Schedule of Employment Continuation Agreements for Named Executive Officers (January 1, 2009)

Summary

This agreement outlines the severance benefits for certain executive officers if their employment ends following a change of control. Laurence M. Downes, the President and CEO, will receive three times his annual base salary plus the average of his last three annual bonuses. Other named executives, including the Senior Vice President and General Counsel, Senior Vice President of Corporate Affairs and Marketing, Senior Vice President and CFO, and Executive Vice President and COO of NJR Energy Services, will each receive two times their annual base salary plus the average of their last three annual bonuses. These benefits are triggered by a change of control event.

EX-10.12A 10 exh10-12a.htm SCHEDULE OF EMPLOYMENT CONTINUATION AGREEMENT exh10-12a.htm

Exhibit 10.12(a)

Schedule of Employment Continuation Agreements of Named Executive Officers dated January 1, 2009.

Name	Termination Benefit
Laurence M. Downes, President and Chief Executive Officer	Three times the sum, of (x) his then annual base salary and (y) the average of his annual bonuses paid or payable with respect to the last three calendar years ended prior to the Change of Control.
Mariellen Dugan, Senior Vice President and General Counsel	Two times the sum, of (x) her then annual base salary and (y) the average of her annual bonuses paid or payable with respect to the last three calendar years ended prior to the Change of Control (“2x”).
Kathleen T. Ellis, Senior Vice President, Corporate Affairs and Marketing	2x
Glenn C. Lockwood, Senior Vice President and Chief Financial Officer	2x
Joseph P. Shields, Executive Vice President and Chief Operating Officer, NJR Energy Services Company	2x