Common use of Supplemental Pension Clause in Contracts

Supplemental Pension. As additional compensation, the Company will provide nonqualified deferred compensation to the Executive after termination of his employment. The amount of the deferred compensation will be measured solely by the cash surrender value, at the time payment of the deferred compensation is due, of one or more life insurance contracts (as defined in Internal Revenue Code Section 7702) on the life of the Executive, purchased by or on behalf of the Company solely with the annual premiums described below. Such life insurance contracts shall provide such insurance coverage and contract terms (consistent with the premium limits described below), and shall be purchased from such one or more insurance companies, as shall be acceptable to the Executive. On the first business day of each calendar year (or the date of the execution of this Agreement in the case of 1997) during the Executive's service under this Agreement, the Company shall provide for the payment of total premiums, under all such life insurance contracts in the aggregate, equal to the sum of:

Supplemental Pension. As additional compensation, the Company will provide nonqualified deferred compensation to the Executive after termination of his employment. The amount of the deferred compensation will be measured solely by the cash surrender value, at the time payment of the deferred compensation is due, of one or more life insurance contracts (as defined in Internal Revenue Code Section ss. 7702) on the life of the Executive, purchased by or on behalf of the Company solely with the annual premiums described below. Such life insurance contracts shall provide such insurance coverage and contract terms (consistent with the premium limits described below), and shall be purchased from such one or more insurance companies, as shall be acceptable to the Executive. On the first business day of each calendar year (or the date of the execution of this Agreement in the case of 1997) during the Executive's service under this Agreement (or under the Initial Employment Agreement), the Company shall provide for the payment of total premiums, under all such life insurance contracts in the aggregate, equal to the sum of:

Supplemental Pension. As additional compensation, the Company will provide nonqualified deferred compensation to the Executive after termination of his employment. The amount of the deferred compensation will be measured solely by the cash surrender value, at the time payment of the deferred compensation is due, of one or more life insurance contracts (as defined in Internal Revenue Code Section ss. 7702) on the life of the Executive, purchased by or on behalf of the Company solely with the annual premiums described below. Such life insurance contracts shall provide such insurance coverage and contract terms (consistent with the premium limits described below), and shall be purchased from such one or more insurance companies, as shall be acceptable to the Executive. On the first business day of each calendar year (or the date of the execution of this Agreement in the case of 1997) during the Executive's service under this Agreement, the Company shall provide for the payment of total premiums, under all such life insurance contracts in the aggregate, equal to the sum of: