date. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. Once annuity payments commence, the form of settlement may not be changed.
Sample 1Sample 2
Payment of Contract Benefits. 16 Schedule Page -------------------------------------------------------------- Initial Allocation of Net Premiums: Money Source Separate Account: Carillon Account SUBDIVISIONS OF THE VARIABLE ACCOUNT: [AIM VI CAP APPRECIATION 0]% [AIM VI GROWTH 0] [XXXXX AMERICAN LEVERAGED ALLCAP 0] [XXXXX AMERICAN MIDCAP GROWTH 0] [AM CENTURY VP GROWTH & IN 0] [AM CENTURY VP VALUE 0] [MFS VIT EMERGING GROWTH 0] [MFS VIT INVESTORS TRUST 0] [MFS VIT HIGH INCOME 0] [MFS VIT NEW DISCOVERY 0] [MFS VIT TOTAL RETURN 0] [XXXXXXXXX XXXXXX AMT GUARD 0] [XXXXXXXXXXX GLOBAL SEC/VA 0] [XXXXXXXXXXX MAIN ST/VA 0] [XXXXXXX VSI CAP GROWTH 0] [XXXXXXX VSI INTL 0] [XXXXXXX VSI MONEY MARKET 0] [XXXXXXXX SMALLCAP VALUE CLASS 2 0] [XXXXXXXX COMM & INFO CLASS 2 0] [SUMMIT BALANCED INDEX 0] [SUMMIT BOND 25] [SUMMIT NASDAQ 100 INDEX 0] [SUMMIT XXXXXXX 2000 0] [SUMMIT S&P MID CAP 400 0] [SUMMIT S&P 500 INDEX 0] [SUMMIT ZENITH 25] [FTVIP XXXXXXXXX INTL CLASS 2 0] GUARANTEED ACCOUNT: [50] ------- TOTAL: 100% Transfer Charge: Current: [$10] Maximum: $100 Mortality and Expense Charge: Current: [1.00%] Maximum: 2.00% Administration Fee: Current: [0.25%] Maximum: 0.25% Contract Fee for any full or partial year: $30.00 Guaranteed Account Guaranteed Minimum Interest Rate: 3.00% ------------------------------------------------------------- Annuitant: Xxxx Xxx Contract Number: 01234567 Owner: Xxxx Xxx Maturity Date: February 01, 2058 Joint Owner: N/A Contract Date: April 05, 2001 UC 8134 - 3 - Schedule Page -------------------------------------------------------------- Surrender Charge: We impose a surrender charge on certain early surrenders. The amount of the surrender charge is a percentage of the amount withdrawn and is set forth below. Contract Surrender Charge Year Percentage [ 1 7% ] [ 2 7% ] [ 3 6% ] [ 4 5% ] [ 5 4% ] [ 6 3% ] [ 7 2% ] [ 8 1% ] [ 9 AND ABOVE 0% ] Partial surrenders totaling not more than 10% of the accumulation value may be made each contract year without a surrender charge being imposed. In no event will the cumulative total of all surrender charges exceed 9% of premiums.
Sample 1
Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). Once annuity payments commence, the Annuity Option may not be changed. The "Life 10-year certain" Annuity Option described under part b) of Options 1 and 2 below will be the default Annuity Option, unless you request another, any time on or before the Maturity Date. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. Once annuity payments commence, the form of settlement may not be changed. DESCRIPTION OF ANNUITY OPTIONS Option 1: Life Annuity a) Life Non-Refund. We will make payments during the lifetime of the Annuitant. No payments are due after the death of the Annuitant.
Sample 1
Payment of Contract Benefits. Schedule Page ------------------------------------------------------------ Transfer Charge: Current: $[10.00] Maximum: $15.00 Free Transfers. Notwithstanding the transfer charge described above, 12 transfers may be made during each contract year without a transfer charge being imposed. Mortality and Expense Charge: Current: [1.50%] Maximum: 2.00% Administration Fee: Current: [0.25%] Maximum: 0.25% Contract Fee for any full or partial year: $50.00. This fee is waived if, in any given contract year, the contract value exceeds [$50,000] Guaranteed Account Guaranteed Minimum Interest Rate: [1.5]% Plan: [NonQualified] ------------------------------------------------------------ Annuitant: Xxxx Xxx Contract Number: 0123456789 Owner: Xxxx Xxx Maturity Date: June 01, 2050 Joint Owner: N/A Contract Date: August 01, 2004 UC 8138 3 Schedule Page ------------------------------------------------------------ Surrender Charge: We impose a surrender charge on certain early surrenders. The amount of the surrender charge is a percentage of the amount withdrawn and is set forth below. Partial surrenders totaling not more than 10% of the accumulation value may be made each contract year without a surrender charge being imposed. In no event will the cumulative total of all surrender charges exceed 9% of premiums. Maximum transfer amount per contract year to the guaranteed account: After the first contract year, [30]% of the sum of the amounts in all subaccounts as of the beginning of each contract year, or $1,000, whichever is greater. Maximum transfer amount per contract year from the guaranteed account: As of the beginning of any contract year, [20%] of the amount in the guaranteed account or $1,000, whichever is greater. Maximum premium allocation to the guaranteed account: [50%] of the net premium. Minimum transfer amount: $[300.00] ------------------------------------------------------------ Annuitant: Xxxx Xxx Contract Number: 0123456789 Owner: Xxxx Xxx Maturity Date: June 01, 2050 Joint Owner: N/A Contract Date: August 01, 2004 UC 8138 3A DEFINITION ------------------------------------------------------------
Sample 1
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Payment of Contract Benefits. GENERAL Benefits payable under this Contract may be applied in accordance with one or more of the Annuity Options described below, subject to any restrictions of Internal Revenue Code section 72(s). Once annuity payments commence, the Annuity Option may not be changed. ALTERNATE ANNUITY OPTIONS Instead of settlement in accordance with the Annuity Options described below, you may choose an alternate form of settlement acceptable to us. Once annuity payments commence, the form of settlement may not be changed.
Sample 1
Payment of Contract Benefits 
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Related to Payment of Contract Benefits

  • Retirement Benefits Due to either investment or employment during the marriage, either the Husband or Wife: (check one)

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Payment of Benefits All or part of the contract benefits may be paid under one or more of the following: - a variable payment plan; - a fixed payment plan; or - in cash. The provisions and rate for variable and fixed payment plans are described in Section 11. Contract benefits may not be placed under a payment plan unless the plan would provide to each beneficiary a monthly income the initial amount of which is at least the minimum payment amount shown on page 4. A Withdrawal Charge will be deducted from contract benefits before their payment under certain conditions described in Section 7.3.

  • Death Benefits Upon the Executive’s death during the Contract Period, the Executive’s estate shall not be entitled to any further benefits under this Agreement.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Settlement Benefits Subject to the terms and conditions set forth herein, HESI shall provide the following “Settlement Benefits” in connection with the resolution of the New Class Action by the New Class and the resolution of the Assigned Claims against HESI by the DHEPDS Class: (a) HESI shall make an Aggregate Payment of one billion twenty-eight million U.S. dollars (“USD”) ($1,028,000,000) (the “Aggregate Payment”) to resolve both the alleged liability to the New Class for Punitive Damages Claims, if any, and the alleged liability to the DHEPDS Class for the Assigned Claims against HESI under the DHEPDS. DHEPDS Class Counsel and the PSC have agreed to accept the Aggregate Payment from HESI, subject to the terms and conditions set forth herein, including the allocation of the Aggregate Payment by the Allocation Special Master described below. (b) All Administrative Costs shall be paid from the Aggregate Payment. Under no circumstances shall HESI be liable for any Administrative Costs. At the request of the PSC or New Class Counsel, as applicable, and/or the DHEPDS Class Counsel, XXXX agrees to consult with them to explore methods to enhance the efficiency of the implementation and administration of the processes for the distribution of the Aggregate Payment amount pursuant to the provisions of the SA. (c) Only as agreed to by the Parties in Section 23 of this SA, HESI shall pay the reasonable common benefit costs and fees of the PSC, New Class Counsel, as applicable, and DHEPDS Class Counsel and/or other common benefit attorneys who have submitted time and/or costs in accordance with Pre-Trial Order No. 9, as may be approved by the Court. In no event shall HESI be required to pay any common benefit costs or fees of the PSC, New Class Counsel, DHEPDS Class Counsel or any other common benefit attorneys, or any other person who claims a right to fees and costs, in excess of the amount agreed to by the Parties in Section 23 of this SA.

  • Standard Benefits During the Employment Period, Executive shall be entitled to participate in all employee benefit plans and programs, including paid vacations, generally available to other similarly situated Company executives, subject to the terms and conditions of the applicable plans.

  • Termination Benefits (a) Upon the occurrence of a Change in Control, followed at any time during the term of this Agreement by the involuntary termination of the Executive’s employment (other than for Termination for Cause or death), or by the Executive for Good Reason, the Employers shall: (i) pay the Executive, or in the event of his subsequent death, his beneficiary or beneficiaries, or his estate, as the case may be, a lump sum payment within thirty (30) days of the Date of Termination an amount equal to three (3) times the Executive’s average annual compensation for the five most recent taxable years that the Executive has been employed by the Employers or such lesser number of years in the event that the Executive shall have been employed by the Employers for less than five years. For this purpose, annual compensation shall include base salary and any other taxable income, including, but not limited to, amounts related to the granting, vesting or exercise of restricted stock or stock option awards, commissions, bonuses, pension and profit sharing plan contributions or benefits (whether or not taxable), severance payments, retirement benefits, and fringe benefits paid or to be paid to the Executive or paid for the Executive’s benefit during any such year; and (ii) cause to be continued life insurance and non-taxable medical, dental and disability coverage substantially identical to the coverage maintained by the Employers for the Executive prior to his Date of Termination, except to the extent such coverage may be changed in its application to all employees on a nondiscriminatory basis. Such coverage and payments shall cease upon the expiration of thirty-six (36) full calendar months from the Date of Termination. (b) Notwithstanding the foregoing, to the extent required to avoid penalties under Section 409A of the Code, the cash severance payable under Section 3 of this Agreement shall be delayed until the first day of the seventh month following the Executive’s Date of Termination. (c) For purposes of this Agreement, a “termination of employment” shall mean a “Separation from Service” as defined in Section 409A of the Code and the regulations promulgated thereunder, such that the Employers and the Executive reasonably anticipate that the level of bona fide services the Executive would perform after a termination of employment would permanently decrease to a level that is less than 50% of the average level of bona fide services performed (whether as an employee or as an independent contractor) over the immediately preceding thirty-six (36) month period.

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

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