Common use of Non-Duplication of Payment or Benefits Clause in Contracts

Non-Duplication of Payment or Benefits. If: (i) the Executive’s Qualified Termination occurs prior to a Change in Control that qualifies Executive for severance payments and benefits under Section 3(a); and (ii) a Change in Control occurs within the 3-month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a) and (B) the Executive will receive the payments and benefits under Section 3(b) instead but each of the payments and benefits otherwise payable under Section 3(b) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a).

Appears in 6 contracts

Samples: Employment Agreement (Anaplan, Inc.), Employment Agreement (Anaplan, Inc.), Change in Control and Severance Agreement – Cfo (Anaplan, Inc.)

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Non-Duplication of Payment or Benefits. If: If (i) the Executive’s Qualified Termination occurs prior to a Change in Control that qualifies Executive for severance payments and benefits under Section 3(a); 7(a) and (ii) a Change in Control occurs within the 3-month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b7(b), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a7(a) and (B) the Executive will receive the payments and benefits under Section 3(b7(b) instead but each of the payments and benefits otherwise payable under Section 3(b7(b) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a7(a).

Appears in 4 contracts

Samples: Executive Employment Agreement (Nlight, Inc.), Executive Employment Agreement (Nlight, Inc.), Executive Employment Agreement (Nlight, Inc.)

Non-Duplication of Payment or Benefits. If: If (i) the Executive’s Qualified Termination occurs prior to a Change in of Control that qualifies the Executive for severance payments and benefits under Section 3(b) and (ii) a Change of Control occurs within the three-month period following the Executive’s Qualified Termination that qualifies the Executive for severance payments and benefits under Section 3(a); and (ii) a Change in Control occurs within the 3-month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a3(b) and (B) the Executive will receive the payments and benefits under Section 3(b3(a) instead but each of the payments and benefits otherwise payable under Section 3(b3(a) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a3(b).

Appears in 3 contracts

Samples: Change of Control and Severance Agreement (Talend SA), Change of Control and Severance Agreement (Talend S.A.), Change of Control and Severance Agreement (Talend S.A.)

Non-Duplication of Payment or Benefits. If: If (i) the Executive’s Qualified Termination occurs prior to a Change in of Control that qualifies Executive for severance payments and benefits under Section 3(a); 4(a) and (ii) a Change in of Control occurs within the 3-month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b4(b), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a4(a) and (B) the Executive will receive the payments and benefits under Section 3(b4(b) instead but each of the payments and benefits otherwise payable under Section 3(b4(b) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a4(a).

Appears in 3 contracts

Samples: Change of Control and Severance Agreement (Square, Inc.), Change of Control and Severance Agreement (Block, Inc.), Change of Control and Severance Agreement (Square, Inc.)

Non-Duplication of Payment or Benefits. If: If (i) the Executive’s Qualified Termination qualified termination occurs prior to a Change in Control that qualifies Executive for severance payments and benefits under Section 3(a); ) and (ii) a Change in Control occurs within the 3-month period following Executive’s Qualified Termination qualified termination that qualifies Executive for severance payments and benefits under Section 3(b), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a) and (B) the Executive will receive the payments and benefits under Section 3(b) instead but each of the payments and benefits otherwise payable under Section 3(b) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a).

Appears in 2 contracts

Samples: Change in Control and Severance Agreement (QuantumScape Corp), Change in Control and Severance Agreement (QuantumScape Corp)

Non-Duplication of Payment or Benefits. If: If (i) the Executive’s Qualified Termination occurs prior to a Change in Control that qualifies Executive for severance payments and benefits under Section 3(aSections 7(a) or 7(b); , as applicable, and (ii) a Change in Control occurs within the 3-month 3‑month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b7(c), then (A) the Executive will cease receiving any further payments or benefits under Section 3(aSections 7(a) or 7(b), as applicable, and (B) the Executive will receive the payments and benefits under Section 3(b7(c) instead but each of the payments and benefits otherwise payable under Section 3(b7(c) will be offset by the corresponding payments or benefits the Executive already received under Section 3(aSections 7(a) or 7(b), as applicable.

Appears in 1 contract

Samples: Executive Employment Agreement (Advance Holdings, LLC)

Non-Duplication of Payment or Benefits. If: If (i) the Executive’s Qualified Termination occurs prior to a Change in Control that qualifies Executive for severance payments and benefits under Section 3(a); 7(a) and (ii) a Change in Control occurs within the 3-month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b7(b), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a7(a) and (B) the Executive will receive the payments and benefits under Section 3(b7(b) instead but each of the payments and benefits otherwise payable under Section 3(b7(b) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a7(a).. (g)

Appears in 1 contract

Samples: Executive Employment Agreement (Nlight, Inc.)

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Non-Duplication of Payment or Benefits. If: (i) the Executive’s Qualified Termination occurs prior to a Change in Control that qualifies Executive for severance payments and benefits under Section 3(a3(b); and (ii) a Change in Control occurs within the 3-month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b3(c), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a3(b) and (B) the Executive will receive the payments and benefits under Section 3(b3(c) instead but each of the payments and benefits otherwise payable under Section 3(b3(c) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a3(b).

Appears in 1 contract

Samples: Change in Control and Severance Agreement (Anaplan, Inc.)

Non-Duplication of Payment or Benefits. If: If (i) the Executive’s Qualified Termination occurs prior to a Change in Control that qualifies Executive for severance payments and benefits under Section 3(a); ) and (ii) a Change in Control occurs within the 3-month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a) and (B) the Executive will receive the payments and benefits under Section 3(b) instead but each of the payments and benefits otherwise payable under Section 3(b) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a).

Appears in 1 contract

Samples: Change in Control and Severance Agreement (Dropbox, Inc.)

Non-Duplication of Payment or Benefits. If: If (i) the Executive’s Qualified Termination occurs prior to a Change in Control that qualifies Executive for severance payments and benefits under Section 3(a); ) and (ii) a Change in Control occurs within the 3-month 3‑month period following Executive’s Qualified Termination that qualifies Executive for severance payments and benefits under Section 3(b), then (A) the Executive will cease receiving any further payments or benefits under Section 3(a) and (B) the Executive will receive the payments and benefits under Section 3(b) instead but each of the payments and benefits otherwise payable under Section 3(b) will be offset by the corresponding payments or benefits the Executive already received under Section 3(a‎3(a).

Appears in 1 contract

Samples: Change in Control and Severance Agreement (Dropbox, Inc.)

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