RELEASE OF FOREIGN RIGHTS. If, during the course of Executives employment with Company or its Affiliates, Executive may acquire any compensation, retirement, severance or other similar rights or benefits under the laws of a country other than the United States of America, ("Extraterritorial Rights") then the compensation and benefits of this Agreement shall supersede and replace such Extra Territorial Rights to the extent permitted by law. Furthermore, to the extent the Extra Territorial Rights may not be superseded under the applicable law, any payments or benefits under applicable law, any payments or benefits under this Agreement shall be reduced on a dollar for dollar basis for any amounts paid Executive for any Extra Territorial Rights. By entering into this Agreement Executive expressly acknowledges:
Appears in 7 contracts
Samples: Executive Employment Agreement (Dailey Petroleum Services Corp), Executive Employment Agreement (Dailey Petroleum Services Corp), Executive Employment Agreement (Dailey Petroleum Services Corp)
