Deemed Retirement Benefit

Deemed Retirement Benefit. The aggregate benefits that would be payable to the Executive under the Hecla Mining Company Qualified Retirement Plan and/or any successor defined benefit plan (the "Retirement Plan") and any supplemental and/or excess retirement plans in which the Executive participates (the "SERP"), assuming that (i) the Executive's age as of the Date of Termination were increased by one year for purposes of calculating the pension reduction but not for purposes of determining... covered compensation (as those terms are defined in the Retirement Plan), (ii) the Executive's average annual earnings were calculated by assuming that the Executive had continued to receive the compensation required by Section 4(b) of this Agreement for one year, (iii) the Executive's years of service were increased by one year, and (iv) the Executive's benefits under the Retirement Plan and the SERP were fully vested. View More