Common use of Effect on Existing Agreements Clause in Contracts

Effect on Existing Agreements. The severance benefits contemplated by this Agreement shall apply solely during the Severance Term. In the event that Executive is currently entitled to any termination or severance benefits, Executive expressly acknowledges and agrees that the severance benefits provided hereunder shall be in substitution of, and not in addition to, such existing severance benefits, during any period during which the Executive is entitled to any payment or benefit hereunder.