Common use of No Obligation to Mitigate Clause in Contracts

No Obligation to Mitigate. Officer shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and, except as provided in Section 5(a)(i)(2) hereof, no payment hereunder shall be offset or reduced by the amount of any compensation or benefits provided to Officer in any subsequent employment.

Appears in 24 contracts

Samples: Employment Agreement (Countrywide Financial Corp), Employment Agreement (Countrywide Financial Corp), Employment Agreement (Countrywide Financial Corp)

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No Obligation to Mitigate. Officer shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and, except as provided in Section 5(a)(i)(25(a) hereof, no payment hereunder shall be offset or reduced by the amount of any compensation or benefits provided to Officer in any subsequent employment.

Appears in 13 contracts

Samples: Employment Agreement (Indymac Bancorp Inc), Employment Agreement (Indymac Bancorp Inc), Employment Agreement (Indymac Bancorp Inc)

No Obligation to Mitigate. Officer shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and, except as provided in Section 5(a)(i)(2) hereof, and no payment hereunder shall be offset or reduced by the amount of any compensation or benefits provided to Officer in any subsequent employmentemployment except as expressly otherwise provided by Section 5. Employer’s obligation to make any payment provided for in this Agreement shall not be subject to set-off, counterclaim or recoupment.

Appears in 4 contracts

Samples: Employment Agreement (Indymac Bancorp Inc), Employment Agreement (Indymac Bancorp Inc), Employment Agreement (Indymac Bancorp Inc)

No Obligation to Mitigate. Officer shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and, except as provided in Section 5(a)(i)(2) hereof, no otherwise. No payment hereunder shall be offset or reduced by the amount of any compensation or benefits provided to Officer in any subsequent employmentemployment except as may be expressly otherwise provided by Section 6. Employer's obligation to make any payment provided for in this Agreement shall not be subject to set-off, counterclaim or recoupment.

Appears in 3 contracts

Samples: Employment Agreement (Presidential Life Corp), Employment Agreement (Presidential Life Corp), Employment Agreement (Presidential Life Corp)

No Obligation to Mitigate. Officer shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and, except as provided in Section 5(a)(i)(2) hereof, and no payment hereunder shall be offset or reduced by the amount of any compensation or benefits provided to Officer in any subsequent employmentemployment except as expressly otherwise provided by Section 5.

Appears in 2 contracts

Samples: Employment Agreement (Indymac Bancorp Inc), Employment Agreement (Indymac Bancorp Inc)

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No Obligation to Mitigate. Officer shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and, except as provided in Section Sections 4(e) and 5(a)(i)(2) hereof, no payment hereunder shall be offset or reduced by the amount of any compensation or benefits provided to Officer in any subsequent employment.

Appears in 2 contracts

Samples: Employment Agreement (Countrywide Financial Corp), Employment Agreement (Countrywide Financial Corp)

No Obligation to Mitigate. Officer shall not be required to ------------------------- mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and, except as provided in Section 5(a)(i)(2) hereof, no payment hereunder shall be offset or reduced by the amount of any compensation or benefits provided to Officer in any subsequent employment.

Appears in 2 contracts

Samples: Employment Agreement (Indymac Mortgage Holdings Inc), Employment Agreement (Indymac Mortgage Holdings Inc)

No Obligation to Mitigate. Officer shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise and, except as provided in Section 5(a)(i)(2) hereof, and no payment hereunder (other than payments in respect of the medical coverage to be provided to Officer and his spouse pursuant to Section 5(e)(ii) hereof) shall be offset or reduced by the amount of any compensation or benefits provided to Officer in any subsequent employment.

Appears in 1 contract

Samples: Employment Agreement (Countrywide Credit Industries Inc)

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