No Mitigation; Offset. In the event of any termination of the Executive’s employment with the Company, the Executive shall be under no obligation to seek other employment or otherwise mitigate the obligations of the Company under this Agreement. The Company may offset against amounts due the Executive under this Agreement on account of (A) any claim that the Company or any of its shareholders or Affiliates may have against him or (B) any remuneration or other benefit earned or received by the Executive after such termination except as specifically provided in Section 8(d)(iii)(3).
Appears in 6 contracts
Sources: Employment Agreement (ACA Capital Holdings Inc), Employment Agreement (ACA Capital Holdings Inc), Employment Agreement (ACA Capital Holdings Inc)
No Mitigation; Offset. In the event of any termination of the Executive’s employment with the Companyhis employment, the Executive shall be under no obligation to seek other employment or otherwise mitigate the obligations of the Company under this Agreement. The Company may and there shall be no offset against amounts due the Executive under this Agreement to him on account of (A) any remuneration or benefits provided by any subsequent employment he may obtain. The Company's obligation to make any payment pursuant to, and otherwise to perform its obligations under, this Agreement shall be subject to setoff, counterclaim and the Company's other rights with respect to any claim that the Company or any of its shareholders or Affiliates may have against him or (B) any remuneration or other benefit earned or received by the Executive after such termination except as specifically provided in Section 8(d)(iii)(3)for any reason.
Appears in 1 contract
No Mitigation; Offset. In the event of any termination of the Executive’s 's employment with the Companyhereunder, the Executive shall be under no obligation to seek other employment or otherwise mitigate the obligations of the Company under this Agreement. The Company may Except as provided in Section 13(c), there shall be no offset against any amounts due the Executive under this Agreement on account of (A) any claim remuneration attributable to any subsequent employment that Executive may obtain. The Company may offset any payments due Executive with any amounts owed to the Company or by Executive at the time of the termination of Executive's employment for any reason and by any damages the Company realizes as a result of its shareholders or Affiliates may have against him or (B) Executive's breach of any remuneration or other benefit earned or received by the Executive after such termination except as specifically provided in Section 8(d)(iii)(3)provision of this Agreement.
Appears in 1 contract
No Mitigation; Offset. In the event of any termination of the Executive’s employment with the Company, the Executive shall be under no obligation to seek other employment or otherwise mitigate the obligations of the Company under this Agreement. The Company may offset against amounts due the Executive under this Agreement on account of (A) any claim that the Company or any of its shareholders or Affiliates may have against him her or (B) any remuneration or other benefit earned or received by the Executive after such termination except as specifically provided in Section 8(d)(iii)(3).
Appears in 1 contract