Common use of Supplemental Retirement Clause in Contracts

Supplemental Retirement. Upon termination of the Officer's employment, a supplemental retirement benefit shall be payable to him or his beneficiary in accordance with the provisions of this Section (4)(f). The annual supplemental retirement benefit, expressed in the form of a single life annuity beginning at the Officer's Normal Retirement Date (as defined in the Company's Pension Plan), shall be the excess, if any, of (A) less (B), where (A) is 1.9% (.019) of the Officer's highest three-year average Total Compensation times the number of years at termination (not to exceed twenty-five) of the Officer's service as an employee of the Company plus 0.1% (.001) of the Officer's highest three-year average Total Compensation times the number of years at termination in excess of twenty-five (not to exceed five) of the Officer's service as an employee of the Company, and (B) is the benefit payable under the Company's Pension Plan. Payment of the supplemental retirement benefit shall begin at the same time as the Officer's Pension Plan benefit payments and shall be subject to the same reductions for early commencement. The supplemental retirement benefit may be paid in any form available under the Pension Plan, as elected by the Officer prior to benefit payment commencement. The conversion factors between forms of benefits used for purposes of the Pension Plan shall be used for purposes of the supplemental retirement benefit. The form of payment of the supplemental retirement benefit may be the same or different from the form of payment of the Officer's benefits under the Pension Plan. If the form of payment provides for a death benefit, such benefit shall be payable to the Officer's estate, unless another beneficiary has been designated by the Officer. If the Officer dies prior to the commencement of benefit payments, the death benefit provisions of the Pension Plan shall apply, mutatis mutandis, to the supplemental retirement benefit payable pursuant to this Section (4)(f). The supplemental retirement benefit shall be paid from the The United Illuminating Company Supplemental Retirement Trust established pursuant to the Agreement, made as of the 1st day of June, 1995 and as amended effective December 31,1995, between the Company and State Street Bank and Trust Company, as Trustee.

Supplemental Retirement. Upon termination of the Officer's employment, a supplemental retirement benefit shall be payable to him or his beneficiary in accordance with the provisions of this Section (4)(f). The annual supplemental retirement benefit, expressed in the form of a single life annuity beginning at the Officer's Normal Retirement Date (as defined in the Company's Pension Plan), shall be the excess, if any, of (A) less (B), where (A) is 1.92.0% (.019.020) of the Officer's highest three-year average Total Compensation times the number of years at termination (not to exceed twenty-five) of the Officer's service as an employee of the Company plus 0.1% (.001) of the Officer's highest three-year average Total Compensation times the number of years at termination in excess of twenty-five (not to exceed fivethirty) of the Officer's service as an employee of the Company, and (B) is the benefit payable under the Company's Pension Plan. Payment of the supplemental retirement benefit shall begin at the same time as the Officer's Pension Plan benefit payments and shall be subject to the same reductions for early commencement. The supplemental retirement benefit may be paid in any form available under the Pension Plan, as elected by the Officer prior to benefit payment commencement. The conversion factors between forms of benefits used for purposes of the Pension Plan shall be used for purposes of the supplemental retirement benefit. The form of payment of the supplemental retirement benefit may be the same or different from the form of payment of the Officer's benefits under the Pension Plan. If the form of payment provides for a death benefit, such benefit shall be payable to the Officer's estate, unless another beneficiary has been designated by the Officer. If the Officer dies prior to the commencement of benefit payments, the death benefit provisions of the Pension Plan shall apply, mutatis mutandis, to the supplemental retirement benefit payable pursuant to this Section (4)(f). The supplemental retirement benefit shall be paid from the The United Illuminating Company Supplemental Retirement Trust established pursuant to the Agreement, made as of the 1st day of June, 1995 and as amended effective December 31,1995, between the Company and State Street Bank and Trust Company, as Trustee.

Supplemental Retirement. Upon termination of the OfficerExecutive's employment, a supplemental retirement benefit shall be payable to him or his beneficiary in accordance with the provisions of this Section (4)(f). The annual supplemental retirement benefit, expressed in the form of a single life annuity beginning at the OfficerExecutive's Normal Retirement Date (as defined in the Company's Pension Plan), shall be the excess, if any, of (A) less (B), where (A) is 1.92.2% (.019.022) of the OfficerExecutive's highest three-year average Total Compensation times the number of years at termination (not to exceed twenty-fivethirty) of the OfficerExecutive's service as an employee of the Company plus 0.1% (.001) of the Officer's highest three-year average Total Compensation times the number of years at termination in excess of twenty-five (not to exceed five) of the Officer's service deemed as an employee of the Company, and (B) is the benefit payable under the Company's Pension Plan. Payment of the supplemental retirement benefit shall begin at the same time as the OfficerExecutive's Pension Plan benefit payments and shall be subject to the same reductions for early commencement, except that the reductions shall be based on the Executive's service deemed as an employee of the Company. The supplemental retirement benefit may be paid in any form available under the Pension Plan, as elected by the Officer Executive prior to benefit payment commencement. The conversion factors between forms of benefits used for purposes of the Pension Plan shall be used for purposes of the supplemental retirement benefit. The form of payment of the supplemental retirement benefit may be the same or different from the form of payment of the OfficerExecutive's benefits under the Pension Plan. If the form of payment provides for a death benefit, such benefit shall be payable to the OfficerExecutive's estate, unless another beneficiary has been designated by the OfficerExecutive. If the Officer Executive dies prior to the commencement of benefit payments, the death benefit provisions of the Pension Plan shall apply, mutatis mutandis, to the supplemental retirement benefit payable pursuant to this Section (4)(f). The supplemental retirement benefit shall be paid from the The United Illuminating Company Supplemental Retirement Trust established pursuant to the Agreement, made as of the 1st day of June, 1995 and as amended effective December 31,1995, between the Company and State Street Bank and Trust Company, as Trustee.

Supplemental Retirement. Upon termination of the OfficerExecutive's employment, a supplemental retirement benefit shall be payable to him or his beneficiary in accordance with the provisions of this Section (4)(f). The annual supplemental retirement benefit, expressed in the form of a single life annuity beginning at the OfficerExecutive's Normal Retirement Date (as defined in the Company's Pension Plan), shall be the excess, if any, of (A) less (B), where (A) is 1.92.2% (.019.022) of the OfficerExecutive's highest three-year average Total Compensation times the number of years at termination (not to exceed twenty-fivethirty) of the OfficerExecutive's service as an employee of the Company plus 0.1% (.001) of the Officer's highest three-year average Total Compensation times the number of years at termination in excess of twenty-five (not to exceed five) of the Officer's service deemed as an employee of the Company, and (B) is the benefit payable under the Company's Pension Plan. For purposes of this Agreement, the Executive's service deemed as an employee of the Company commenced on July 1, 1959. Payment of the supplemental retirement benefit shall begin at the same time as the OfficerExecutive's Pension Plan benefit payments and shall be subject to the same reductions for early commencement, except that the reductions shall be based on the Executive's service deemed as an employee of the Company. The supplemental retirement benefit may be paid in any form available under the Pension Plan, as elected by the Officer Executive prior to benefit payment commencement. The conversion factors between forms of benefits used for purposes of the Pension Plan shall be used for purposes of the supplemental retirement benefit. The form of payment of the supplemental retirement benefit may be the same or different from the form of payment of the OfficerExecutive's benefits under the Pension Plan. If the form of payment provides for a death benefit, such benefit shall be payable to the OfficerExecutive's estate, unless another beneficiary has been designated by the OfficerExecutive. If the Officer Executive dies prior to the commencement of benefit payments, the death benefit provisions of the Pension Plan shall apply, mutatis mutandis, to the supplemental retirement benefit payable pursuant to this Section (4)(f). The supplemental retirement benefit shall be paid from the The United Illuminating Company Supplemental Retirement Trust established pursuant to the Agreement, made as of the 1st day of June, 1995 and as amended effective December 31,1995, between the Company and State Street Bank and Trust Company, as Trustee.

Supplemental Retirement. Upon termination of the Officer's employment, a supplemental retirement benefit shall be payable to him or his beneficiary in accordance with the provisions of this Section (4)(f4)(g). The annual supplemental retirement benefit, expressed in the form of a single life annuity beginning at the Officer's Normal Retirement Date (as defined in the Company's Pension Plan), shall be the excess, if any, of (A) less (B), where (A) is 1.92.0% (.019.020) of the Officer's highest three-year average Total Compensation times the number of years at termination (not to exceed twenty-fivethirty) of the Officer's service as an employee of the Company plus 0.1% (.001) of the Officer's highest three-year average Total Compensation times the number of years at termination in excess of twenty-five (not to exceed five) of the Officer's service deemed as an employee of the Company, and (B) is the benefit payable under the Company's Pension Plan. Payment of the supplemental retirement benefit shall begin at the same time as the Officer's Pension Plan benefit payments and shall be subject to the same reductions for early commencement, except that the reductions shall be based on the Officer's service deemed as an employee of the Company. The supplemental retirement benefit may be paid in any form available under the Pension Plan, as elected by the Officer prior to benefit payment commencement. The conversion factors between forms of benefits used for purposes of the Pension Plan shall be used for purposes of the supplemental retirement benefit. The form of payment of the supplemental retirement benefit may be the same or different from the form of payment of the Officer's benefits under the Pension Plan. If the form of payment provides for a death benefit, such benefit shall be payable to the Officer's estate, unless another beneficiary has been designated by the Officer. If the Officer dies prior to the commencement of benefit payments, the death benefit provisions of the Pension Plan shall apply, mutatis mutandis, to the supplemental retirement benefit payable pursuant to this Section (4)(f4)(g). The supplemental retirement benefit shall be paid from the The United Illuminating Company Supplemental Retirement Trust established pursuant to the Agreement, made as of the 1st day of June, 1995 and as amended effective December 31,1995, between the Company and State Street Bank and Trust Company, as Trustee.