Common use of Pension and Compensation Plans Clause in Contracts

Pension and Compensation Plans. The failure by the Company to continue in effect any pension or compensation plan or agreement in which Mr. Harris participates or is a party as of the xxxx xx xxe Change in Control or the elimination of Mr. Harris' participation therein, (except for axxxxx-xxx-board plan changes or terminations similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); For purposes of this Paragraph 1.(n), a "pension plan or agreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for payments upon retirement; and a "compensation plan or arrangement" shall mean any written arrangement executed by an authorized officer of the Company which provides for periodic, non-discretionary compensatory payments in the nature of bonuses.

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

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Pension and Compensation Plans. The failure by the Company to continue in effect any pension or compensation plan or agreement in which Mr. Harris Ms. Fuller participates or is a party xxxxx as of the xxxx xx xxe date of the Change in Control or the elimination of Mr. Harris' Ms. Fuller's participation thereinthereix, (except xxxxxx for axxxxxacross-xxxthe-board plan changes or terminations similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); For purposes of this Paragraph 1.(n1.(k), a "pension plan or agreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for payments upon retirement; and a "compensation plan or arrangement" shall mean any written arrangement executed by an authorized officer of the Company which provides for periodic, non-discretionary compensatory payments in the nature of bonuses.

Appears in 1 contract

Samples: Change in Control Agreement (Mirant Corp)

Pension and Compensation Plans. The failure by the Company to continue in effect any pension or compensation plan or agreement in which Mr. Harris Ms. Fuller participates or is a party as of the xxxx xx xxe xhe Change in Control or the elimination of Mr. Harris' Ms. Fuller's participation therein, (except for axxxxxxxxxxx-xxx-board plan changes or terminations similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); For purposes of this Paragraph 1.(n1.(o), a "pension plan or agreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for payments upon retirement; and a "compensation plan or arrangement" shall mean any written arrangement executed by an authorized officer of the Company which provides for periodic, non-discretionary compensatory payments in the nature of bonuses.

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

Pension and Compensation Plans. The failure by the Company to continue in effect any pension or compensation plan or agreement in which Mr. Harris Hill participates or is a party partx as of the xxxx xx xxe date of the Change in Control or the elimination of Mr. Harris' Hill's participation therein, (except for axxxxxxxxxxx xxr across-xxxthe-board plan changes or terminations similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); For purposes of this Paragraph 1.(n1.(k), a "pension plan or agreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for payments upon retirement; and a "compensation plan or arrangement" shall mean any written arrangement executed by an authorized officer of the Company which provides for periodic, non-discretionary compensatory payments in the nature of bonuses.

Appears in 1 contract

Samples: Change in Control Agreement (Mirant Corp)

Pension and Compensation Plans. The failure by the Company to continue in effect any pension or compensation plan or agreement in which Mr. Harris Boren participates or is a party as of the xxxx xx xxe the Change in Control or the elimination of Mr. Harris' Boren's participation therein, (except for axxxxxxxxxxx-xxx-board plan changes or terminations similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); For purposes of this Paragraph 1.(n), a "pension plan or agreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for payments upon retirement; and a "compensation plan or arrangement" shall mean any written arrangement executed by an authorized officer of the Company which provides for periodic, non-discretionary compensatory payments in the nature of bonuses.

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

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Pension and Compensation Plans. The failure by the Company ------------------------------- to continue in effect any "pension plan or agreement" or "compensation plan or agreement agreement" in which Mr. Harris Executive participates or is a party as of the xxxx xx xxe date of the Change in Control or the elimination of Mr. Harris' Executive's participation therein, therein (except for axxxxxacross-xxxthe-board plan changes or terminations similarly affecting at least ninety-five percent (95%) of the all Executive Employees of the Company); . For purposes of this Paragraph 1.(nsubsection (iii), a "pension plan or agreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for payments upon retirement; and a "compensation plan or arrangementagreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for periodic, 2 non-discretionary compensatory payments to employees in the nature of bonuses.;

Appears in 1 contract

Samples: Change in Control Agreement (Mirant Corp)

Pension and Compensation Plans. The failure by the Company to continue in effect any "pension plan or agreement" or "compensation plan or agreement agreement" in which Mr. Harris Executive participates or is a party as of the xxxx xx xxe date of the Change in Control or the elimination of Mr. Harris' Executive's participation therein, therein (except for axxxxxacross-xxxthe-board plan changes or terminations similarly affecting at least ninety-five percent (95%) of the all Executive Employees of the Company); . For purposes of this Paragraph 1.(nsubsection (iii), a "pension plan or agreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for payments upon retirement; and a "compensation plan or arrangementagreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for periodic, non-discretionary compensatory payments to employees in the nature of bonuses.;

Appears in 1 contract

Samples: Change in Control Agreement (Mirant Corp)

Pension and Compensation Plans. The failure by the Company to continue in effect any pension or compensation plan or agreement in which Mr. Harris Pershing participates or is a x party as of the xxxx xx xxe date of the Change in Control or the elimination of Mr. Harris' Pershing's participation thereintherxxx, (except xxxxxx for axxxxxacross-xxxthe-board plan changes or terminations similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); For purposes of this Paragraph 1.(n1.(k), a "pension plan or agreement" shall mean any written arrangement executed by an authorized officer of the Company which provides for payments upon retirement; and a "compensation plan or arrangement" shall mean any written arrangement executed by an authorized officer of the Company which provides for periodic, non-discretionary compensatory payments in the nature of bonuses.

Appears in 1 contract

Samples: Change in Control Agreement (Mirant Corp)

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