Definition of Post-Retirement Welfare Amount


Post-Retirement Welfare Amount means the value, at the Closing, of the accumulated postretirement benefit obligations (as defined by SFAS No. 106) under any of the Transferred Plans related to medical or health benefits, or life insurance or other benefits (through insurance or otherwise) for any Morton Employee in Canada or the Bahamas only or any eligible dependent or beneficiary of any Morton Employee in Canada or the Bahamas after his or her retirement or other termination of employment, determined using the assumptions used in the 12/31/2008 year-end SFAS No. 158 plan disclosures, except that the discount rate actually used by such plan in such year-end disclosures shall be updated to reflect any changes in such discount rate between year-end and Closing.
Sample 1 Sample 2