EXHIBIT 10.56

 

EXHIBIT 1  to AMENDMENT NO. 1 TO SALARY CONTINUATION AGREEMENT

 

SHIRLEY GAIL WILBURN

 

Birth Date: 2/4/1943

 

Early Retirement

 

Early Involuntary

 

Disability

 

Change of Control

Plan Anniversary Date: 1/1/2006

 

 

 

 

 

 

 

 

Normal Retirement: 12/31/2013 Age 70

 

Monthly Installment

 

Termination

 

Monthly Installments

 

Lump Sum Payable

Normal Retirement Payment: Monthly for 15 years

 

Payable at Termination

 

Lump Sum Payable at

 

Payable at Termination

 

at

 

 

for 15 Years

 

Normal Retirement Date

 

for 15 Years

 

Termination

 

Period
Ending

 

Discount
Rate

 

Benefit
Level (2)

 

Accrual
Balance

 

Vesting

 

Based on
Accrual

 

Vesting

 

Based on
Accrual

 

Vesting

 

Based on
Accrual

 

Vesting

 

Based on
Accrual

 

 

 

(1)

 

(2)

 

(3)

 

(4)

 

(5)

 

(6)

 

(7)

 

(8)

 

(9)

 

(10)

 

(11)

 

Dec 2005 (1)

 

6.25

%

10,000

 

7,688

 

20

%

1,538

 

0

%

—

 

100

%

791

 

100

%

97,190

 

Dec 2006

 

6.25

%

10,000

 

16,592

 

30

%

4,978

 

0

%

—

 

100

%

1,707

 

100

%

97,190

 

Dec 2007

 

6.25

%

10,000

 

26,068

 

40

%

10,427

 

0

%

—

 

100

%

2,682

 

100

%

97,190

 

Dec 2008

 

6.25

%

10,000

 

36,154

 

50

%

18,077

 

20

%

9,875

 

100

%

3,720

 

100

%

97,190

 

Dec 2009

 

6.25

%

10,000

 

46,889

 

60

%

28,133

 

30

%

18,050

 

100

%

4,824

 

100

%

97,190

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dec 2010

 

6.25

%

10,000

 

58,314

 

70

%

40,820

 

40

%

28,122

 

100

%

6,000

 

100

%

97,190

 

Dec 2011

 

6.25

%

10,000

 

70,474

 

80

%

56,379

 

50

%

39,916

 

100

%

7,251

 

100

%

97,190

 

Dec 2012

 

6.25

%

10,000

 

83,416

 

90

%

75,074

 

60

%

53,269

 

100

%

8,583

 

100

%

97,190

 

Dec 2013

 

6.25

%

10,000

 

97,190

 

100

%

97,190

 

100

%

97,190

 

100

%

10,000

 

100

%

97,190

 

 

December 31, 2013 Retirement; January 31, 2014 First Payment Date

 

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(1) The first line reflects 11 months of data, February 2005 to December 2005.

(2) The benefit amount includes a 3.00% nonguaranteed inflator during the payout
period.

*                 The purpose of this hypothetical illustration is to show the
participant’s annual benefit based on various termination assumptions.  Actual
benefits are based on the terms and provisions of the plan agreement executed
between the company and participant and may differ from those shown.

 

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