Present Value Amount

Present Value Amount. Shall mean the amount calculated by the Compensation Committee as of the date of the termination of the Executive's employment as described in paragraph 3.a., using as a mortality basis the mortality basis used by the PEC Retirement Plan for determining benefits, or if such mortality basis is not available, a mortality basis determined by the PEC Retirement Plan's consulting actuaries, and using as a discount rate, the discount rate utilized under the PEC Retirement Plan for determining lump... sum benefits assuming the Executive's last day of employment is the date of the Executive's termination of employment as described in paragraph 3.a. View More