Common use of Pension Plan, Benefit Plans and Perquisites Clause in Contracts

Pension Plan, Benefit Plans and Perquisites. The failure by the Corporation to continue to provide the Executive: (i) with pension and related benefits substantially similar as those enjoyed by him under the Encana Corporation Canadian Pension Plan and the Encana Corporation Canadian Defined Contribution Savings Plan (collectively, the “Encana Pension Plans”), except for across-the-board reductions in, or amendments to, such benefits similarly affecting all senior executives of the Corporation and relating to service or employment after the date upon which such reduction or amendment is announced; or (ii) with benefits substantially similar to those enjoyed by him under any other retirement arrangement established for the Executive, except for across-the-board reductions in, or amendments to, such benefits similarly affecting all senior executives of the Corporation and relating to service or employment after the date on which such reduction or amendment is announced; or (iii) with benefits at least substantially similar to any of the Corporation’s life insurance, medical, health and accident, disability or investment plans in which the Executive may participate at the date hereof or subsequently, or the taking of any action by the Corporation that would directly or indirectly materially reduce any such benefits or deprive the Executive of any material perquisite enjoyed by him, except for across-the-board reductions in such benefits or comparable benefits similarly affecting all senior executives of the Corporation; or (iv) with the number of paid vacation days to which the Executive is entitled in accordance with the normal vacation policy in effect in respect of the Executive as of the date hereof or subsequently;

Appears in 2 contracts

Samples: Change in Control Agreement (Encana Corp), Change in Control Agreement (Encana Corp)

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Pension Plan, Benefit Plans and Perquisites. The failure by the Corporation to continue to provide the Executive: (i) with pension and related benefits substantially similar as those enjoyed by him her under the Encana Corporation Canadian Pension Plan and the Encana Corporation Canadian Defined Contribution Savings Plan (collectively, the “Encana Pension Plans”), except for across-the-board reductions in, or amendments to, such benefits similarly affecting all senior executives of the Corporation and relating to service or employment after the date upon which such reduction or amendment is announced; or (ii) with benefits substantially similar to those enjoyed by him her under any other retirement arrangement established for the Executive, except for across-across- the-board reductions in, or amendments to, such benefits similarly affecting all senior executives of the Corporation and relating to service or employment after the date on which such reduction or amendment is announced; or (iii) with benefits at least substantially similar to any of the Corporation’s life insurance, medical, health and accident, disability or investment plans in which the Executive may participate at the date hereof or subsequently, or the taking of any action by the Corporation that would directly or indirectly materially reduce any such benefits or deprive the Executive of any material perquisite enjoyed by himher, except for across-the-board reductions in such benefits or comparable benefits similarly affecting all senior executives of the Corporation; or (iv) with the number of paid vacation days to which the Executive is entitled in accordance with the normal vacation policy in effect in respect of the Executive as of the date hereof or subsequently;

Appears in 1 contract

Samples: Change in Control Agreement (Encana Corp)

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Pension Plan, Benefit Plans and Perquisites. The failure by the Corporation to continue to provide the Executive: (i) with pension and related benefits substantially similar as those enjoyed by him under the Encana Corporation Canadian Pension Plan and the Encana Corporation Canadian Defined Contribution Savings Supplemental Plan (collectively, the “Encana Pension Plans”), except for across-the-board reductions in, or amendments to, such benefits similarly affecting all senior executives of the Corporation and relating to service or employment after the date upon on which such reduction or amendment is announced; or (ii) the failure by the Corporation to continue to provide the Executive with benefits substantially similar to those enjoyed by him under any other retirement arrangement established for the Executive, except for across-the-board reductions in, or amendments to, such benefits similarly affecting all senior executives of the Corporation and relating to service or employment after the date on which such reduction or amendment is announced; or (iii) with the failure of the Corporation to continue to provide benefits at least substantially similar to any of the Corporation’s life insurance, medical, health and accident, disability or investment plans in which the Executive may participate at the date hereof or subsequently, subsequently or the taking of any action by the Corporation that would directly or indirectly materially reduce any such benefits or deprive the Executive of any material perquisite enjoyed by him, except for across-the-board reductions in such benefits or comparable benefits similarly affecting all senior executives of the Corporation; or (iv) the failure by the Corporation to provide the Executive with the number of paid vacation days to which the Executive is entitled in accordance with the Corporation’s normal vacation policy in effect in respect of the Executive as of the date hereof or subsequently;

Appears in 1 contract

Samples: Change in Control Agreement (Encana Corp)

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