Common use of No Obligation to Mitigate Clause in Contracts

No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by another employer; PROVIDED, HOWEVER, that, to the extent Executive receives from a subsequent employer health or other insurance benefits that are substantially similar to the benefits referred to in this Termination Agreement, any such benefits to be provided by the Company to Executive following the Term shall be correspondingly reduced.

Appears in 9 contracts

Samples: Termination and Change of Control Agreement (Commercial Intertech Corp), Termination and Change of Control Agreement (Commercial Intertech Corp), Termination and Change of Control Agreement (Commercial Intertech Corp)

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No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination Termination, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by another employer; PROVIDED, HOWEVER, that, to the extent Executive receives from a subsequent employer health or other insurance benefits that are substantially similar to the benefits referred to in this Termination Agreement, any such benefits to be provided by the Company to Executive following the Term shall be correspondingly reduced.

Appears in 8 contracts

Samples: Termination and Change of Control Agreement (Commercial Intertech Corp), Termination and Change of Control Agreement (Commercial Intertech Corp), Termination and Change of Control Agreement (Commercial Intertech Corp)

No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages hereunder on or after Executive's Date of Termination Termination, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by another employer; PROVIDEDprovided, HOWEVERhowever, that, to the extent Executive receives from a subsequent employer health or other insurance benefits that are substantially similar to the benefits referred to in this Termination Agreement, any such benefits to be provided by the Company to Executive following the Term shall be correspondingly reduced.

Appears in 6 contracts

Samples: Termination and Change of Control Agreement (Walbro Corp), Termination and Change of Control Agreement (Walbro Corp), Termination and Change of Control Agreement (Walbro Corp)

No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by another employer; PROVIDEDprovided, HOWEVERhowever, that, to the extent Executive receives from a subsequent employer health or other insurance benefits that are substantially similar to the benefits referred to in this Termination Agreement, any such benefits to be provided by the Company to Executive following the Term shall be correspondingly reduced.

Appears in 2 contracts

Samples: Termination and Change of Control Agreement (Cuno Inc), Control Agreement (Cuno Inc)

No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination nor shall Termination, and the amount of any payment hereunder or benefit provided for in this Agreement shall not be reduced by any compensation or benefits earned by the Executive as a the result of employment by another employeremployer or by retirement benefits; PROVIDEDprovided, HOWEVERhowever, that, to the extent Executive receives from a subsequent employer health benefits or other insurance benefits that are substantially similar Executive is entitled to receive after the benefits referred to Date of Termination may be reduced in this Termination Agreement, any such benefits to be provided by accordance with the Company to Executive following the Term shall be correspondingly reducedterms of Section 11(e)(ii).

Appears in 1 contract

Samples: Employment Agreement (National Steel Corp)

No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination nor shall Termination, and the amount of any payment hereunder or benefit provided for in this Agreement shall not be reduced by any compensation or benefits earned by the Executive as a the result of employment by another employeremployer or by retirement benefits; PROVIDEDprovided, HOWEVERhowever, that, to the extent Executive receives from a subsequent employer health benefits or other insurance benefits that are substantially similar Executive is entitled to receive after the benefits referred to Date of Termination may be reduced in this Termination Agreement, any such benefits to be provided by accordance with the Company to Executive following the Term shall be correspondingly reducedterms of Section 11 (e) (ii).

Appears in 1 contract

Samples: Employment Agreement (National Steel Corp)

No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination Termination, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by another employer; PROVIDEDprovided, HOWEVERhowever, that, to the extent Executive receives from a subsequent employer health or other insurance benefits that are substantially similar to the benefits referred to in this Termination Agreement, any such benefits to be provided by the Company to Executive following the Term shall be correspondingly reduced.

Appears in 1 contract

Samples: Termination and Change of Control Agreement (Dt Industries Inc)

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No Obligation to Mitigate. Executive shall not be required to seek ------------------------- other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination nor shall Termination, and the amount of any payment hereunder or benefit provided for in this Agreement shall not be reduced by any compensation or benefits earned by the Executive as a the result of employment by another employeremployer or by retirement benefits; PROVIDEDprovided, HOWEVERhowever, that, to the extent Executive receives from a subsequent employer health benefits or other insurance -------- ------- benefits that are substantially similar Executive is entitled to receive after the benefits referred to Date of Termination may be reduced in this Termination Agreement, any such benefits to be provided by accordance with the Company to Executive following the Term shall be correspondingly reducedterms of Section 11 (e) (ii).

Appears in 1 contract

Samples: Employment Agreement (National Steel Corp)

No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination nor shall Termination, and the amount of any payment hereunder or benefit provided for in this Agreement shall not be reduced by any compensation or benefits earned by the Executive as a the result of employment by another employeremployer or by retirement benefits; PROVIDEDprovided, HOWEVERhowever, that, to the extent Executive receives from a subsequent employer health benefits or other insurance benefits that are substantially similar Executive is entitled to receive after the benefits referred to Date of Termination may be reduced in this Termination Agreement, any such benefits to be provided by accordance with the Company to Executive following the Term shall be correspondingly reducedterms of Section 11 (f) (ii).

Appears in 1 contract

Samples: Employment Agreement (National Steel Corp)

No Obligation to Mitigate. Executive shall not be required to seek other employment or otherwise to mitigate Executive's damages on or after Executive's Date of Termination nor shall Termination, and the amount of any payment hereunder or benefit provided for in this Agreement shall not be reduced by any compensation or benefits earned by the Executive as a the result of employment by another employeremployer or by retirement benefits; PROVIDEDprovided, HOWEVERhowever, that, to the extent Executive receives from a subsequent employer health or other insurance benefits that are substantially similar Executive is entitled to receive after the benefits referred to Date of Termination may be reduced in this Termination Agreement, any such benefits to be provided by accordance with the Company to Executive following the Term shall be correspondingly reducedterms of Section 11(e)(ii).

Appears in 1 contract

Samples: Employment Agreement (National Steel Corp)

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