Common use of No Duty to Mitigate Losses Clause in Contracts

No Duty to Mitigate Losses. Executive shall have no duty to find new employment following the termination of his employment under circumstances which require the Company to pay any amount to executive pursuant to this Section 7. Any salary or remuneration received by Executive from a third party for the providing of personal services (whether by employment or by functioning as an independent contractor) following the termination of his employment with the Company shall not reduce the Company's obligation to make a payment to Executive (or the amount of such payment) pursuant to the terms of said Section 7, other than as specifically set forth in Section 7(d)(iii) with respect to health insurance.

Appears in 4 contracts

Samples: Executive Employment Agreement (Nord Resources Corp), Executive Employment Agreement (Nord Resources Corp), Executive Employment Agreement (Nord Resources Corp)

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No Duty to Mitigate Losses. Executive shall have no duty to find new employment following the termination of his employment under circumstances which require the Company to pay any amount to executive pursuant to this Section section 7. Any salary or remuneration received by Executive from a third party for the providing of personal services (whether by employment or by functioning as an independent contractor) following the termination of his employment with the Company shall not reduce the Company's ’s obligation to make a payment to Executive (or the amount of such payment) pursuant to the terms of said Section section 7, other than as specifically set forth in Section 7(d)(iii) with section 7.4(c)with respect to health insurance.

Appears in 1 contract

Samples: Amended And (Nord Resources Corp)

No Duty to Mitigate Losses. Executive shall have no duty to find new employment following the termination of his employment under circumstances which require the Company to pay any amount to executive pursuant to this Section 7. Any salary or remuneration received by Executive from a third party for the providing of personal services (whether by employment or by functioning as an independent contractor) following the termination of his employment with the Company shall not reduce the Company's obligation to make a payment to Executive (or the amount of such payment) pursuant to the terms of said Section 7, other than as specifically set forth in Section 7(d)(iii7(d) (iii) with respect to health insurance.

Appears in 1 contract

Samples: Executive Employment Agreement (Nord Resources Corp)

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No Duty to Mitigate Losses. Executive shall have no duty to find new employment following the termination of his employment under circumstances which require the Company to pay any amount to executive pursuant to this Section 7. Any salary or remuneration received by Executive from a third party for the providing of personal services (whether by employment or by functioning as an independent contractor) following the termination of his employment with the Company shall not reduce the Company's obligation to make a payment to Executive (or the amount of such payment) pursuant to the terms of said Section 7, other than as specifically set forth in Section 7(d)(iii) with respect to health insuranceInsurance.

Appears in 1 contract

Samples: Executive Employment Agreement (Nord Resources Corp)

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