Cox Claims Bill SB267/HB789

Item 290 #1c

Language
Page 218, line 2, strike "$7,628,772" and insert "$8,288,772".
Page 218, after line 19, insert:
"C.1. Pursuant to Senate Bill 267/House Bill 789, from the amounts appropriated in Insurance Services, there shall be paid for the relief of Jeffrey D. Cox from the general fund, upon execution of a release of all claims he may have against the Commonwealth or any agency, instrumentality, officer, employee, or political subdivision, (i) the sum of $350,000 to be paid to Jeffrey D. Cox on or before August 1, 2002, by check issued by the State Treasurer on warrant of the Comptroller and (ii) an annuity for the primary benefit of Jeffrey D. Cox providing for equal monthly payments, for a period certain of ten years commencing on or before September 1, 2002, in the cumulative amount of $400,000.  
2.  The State Treasurer shall purchase the annuity at the lowest cost available from any A+ rated company, including any A+ rated company from which the State Lottery Department may purchase an annuity, and such annuity shall contain beneficiary provisions providing for the annuity's continued disbursement in the event of the death of Jeffrey D. Cox."

Explanation
(This amendment is self-explanatory.)