ANNUITY FUNDING AMOUNT Clause Samples

ANNUITY FUNDING AMOUNT. Upon the later of (i) the date Executive actually retires from employment with the Company, or (ii) the Executive's 55th birthday, Company will pay to Executive an amount of money equal to the amount set forth in the following Retirement Payment Table which corresponds to the Executive's age on the date he retires. If the Executive should die after his 55th birthday but before he actually retires from the Company, the Company shall immediately pay to the Executive's Beneficiar(ies) or Estate the amount the Company would have paid to Executive had he retired immediately prior to his death. In the event of Executive's death before the Executive's 55th birthday, the Company will immediately pay to Executive's Beneficiar(ies) or Estate one-half the amount that would otherwise be paid to Executive were Executive to have retired on his 55th birthday. The amount payable under this Section 5(a) is referred to as the "Annuity Funding Amount." -------------------------------------------- RETIREMENT PAYMENT TABLE -------------------------------------------- ANNUITY RETIREMENT FUNDING AGE AMOUNT ----------------------- -------------------- 55 2,917,000 ----------------------- -------------------- 56 3,031,000 ----------------------- -------------------- 57 3,149,000 ----------------------- -------------------- 58 3,272,000 ----------------------- -------------------- 59 3,400,000 ----------------------- -------------------- 60 3,532,000 ----------------------- -------------------- 61 3,670,000 ----------------------- -------------------- 62 3,814,000 ----------------------- -------------------- 63 3,963,000 ----------------------- -------------------- 64 4,117,000 ----------------------- -------------------- 65 4,278,000 ----------------------- -------------------- 66 4,445,000 ----------------------- -------------------- 67 4,619,000 ----------------------- -------------------- 68 4,799,000 ----------------------- -------------------- 69 4,986,000 ----------------------- -------------------- 70 5,181,000 ----------------------- -------------------- 71 or older 5,383,000 ----------------------- --------------------