Annual Annuity Equivalent

Annual Annuity Equivalent. Shall be equal to the annual benefit payable from a single life annuity on the Executive's life from a provider of annuity products holding at least an AA rating from Moody's, Standard & Poor's, or an equivalent rating service. For purposes of this section, the amount available to invest in said 1 annuity shall be the balance attributable to the Company's matching contributions in the Executive's account in the SBERA Defined Contribution Plan.