Common use of Supplemental Compensation Benefit Clause in Contracts

Supplemental Compensation Benefit. Upon retirement at age sixty- --------------------------------- five (65) or upon early retirement with the written approval of the Corporation, the Executive will receive the equivalent of two and one-fourth times the Executive's final annual base salary as of the January 1 occurring concurrently with or immediately preceding retirement or an average of the last five years (computed on base salary as of each January 1 of said 5-year period) whichever is greater, paid as follows: (i) Equal monthly payments for ten years equal in total to one and one-half times the final annual base salary (15% each year). If death of the Executive occurs before all payments have been made, the remaining installments will be paid to the Executive's designated beneficiary or, in the absence of such designation, to the Executive's estate. (ii) A death benefit equal to three-fourths of the Executive's annual base salary as of the January 1 occurring concurrently with or immediately preceding the Executive's retirement.

Supplemental Compensation Benefit. Upon retirement at age sixty- --------------------------------- five (65) or upon early retirement with the written approval of the Corporation, the Executive will receive the equivalent of two and one-fourth three times the Executive's final annual base salary as of the January 1 occurring concurrently with or immediately preceding retirement or an average of the last five years (computed on base salary as of each January 1 of said 5-year period) ), whichever is greater, paid as follows: (i) Equal monthly payments for ten years equal in total to one two and one-half quarter times the final annual base salary (1522.5% each year). If death of the Executive occurs before all payments have been made, the remaining installments will be paid to the Executive's designated beneficiary or, in the absence of such designation, to the Executive's estate. (ii) A death benefit equal to three-fourths of the Executive's annual base salary as of the January 1 occurring concurrently with or immediately preceding the Executive's retirement.