Common use of Non-Monetary Benefits Clause in Contracts

Non-Monetary Benefits. If the Company is obligated to provide severance benefits pursuant to this Agreement, the Company, in its sole discretion, either shall provide the Employee a monetary benefit on a monthly basis that will enable the Employee to obtain independently an equivalent benefit to that provided by the Company's plan, or will pay directly the Employee's COBRA payment for the period the Employee is eligible for the benefit. The Company's obligation pursuant to this Paragraph, however, shall cease if and when the Employee obtains alternative employment and receives a comparable benefit from his subsequent employer, or when the benefit period set forth in this Agreement ends, whichever occurs sooner. The Employee agrees that he will notify the Company within seven (7) days of receiving comparable benefits from another employer and that if he fails to do so, he will be obligated to refund the value of any benefits provided by the Company corresponding to the period when the benefits overlapped.

Non-Monetary Benefits. If the Company is obligated to provide severance benefits pursuant to this Agreement, the Company, in its sole discretion, either shall provide the Employee a monetary benefit on a monthly basis that will enable the Employee to obtain independently an equivalent benefit to that provided by the Company's plan, or will pay directly the Employee's COBRA payment for the period the Employee is eligible for the benefit. The Company's obligation pursuant to this Paragraph, however, shall cease if and when the Employee obtains alternative employment and receives a comparable benefit from his subsequent employer, or when the benefit period set forth in this Agreement ends, whichever occurs sooner. The Employee agrees that he she will notify the Company within seven (7) days of receiving comparable benefits from another employer and that if he fails to do so, he will be obligated to refund the value of any benefits provided by the Company corresponding to the period when the benefits overlapped.

Non-Monetary Benefits. If the Company is obligated to provide severance benefits pursuant to this Agreement, the Company, in its sole discretion, either shall provide the Employee a monetary benefit on a monthly basis that will enable the Employee to obtain independently an equivalent benefit to that provided by the Company's plan, or will pay directly the Employee's COBRA payment for the period the Employee is eligible for the benefitseverance benefits. The Company's obligation pursuant to this Paragraph, however, shall cease if and when the Employee obtains alternative employment and receives a comparable benefit from his subsequent employer, or when the benefit period set forth in this Agreement ends, whichever occurs sooner. The Employee agrees that he will notify the Company within seven (7) days of receiving comparable benefits from another employer and that if he fails to do so, he will be obligated to refund the value of any benefits provided by the Company corresponding to the period when the benefits overlapped.

Non-Monetary Benefits. If the Company is obligated to provide non - monetary severance benefits pursuant to this Agreement, the Company, in its sole discretion, either shall provide the Employee a monetary benefit on a monthly basis that will enable the Employee to obtain independently an equivalent benefit to that provided by the Company's plan, or will pay directly the Employee's COBRA payment for the period the Employee is eligible for the benefit. The Company's obligation pursuant to this Paragraph, however, shall cease if and when the Employee obtains alternative employment and receives a comparable benefit from his subsequent employer, or when the benefit period set forth in this Agreement ends, whichever occurs sooner. The Employee agrees that he will notify the Company within seven (7) days of receiving comparable benefits from another employer and that if he fails to do so, he will be obligated to refund the value of any benefits provided by the Company corresponding to the period when the benefits overlapped.