Mitigation and Set-Off Clause Samples
The Mitigation and Set-Off clause requires parties to minimize any losses or damages they may incur and allows them to offset amounts owed to each other under the contract. In practice, if one party suffers a loss due to the other's breach, they must take reasonable steps to reduce the impact of that loss, and any recoverable damages may be reduced by amounts the injured party could have avoided. Additionally, if both parties owe each other money, the clause permits them to deduct what is owed from what is due, rather than making separate payments. This clause ensures fairness by preventing parties from recovering avoidable losses and streamlines financial settlements between them.
Mitigation and Set-Off. The Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise. The Company shall not be entitled to set off against the amounts payable to the Executive under this Agreement any amounts owed to the Company by the Executive, any amounts earned by the Executive in other employment after termination of his employment with the Company, or any amounts which might have been earned by the Executive in other employment had he sought such other employment.
Mitigation and Set-Off. Executive shall not be required to mitigate Executive’s damages by seeking other employment or otherwise. The Company’s obligations under this Agreement shall not be reduced in any way by reason of any compensation or benefits received (or foregone) by Executive from sources other than the Company after Executive’s Employment Termination, or any amounts that might have been received by Executive in other employment had Executive sought such other employment. Executive’s entitlement to benefits and coverage under this Agreement shall continue after, and shall not be affected by, Executive’s obtaining other employment after his Employment Termination, provided that any such benefit or coverage shall not be furnished if Executive expressly waives the specific benefit or coverage by giving written notice of waiver to the Company.
Mitigation and Set-Off. The Employee shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise. The Employer shall not be entitled to set off against the amounts payable to the Employee under this Agreement any amounts earned by the Employee in other employment after termination of employment with the Employer, or any amounts which might have been earned by the Employee in other employment had he sought such other employment.
Mitigation and Set-Off. Executive shall not be required to mitigate Executive’s damages by seeking other employment or otherwise. The Company’s obligations under this Agreement shall not be reduced in any way by reason of any compensation or benefits received (or foregone) by Executive from sources other than the Company after Executive’s Employment Termination, or any amounts that might have been received by Executive in other employment had Executive sought other employment, except for the termination of benefits under a Welfare Benefit Plan pursuant to Section 1(c)(ii) hereof. Except as expressly provided in section 1(c) of this Agreement, Executive’s entitlement to benefits and coverage under this Agreement shall continue after, and shall not be affected by, Executive’s obtaining other employment after his Employment Termination, provided that any such benefit or coverage shall not be furnished if Executive expressly waives the specific benefit or coverage by giving written notice of waiver to the Company.
Mitigation and Set-Off. The Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise. The Trust shall not be entitled to set off against the amounts payable to the Executive under this Agreement any amounts owed to the Trust by the Executive, any amounts earned by the Executive in other employment after termination of his employment with the Trust, or any amounts which might have been earned by the Executive in other employment had he sought such other employment.
Mitigation and Set-Off. Employee shall not be required to mitigate Employee’s damages by seeking other employment or otherwise. The Company’s obligations under this Agreement shall not be reduced in any way by reason of any compensation or benefits received (or foregone) by Employee from sources other than the Company after Employee’s Employment Termination, or any amounts that might have been received by Employee in other employment had Employee sought other employment, except for the termination of benefits under a Welfare Benefit Plan pursuant to Section 1.3(ii) hereof. Except as expressly provided in Section 1.3 of this Agreement, Employee’s entitlement to benefits and coverage under this Agreement shall continue after, and shall not be affected by, Employee’s obtaining other employment after his Employment Termination, provided that any such benefit or coverage shall not be furnished if Employee expressly waives the specific benefit or coverage by giving written notice of waiver to the Company.
Mitigation and Set-Off. Executive shall not be required to mitigate Executive's damages by seeking other employment or otherwise. Except as provided in Section 1(c) of this Agreement, the Company's obligations under this Agreement shall not be reduced in any way by reason of any compensation or benefits received (or foregone) by Executive from sources other than the Company after Executive's Employment Termination, or any amounts that might have been received by Executive in other employment had Executive sought such other employment. Executive's entitlement to benefits and coverage under this Agreement shall continue after, and shall not be affected by, Executive's obtaining other employment after his Employment Termination, provided that any such benefit or coverage shall not be furnished if Executive expressly waives the specific benefit or coverage by giving written notice of waiver to the Company.
Mitigation and Set-Off. Executive shall not be required to mitigate Executive’s damages by seeking other employment or otherwise. The Company’s obligations under this Agreement shall not be reduced in any way by reason of any compensation or benefits received (or foregone) by Executive from sources other than the Company after Executive’s Date of Termination, or any amounts that might have been received by Executive in other employment had Executive sought other employment, except for the termination of the COBRA subsidy as provided in Section 3.3 of this Agreement.
Mitigation and Set-Off. The Employee shall have no duty to mitigate damages under the terms of this Agreement. Moreover, the amount of any compensation (including base compensation and incentive or bonus compensation) received by Employee following the termination of the Employee's employment with the Company, whether from a subsequent full-time or part-time employer or from self-employment, shall not reduce the amount of the severance benefit that the Employee is entitled to receive under Sections 4 and 5 hereof. The Employee is under no duty to notify the Company of compensation received or to be received from such other employment.
Mitigation and Set-Off. You shall not be required to mitigate the amount of any payment or benefit provided for in this Agreement by seeking other employment or otherwise. Neither the Company nor GE Capital shall be entitled to set off against the amounts or benefits payable to you under this Agreement any amounts you owe to the Company, GE Capital or any of their affiliates, any amounts or benefits you earn in other employment after termination employment with the Company, or any amounts which you might have been earned in other employment had you sought such other employment.