Common use of Termination of Employment Prior to Age Clause in Contracts

Termination of Employment Prior to Age. 60 In the case of the Executive's termination of employment with the Company prior to attaining age 60 (other than by reason of the Executive's death or Disability) but after completing 10 years of Vesting Service, the amount of the Executive's Supplemental Retirement Benefit shall be equal to the Executive's Unreduced Supplemental Retirement Benefit (computed on the basis of the Vesting Service which the Executive would have completed had the Executive remained in the employ of the Company until attainment of age 60), multiplied by a fraction, the numerator of which is the number of the Executive's years of Vesting Service at termination of employment (up to a maximum of 20) and the denominator of which is the number of years of Vesting Service (up to a maximum of 20) which the Executive would have completed had the Executive remained in the employ of the Company until attainment of age 60, offset by the amount of the Executive's Other Company Plan Benefits; provided that Other Company Plan Benefits shall be assumed to commence on the first day of the month after the Executive's attainment of age 60 and to be paid in the form of a joint and two-thirds survivor annuity unless Executive does not have a Beneficiary in which case benefits shall be assumed paid in the form of a life annuity. The Executive's Supplemental Retirement Benefit under this Section 3 shall be payable monthly for life commencing on the first day of the month following the Executive's attainment of age 60.

Termination of Employment Prior to Age. 60 In the case of the Executive's ’s termination of employment with the Company prior to attaining age 60 (other than by reason of the Executive's ’s death or Disability) but after completing 10 years of Vesting Service, the amount of the Executive's ’s Supplemental Retirement Benefit shall be equal to the Executive's ’s Unreduced Supplemental Retirement Benefit 7 (computed on the basis of the Vesting Service which the Executive would have completed had the Executive remained in the employ of the Company until attainment of age 60), multiplied by a fraction, fraction the numerator of which is the number of the Executive's ’s years of Vesting Service at termination of employment (up to a maximum of 20) and the denominator of which is the number of years of Vesting Service (up to a maximum of 20) which the Executive would have completed had the Executive remained in the employ of the Company until attainment of age 60, offset by the amount of the Executive's ’s Other Company Plan Benefits; provided that Other Company Plan Benefits shall be assumed to commence on the first day of the month after the Executive's ’s attainment of age 60 and to be paid in the form of a joint and two-thirds survivor annuity unless Executive does not have a Beneficiary in which case benefits shall be assumed paid in the form of a life annuity. The Executive's ’s Supplemental Retirement Benefit under this Section 3 shall be payable monthly for life commencing on the first day of the month following the Executive's ’s attainment of age 60.