Common use of Duty to Seek Other Employment Clause in Contracts

Duty to Seek Other Employment. If the Employee's employment hereunder is terminated by the Company Without Cause pursuant to Section 6(a)(v), or due to the Employee's resignation for Good Reason pursuant to Section 6(a)(vi), the Employee agrees, during the entire period of time that the Employee is entitled to receive any benefits pursuant to Section 7(c) above, to make known the Employee's availability for employment involving services of a nature substantially similar and of a comparable stature to those performed by the Employee on behalf of the Company in a manner customary for executives holding positions substantially similar and of a comparable stature to the Employee's position with the Company; provided, however, that the Employee shall only be obligated to accept such employment if the principal office where the Employee will be employed is located within a fifty (50) mile radius from Coral Gables, Florida. The Employee agrees to keep the Chairman of the Board of Avatar (or his designee) apprised of the Employee's employment status during such period and, if requested, the Employee will provide appropriate supporting documentation with respect to the salary, bonuses or other compensation earned by and benefits made available to the Employee in respect of such employment. In the event the Employee secures employment as described in this Section 7(d), the Company shall be entitled to (i) deduct from the amounts payable to the Employee pursuant to Sections 7(c)(i) and 7(c)(ii) above (excluding any accrued but unpaid Annual Bonus through the date of termination) any salary, bonuses or other compensation paid to the Employee in connection with such employment and (ii) terminate the Employee's participation in (and shall not be required to pay the Employee any sums in respect of) any employee benefit plans and programs described in Section 7(c)(iii) that are substantially similar to any employee benefit plans and programs in which the Employee participates in connection with such new or existing employment. The Employee agrees promptly to repay to the Company any amounts paid to the Employee by the Company pursuant to Sections 7(c)(i) and 7(c)(ii) which the Company was entitled to deduct from such amounts pursuant to this Section 7(d).

Duty to Seek Other Employment. If the Employee's ’s employment hereunder is terminated by the Company Without Cause pursuant to Section 6(a)(v5(a)(v), or due to the Employee's ’s resignation for Good Reason pursuant to Section 6(a)(vi5(a)(vi), the Employee agrees, during the entire period of time that the Employee is entitled to receive any benefits pursuant to Section 7(c6(d) above, to make known the Employee's ’s availability for employment involving services of a nature substantially similar and of a comparable stature to those performed by the Employee on behalf of the Company in a manner customary for executives holding positions substantially similar and of a comparable stature to the Employee's ’s position with the Company; provided, however, that that, subject to Section 4 hereof, the Employee shall only be obligated to accept such employment if the principal office where the Employee will be employed is located within a fifty (50) mile radius from of Coral Gables, Florida. The Employee agrees to keep the Chairman of the Board of Avatar (or his designee) apprised of the Employee's ’s employment status during such period and, if requested, the Employee will provide appropriate supporting documentation with respect to the salary, bonuses or other compensation earned by and benefits made available to the Employee in respect of such employment. In the event the Employee secures employment as described in this Section 7(d6(e), the Company shall be entitled to (i) deduct from the amounts payable to the Employee pursuant to Sections 7(c)(i6(d)(i) and 7(c)(ii6(d)(ii) above (excluding any accrued but unpaid Annual Bonus through the date Date of terminationTermination) any salary, bonuses or other compensation paid to the Employee in connection with such employment and (ii) terminate the Employee's ’s participation in (and shall not be required to pay the Employee any sums in respect of) any employee benefit plans and programs described in Section 7(c)(iii6(d)(ii) that are substantially similar to any employee benefit plans and programs in which the Employee participates in connection with such new or existing employment. The Employee agrees promptly to repay to the Company any amounts paid to the Employee by the Company pursuant to Sections 7(c)(i6(d)(i) and 7(c)(ii6(d)(ii) which the Company was entitled to deduct from such amounts pursuant to this Section 7(d6(e).