Common use of Retirement Income Clause in Contracts

Retirement Income. Executive has become vested in the retirement income provided for in Executive's previous employment contract with the Company. Such retirement income is payable as set forth and subject to the provisions of this Agreement. The Company shall provide Executive with retirement income, with a lifetime survivor benefit to Executive's spouse, in an amount equal to fifty percent (50%) of Executive's Base Compensation in effect on the date of Executive's retirement, payable on a monthly basis as set forth below:

Retirement Income. Executive has become vested in the retirement income provided for in Executive's previous employment contract with the Company. Such retirement income is payable as set forth and subject to the provisions of this Agreement. The Company shall provide Executive with retirement income, with a lifetime survivor benefit to Executive's spousespouse to whom Executive is married on the date of this Agreement (hereinafter referred to as "Executive's Spouse"), in an amount equal to fifty percent (50%) of Executive's Base Compensation in effect on the date of Executive's retirement, payable on a monthly basis as set forth below: