Common use of Supplemental Benefit Clause in Contracts

Supplemental Benefit. If the Officer retires at or after age 55 but prior to his or her Normal Retirement Date with ten or more years of Continuous Employment, the Officer shall receive the Supplemental Benefit described in Article III commencing on the first day of the month following the Officer’s retirement from the Company as both an officer and an employee. If the Officer’s Supplemental Benefit begins prior to age 62, the monthly amount shall be reduced by one-quarter of one percent (.25%) for each month by which the date on which the Officer retires precedes his or her Normal Retirement Date. The reduction factors will be applied to the Officer’s Supplemental Benefit prior to any offsets described in Paragraphs 3.1(a)(i), 3.1(a)(ii) and 3.1(a)(iii).

Supplemental Benefit. If the Officer retires Retires at or after age 55 but prior to his or her Normal Retirement Date with ten or more years of Continuous Employment and five or more years of Continuous SRP Employment, the Officer shall receive the Supplemental Benefit described in Article III commencing on the first day of the month following the Officer’s retirement Separation from Service (but subject to the Company as both an officer and an employee6-month delay pursuant to Section 3.1(c)(ii)). If the Officer’s Supplemental Benefit begins Separation from Service occurs more than one month prior to age 62, the monthly amount shall be reduced by onefive-quarter twelfths of one percent (.25.4167%) for each month by which the date on which the Officer retires Separation from Service precedes his or her Normal Retirement Date. The reduction factors will be applied to the Officer’s Supplemental Benefit prior to any offsets offset described in Paragraphs 3.1(a)(i), 3.1(a)(ii) and 3.1(a)(iii)Section 3.1.

Supplemental Benefit. If the Officer retires at or after age 55 but prior to his or her Normal Retirement Date with ten or more years of Continuous Employment, and five or more years of Continuous SRP Employment, the Officer shall receive the Supplemental Benefit described in Article III commencing on the first day of the month following the Officer’s retirement from the Company as both an officer and an employee. If the Officer’s Supplemental Benefit begins prior to age 62, the monthly amount shall be reduced by onefive-quarter twelfths of one percent (.25.4167%) for each month by which the date on which the Officer retires precedes his or her Normal Retirement Date. The reduction factors will be applied to the Officer’s Supplemental Benefit prior to any offsets described in Paragraphs 3.1(a)(i), 3.1(a)(ii) and 3.1(a)(iii).

Supplemental Benefit. If the Officer retires Retires at or after age 55 but prior to his or her Normal Retirement Date with ten or more years of Continuous Employment, the Officer shall receive the Supplemental Benefit described in Article III commencing on the first day of the month following the Officer’s retirement Separation from Service (but subject to the Company as both an officer and an employee6-month delay pursuant to Section 3.1(c)(ii)). If the Officer’s Supplemental Benefit begins Separation from Service occurs more than one month prior to age 62, the monthly amount shall be reduced by one-quarter of one percent (.25%) for each month by which the date on which the Officer retires Separation from Service precedes his or her Normal Retirement Date; provided, however, that there shall be no reduction if the Officer has been an Eligible Officer for ten or more years after April 21, 1998. The reduction factors will be applied to the Officer’s Supplemental Benefit prior to any offsets offset described in Paragraphs 3.1(a)(i), 3.1(a)(ii) and 3.1(a)(iiiSection 3.1(a).

Supplemental Benefit. If the Officer retires Retires at or after age 55 but prior to his or her Normal Retirement Date with ten or more years of Continuous Employment, the Officer shall receive the Supplemental Benefit described in Article III commencing on the first day of the month following the Officer’s retirement Separation from Service (but subject to the Company as both an officer and an employee6-month delay pursuant to Section 3.1(c)(ii)). If the Officer’s Supplemental Benefit begins Separation from Service occurs more than one month prior to age 62, the monthly amount shall be reduced by one-quarter of one percent (.25%) for each month by which the date on which the Officer retires Separation from Service precedes his or her Normal Retirement Date. The reduction factors will be applied to the Officer’s Supplemental Benefit prior to any offsets offset described in Paragraphs 3.1(a)(i), 3.1(a)(ii) and 3.1(a)(iii)Section 3.1.