Common use of Discharge of the Company’s Obligations Clause in Contracts

Discharge of the Company’s Obligations. Except as expressly provided in the last sentence of this Section 6(e), the amounts payable to Executive pursuant to this Section 6 (whether or not reduced pursuant to Section 6(f)) following termination of Executive’s employment shall be in full and complete satisfaction of Executive’s rights under this Agreement and any other claims Executive may have in respect of employment by the Company or any of its subsidiaries. Such amounts shall constitute liquidated damages with respect to any and all such rights and claims and, upon Executive’s receipt of such amounts, the Company shall be released and discharged from any and all liability to Executive in connection with this Agreement or otherwise in connection with Executive’s employment with the Company and its subsidiaries. Nothing in this Section 6(e) shall be construed to release the Company from its commitment to indemnify Executive and hold Executive harmless as provided in Section 4(e).

Appears in 3 contracts

Samples: Employment Agreement (Protective Life Corp), Employment Agreement (Protective Life Corp), Employment Agreement (Protective Life Corp)

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Discharge of the Company’s Obligations. Except as expressly provided in the last sentence of this Section 6(e7(d), the amounts payable to Executive pursuant to this Section 6 7 (whether or not reduced pursuant to Section 6(f7(e)) following termination of Executive’s employment shall be in full and complete satisfaction of Executive’s rights under this Agreement and any other claims Executive may have in respect of employment by the Company or any of its subsidiaries. Such amounts shall constitute liquidated damages with respect to any and all such rights and claims and, upon Executive’s receipt of such amounts, the Company shall be released and discharged from any and all liability to Executive in connection with this Agreement or otherwise in connection with Executive’s employment with the Company and its subsidiaries. Nothing in this Section 6(e7(d) shall be construed to release the Company from its commitment to indemnify Executive and hold Executive harmless as provided in Section 4(e5(e).

Appears in 2 contracts

Samples: Employment Continuation Agreement (Protective Life Corp), Employment Continuation Agreement (Protective Life Corp)

Discharge of the Company’s Obligations. Except as expressly provided in the last sentence of this Section 6(e7(d), the amounts payable to Executive Senior Officer pursuant to this Section 6 7 (whether or not reduced pursuant to Section 6(f7(e)) following termination of ExecutiveSenior Officer’s employment shall be in full and complete satisfaction of ExecutiveSenior Officer’s rights under this Agreement and any other claims Executive Senior Officer may have in respect of employment by the Company or any of its subsidiaries. Such amounts shall constitute liquidated damages with respect to any and all such rights and claims and, upon ExecutiveSenior Officer’s receipt of such amounts, the Company shall be released and discharged from any and all liability to Executive Senior Officer in connection with this Agreement or otherwise in connection with ExecutiveSenior Officer’s employment with the Company and its subsidiaries. Nothing in this Section 6(e7(d) shall be construed to release the Company from its commitment to indemnify Executive Senior Officer and hold Executive Senior Officer harmless as provided in Section 4(e5(e).

Appears in 2 contracts

Samples: Employment Continuation Agreement (Protective Life Corp), Employment Continuation Agreement (Protective Life Corp)

Discharge of the Company’s Obligations. Except as expressly provided in the last sentence of this Section 6(e7(d), the amounts payable to Executive Officer pursuant to this Section 6 7 (whether or not reduced pursuant to Section 6(f7(e)) following termination of ExecutiveOfficer’s employment shall be in full and complete satisfaction of ExecutiveOfficer’s rights under this Agreement and any other claims Executive Officer may have in respect of employment by the Company or any of its subsidiaries. Such amounts shall constitute liquidated damages with respect to any and all such rights and claims and, upon ExecutiveOfficer’s receipt of such amounts, the Company shall be released and discharged from any and all liability to Executive Officer in connection with this Agreement or otherwise in connection with ExecutiveOfficer’s employment with the Company and its subsidiaries. Nothing in this Section 6(e7(d) shall be construed to release the Company from its commitment to indemnify Executive Officer and hold Executive Officer harmless as provided in Section 4(e5(e).

Appears in 1 contract

Samples: Employment Continuation Agreement (Protective Life Corp)

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Discharge of the Company’s Obligations. Except as expressly provided in the last sentence of this Section 6(e6(d), the amounts payable to the Executive pursuant to this Section 6 (whether or not reduced pursuant to Section 6(f6(e)) following termination of Executive’s his employment shall be in full and complete satisfaction of the Executive’s 's rights under this Agreement and any other claims Executive he may have in respect of his employment by the Company or any of its subsidiariesSubsidiaries. Such amounts shall constitute liquidated damages with respect to any and all such rights and claims and, upon the Executive’s 's receipt of such amounts, the Company shall be released and discharged from any and all liability to the Executive in connection with this Agreement or otherwise in connection with the Executive’s 's employment with the Company and its subsidiariesSubsidiaries. Nothing in this Section 6(e6(d) shall be construed to release the Company from its commitment to indemnify the Executive and hold Executive harmless as provided in pursuant to Section 4(e).

Appears in 1 contract

Samples: Employment Continuation Agreement (Farr Co)

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