Common use of PAYMENTS IN THE EVENT THE EXECUTIVE ELECTS EARLY RETIREMENT Clause in Contracts

PAYMENTS IN THE EVENT THE EXECUTIVE ELECTS EARLY RETIREMENT. The Executive shall have the right to elect to receive the Annual Benefit prior to attaining sixty-five (65) years of age if he chooses to Retire on a date which constitutes an Early Retirement Date as defined in Article 1.08 above. In the event the Executive elects to Retire on a date which constitutes an Early Retirement Date, the Executive shall be entitled to be paid the Annual Benefit for a period of fifteen (15) years determined by the applicable years of service at the time of early retirement, as defined above, in one hundred eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which Early Retirement Date occurs.

PAYMENTS IN THE EVENT THE EXECUTIVE ELECTS EARLY RETIREMENT. The Executive shall have the right to elect to receive the Annual Benefit prior to attaining sixty-five (65) years of age if he chooses to Retire on a date which constitutes an Early Retirement Date as defined in Article 1.08 abovesubparagraph 1.6 herein. In the event the Executive elects to Retire on a date which constitutes an an. Early Retirement Date, the Executive shall be entitled to be paid the Annual Benefit for a period of fifteen (15) years years, as set forth on Schedule “A” and determined by the applicable years of service at the time of early retirement, as defined above, in one hundred eighty One Hundred Eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which Early Retirement Date occurs.

PAYMENTS IN THE EVENT THE EXECUTIVE ELECTS EARLY RETIREMENT. The Executive shall have the right to elect to receive the Annual Benefit prior to attaining sixty-five (65) years of age if he chooses to Retire on a date which constitutes an Early Retirement Date as defined in Article 1.08 subparagraph 1.7 above. In the event the Executive elects to Retire on a date which constitutes an an. Early Retirement Date, the Executive shall be entitled to be paid the Annual Benefit for a period of fifteen (15) years years, as set forth on Schedule "A" and determined by the applicable years of service at the time of early retirement, as defined above, in one hundred eighty One Hundred Eighty (180) equal monthly installments, with each installment to be paid on the first day of each month, beginning with the month following the month in which Early Retirement Date occurs.