Common use of Mutually Exclusive Benefits Clause in Contracts

Mutually Exclusive Benefits. For the avoidance of doubt, the benefits afforded under Sections 4(b) and 5 are mutually exclusive. If Executive has an Involuntary Termination within three (3) months prior to a Change of Control and becomes entitled to cash severance pursuant to Section 4(b), but already received cash severance pursuant to Section 5, the amount of the cash severance payable pursuant to Section 4(b) shall be offset by the amount already paid, subject to compliance with Section 409A of the Code.

Appears in 3 contracts

Samples: Change of Control and Severance Agreement (Invitae Corp), Change of Control and Severance Agreement (Invitae Corp), Change of Control and Severance Agreement (Invitae Corp)

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Mutually Exclusive Benefits. For the avoidance of doubt, the benefits afforded under Sections 4(b) 4 and 5 are mutually exclusive. If Executive has an Involuntary Termination within three (3) months prior to a Change of Control and becomes entitled to cash severance pursuant to Section 4(b)4, but already received cash severance pursuant to Section 5, the amount of the cash severance payable pursuant to Section 4(b) 4 shall be offset by the amount already paid, subject to compliance with Section 409A of the Code.

Appears in 2 contracts

Samples: Change of Control and Severance Agreement (SITIME Corp), Change of Control and Severance Agreement (SITIME Corp)

Mutually Exclusive Benefits. For the avoidance of doubt, the benefits afforded under Sections 4(b) and 5 Section 6 are mutually exclusiveexclusive with the benefits afforded under Section 5. If Executive has an Involuntary Termination within three (3) months prior to a Change of Control and becomes entitled to cash severance pursuant to Section 4(b)5, but already received cash severance pursuant to Section 56, the amount of the cash severance payable pursuant to Section 4(b) 5 shall be offset by the amount already paid, subject to compliance with Section 409A of the Code.

Appears in 1 contract

Samples: Change of Control and Severance Agreement (SITIME Corp)

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Mutually Exclusive Benefits. For the avoidance of doubt, the benefits afforded under Sections 4(b) 4 and 5 are mutually exclusive. If Executive has an Involuntary Termination within three (3) months prior to a Change of Control and becomes entitled to cash severance pursuant to Section 4(b)4, but already received cash severance pursuant to Section 5, the amount of the cash severance payable pursuant to Section 4(b) 4 shall be offset by the amount already paid, subject to compliance with Section 409A of the Code.

Appears in 1 contract

Samples: Change of Control and Severance Agreement (Immersion Corp)

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