Common use of Investment Plan Clause in Contracts

Investment Plan. The Corporation shall pay the Executive the maximum contribution the Corporation would have been required to make on behalf of the Executive to the Corporation’s Canadian Investment Plan in respect of the Severance Period if the Executive had remained fully employed and elected to have the Corporation match his Investment Plan contribution, determined as if the Executive continued to make contributions to the Corporation’s Investment Plan at a rate equal to the contributions actually made by him under the Investment Plan in the last complete calendar year immediately preceding the Date of Termination. This payment will be made in cash, in a lump sum, on the Payment Date.

Appears in 2 contracts

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

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Investment Plan. The Corporation shall pay the Executive the maximum contribution the Corporation would have been required to make on behalf of the Executive to the Corporation’s Canadian Investment Plan in respect of the Severance Period if the Executive had remained fully employed and had elected to have the Corporation match his her Investment Plan contribution, determined as if the Executive continued to make contributions to the Corporation’s Investment Plan at a rate equal to the contributions actually made by him her under the Investment Plan in the last complete calendar year immediately preceding the Date of Termination. This payment will be made in cash, in a lump sum, on the Payment Date.

Appears in 1 contract

Samples: Change in Control Agreement (Encana Corp)

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Investment Plan. The Corporation shall pay the Executive the maximum contribution that the Corporation would have been required to make on behalf of the Executive to the Corporation’s Canadian Investment Plan investment plan in respect of the Severance Period if the Executive had remained he were fully employed and elected to have the Corporation match his Investment Plan contribution, investment plan contribution determined as if the Executive continued to make contributions to the Corporation’s Investment Plan investment plan at a rate equal to the contributions actually made by him under the Investment Plan investment plan in the last complete calendar year immediately preceding the Date of Termination. This payment will be made in cash, in a lump sum, sum on the Payment Date.

Appears in 1 contract

Samples: Change in Control Agreement (Encana Corp)

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