Common use of RELEASE; NO MITIGATION Clause in Contracts

RELEASE; NO MITIGATION. Any and all amounts payable and benefits or additional rights provided pursuant to this Agreement beyond the Accrued Benefits shall only be payable if the Executive delivers to the Company and does not revoke a general release of claims in favor of the Company in a form attached here as Exhibit A, and only if such release is executed and delivered (and no longer subject to revocation, if applicable) within sixty (60) days following termination. The Executive shall have no duty to seek other employment and the amounts, benefits and entitlements payable to the Executive hereunder or otherwise shall not be subject to reduction, offset or repayment for any compensation received by the Executive from services provided by the Executive following the termination of the Executive’s employment with the Company.

Appears in 8 contracts

Sources: Employment Agreement (Gener8 Maritime, Inc.), Employment Agreement (Gener8 Maritime, Inc.), Employment Agreement (Gener8 Maritime, Inc.)

RELEASE; NO MITIGATION. Any and all amounts payable and benefits or additional rights provided pursuant to this Agreement beyond the Accrued Benefits shall only be payable if the Executive executes, delivers to the Company Company, and does not revoke a general release of claims in favor substantially the form of the Company in a form Exhibit A attached here as Exhibit A, and only if such release is executed and delivered (and no longer subject to revocation, if applicable) hereto within sixty (60) days following terminationthe Date of Termination. The In no event shall the Executive shall have no duty be obligated to seek other employment and or take any other action by way of mitigation of the amounts, benefits and entitlements amounts payable to the Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder or otherwise shall not be subject to reduction, offset or repayment for reduced by any compensation received earned by the Executive from services as a result of employment by a subsequent employer, except as provided by the Executive following the termination of the Executive’s employment with the Company.in Section 7(d)(iv) hereof

Appears in 2 contracts

Sources: Employment Agreement (Epicor Software Corp), Employment Agreement (Epicor Software Corp)

RELEASE; NO MITIGATION. Any and all amounts payable and benefits or additional rights provided pursuant to this Agreement beyond the Accrued Benefits shall only be payable if the Executive delivers to the Company and does not revoke a general release of claims in favor of the Company in a form attached here as Exhibit A, and only if such substance reasonably satisfactory to the Company. Such release is shall be executed and delivered (and no longer subject to revocation, if applicable) within sixty (60) days following termination. The Executive shall have no duty to seek other employment and the amounts, benefits and entitlements payable to the Executive hereunder or otherwise shall not be required to mitigate the amounts of any payment or other benefit under this Agreement, whether by seeking employment or otherwise, nor shall any compensation earned by Executive as a result of employment reduce any amounts payable under this Agreement subject to reduction, offset or repayment for any compensation received by the Executive from services provided by the Executive following the termination of the Executive’s employment with the Companyrestrictive covenants set forth in Section 14.

Appears in 1 contract

Sources: Employment Agreement (Numerex Corp /Pa/)

RELEASE; NO MITIGATION. Any and all amounts payable and benefits or additional rights provided pursuant to this Agreement beyond the Accrued Benefits shall only be payable if the Executive executes, delivers to the Company Company, and does not revoke a general release of claims in favor substantially the form of the Company in a form Exhibit A attached here as Exhibit A, and only if such release is executed and delivered (and no longer subject to revocation, if applicable) hereto within sixty (60) days following terminationthe Date of Termination. The In no event shall the Executive shall have no duty be obligated to seek other employment and or take any other action by way of mitigation of the amounts, benefits and entitlements amounts payable to the Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder or otherwise shall not be subject to reduction, offset or repayment for reduced by any compensation received earned by the Executive from services as a result of employment by a subsequent employer, except as provided by the Executive following the termination of the Executive’s employment with the Companyin Section 7(d)(iii) hereof.

Appears in 1 contract

Sources: Employment Agreement (Epicor International Holdings, Inc.)