Common use of No Effect on Other Contractual Rights Clause in Contracts

No Effect on Other Contractual Rights. The provisions of this Agreement, and any payment provided for hereunder, shall not reduce any amounts otherwise payable, or in any way diminish Employee's existing rights, or rights which would accrue solely as a result of the passage of time, under any Benefit Plan, employment agreement or other contract, plan or arrangement, except that the provisions of this Agreement and any payment provided for hereunder, shall be in lieu of payments otherwise due to Employee under any of the Company's severance pay policies on account of Employee's termination of employment upon (or in anticipation of, as set forth in Section 2(b)) the occurrence of a Change in Control.