Waiver of Other Benefits; Non-Duplication Sample Clauses

Waiver of Other Benefits; Non-Duplication. As a condition of and in consideration of your becoming eligible to receive the Severance Benefits provided under the terms and conditions of the Plan and this Participation Agreement, you agree to waive any and all rights, benefits, and privileges to severance or similar benefits that you might otherwise be entitled to receive under any other oral or written plan, employment agreement or arrangement (including, without limitation, your existing employment agreement or offer letter). You understand that this waiver is irrevocable, and that this Participation Agreement and the Plan set forth the entire agreement between us with respect to any subject matter covered herein. The Plan is intended to supersede, and not to duplicate, the provisions of the Sourcefire, Inc. Executive Retention Plan (“Retention Plan”) in any case in which you would otherwise be entitled to severance or related benefits under both this Plan and the Retention Plan arising out of your Qualifying Termination. For purposes of clarification, your waiver will not generally preclude you from eligibility to participate in the Retention Plan, but if you become eligible to receive Severance Benefits as a result of your Qualifying Termination, you will forfeit any “retention benefits” you might otherwise be entitled to receive under the Retention Plan. In no event will you be entitled to receive benefits under both the Plan and the Retention Plan as a result of your Termination.
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Waiver of Other Benefits; Non-Duplication. By agreeing to commence participation in the Plan, each Eligible Executive who would otherwise be entitled to receive Executive Change in Control Severance Plan severance or similar benefits in connection with a Termination under another employee benefit plan, employment agreement, offer letter, or other agreement or understanding with the Company agrees to irrevocably waive any such entitlement in full. Such waiver shall be in writing in such form as may reasonably be specified by the Plan Administrator (including in a Participation Agreement) and shall be filed with the Plan Administrator in accordance with such rules and procedures as it may reasonably establish. The Plan is intended to supersede, and not to duplicate, the provisions of the Sourcefire, Inc. Executive Retention Plan (“Retention Plan”) in any case in which an Eligible Executive would otherwise be entitled to severance or related benefits under both this Plan and the Retention Plan arising out of the Eligible Executive’s Qualifying Termination. In the event that an Eligible Executive becomes entitled to receive Severance Benefits under this Plan and any such benefits duplicate a benefit that would otherwise be provided under any other plan, program, arrangement or agreement, including without limitation, the Retention Plan, as a result of the Eligible Executive’s Termination (irrespective of whether such Termination constitutes a Qualifying Termination), then the Eligible Executive shall be entitled to receive only the Severance Benefits available under the Plan and in no event shall such Eligible Executive be entitled to receive any duplicative benefits. The Plan Administrator shall determine in its sole and exclusive judgment and discretion whether and in what manner the provisions of this Section 7.3 shall apply.

Related to Waiver of Other Benefits; Non-Duplication

  • Effect on Other Benefits In no event shall the value, at any time, of the RSUs or any other payment under this Agreement be included as compensation or earnings for purposes of any other compensation, retirement, or benefit plan offered to employees of the Company or any subsidiary of the Company unless otherwise specifically provided for in such plan. The RSUs and the underlying shares of Common Stock (or their cash equivalent), and the income and value of the same, are not part of normal or expected compensation or salary for any purpose including, but not limited to, calculation of any severance, resignation, termination, redundancy or end-of-service payments, holiday pay, bonuses, long-service awards, leave-related payments, pension or retirement benefits, or similar mandatory payments.

  • Non-Duplication of Benefits Executive is not eligible to receive benefits under this Agreement more than one time.

  • Effect of Agreement on Other Benefits Except as specifically provided in this Agreement, the existence of this Agreement shall not be interpreted to preclude, prohibit or restrict Executive’s participation in any other employee benefit or other plans or programs in which he currently participates.

  • Relation to Other Benefits Any economic or other benefit to the Grantee under this Agreement or the Plan shall not be taken into account in determining any benefits to which the Grantee may be entitled under any profit-sharing, retirement or other benefit or compensation plan maintained by the Company or any of its Subsidiaries and shall not affect the amount of any life insurance coverage available to any beneficiary under any life insurance plan covering employees of the Company or any of its Subsidiaries.

  • Severance Compensation and Benefits Not in Derogation of Other Benefits Anything to the contrary herein contained notwithstanding, the payment or obligation to pay any monies, or granting of any benefits, rights or privileges to Executive as provided in this Agreement shall not be in lieu or derogation of the rights and privileges that the Executive now has or will have under any plans or programs of or agreements with the Company, except that if the Executive received any payment hereunder, the Executive shall not be entitled to any payment under the Company’s severance policy for officers and directors.

  • Non-Duplication of Payment or Benefits For purposes of clarity, in the event of a Qualifying Pre-CIC Termination, any severance payments and benefits to be provided to the Executive under Section 3(b) will be reduced by any amounts that already were provided to the Executive under Section 3(a). Notwithstanding any provision of this Agreement to the contrary, if the Executive is entitled to any cash severance, continued health coverage benefits, or vesting acceleration of any equity awards (other than under this Agreement) by operation of applicable law or under a plan, policy, contract, or arrangement sponsored by or to which any member of the Company Group is a party (“Other Benefits”), then the corresponding severance payments and benefits under this Agreement will be reduced by the amount of Other Benefits paid or provided to the Executive.

  • Impact on Other Benefits The value of the Restricted Shares (either on the date hereof or at the time the Restricted Shares vest) shall not be includable as compensation or earnings for purposes of any benefit plan offered by the Corporation.

  • Non-duplication In the event that the Executive shall perform services for the Bank or any other direct or indirect subsidiary or affiliate of the Company or the Bank, any compensation or benefits provided to the Executive by such other employer shall be applied to offset the obligations of the Company hereunder, it being intended that this Agreement set forth the aggregate compensation and benefits payable to the Executive for all services to the Company, the Bank and all of their respective direct or indirect subsidiaries and affiliates.

  • Waiver of Past Events of Servicing Termination The Holders of Notes evidencing not less than 51% of the Note Balance of the Controlling Class may, on behalf of all Noteholders, waive any Event of Servicing Termination and its consequences, except an event resulting from the failure to make any required deposits to or payments from the Collection Account, the Note Payment Account, the Certificate Payment Account or the Reserve Account in accordance with this Agreement. Upon any such waiver of an Event of Servicing Termination, such event shall cease to exist, and shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other event or impair any right arising therefrom, except to the extent expressly so waived.

  • No Impact on Other Benefits The value of the Participant’s Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

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