Common use of Health Benefits After Retirement Clause in Contracts

Health Benefits After Retirement. Commencing upon Employee's Retirement, for a period of 24 months, the Company shall pay Employee each month an amount equal to $1000.00 indexed to adjust for inflation on an annual basis each December 1, with December 1, 2004, as the base date. These amounts may be used by Employee to purchase an individual health insurance policy or policies for himself and his spouse or other dependents, and to pay for other health and medical benefits.

Health Benefits After Retirement. Commencing upon Employee's Retirement, for a period of 24 months, the Company shall pay Employee each month an amount equal to $1000.00 833.33 indexed to adjust for inflation on an annual basis each December July 1, with December July 1, 2004, 2003 as the base date. These amounts may be used by Employee to purchase an individual health insurance policy or policies for himself and his spouse or other dependents, and to pay for other health and medical benefits.