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~ The "final average monthly earnings" shall mean the
average oE the "Monthly Earnings" as defined in Arti-
cle II, Definitions of Terms, in the five consecutive
calendar years preceding his normal retirement date;
except that the "final average monthly earninqs" used
in determining the benefits for an employee who has
not been a Pa.rticipant hereunder during five calendar
~ years shall be such Participant's average "Monthly -
Earnings" for the complete calendar years during all
or part.of which he was a Participant hereunder.
V:2 A Particpant's "prospective monthly retirement in~ome"
during any accrual Computation Period prio~ to the
time he is within five years of his Normal Retirement
Date will be dekermined on the~basis of his "monthly .
Earnings" as defined in Article II, DeEinitions of
Terms. The "prospective monthly retirement income"
during the period in which a Participant is within
five years. oE his Normal Retirement Date will be
determined on che basis of the average monthly earn-
ings of the Particip~nt in the "final averaqe monthly
earnings" period elapsed to date.
V:3 The monthly rPtirement ann~ity of the normal annuity
form, to which a Participant shall be entitled upon
~ the attainnent of Normal Retirement Dace shall be as
specified bY the Em lo er in Item 9 in the Adoption
Agreement. The minimum amount o• prospective ~et ce-
ment benefit shall not be less than the amount specified
by the Employer in Item 10 in the Adoption Agre me
ent.
V:4 The monthly retirement annuity of a Participant attri-
butable to the excess percentage shall be reduced one-
fifteenth for each year less than fifteen years of
service with the Fmployer at Normal Retirement Date. ~
V:5 The highest annual benefit payable to a Participant,
in the fbrm oE a straiqht-li~e annuity, shall not
exceed the ~lesser oE (a) $75,000, or (b) l0U percent
of his high-three-years average compensation. Any
Participant who cetires with less than 20 years of
service shall have the maximum allowable benefit
propo~tionally reduced for each year less than 10
years of service with the Employer, but not below
$10,000.00 For the purposes of this subsection, all •
defined benefit plans of the Emplo~rer will be con-
sidered as a single defined benefit plan.
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