Common use of Nonduplication of Benefits Clause in Contracts

Nonduplication of Benefits. Notwithstanding any provision in this Agreement or in any other Employer benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.4, (a) any payments due under Section 7.1, Section 7.2 or Section 7.3 shall be made not more than once, if at all, (b) payments may be due under Section 7.1, Section 7.2 or Section 7.3, but under no circumstances shall payments be made under all of or any combination of Section 7.1, Section 7.2 and Section 7.3, (c) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employer, and (d) Executive shall not be entitled to severance benefits from Employer other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

Appears in 23 contracts

Samples: Executive Employment Agreement (STAG Industrial, Inc.), Executive Employment Agreement (STAG Industrial, Inc.), Executive Employment Agreement (STAG Industrial, Inc.)

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Nonduplication of Benefits. Notwithstanding any provision in this Agreement or in any other Employer benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.4, (a) any payments due under either Section 7.1, 7.1 or Section 7.2 or Section 7.3 shall be made not more than once, if at all, (b) payments may be due under either Section 7.1, Section 7.2 7.1 or Section 7.37.2, but under no circumstances shall payments be made under all of or any combination of both Section 7.1, Section 7.2 7.1 and Section 7.37.2, (c) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employer, and (d) Executive shall not be entitled to severance benefits from Employer other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

Appears in 11 contracts

Samples: Executive Employment Agreement (Meruelo Maddux Properties, Inc.), Executive Employment Agreement (Meruelo Maddux Properties, Inc.), Executive Employment Agreement (Meruelo Maddux Properties, Inc.)

Nonduplication of Benefits. Notwithstanding any provision in this Agreement or in any other Employer benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.4, (a) any payments due under either Section 7.1, 7.1 or Section 7.2 or Section 7.3 shall be made not more than once, if at all, (b) payments may be due under either Section 7.1, Section 7.2 7.1 or Section 7.37.2, but under no circumstances shall payments be made under all of or any combination of both Section 7.1, Section 7.2 7.1 and Section 7.37.2, (c) payment shall be made under Section 7.3 if and only if payments are due under Section 7.1 or Section 7.2, (d) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employer, and (de) Executive shall not be entitled to severance benefits from Employer other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

Appears in 6 contracts

Samples: Executive Employment Agreement (Meruelo Maddux Properties, Inc.), Executive Employment Agreement (Meruelo Maddux Properties, Inc.), Executive Employment Agreement (Meruelo Maddux Properties, Inc.)

Nonduplication of Benefits. Notwithstanding any provision in this Agreement or in any other Employer Company benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.49.5, (a) any payments due under either Section 7.1, Section 7.2 9.2 or Section 7.3 9.3 shall be made not more than once, if at all, (b) payments may be due under either Section 7.1, Section 7.2 9.2 or Section 7.39.3, but under no circumstances shall payments be made under all of or any combination of both Section 7.1, Section 7.2 9.2 and Section 7.39.3, (c) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employerthe Company, and (d) Executive shall not be entitled to severance benefits from Employer the Company other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

Appears in 4 contracts

Samples: Executive Employment Agreement (United Pan Am Financial Corp), Executive Employment Agreement (United Pan Am Financial Corp), Executive Employment Agreement (United Pan Am Financial Corp)

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Nonduplication of Benefits. Notwithstanding any provision in this Agreement or in any other Employer benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.4, (a) any payments due under Section 7.1, Section 7.2 or Section 7.3 shall be made not more than once, if at all, (b) payments may be due under Section 7.1, Section 7.2 or Section 7.3, but under no -7- circumstances shall payments be made under all of or any combination of Section 7.1, Section 7.2 and Section 7.3, (c) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employer, and (d) Executive shall not be entitled to severance benefits from Employer other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

Appears in 2 contracts

Samples: Executive Employment Agreement (STAG Industrial, Inc.), Executive Employment Agreement (STAG Industrial, Inc.)

Nonduplication of Benefits. Notwithstanding any provision in this Agreement or in any other Employer Company benefit plan or compensatory arrangement to the contrary, but at all times subject to Section 7.48.5, (a) any payments due under either Section 7.1, Section 7.2 8.2 or Section 7.3 8.3 shall be made not more than once, if at all, (b) payments may be due under either Section 7.1, Section 7.2 8.2 or Section 7.38.3, but under no circumstances shall payments be made under all of or any combination of both Section 7.1, Section 7.2 8.2 and Section 7.38.3, (c) no payments made under Sections 7.1, 7.2 and 7.3 this Agreement shall be considered compensation for purposes of any benefit plan or compensatory arrangement of Employerthe Company, and (d) Executive shall not be entitled to severance benefits from Employer the Company other than as contemplated under this Agreement, unless such other severance benefits offset and reduce the benefits due under this Agreement on a dollar-for-dollar basis, but not below zero.

Appears in 1 contract

Samples: Executive Employment Agreement (United Pan Am Financial Corp)

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