Normal Benefit Form definition

Normal Benefit Form means a Lump Sum payment equal to the Present Value, as of the time of payment, of the Annuity Benefit.

Normal Benefit Form means the normal form of benefit under the Plan, which shall be the Equivalent of a Participant's Vested Accrued Benefit, payable as a joint and survivor annuity based on the life expectancies of the Participant and the measuring life Beneficiary at the time payment of the benefit commences, consisting of monthly payments to the Participant commencing as of the first day of the calendar month coincident with or next following the Participant's benefit commencement date and ending with the payment for the calendar month in which the Participant dies, with the provision that, if the Participant dies and is survived by the Beneficiary, such Beneficiary shall receive monthly payments of, in the case of Executive Benefits, seventy-five percent or, in the case of Key Management Benefits, fifty percent, of the monthly payments that were being made prior to the Participant's death, commencing with the payment for the calendar month following the month in which the Participant died and ending with the payment for the calendar month in which the Beneficiary dies.

Normal Benefit Form means a Lump Sum payment.

Examples of Normal Benefit Form in a sentence

• Benefits subject to Code Section 409A shall be paid in the form of monthly pension payable in the Normal Benefit Form.

• The Disability Benefit shall be calculated at time of the Disability determination and shall be payable in the Normal Benefit Form within 30 days of the Disability determination, unless the Executive has made a timely election to receive the Disability Benefit at the Benefit Age set forth in the Participation Agreement, in which case, the Executive’s election shall control.

• A Legacy Plan Participant who terminates employment with the Company and its subsidiaries on his Normal Retirement Date shall receive a monthly retirement benefit equal to his Monthly Base Benefit Amount calculated as a Normal Benefit Form and payable in the Normal Benefit Form, or Optional Form of Benefit if properly elected pursuant to Section 2.4 and subject to any applicable penalties under Section 2.5, commencing on his Designated Benefit Commencement Date.

• Each of the Seller, FRI, FMB, SDI and the VB Subsidiaries has accounted for the transactions contemplated in the Facility Documents to which it is a party in accordance with GAAP.

• The amount of the Supplemental Benefit so designated by the Participant shall be the Actuarial Equivalent of the amount otherwise payable to the Participant in the Normal Benefit Form pursuant to Section 2.18.

More Definitions of Normal Benefit Form

Normal Benefit Form means a monthly payment for a Legacy Plan Participant's remaining life, with a survivor benefit to the spouse of the Legacy Plan Participant to whom he was married on the Designated Benefit Commencement Date equal to 50% of the benefit amount payable during the Legacy Plan Participant's remaining life, commencing with the month in which benefits first become payable and terminating with the month in which the later of the Legacy Plan Participant's or the Legacy Plan Participant's eligible spouse's death occurs. If the Legacy Plan Participant is not married on the Designated Benefit Commencement Date, Normal Benefit Form shall mean a monthly payment for the Legacy Plan Participant's remaining life, with a minimum of 120 monthly payments guaranteed, commencing with the month in which benefits first become payable and terminating on the later of the month in which the Legacy Plan Participant's death occurs or the month in which the 120th monthly payment occurs.

Normal Benefit Form means the normal form of benefit under --------------------- the Plan, which shall be the Equivalent of a Participant's Vested Accrued

Normal Benefit Form means a Single Life Annuity, ------------------- starting at age 65.

Normal Benefit Form means a Lump Sum payment equal to the Present Value of the Supplemental Benefit.

Normal Benefit Form means a monthly payment for a Vested Participant's remaining life, with a survivor benefit to the spouse of the Vested Participant to whom he was married on the Designated Benefit Commencement Date equal to 50% of the benefit amount payable during the Vested Participant's remaining life, commencing with the month in which benefits first become payable and terminating with the month in which the later of the Vested Participant's or the Vested Participant's eligible spouse's death occurs. If the Vested Participant is not married on the Designated Benefit Commencement Date, Normal Benefit Form shall mean a monthly payment for the Vested Participant's remaining life, with a minimum of 120 monthly payments guaranteed, commencing with the month in which benefits first become payable and terminating on the later of the month in which the Eligible Employee's death occurs or the month in which the 120th monthly payment occurs.

Normal Benefit Form means the normal form of benefit under the ------------------- Plan, which is a monthly life annuity.

Normal Benefit Form means the normal form of benefit under the Plan, ------------------- which shall consist of monthly payments to the Participant commencing as of the first day of the calendar month coincident with or next following the Participant's Retirement and ending with the payment for the calendar month in which the Participant dies, with the provision that, if the Participant dies before having received one hundred eighty (180) monthly payments, the Participant's Beneficiary shall continue receiving such monthly payments until a total of one hundred eighty (180) monthly payments have been made to either the Participant or his or her Beneficiary.