Document:

EX-10.4

 Exhibit 10.4 

EMPLOYMENT AGREEMENT 

AGREEMENT (the “Agreement”), effective as of July 25, 2018 (the “Commencement Date”), by and between UNITIL
CORPORATION, a New Hampshire corporation (the “Company”), and THOMAS P. MEISSNER, JR. (the “Executive”). 
 The Company
desires to continue to employ the Executive, and the Executive is willing to continue to be employed by the Company, on the terms and conditions of this Agreement. 

Accordingly, in consideration of the premises and the respective covenants and agreements of the parties herein contained, and intending to be
legally bound hereby, the parties hereto agree as follows: 
 1.        Employment. The
Company hereby agrees to continue to employ the Executive, and the Executive hereby agrees to continue to be employed by the Company, on the terms and conditions set forth herein. 

2.        Term. The employment of the Executive under this Agreement shall commence on the
Commencement Date and shall end at the close of business on April 24, 2021 (the “Term”). 

3.        Title, Duties and Authority. The Executive shall serve as Chairman of the Board of
Directors (the “Board”) and as a member of the Board (in each case to the extent (i) the Executive is elected to the Board by the Company’s shareholders, (ii) the Executive has not resigned from the Board and (iii) the
Executive holding that position is consistent with the Company’s bylaws then in effect), and as Chief Executive Officer and President of the Company, and shall have such responsibilities and duties for the Company and its subsidiaries
consistent with the Executive’s positions as Chairman and Board member (in each case if the Executive holds those positions), Chief Executive Officer and President. The Executive shall have all of the powers and duties usually incident to the
offices of Chairman (if the Executive holds that position), Chief Executive Officer and President. The Executive shall devote substantially all of his working time and efforts to the business and affairs of the Company. 

4.        Compensation and Benefits. 

(a)        Base Salary. During the Term, the Company shall pay the Executive a base salary
(“Base Salary”), payable in accordance with the Company’s normal practice for paying base salaries to its executive employees. The Base Salary shall be payable at the initial rate of $550,000 per annum, and shall be subject to annual
review by the Board for discretionary periodic adjustments in accordance with the Company’s compensation policies. For the purposes of this Agreement, the “Board” means the Board of Directors of the Company and/or one or more
committees of the Board of Directors of the Company created by the Board of Directors of the Company. 

(b)        Incentive Compensation. The Executive shall participate in the Company’s
Management Incentive Plan at the initial target rate of 65%, which shall be subject to annual review by the Compensation Committee of the Board, or the Board, for discretionary adjustments in accordance with the Company’s compensation policies.

 (c)        Employee Benefits. The Executive shall be entitled to participate in the
Company’s Supplemental Executive Retirement Program (the “SERP”), and all other employee benefit 

  
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plans made available by the Company (or any affiliate thereof) to all of its executives during the Term as may be in effect from time to time. 

(d)        Stock Plans. The Executive shall be entitled to participate in any stock option,
restricted stock, phantom stock or similar plan of the Company or any subsidiary as and to the extent provided by the Board from time to time. 

(e)        Expenses. During the Term, the Executive shall be entitled to receive prompt
reimbursement upon submission of expense claims to the Company for all reasonable and customary expenses incurred by the Executive in performing services hereunder, in accordance with the terms and conditions of the Company’s expense
reimbursement policy. The Executive shall be entitled to a monthly allowance of $1,000 for the leasing or financing of a vehicle in accordance with the Company’s automobile policies. The Executive shall be reimbursed for annual membership in a
local health club. 
 (f)        Vacations. The Executive shall be entitled to paid vacation
in accordance with the Company’s vacation policy, subject to a minimum of four (4) weeks of paid vacation per year. The Executive shall also be entitled to all paid holidays and sick days given by the Company to its executives. 

(g)        Taxes. The Company may withhold from any amounts payable under this Agreement such
federal, state, local and/or other taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

(h)        Board Fees. The Executive shall promptly remit to the Company any compensation
received by the Executive (including, without limitation, any fees, equity securities or retirement benefits) for service on the board of directors or similar governing body of any entity in which the Company owns at least five percent of the voting
equity securities, unless the Board authorizes the Executive to retain some or all of any such compensation. Notwithstanding the foregoing, the Executive shall be entitled to retain any reimbursements paid to him by any such entity of the actual out-of-pocket expenses incurred by the Executive in attending any meeting of any such board or other governing body. Nothing in this Section 4(h) shall be deemed to
authorize the Executive to serve on the board of directors or similar governing body of any other entity if doing so would cause the Executive to be in breach of his obligations under any other provision of this Agreement. 

(i)        Change in Control. The Company and the Executive have entered into a Severance
Agreement (“Severance Agreement”) providing for certain compensation and benefits during and after employment (including severance benefits) if a change in control of the Company occurs. This Agreement shall not affect the Executive’s
rights or obligation under the Severance Agreement and, as long as the Severance Agreement is not in effect, the Severance Agreement shall not affect this Agreement or the Executive’s rights or obligations under this Agreement. As provided in
the Severance Agreement, if the Severance Agreement becomes effective due to a change in control, the Severance Agreement shall supersede this Agreement. 

5.        Termination. The Company, by action of the Board, may terminate the Executive’s
employment hereunder for any reason. 
 (a)        If the Executive’s employment is terminated
by the Company during the Term for any reason other than for Cause (as defined below), death, or Disability (as defined below), or if the Executive terminates his employment hereunder for Good Reason (as defined below), except as otherwise provided
in Section 10 hereof, and provided the Executive executes a severance agreement and release in a form acceptable to the Company, the Company shall pay to the Executive, as soon as practicable (but in no

  
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event prior to the effective date of the severance agreement and release, as defined therein, which shall not exceed fifteen (15) days after execution of the severance agreement and release
without revocation on the part of the Executive (but in no event later than March 15th of the calendar year following the Executive’s termination)): 

(i) all accrued and unpaid salary, bonus and expense reimbursements; 

(ii) a lump sum cash payment equal to the present value of twenty-four (24) monthly salary payments, assuming for this purpose that
(A) each monthly salary payment would have been equal to 1/12th of the Executive’s Base Salary in effect at the time of his employment termination (disregarding any reductions in Base
Salary that were not approved by the Executive) and (B) such monthly salary payments would have been made on each of the 24 monthly anniversaries of the date the Executive’s employment terminated; 

(iii) a lump sum cash payment equal to the present value of two (2) annual bonus payments, assuming for this purpose that (A) each
such annual bonus payment would have been equal to the average of the annual bonus amounts received by the Executive in the two calendar years preceding the year in which the employment termination occurs and (B) the first annual bonus would
have been paid on the last business day of the first February following the date of employment termination and the second annual bonus would have been paid on the last business day of the second February following the date of employment termination;
and 
 (iv) a lump sum cash amount equal to the present value of the monthly cost that would have been incurred by the Company (exclusive
of the Executive’s portion thereof and determined in good faith by the Company) if it provided group medical, dental and life insurance coverage to the Executive and the Executive’s eligible dependents (at the same level and Executive cost
as in effect at the time of employment termination) for a period of two (2) consecutive years following employment termination, determined based on the cost of such coverage at the time of employment termination and assuming such cost remained
constant through the coverage period. Following employment termination, the Executive and the Executive’s eligible dependents shall have the option to continue his medical and dental insurance coverage at his own expense pursuant to the
Consolidated Omnibus Budget Reconciliation Act of 1985 and the Omnibus Budget Reconciliation Act of 1989 (“COBRA”) through the insurance plan(s) then offered by the Company, which plan(s) and premium rate(s) may be modified from time to
time. The Company will continue to provide basic life insurance for up to twelve months, after which time, the Executive will have the option to convert his basic life insurance with the Carrier to an individual policy without evidence of
insurability. 
 For purposes of calculating the lump sum cash payments provided by this Section 5, present value shall be determined by using a
discount factor equal to one percentage point below the Prime Rate, compounded annually. The “Prime Rate” shall be the base rate on corporate loans at large U.S. money center commercial banks as reported in The Wall Street Journal
(or, if such rate is no longer published, such other base rate on corporate loans by large money center commercial banks in the United States to their most creditworthy customers as published by any newspaper or periodical of general circulation) as
of the date on which termination shall have occurred. 
 (b)        If the Executive terminates his
employment hereunder for any reason other than for Good Reason, if the Executive’s employment hereunder is terminated due to the Executive’s death, or if the Company terminates the Executive’s employment as a result of Disability or
Cause, the Company shall have no further obligation hereunder and no further payments (except for accrued and unpaid salary, bonus and expense reimbursement) shall be made to the Executive. 

  
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 (c)        Disability. For purposes of this
Agreement, “Disability” shall mean the Executive’s incapacity due to physical or mental illness which, if he were to apply, would in the sole determination of the Board entitle him to the receipt of benefits under the Company’s
long-term disability plan and if the Executive shall not have returned to the performance of his duties hereunder on a full-time basis within thirty (30) days after a written Notice of Termination (as defined in Section 6(a)) is given to
the Executive by the Company. 
 (d)        Cause. For the purposes of this Agreement,
“Cause” shall mean: 
 (i)        the failure by the Executive to substantially perform
the Executive’s duties hereunder (other than any such failure resulting from the Executive’s incapacity due to physical or mental illness which shall be subject to the provisions of Section 5(c)); 

(ii)        the willful violation by the Executive of any of the Executive’s material
obligations hereunder; 
 (iii)      the willful engaging by the Executive in misconduct which is materially
injurious to the business or reputation of the Company or any of its affiliates; or 
 (iv)      the
Executive’s conviction of a felony. 
 Notwithstanding the foregoing, the Executive shall not be terminated for Cause without: 

(A)        reasonable notice to the Executive setting forth the reasons for the Company’s
intention to terminate the Executive’s employment hereunder for Cause; 
 (B)        the
failure of the Executive to cure the nonperformance, violation or misconduct described in the notice referred to in clause (A) of this paragraph, if the cure thereof is possible, to the reasonable satisfaction of the Board, within fifteen
(15) days of such notice; 
 (C)        an opportunity for the Executive, together with the
Executive’s counsel, to be heard before the Board; and 
 (D)        delivery to the Executive
of a written Notice of Termination (as defined in Section 6(a)) from the Company notifying him that in the good faith opinion of a majority of the Board the Company is entitled to terminate the Executive for Cause as set forth above, and
specifying the particulars thereof in detail. 
 (e)        Good Reason. For the purposes of
this Agreement, “Good Reason” shall mean the occurrence of any of the following events or conditions unless the Executive specifically agrees in writing that such event or condition shall not constitute Good Reason: 

(i)        a material diminution in the Executive’s authority, duties or responsibilities or the
Company requiring the Executive to report to a corporate officer or employee rather than reporting directly to the Board; 

(ii)        a material change in the geographic location at which the

  
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Executive must perform services, which includes a change in the Executive’s principal place of employment by the Company from the location of the Company’s principal place of business
on the date of this Agreement to a location more than fifty (50) miles from such principal place of business; 

(iii)        a material diminution in the Executive’s base compensation; or 

(iv)        any other action or inaction that constitutes a material breach by the Company of the
Agreement. 
 6.        Termination Procedure. 

(a)        Notice of Termination. Any termination of the Executive’s employment by the
Company or by the Executive shall be communicated by a written Notice of Termination to the other party hereto in accordance with Section 8. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall
indicate the specific termination provision in this Agreement relied upon and the Date of Termination, and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment
hereunder pursuant to the provision so indicated. 
 (b)        Date of Termination.
“Date of Termination” shall mean: 
 (i)        if the Executive’s employment is
terminated on account of the Executive’s Disability, thirty (30) days after a Notice of Termination has been provided pursuant thereto (provided that the Executive shall not have returned to the performance of the Executive’s duties
on a full-time basis during such thirty (30) day period); 
 (ii)        if the
Executive’s employment is terminated for Cause, the date specified in the Notice of Termination provided pursuant thereto; and 

(iii)      if the Executive’s employment is terminated for any other reason, the date on which a Notice of
Termination is provided or any later date (within thirty (30) days) set forth in such Notice of Termination. 

(c)        Termination for Good Reason. Notwithstanding anything herein to the contrary, no
event or condition described in Section 5(e) shall constitute “Good Reason” unless (i) the Executive gives the Company notice of the termination for Good Reason within ninety (90) days of the initial existence of the event
or condition constituting Good Reason and (ii) the Executive gives the Company thirty (30) days’ prior written notice of such termination due to Good Reason and the Company fails to cure such event or condition within the thirty
(30) day period. 
 7.        Restrictions. 

(a)        Reasonable Covenants. It is expressly understood by and between the Company and the
Executive that the covenants contained in this Section 7 are an essential element of this Agreement and that but for the agreement by the Executive to comply with these covenants and thereby not to diminish the value of the organization and
goodwill of the Company or any affiliate of the Company, if any, including, without limitation relations with their employees, suppliers, customers and accounts, the Company would not enter into this Agreement. The Executive acknowledges that he has
been given the opportunity to independently consult with his legal counsel and agrees that such covenants are reasonable and proper. 

  
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 (b)        Noncompetition; No Diversion of
Customers, Etc. During the Term and for twelve (12) months after the later of (i) the Executive’s Date of Termination, or (ii) the last day a payment is made to the Executive pursuant to Section 5, the Executive shall
not: 
 (i)        engage directly, alone or in association with or as a shareholder, principal,
agent, partner, officer, director, employee or consultant of any other organization or entity, in competition with the Company and/or any of its affiliates; 

(ii)      divert to any competitor of the Company or any of its affiliates, any customer of the Company or any
of its affiliates; or 
 (iii)      solicit or encourage any officer, employee or consultant of the Company
or any of its affiliates to leave the employ of the Company or any of its affiliates for employment by or with any competitor of the Company or any of its affiliates; 

provided, however, that the Executive may invest in stocks, bonds or other securities of any competitor of the Company or any of its affiliates
if: 
 (A)        such stocks, bonds or other securities are listed on any national or regional
securities exchange or have been registered under Section 11(g) of the Securities Exchange Act of 1934; 

(B)        the Executive’s investment does not exceed, in the case of any class of the capital
stock of any one issuer, one percent (1%) of the issued and outstanding shares, or, in the case of other securities, one percent (1%) of the aggregate principal amount thereof issued and outstanding; and 

(C)        such investment would not prevent, directly or indirectly, the transaction of business by
the Company and/or any of its affiliates with any state, district, territory or possession of the United States or any governmental subdivision, agency or instrumentality thereof by virtue of any statute, law, regulation or administrative practice.

 If, at any time, the provision of this Section 7(b) shall be determined to be invalid or unenforceable by reason of being vague or
unreasonable as to the area, duration or scope of activity, this Section 7(b) shall be considered severable and shall become and shall be immediately amended solely with respect to such area, duration and scope of activity as shall be
determined to be reasonable and enforceable by the court or other body having jurisdiction over the matter and the Executive agrees that this Section 7(b) as so amended shall be valid and binding as though any invalid or unenforceable provision
had not been included herein. Except as provided in this Section 7 and in Section 3, nothing in this Agreement shall prevent or restrict the Executive from engaging in any business or industry in any capacity. 

(c)        Public Support and Assistance. The Executive agrees that following any termination
of his employment hereunder by the Company, the Executive shall not disclose or cause to be disclosed any negative, adverse or derogatory comments or information of a substantial nature about the Company or its management, or about any product or
service provided by the Company, or about the Company’s prospects for the future (including any such comments or information with respect to affiliates of the Company). The Company and/or any of its affiliates may seek the assistance,
cooperation or testimony of the Executive following any such termination in connection with any investigation, litigation or proceeding arising out of matters within the knowledge of the Executive and related to the Executive’s position as an
officer or employee of the Company, and in any such instance, the Executive shall provide 

  
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such assistance, cooperation or testimony and the Company shall pay the Executive’s reasonable costs and expenses in connection therewith; in addition, if such assistance, cooperation or
testimony requires more than a nominal commitment of the Executive’s time, the Company shall compensate the Executive for such time at a per diem rate derived from the Executive’s Base Salary at the time of the Executive’s Date of
Termination. 
 (d)        Nondisclosure of Confidential Information. During the Term, the
Executive shall hold in a fiduciary capacity for the benefit of the Company and its affiliates all Confidential Information (as defined below). After termination of the Executive’s employment with the Company, the Executive shall keep secret
and confidential all Confidential Information and shall not use or disclose to any third party in any fashion or for any purpose whatsoever, any Confidential Information. As used herein, “Confidential Information” shall mean any
information regarding this Agreement, or any other information regarding the Company or its affiliates which is not available to the general public, and/or not generally known outside the Company or any such affiliate, to which the Executive has or
shall have had access at any time during the course of the Executive’s employment with the Company, including, without limitation, any information relating to the Company’s (and its affiliates’): 

(i)        business, operations, plans, strategies, prospects or objectives; 

(ii)       products, technologies, processes, specifications, research and development operations or plans;

 (iii)      customers and customer lists; 

(iv)      sales, service, support and marketing practices and operations; 

(v)       financial condition and results of operations; 

(vi)      operational strengths and weaknesses; and 

(vii)      personnel and compensation policies and procedures. 

Notwithstanding the foregoing provisions of this Section 7, the Executive may discuss this Agreement with the members of the Executive’s immediate
family and with the Executive’s personal legal advisors. 
 Notice Concerning Immunity from Liability for Confidential Disclosure of
a Trade Secret to the Government or in a Court Filing. The Defend Trade Secrets Act of 2016 provides that: 
 (1) An individual shall
not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret under the Act that: (A) is made – (i) in confidence to a Federal, State, or local government official, either
directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing
is made under seal. 
 (2) An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may
disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual: (A) files any document containing the trade secret under seal; and (B) does not disclose the trade
secret, except pursuant to court order. 

  
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 (e)        Specific Performance. Without
intending to limit the remedies available to the Company, the Executive agrees that damages at law would be an insufficient remedy to the Company in the event that the Executive violates any of the provisions of this Section 7, and that the
Company may apply for and, upon the requisite showing, have injunctive relief in any court of competent jurisdiction to restrain the breach or threatened breach of or otherwise to specifically enforce any of the covenants contained in this
Section 7 without the necessity of a bond. 
 (f)        Reporting Possible Violations of
Federal Law or Regulation; Disclosures Protected Under Whistleblower Provisions. Notwithstanding anything to the contrary contained in this Agreement, (i) nothing in this Agreement shall prohibit the Executive from reporting possible
violations of federal law or regulation to any governmental agency or entity, including but not limited to the Department of Justice, the Securities and Exchange Commission, the Congress, and any agency Inspector General, or making other disclosures
that are protected under the whistleblower provisions of federal law or regulation, (ii) the Executive does not need the prior authorization of the Company to make any such reports or disclosures and (iii) the Executive is not required to
notify the Company that the Executive has made any such reports or disclosures. 

(g)        Survival of Provisions. This Section 7 shall survive after the termination of
this Agreement. 
 8.        Notice. For the purpose of this Agreement, notices, demands and
all other communications provided for herein shall be in writing and shall be deemed to have been duly given when delivered or (unless otherwise specified) mailed by United States certified or registered mail, return receipt requested, postage
prepaid, addressed as follows: 
 If to the Executive: 

Thomas P. Meissner, Jr. 
 77
State Street, Unit 201 
 Portsmouth, NH 03801 

If to the Company: 
 Unitil
Corporation 
 Attn: Corporate Secretary 

6 Liberty Lane West 
 Hampton, NH
03842 
 or to such other address as any party may have furnished to the other in writing in accordance herewith, except that notices of change of address
shall be effective only upon receipt. 
 9.        Successors. Without the prior written
consent of the Executive, this Agreement cannot be assigned by the Company except that it shall be binding automatically on any successors and assigns of all or substantially all of the business and/or assets of the Company (whether direct or
indirect, by purchase, merger, consolidation or otherwise). In addition, without the prior written consent of the Company, this Agreement cannot be assigned by the Executive, except that the right to receive payments or benefits hereunder may be
transferred by will or the laws of descent and distribution. This Agreement and all rights of the Executive hereunder shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives. 

  
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 10.        Code
Section 409A. The provisions of this Agreement and all payments made pursuant to this Agreement are intended to comply with, and should be interpreted so that they are consistent with, the requirements of Section 409A of
the Internal Revenue Code of 1986, as amended (the “Code”), and any related regulations or other applicable guidance promulgated thereunder (collectively, “Section 409A”). It is the intent of the parties hereto that all
severance payments and benefits provided pursuant to this Agreement qualify as short-term deferrals, as defined in Treasury Regulation §1.409A-1(b)(4), separation pay due to an involuntary separation from
service under Treasury Regulation §1.409A-1(b)(9)(iii), and/or limited payments, as defined in Treasury Regulation §1.409A-1(b)(9)(v)(D)). Notwithstanding the
foregoing, if (i) it is determined that any payments or benefits provided pursuant to this Agreement upon a separation from service (as that term is used in Section 409A) constitute deferred compensation for purposes of Section 409A
(after taking into account the exception for short-term deferrals set forth in Treasury Regulation §1.409A-1(b)(4), the exception for separation pay due to an involuntary separation set forth in Treasury
Regulation §1.409A-1(b)(9)(iii), the exception for limited payments as set forth in Treasury Regulation §1.409A-1(b)(9)(v)(D) and/or any other applicable
exception from Section 409A) and (ii) the Executive is a “specified employee,” as determined under the Company’s policy for determining specified employees, on the date on which the termination of employment occurs, no such
payments or benefits shall be provided prior to the first business day after the date that is six months following the Executive’s termination of employment or, if the Executive dies during such six month period, on the first business day after
the date of the Executive’s death. The first payment that can be made shall include the cumulative amount of any amounts that could not be paid during such six-month period. In addition, interest will
accrue at the Federal short-term rate determined under Section 1274(d) of the Code (as in effect on the date of the separation from service or, if such date is not a business day, the first business day prior to such date) on all payments not
paid to the Executive prior to the first business day after the sixth month anniversary of termination of employment that otherwise would have been paid during such six-month period had this delay provision
not applied to the Executive and shall be paid with the first payment after such six-month period. For all purposes under this Agreement, references to termination of employment, employment termination or
words of similar import shall be interpreted to mean “separation from service,” as that term is used in Section 409A, and the Executive’s employment shall in no event be deemed to have terminated unless and until a separation
from service shall have occurred for purposes of Section 409A. 

11.        Arbitration. Except as provided in Section 7(e), all controversies, claims or
disputes arising out of or relating to this Agreement shall be settled by binding arbitration to be conducted in Hampton, New Hampshire under the rules of the American Arbitration Association, as the sole and exclusive remedy of either party, and
judgment upon any such award rendered by the arbitrator(s) may be entered in any court of competent jurisdiction. The costs of arbitration shall be borne by the unsuccessful party or otherwise as determined by the arbitrators in their discretion.

 12.        Governing Law: The validity, interpretation, construction and performance of
this Agreement shall be governed by the laws of the State of New Hampshire without regard to conflicts of law principles. 

13.        Amendments. No provision of this Agreement may be modified, waived or discharged
unless such waiver, modification or discharge is agreed to in writing signed by the Executive and such officer of the Company as may be specifically designated for such purpose by the Board. No waiver by either party hereto at any time of any breach
by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent
time. 

  
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 14.        Counterparts. This Agreement may
be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. 

15.        Entire Agreement. Except as otherwise provided in Section 4(i) hereof, this
Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or
written, by any officer, employee or representative of any party hereto. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not set forth
expressly in this Agreement. For avoidance of doubt, while this Agreement is in effect, the Executive shall not be eligible to receive severance payments under the Unitil Corporation Severance Pay Plan, as may be amended from time to time, or any
successor or similar plan maintained by the Company or an affiliate. 

16.        Severability. The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision hereof. 
 IN WITNESS WHEREOF, the parties have executed this
Agreement as of the date and year first above written. 
  

					
	UNITIL CORPORATION
		
	By:	 	 /s/ Lisa Crutchfield
  

		 	Name:	 	Lisa Crutchfield
		 	Title:	 	Chair, Compensation Committee of the Board of Directors
		
		 	 THOMAS P. MEISSNER, JR.
  

		 	/s/ Thomas P. Meissner, Jr.

  
 10EX-10.5

 Exhibit 10.5 

UNITIL CORPORATION 

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 

AS ADOPTED BY UNITIL SERVICE CORP. 
  

(as amended and restated effective May 1, 2018) 

 Table of Contents 

 

							
	 Article
	  	 	Page	 
			
	1	  	Purpose and Intent	  	 	1  	 
			
	2	  	Definitions	  	 	2  	 
			
	3	  	Administration	  	 	6  	 
			
	4	  	Participation	  	 	7  	 
			
	5	  	Eligibility for Benefits Amount	  	 	8  	 
			
	6	  	Amount and Form of Retirement Benefits	  	 	9  	 
			
	7	  	Payment of Retirement Benefits	  	 	10	 
			
	8	  	Death Benefit	  	 	11	 
			
	9	  	Change in Control	  	 	12	 
			
	10	  	Forfeiture of Benefits	  	 	13	 
			
	11	  	Nature of Claim for Payments	  	 	14	 
			
	12	  	Code Section 409A	  	 	15	 
			
	13	  	No Assignment or Alienation	  	 	16	 
			
	14	  	No Contract of Employment	  	 	17	 
			
	15	  	Claims and Appeal Procedure	  	 	18	 
			
	16	  	Amendment	  	 	20	 
			
	17	  	Governing Law	  	 	21	 
			
	18	  	Successors	  	 	22	 

  
 (i) 

 Article 1 

PURPOSE AND INTENT 

The principal objective of the Unitil Corporation Supplemental Executive Retirement Plan As Adopted By
Unitil Service Corp. (the “Plan”) is to ensure the payment of a competitive level of retirement income in order to attract, retain and motivate selected executives. The Plan was designed to provide supplements to designated employees
which, when combined with other employment related and government sponsored retirement benefits, will provide for the aggregate level of retirement benefits specified herein. The Plan is intended to be “a plan which is unfunded and is
maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, and shall be
interpreted and administered in a manner consistent therewith. 
 The Plan was originally established
and adopted effective January 1, 1987, and was amended and restated in its entirety effective on each of January 1, 1998, December 31, 2007 and December 31, 2016. The Plan is hereby further amended and restated in its entirety,
effective May 1, 2018. 

  
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 Article 2 

DEFINITIONS 

Whenever used herein, unless the context clearly indicates otherwise, the following words and phrases
shall have the meanings herein specified, and the following definitions shall be equally applicable to both the singular and plural forms of any of the terms herein defined. The masculine pronoun whenever used herein shall include the feminine and
neuter genders and the singular number as used herein shall include the plural, and the plural the singular, unless the context clearly indicates a different meaning. 

2.1     “Basic Plan” shall mean the Unitil Corporation Retirement Plan as adopted, and from
time to time amended, by the Employer. 
 2.2     “Basic Plan Benefit” shall mean the
annual amount of benefit payable from the Basic Plan to a Participant in the form of a straight life annuity. 
 2.3
    “Beneficiary” shall mean the individual designated by the Participant to receive payments upon the death of a Participant in accordance with Article 8. 

2.4     “Board of Directors” shall mean the Board of Directors of Unitil Corporation or any
successor thereof. 
 2.5     “Change in Control” shall mean the occurrence of any of the
following: 
  

	 	 (a)
	 Unitil Corporation receives a report on Schedule 13D filed with the Securities and
Exchange Commission pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (hereinafter referred to as the “Exchange Act”), disclosing that any person, group, corporation or other entity is the beneficial owner,
directly or indirectly, of twenty-five (25%) percent or more of the outstanding common stock of Unitil Corporation; 

  

	 	 (b)
	 any person (as such term is defined in Section 13(d) of the Exchange Act), group,
corporation or other entity other than Unitil Corporation or a wholly-owned subsidiary of Unitil Corporation, purchases shares pursuant to a tender offer or exchange offer to acquire any common stock of Unitil Corporation (or securities convertible
into common stock) for cash, securities or any other consideration, 

  
 2 

	 	 
provided that after consummation of the offer, the person, group, corporation or other entity in question is the beneficial owner (as such term is defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of twenty-five (25%) percent or more of the outstanding common stock of Unitil Corporation (calculated as provided in paragraph (d) of Rule 13d-3 under the Exchange Act in the case of rights to acquire common stock); 

  

	 	 (c)
	 the stockholders of Unitil Corporation approve (i) any consolidation or merger of
Unitil Corporation in which Unitil Corporation is not the continuing or surviving corporation or pursuant to which shares of common stock of Unitil Corporation would be converted into cash, securities or other property (except where Unitil
Corporation shareholders before such transaction will be the owners of more than seventy-five (75%) percent of all classes of voting stock of the surviving entity), or (ii) any sale, lease, exchange or other transfer (in one transaction or a
series of related transactions) of all or substantially all the assets of Unitil Corporation; or 

  

	 	 (d)
	 there shall have been a change in a majority of the members of the Board of Directors
within a twenty-five (25) month period unless the election or nomination for election by the Unitil Corporation stockholders of each new director was approved by the vote of two-thirds of the directors
then still in office who were in office at the beginning of the twenty-five (25) month period. 

Should the Change in Control be stockholder approval under paragraph 2.5(c) and if the Board of Directors determines the
approved transaction will not be completed and is abandoned prior to any termination of the Participant’s employment, a Change in Control shall no longer be in effect and the provisions of the Plan shall continue in effect as if a Change in
Control had not occurred. 
 2.6     “Change in Control Participant” shall have the
meaning given to that term in Section 9.1. 
 2.7     “Early Retirement Date” shall
mean the first day of the month in which the Participant has both attained age fifty-five (55) and completed fifteen (15) years of Service (excluding Service completed prior to age eighteen (18)). 

2.8     “Employer” shall mean Unitil Service Corp. and any affiliated employer and any
successor company which may continue the Plan. 

  
 3 

 2.9     “Final Average Earnings” shall
mean the highest twelve (12) month average of the sum of base salary plus cash incentive payments received by a Participant, calculated by determining the thirty-six (36) consecutive month period of
the last one hundred twenty (120) months of his tenure as an employee with the Employer during which he received the highest sum of base salary plus cash incentive payments, and then dividing that sum by three (3). 

2.10     “Normal Retirement Date” shall mean the first day of the month in which occurs the
Participant’s 65th birthday. 
 2.11
    “Other Retirement Income” shall mean the retirement income payable to a Participant from the following sources as of the date the Participant’s benefits commence under the Plan: 

 

	 	 (a)
	 the straight life annuity equivalent of the value of the total contributions, but not
including a Participant’s salary deferral contributions, made by the Employer under the Unitil Corporation Tax Deferred Savings and Investment Plan on behalf of the Participant during such Participant’s employment at the Employer; and

  

	 	 (b)
	 retirement income in the form of a straight life annuity payable to a Participant from any
previous employers. 

 In determining the straight life annuity equivalent under this
Section 2.11, the following actuarial assumptions shall be used: the interest rate or rates and table used by the Pension Benefit Guaranty Corporation to value immediate annuities (as of the beginning of the calendar year in which the
determination is being made) under Section 4062 of the Employee Retirement Income Security Act of 1974. 
 2.12
    “Participant” shall mean an employee of the Employer who is designated by the Board of Directors to participate in the Plan. 

2.13     “Plan” shall mean the Unitil Corporation Supplemental Executive Retirement Plan As
Adopted By Unitil Service Corp. and as set forth in this document and as may be amended from time to time. 
 2.14
    “Primary Social Security Benefit” shall mean the annual primary insurance amount to which the Participant is entitled or would, upon application therefore, be entitled at the later of age 65 or

  
 4 

 
actual retirement under the provisions of the Federal Social Security Act as in effect on the Participant’s termination date assuming that the Participant will have no income after
termination which would be treated as wages for purposes of the Social Security Act. 
 2.15
    “Retirement Date” shall mean the first to occur of the Participant’s Normal Retirement Date or Early Retirement Date. 

2.16     “Service” shall mean a Participant’s years of Credited Service as defined in
the Basic Plan for benefit calculation purposes, provided that, except as provided in Section 7.2, no Service shall be credited to a Participant subsequent to his termination of Participation pursuant to Section 4.2. 

  
 5 

 Article 3 

ADMINISTRATION 

The Plan shall be administered by the Board of Directors. The Board of Directors shall have the authority
to interpret the provisions of the Plan and decide all questions and settle all disputes which may arise in connection with the Plan, all in the sole exercise of its discretion. The Board of Directors may establish operative and administrative rules
and procedures in connection therewith, provided that such procedures are consistent with the requirements of section 503 of ERISA. All interpretations, decisions and determinations made by the Board of Directors shall be final, conclusive and
binding on all persons concerned. No member of the Board of Directors who is a Participant may vote or otherwise participate in any decision or act with respect to a matter relating to himself or his beneficiaries. 

  
 6 

 Article 4 

PARTICIPATION 

4.1     Participation. The Participants in the Plan shall be those “management” or
“highly compensated” employees within the meaning of sections 201(2), 301(a)(3) and 401(a)(1) of ERISA who shall be employees of the Employer and who shall be selected from time to time by the Board of Directors. Unless selected by the
Board of Directors in the sole exercise of its discretion, no employee of the Employer shall have a right to become a Participant in the Plan. Notwithstanding anything herein to the contrary, upon a Change in Control, no new Participants may be
added to the Plan. 
 4.2     Termination of Participation. A Participant’s
participation in the Plan shall end upon his termination of service with the Employer for any reason or his ceasing to be a management or highly compensated employee within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. In
addition, subject to Section 7.2, the Board of Directors may terminate an employee’s participation in the Plan. 

  
 7 

 Article 5 

ELIGIBILITY FOR BENEFITS 

5.1     Eligibility for Retirement Benefits. A Participant shall be eligible to receive a
benefit under the Plan if (a) the Participant’s employment terminates on or after his Retirement Date or (b) a Change in Control has occurred. Benefits shall be determined in accordance with Article 6 or Article 9, as the case may be,
and shall commence in accordance with Article 7. 
 5.2     Eligibility for Pre-Retirement Death Benefits. The Beneficiary of each Participant who dies before commencement of benefits pursuant to Section 7.1 or Section 7.2, as the case may be, but after either (a) a
Change in Control or (b) completing at least five years of Service shall be eligible to receive the benefit described in Article 8. 

5.3     Termination Prior to Retirement. Except as otherwise provided in Section 5.2 and
Article 9, no benefits are payable under the Plan if a Participant’s employment terminates for any reason, including death, prior to the Participant’s Retirement Date. 

  
 8 

 Article 6 

AMOUNT AND FORM OF RETIREMENT BENEFITS 

6.1     Amount of Benefit. The annual retirement benefit payable to a Participant under the
Plan whose termination of employment occurs on or after his Normal Retirement Date shall equal sixty percent (60%) of such Participant’s Final Average Earnings reduced, but not below zero, by the sum of (a), (b) and (c) where 

 

	 	(a)    	 equals the Basic Plan Benefit; 

 

	 	(b)    	 equals the Other Retirement Income; and 

 

	 	(c)    	 equals the Primary Social Security Benefit. 

6.2     Early Retirement Benefit. The annual retirement benefit payable to a Participant under
the Plan whose termination of employment occurs on or after his Early Retirement Date shall be determined in accordance with the provisions of Section 6.1 but shall be reduced by 5/12 of one percent (1%) for each full calendar month that the
Participant’s termination of employment precedes the month in which occurs the Participant’s 60th birthday. 

6.3     Form of Benefit. The retirement benefits determined under this Article 6 shall be
payable as a monthly annuity for the life of a Participant unless the Participant has elected to receive reduced benefits in an optional form of payment. 

The optional forms of payment available for election by a Participant under the Plan shall be the same as those provided
under the Basic Plan, provided that any such election shall be made prior to the Participant’s termination of employment. If an optional form of payment is elected, the benefits payable shall be the actuarial equivalent of the
Participant’s retirement benefits under the Plan. In determining actuarial equivalence, the actuarial reduction factors set forth in the Basic Plan used to convert a straight life annuity to an optional form of payment shall be used under the
Plan. 

  
 9 

 Article 7 

PAYMENT OF RETIREMENT BENEFITS 

7.1     Termination on or after Retirement Date. Except as otherwise provided in
Section 7.2 and Articles 8 and 12, all benefits payable under the Plan shall commence on the date of the Participant’s termination of employment. Benefits will continue to be paid on the first day of each succeeding month. The last payment
will be on the first day of the month in which the retired Participant dies unless the Participant has elected an optional form of payment in accordance with Section 6.3. 

7.2     Termination before Retirement Date after a Change in Control. Except as otherwise
provided in Articles 8 and 12, benefits payable to a Change in Control Participant pursuant to Article 9 shall commence on the earlier to occur of the following: (a) the date the Change in Control Participant could have received benefits under
Section 6.1 or (b) the date the Change in Control Participant could have received benefits under Section 6.2, as the case may be, determined by assuming the Change in Control Participant had remained employed and continued to accrue
additional years of Service after the date of employment termination. Benefits will continue to be paid on the first day of each succeeding month. The last payment will be on the first day of the month in which the retired Change in Control
Participant dies unless the Change in Control Participant has elected an optional form of payment in accordance with Section 6.3. For avoidance of doubt, if a Participant’s employment terminates on or after the Participant’s
Retirement Date, the Participant’s benefits shall be determined pursuant to Article 6 and shall be paid pursuant to Section 7.1, whether or not a Change in Control has occurred. 

7.3     FICA Taxes. Upon the Participant’s termination of employment and the commencement of the
payment of benefits in accordance with the provisions hereof, the Employer will (A) remit on the Participant’s behalf all applicable FICA taxes due and payable on the then present value of the Plan benefits (such present value shall be
determined by the Employer’s actuary) and (B) remit on the Participant’s behalf any federal, state, city, local or payroll taxes payable upon the payment of applicable FICA taxes provided pursuant to this Section 7.3. 

  
 10 

 Article 8 

DEATH BENEFIT 

8.1     Amount. A Beneficiary described in Section 5.2 shall receive an annuity for life
determined in accordance with the surviving spouse benefit provision of the Basic Plan (other than the requirement that such benefit may only be paid to the surviving spouse) and the relevant provisions of Article 6 or, after a Change in Control,
Article 9. 
 8.2     Commencement. The benefit described in Section 8.1 shall commence
as of the first day of the month following the later of (a) the date the Participant dies or (b) the Participant’s Retirement Date. 

  
 11 

 Article 9 

CHANGE IN CONTROL 

9.1     Eligibility for Change in Control Benefits. Notwithstanding anything contained herein
to the contrary, if a Change in Control occurs, Participants in the Plan as of the date of the Change in Control shall be entitled to receive benefits determined in accordance with this Article 9 if the Participant’s employment terminates prior
to the Participant’s Retirement Date (a “Change in Control Participant”). 
 9.2
    Amount of Change in Control Benefit. A Change in Control Participant’s benefit payable pursuant to this Article 9 shall be determined in accordance with the provisions of (a) Section 6.1, if, pursuant to
Section 7.2, the Change in Control Participant’s benefits commence on the first date the Participant could have received benefits under Section 6.1 or (b) Section 6.2, if, pursuant to Section 7.2, the Change in Control
Participant’s benefits commence on the first date the Participant could have received benefits under Section 6.2. 

9.3     Payment of Change in Control Benefit. A Change in Control Participant’s benefits
shall be paid in accordance with Section 7.2. 

  
 12 

 Article 10 

FORFEITURE OF BENEFITS 

Notwithstanding anything herein to the contrary, if a Participant or Beneficiary who is receiving, or may
be entitled to receive, a benefit hereunder engages in competition with the Employer or any affiliated employer (without prior authorization of the Board of Directors) or is discharged for cause, or performs acts of willful malevolence or gross
negligence in a matter of material importance to the Employer or any affiliated employer, payments thereafter payable hereunder to such Participant or Beneficiary shall, at the discretion of the Board of Directors, be forfeited and the Employer
shall have no further obligation hereunder to such Participant or Beneficiary, provided, however, that no action by the Board of Directors pursuant to this Article 10 shall have any effect on the benefits that a Change in Control Participant is
otherwise entitled to receive hereunder. 

  
 13 

 Article 11 

NATURE OF CLAIM FOR PAYMENTS 

Benefits under the Plan shall be paid from the general assets of the Employer (which term, solely for the
purposes of this Article 11, shall mean the Employer or any affiliated employer). The Plan shall be administered as an unfunded plan which is not intended to meet the qualification requirements of section 401 of the Internal Revenue Code of 1986, as
amended (the “Code”). Neither a Participant nor his Beneficiary shall be entitled to receive any payment for benefits under the Plan from the qualified trust maintained for the Basic Plan. Should the Board of Directors elect to insure the
Plan, in whole or in part, through the medium of life insurance or annuities, or both, the Employer shall be the owner and beneficiary of any insurance or annuity contracts. The Employer reserves the absolute right, in its sole discretion, to
terminate such life insurance or annuities, as well as any other program, at any time, either in whole or in part. At no time shall the Participant be deemed to have any right, title, or interest in or in any specified asset or assets of the
Employer, including, but not by way of restriction, any insurance or contract or contracts or the proceeds therefrom. Any such policy shall not in any way be considered to be security for the performance of the obligations of the Employer under the
Plan. If the Employer decides to purchase a life insurance or annuity policy on the life of the Participant, he shall sign any papers that may be required for that purpose and undergo any medical examination or tests which may be necessary. 

  
 14 

 Article 12 

CODE SECTION 409A 

The provisions of the Plan and all payments made pursuant to the Plan are intended to comply with, and
should be interpreted so that they are consistent with, the requirements of Section 409A of the Code, and any related regulations or other applicable guidance promulgated thereunder (collectively, “Section 409A”). If the Participant
is a “specified employee,” as determined under the Employer’s policy for determining specified employees, on the date on which the Participant’s termination of employment occurs, the Participant’s benefits shall not be paid
or commence until the first business day after the date that is six months following the Participant’s termination of employment or, if the Participant dies during such six month period, on the first business day after the date of the
Participant’s death. The first payment that can be made shall include the cumulative amount of any amounts that could not be paid during such six-month period. In addition, interest will accrue at the
Federal short-term rate determined under Section 1274(d) of the Code (as in effect on the date of the separation from service or, if such date is not a business day, the first business day prior to such date) on all payments not paid to the
Participant prior to the first business day after the sixth month anniversary of termination of employment that otherwise would have been paid during such six-month period had this delay provision not applied
to the Participant and shall be paid with the first payment after such six-month period. For all purposes under the Plan, references to termination of employment or words of similar import shall be interpreted
to mean “separation from service,” as that term is used in Section 409A, and the Participant’s employment shall in no event be deemed to have terminated unless and until a separation from service shall have occurred for purposes
of Section 409A. 

  
 15 

 Article 13 

NO ASSIGNMENT OR ALIENATION 

The interest hereunder of any Participant or Beneficiary shall not be alienable by the Participant or
Beneficiary by assignment or any other method and shall not be subject to be taken by his creditors by any process whatsoever, and any attempt to cause such interest to be so subjected shall not be recognized, except to such extent required by law.

  
 16 

 Article 14 

NO CONTRACT OF EMPLOYMENT 

The Plan shall not be deemed to constitute a contract of employment between the Employer and any
Participant, or to be consideration for the employment of any Participant. Neither the action of establishing the Plan for the Employer nor any action taken by or on behalf of the Employer or by the Board of Directors under the provisions hereof,
nor any provision of the Plan, shall be construed as giving to any Participant the right to be retained in its employ or any right to any payment whatsoever except to the extent of the benefits provided for by the Plan. The Employer expressly
reserves its right at any time to dismiss any Participant without liability for any claim against the Employer or for any claim for any payment whatsoever, except to the extent provided for in the Plan. 

  
 17 

 Article 15 

CLAIMS AND APPEAL PROCEDURES 

In the event that benefits under the Plan are not paid to a Participant or his Beneficiary or contingent
annuitant (each a “Claimant”) and the Claimant believes he is entitled to receive them, the Claimant (this will also include, for the purposes of these procedures, any representative authorized by the Claimant) may file a claim in writing
with the Employer. If such claim is denied in whole or in part, the Claimant will be provided with written notification within ninety (90) days after such claim is received by the Employer. The written notice will (a) set forth the
specific reasons for denying the claim; (b) make reference to the specific portions of the Plan that resulted in the denial of the claim; (c) describe any additional material or information still required from the Claimant to complete the
claim; and (d) explain the claims review procedures and applicable time limits. 
 If special
circumstances require more time for the Employer to process such claim, the Employer will provide the Claimant a notice before the end of the first ninety (90) days after the claim is received. This notice will explain the reasons for the
extension and the date a decision is expected. The extension will not be for more than ninety (90) days. 

If such claim is denied by the Employer, the Claimant will have sixty (60) days to request a review.
The Claimant will have a right to a reasonable opportunity for full and fair review of the adverse determination. The Claimant may submit any and all written comments, documents, records and other information relating to the claim. The Employer will
take into account all comments, documents, records and information the Claimant has submitted, regardless of whether or not they were submitted or considered in the original determination. The Claimant will be provided, upon request and free of
charge, access to and copies of documents, records and other information relevant to the claim. 
 The
Employer will notify the Claimant of the decision on review within sixty (60) days after the Employer received the request for review, unless special circumstances make an extension of time necessary for the Employer to process the review (for
example, if a hearing is deemed necessary). In that case, the Employer will notify the Claimant of the decision on review not later than one hundred twenty (120) days after the Employer first received the request for review. If

  
 18 

 
such an extension of time for review is required, written notice of the extension will be furnished to the Claimant before the end of the first sixty (60) days, and will include the reasons
for the extension and the date the decision is expected. If the extension is due to the Claimant’s failure to submit information necessary to decide the claim, the period for making the benefit determination will be tolled from the date on
which the notification of the extension is sent to the Claimant until the date the Claimant responds to the request for information. 

Any notice of the Employer’s adverse determination of such claim on appeal will set forth the
specific reasons for the adverse decision on such appeal and will reference the specific portions of the Plan on which the adverse decision is based. The Claimant will be notified of his rights to access relevant documents, as well as information on
further steps that the Claimant is entitled to take. 
 An adverse decision of the Employer on a claim
may be appealed by the Claimant to a court of competent jurisdiction. 

  
 19 

 Article 16 

AMENDMENT 

The Plan may be altered, amended or revoked in writing by the Board of Directors at any time; provided,
however, that no such alteration, amendment or revocation (a) that adversely affects a Participant’s or Beneficiary’s vested benefits under the Plan shall be made without the prior written consent of the Participant or Beneficiary so
affected, or (b) that is made after a Change in Control shall be made without the prior written consent of all Participants or Beneficiaries then entitled to benefits hereunder. 

  
 20 

 Article 17 

GOVERNING LAW 

The Plan shall be governed and construed in accordance with the laws of the State of New Hampshire except
to the extent preempted by federal law. 

  
 21 

 Article 18 

SUCCESSORS 

The provisions of the Plan shall bind and inure to the benefit of the Employer and its successors and
assigns. The term successors as used herein shall include any corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise acquire all or substantially all of the business and assets of the Employer, and
successors of any such corporation or other business entity. 

  
 22

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