Pension Benefits. In addition to the benefits to which the Executive is entitled under any pension or retirement plan or arrangement established by the Corporation: (i) The Executive will be credited with pensionable contributions in the Canadian Defined Contribution Savings Plan (the “Supplemental Pension Plan”), as may be amended from time to time or any successor plan thereto, for each of the 24 months included in the Severance Period; (ii) For purposes of Section 4.0(e)(i), the Executive’s pensionable earnings shall be calculated based on the lesser of: (i) 40% of the Executive’s Severance Salary Rate; and (ii) the Average Bonus; and (iii) On or prior to the 15th business day following the Date of Termination, the Executive will receive a lump sum cash payment of her accrued entitlements under the Supplemental Pension Plan, payable on the Payment Date, such amount to be determined: (A) without any gross up or other adjustment for income tax and not taking in to account the non-registered status of the Supplemental Pension Plan, and (B) assuming the Executive’s accrued entitlement under the Supplemental Pension Plan is fully vested.
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Samples: Change in Control Agreement (Ovintiv Inc.), Change in Control Agreement (Ovintiv Inc.), Change in Control Agreement (Ovintiv Inc.)
Pension Benefits. In addition to the benefits to which the Executive is entitled under any pension or retirement plan or arrangement established by the Corporation:
(i) The Executive will be credited with pensionable contributions in the Encana Corporation Canadian Defined Contribution Savings Plan (the “Supplemental Pension Plan”), as may be amended from time to time or any successor plan thereto, for each of the 24 months included in the Severance Period;Period;
(ii) For purposes of Section 4.0(e)(i), the Executive’s pensionable earnings shall be calculated based on the lesser of: (i) 40% of the Executive’s Severance Salary Rate; Rate; and (ii) the Average Bonus; Bonus; and
(iii) On or prior to the 15th business day following the Date of Termination, the Executive will receive a lump sum cash payment of her accrued entitlements under the Supplemental Pension Plan, payable on the Payment Date, such amount to be determined: (A) without any gross up or other adjustment for income tax and not taking in to account the non-registered status of the Supplemental Pension Plan, and (B) assuming the Executive’s accrued entitlement under the Supplemental Pension Plan is fully vested.
Appears in 2 contracts
Samples: Change in Control Agreement (Encana Corp), Change in Control Agreement (Encana Corp)
Pension Benefits. In addition to the benefits to which the Executive is entitled under any pension or retirement plan or arrangement established by the Corporation:
(i) The Executive will be credited with pensionable contributions in the Canadian Defined Contribution Savings Plan (the “Supplemental Pension Plan”), as may be amended from time to time or any successor plan thereto, for each of the 24 months included in the Severance Period;
(ii) For purposes of Section 4.0(e)(i), the Executive’s pensionable earnings shall be calculated based on the lesser of: (iA) 40% of the Executive’s Severance Salary Rate; and (iiB) the Average Bonus; and
(iii) On or prior to the 15th business day following the Date of Termination, the Executive will receive a lump sum cash payment of her his accrued entitlements under the Supplemental Pension Plan, payable on the Payment Date, such amount to be determined: (A) without any gross up or other adjustment for income tax and not taking in to into account the non-registered nonregistered status of the Supplemental Pension Plan, and (B) assuming the Executive’s accrued entitlement under the Supplemental Pension Plan is fully vested.
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Pension Benefits. In addition to the benefits to which the Executive is entitled under any pension or retirement plan or arrangement established by the Corporation:
(i) The Executive will be credited with pensionable contributions in the Encana Corporation Canadian Defined Contribution Savings Plan (the “Supplemental Pension Plan”), as may be amended from time to time or any successor plan thereto, for each of the 24 months included in the Severance Period;Period;
(ii) For purposes of Section 4.0(e)(i), the Executive’s pensionable earnings shall be calculated based on the lesser of: (i) 4067% of the Executive’s Severance Salary Rate; Rate; and (ii) the Average Bonus; Bonus; and
(iii) On or prior to the 15th business day following the Date of Termination, the Executive will receive a lump sum cash payment of her his accrued entitlements under the Supplemental Pension Plan, payable on the Payment Date, such amount to be determined: (A) without any gross up or other adjustment for income tax and not taking in to into account the non-registered nonregistered status of the Supplemental Pension Plan, and (B) assuming the Executive’s accrued entitlement under the Supplemental Pension Plan is fully vested.
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Pension Benefits. In addition to the benefits to which the Executive is entitled under any pension or retirement plan or arrangement established by the Corporation:
(i) The Executive will be credited with pensionable contributions in the Canadian Defined Contribution Savings Plan (the “Supplemental Pension Plan”), as may be amended from time to time or any successor plan thereto, for each of the 24 months included in the Severance Period;
(ii) For purposes of Section 4.0(e)(i), the Executive’s pensionable earnings shall be calculated based on the lesser of: (iA) 40% of the Executive’s Severance Salary Rate; and (iiB) the Average Bonus; and
(iii) On or prior to the 15th business day following the Date of Termination, the Executive will receive a lump sum cash payment of her his accrued entitlements under the Supplemental Pension Plan, payable on the Payment Date, such amount to be determined: (A) without any gross up or other adjustment for income tax and not taking in to into account the non-registered nonregistered status of the Supplemental Pension Plan, and (B) assuming the Executive’s accrued entitlement under the Supplemental Pension Plan is fully vested.and
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Pension Benefits. In addition to the benefits to which the Executive is entitled under any pension or retirement plan or arrangement established by the Corporation:
(i) The Executive will be credited with pensionable contributions in the Encana Corporation Canadian Defined Contribution Savings Plan (the “Supplemental Pension Plan”), as may be amended from time to time or any successor plan thereto, for each of the 24 months included in the Severance Period;
(ii) For purposes of Section 4.0(e)(i), the Executive’s pensionable earnings shall be calculated based on the lesser of: (i) 40% of the Executive’s Severance Salary Rate; and (ii) the Average Bonus; and
(iii) On or prior to the 15th business day following the Date of Termination, the Executive will receive a lump sum cash payment of her accrued entitlements under the Supplemental Pension Plan, payable on the Payment Date, such amount to be determined: (A) without any gross up or other adjustment for income tax and not taking in to account the non-registered status of the Supplemental Pension Plan, and (B) assuming the Executive’s accrued entitlement under the Supplemental Pension Plan is fully vested.
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Pension Benefits. In addition to the benefits to which the Executive is entitled under any pension or retirement plan or arrangement established by the Corporation:
(i) The Executive will be credited with pensionable contributions in the Encana Corporation Canadian Defined Contribution Savings Plan (the “Supplemental Pension Plan”), as may be amended from time to time or any successor plan thereto, for each of the 24 months included in the Severance Period;Period;
(ii) For purposes of Section 4.0(e)(i), the Executive’s pensionable earnings shall be calculated based on the lesser of: (iA) 40% of the Executive’s Severance Salary Rate; Rate; and (iiB) the Average Bonus; Bonus; and
(iii) On or prior to the 15th business day following the Date of Termination, the Executive will receive a lump sum cash payment of her his accrued entitlements under the Supplemental Pension Plan, payable on the Payment Date, such amount to be determined: (A) without any gross up or other adjustment for income tax and not taking in to into account the non-registered nonregistered status of the Supplemental Pension Plan, and (B) assuming the Executive’s accrued entitlement under the Supplemental Pension Plan is fully vested.
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