Common use of Severance Plan Benefits Clause in Contracts

Severance Plan Benefits. Notwithstanding Section 2(i), if Executive incurs a Separation from Service for which Executive becomes entitled to, and receives, severance benefits pursuant to the UniSource Energy Corporation Severance Pay Plan (the “Severance Plan”) and if Executive’s Separation from Service occurs within six months prior to the occurrence of a Change in Control and is effected in contemplation of such change in Control, Executive also will be entitled to Change in Control Severance Benefits pursuant to this Agreement. The payments and benefits due to Executive as Change in Control Severance Benefits then will be reduced by the amount of any payment or benefit Executive already has received pursuant to the Severance Plan.

Appears in 2 contracts

Samples: Control Agreement (Unisource Energy Corp), Change in Control Agreement (Tucson Electric Power Co)

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Severance Plan Benefits. Notwithstanding Section 2(i), if Executive incurs a Separation from Service for which Executive becomes entitled to, and receives, severance benefits pursuant to the UniSource Energy Corporation Severance Pay Plan (the “Severance Plan”) and if Executive’s Separation from Service a Change in Control occurs within six months prior to the occurrence of a Change in Control and is effected in contemplation of following such change in ControlSeparation from Service, Executive also will be entitled to Change in Control Severance Benefits pursuant to this Agreement. The payments and benefits due to Executive as Change in Control Severance Benefits then will be reduced by the amount of any payment or benefit Executive already has received pursuant to the Severance Plan.

Appears in 2 contracts

Samples: Officer Change in Control Agreement (Tucson Electric Power Co), Officer Change in Control Agreement (Tucson Electric Power Co)

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