No Mitigation by Executive Clause Samples
The "No Mitigation by Executive" clause establishes that the executive is not required to seek or accept alternative employment or otherwise mitigate damages in the event of termination. In practice, this means that if the executive's employment ends and they are entitled to severance or other post-termination benefits, those payments will not be reduced even if the executive finds a new job or earns additional income. This clause ensures that the executive receives the full amount of agreed-upon benefits without an obligation to offset them, providing financial certainty and protecting the executive from a reduction in compensation due to post-termination activities.
No Mitigation by Executive. Except as otherwise expressly provided herein, Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for herein be reduced by any compensation earned by Executive as the result of employment by another employer; provided, however, that if Executive becomes employed with another employer and is eligible to receive health and/or medical benefits under such other employer’s plans, Executive’s continued benefits and/or plan coverage as set forth in Section 4.2 or 4.3, as the case may be, shall be reduced to the extent that comparable benefits and/or coverage is provided under such other employer’s plans.
No Mitigation by Executive. Except as otherwise expressly provided herein, Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for herein be reduced by any compensation earned by Executive as the result of employment by another employer; provided, however, that if Executive becomes employed with another employer and is eligible to receive health and/or medical benefits that are substantially comparable to those offered by the Company under such other employer’s plans, Executive’s continued benefits and/or plan coverage as set forth in Section 4.2 or 4.3, as the case may be, shall end.
No Mitigation by Executive. Executive shall not be required, under any circumstance including provision in this Agreement, to mitigate the amount of any compensation or payment provided for in this Agreement by seeking other employment.
No Mitigation by Executive. Except as otherwise expressly provided herein, the Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for herein be reduced by any compensation earned by the Executive as the result of employment by another employer; provided, however, that if the Executive becomes employed with another employer and is eligible to receive life, disability, accident and health insurance benefits under another employer-provided plan, the Executive's continued plan coverage as set forth in Section 3(ii) or 4(iii) hereof, as the case may be, shall be secondary to the coverage provided under such other plan(s) during such applicable period of eligibility.
No Mitigation by Executive. Pursuant to Section 4.5 of the Employment Agreement, except as otherwise expressly provided herein (including, without limitation, in Paragraph 2(d) above), Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any Severance payment provided for herein be reduced by any compensation earned by Executive as the result of employment by another employer.
No Mitigation by Executive. Pursuant to Section 4.5 of the Employment Agreement, except as otherwise expressly provided herein, Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any Severance payment provided for herein be reduced by any compensation earned by Executive as the result of employment by another employer; provided, however, that if Executive becomes employed with another employer and is eligible to receive health and/or medical benefits under such other employer’s plans, the Benefits Payments (as set forth in Paragraph 2(c) above) shall be reduced to the extent that comparable benefits and/or coverage is provided under such other employer’s plans.
No Mitigation by Executive. The Executive will not be required to mitigate any damages he may suffer by reason of the termination of his employment hereunder by the Company or himself pursuant to section 4.03, nor will any mitigation of damages be taken into account in any action for actual or alleged damages by the Executive against the Company for the amounts payable or benefits receivable pursuant to section 4.04. The Company expressly agrees to waive the defence of failure to mitigate in any such action. No rights or benefits required to be provided to the Executive hereunder will be terminated or reduced as a result of his employment by another employer, or engaging in any other business on his own or on behalf of or with others, at any time after the termination of his employment hereunder, nor will such obligations be affected by virtue of his death subsequent to the termination of his employment hereunder (in which event all amounts payable at and after the time of death will be payable to his legal representatives as required by subsection 4.03(a)) except to the extent specifically provided in this agreement.