Common use of Benefit Amount - Postretirement Clause in Contracts

Benefit Amount - Postretirement. The life insurance benefits provided under this Schedule shall continue for a period of ten (10) years from the date of the Executive's retirement. If the Executive shall die within one year after the date of retirement, the Company shall pay to the beneficiary designated by the Executive in writing (or, if the Executive fails to designate a beneficiary, to the Executive's estate) a lump sum equal to one and one-half (1-1/2) times the Executive's base salary in effect on the date of the Executive's retirement. Thereafter, on each yearly anniversary after commencement of such ten (10) year period, the amount of such life insurance benefit shall be decreased by ten percent (10%) of the amount of such benefit in effect at the commencement of such ten (10) year period. If the Executive is alive on the tenth (10th) anniversary of the commencement of such ten (10) year period, the life insurance benefits provided under this Schedule shall cease and expire and be of no further force and effect and the Company shall have no further obligation hereunder.

Benefit Amount - Postretirement. The life insurance benefits ------------------------------- provided under this Schedule shall continue for a period of ten (10) years from the date of the Executive's retirement. If the Executive shall die within one year after the date of retirement, the Company shall pay to the beneficiary designated by the Executive in writing (or, if the Executive fails to designate a beneficiary, to the Executive's estate) a lump sum equal to one and one-half (1-1/2) times the Executive's base salary in effect on the date of the Executive's retirement. Thereafter, on each yearly anniversary after commencement of such ten (10) year period, the amount of such life insurance benefit shall be decreased decrease by ten percent (10%) of the amount of such benefit in effect at the commencement of such ten (10) year period. If the Executive is alive on the tenth (10th) anniversary of the commencement of such ten (10) year period, the life insurance benefits provided under this Schedule shall cease and expire and be of no further force and effect and the Company shall have no further obligation hereunder.