Consent to Offset Clause Samples
The Consent to Offset clause allows one party to deduct amounts owed to them by the other party from payments they are otherwise required to make. In practice, if Party A owes Party B $1,000 but is also owed $200 by Party B, Party A can pay only the net amount of $800. This clause streamlines financial settlements between parties and helps prevent unnecessary back-and-forth payments, ultimately reducing administrative burden and minimizing the risk of non-payment.
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Consent to Offset. Employee agrees that any repayment due the Company under this Agreement may be deducted to the extent permitted by law from any amounts due Employee from the Company at time of termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s).
Consent to Offset. Candidate agrees that any repayment due AMD under this Agreement may be deducted to the extent permitted by law from any amounts due Candidate from AMD at the time of employment termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s).
Consent to Offset. Candidate agrees that any repayment due KDCE under this Agreement may be deducted to the extent permitted by law from any amounts due Candidate from KDCE at the time of employment termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s).
Consent to Offset. You agree that any repayment due to the company under this letter agreement may be deducted, to the fullest extent allowed by governing law, from any amounts that may otherwise be owed to you by the company and/or any of its affiliates, including, but not limited to, any wages, reimbursements, incentive compensation payments, and/or payout of accrued time off (including iTOWP, TOWP, etc.) and by your signature below, you hereby expressly authorize such deduction(s). You further agree to execute any and all documents as may be reasonably necessary to carry out the terms and conditions of this letter agreement. You also understand that the company retains the right to seek any remaining balance from you after your separation through any other available remedies it may have in law or equity. It is intended that the provisions of this Agreement comply with Section 409A of the U.S. Internal Revenue Code and with the exclusion from Section 409A deferred compensation for so-called short-term deferrals, and all provisions of this Agreement shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes and penalties under Section 409A.
Consent to Offset. Candidate agrees that any repayment due NIHK under this Agreement may be deducted to the extent permitted by law from any amounts due Candidate from NIHK at the time of employment termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s).
Consent to Offset. Candidate agrees that any repayment due INSYS under this Agreement may be deducted to the extent permitted by law from any amounts due, but not yet paid, to Candidate from INSYS at the time of employment termination, including wages, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s).
Consent to Offset. To the extent a clawback is triggered per Section 3 above, Employee agrees that any repayment due Employer under this Agreement may be deducted to the extent permitted by law from any amounts due Employee from Employer at the time of employment termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s).
Consent to Offset. Candidate agrees that any repayment due COMPANY under this Agreement may by deducted to the extent permitted by law from any amounts due Candidate from COMPANY at the time of employment termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and hereby expressly authorizes such deduction(s).
Consent to Offset. Executive agrees that any repayment due SPANSION in connection with Relocation Expenses may be deducted to the extent permitted by law from any amounts due Executive from SPANSION at time of his employment termination, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions.
Consent to Offset. You agree that any repayment due to Parent or Employer under this Agreement may be deducted to the fullest extent permitted by law from any amounts due to you, including wages, accrued vacation pay, incentive compensation payments, bonuses and commissions, and you hereby expressly authorize such deduction(s).