Common use of Economic Equivalence Clause in Contracts

Economic Equivalence. For purposes of Section 1.23(d)(iii) above, an acquiring employer’s package of Retirement and Welfare Benefits shall be considered Economically Equivalent if, in the written opinion of the Benefits Consultant, the anticipated, employer-provided value of what Xx. Xxxxxxx is expected to derive from the acquiring employer’s Retirement and Welfare Benefits is equal to or greater than ninety percent (90%) of such value Xx. Xxxxxxx would have derived from the Company’s Retirement and Welfare Benefits using the Benefit Index.

Appears in 3 contracts

Samples: Change in Control Agreement (Southern Power Co), Change in Control Agreement (Southern Power Co), Change in Control Agreement (Southern Power Co)

AutoNDA by SimpleDocs

Economic Equivalence. For purposes of Section 1.23(d)(iii) above, an acquiring employer’s package of Retirement and Welfare Benefits shall be considered Economically Equivalent if, in the written opinion of the Benefits Consultant, the anticipated, employer-provided value of what Xx. Xxxxxxx XxXxxxx is expected to derive from the acquiring employer’s Retirement and Welfare Benefits is equal to or greater than ninety percent (90%) of such value Xx. Xxxxxxx XxXxxxx would have derived from the Company’s Retirement and Welfare Benefits using the Benefit Index.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Economic Equivalence. For purposes of Section 1.23(d)(iii) above, an acquiring employer’s package of Retirement and Welfare Benefits shall be considered Economically Equivalent if, in the written opinion of the Benefits Consultant, the anticipated, employer-provided value of what Xx. Xxxxxxx Xxxxxx is expected to derive from the acquiring employer’s Retirement and Welfare Benefits is equal to or greater than ninety percent (90%) of such value Xx. Xxxxxxx Xxxxxx would have derived from the Company’s Retirement and Welfare Benefits using the Benefit Index.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Economic Equivalence. For purposes of Section 1.23(d)(iii) above, an acquiring employer’s 's package of Retirement and Welfare Benefits shall be considered Economically Equivalent if, in the written opinion of the Benefits Consultant, the anticipated, employer-provided value of what Xx. Xxxxxxx Mr. Bowers is expected to derive from the acquiring employer’s Retirement and employer'x Xxxxxxxxxx xxd Welfare Benefits is equal to or greater than ninety percent (90%) of such value Xx. Xxxxxxx Mr. Bowers would have derived from the Company’s 's Retirement and Welfare Xxxxxxx Benefits using the Benefit Index.

Appears in 1 contract

Samples: Change in Control Agreement (Alabama Power Co)

AutoNDA by SimpleDocs

Economic Equivalence. For purposes of Section 1.23(d)(iii) above, an acquiring employer’s package of Retirement and Welfare Benefits shall be considered Economically Equivalent if, in the written opinion of the Benefits Consultant, the anticipated, employer-provided value of what Xx. Xxxxxxx Xxxxxxxxx is expected to derive from the acquiring employer’s Retirement and Welfare Benefits is equal to or greater than ninety percent (90%) of such value Xx. Xxxxxxx Xxxxxxxxx would have derived from the Company’s Retirement and Welfare Benefits using the Benefit Index.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!