Common use of Social Security Benefits Clause in Contracts

Social Security Benefits. The monthly unreduced primary (not family) retirement benefits under the United States Social Security Act that the Executive would be eligible for if an application for such benefits were made as of the Executive's 65/th/ birthday, assuming the Executive had earnings at or above the maximum contribution and benefit base under Section 230 of the United States Social Security Act for his working career (For purposes of this Section 2.1.1.1, if Executive's Termination of Employment under this Agreement occurs prior to Executive's attainment of age 65 the calculation of the Social Security benefit under this Section 2.1.1.1 shall be based on the maximum social security benefit payable to an age 65 fully insured individual as of the date of the Executive's Termination of Employment, increased by 3% per year to the date the Executive would have attained age 65)."

Social Security Benefits. The One-half (1/2) of the monthly unreduced primary (not family) retirement benefits under the United States Social Security Act that the Executive would be eligible for if an application for such benefits were made as of the Executive's 65/th/ 65th birthday, assuming the Executive had earnings at or above the maximum contribution and benefit base under Section 230 of the United States Social Security Act for his working career (For purposes of this Section 2.1.1.1, if Executive's Termination of Employment under this Agreement occurs prior to Executive's attainment of age 65 the calculation of the Social Security benefit under this Section 2.1.1.1 shall be based on the maximum social security benefit payable to an age 65 fully insured individual as of the date of the Executive's Termination of Employment, increased by 3% per year to the date the Executive would have attained age 65)."; and