Full Settlement: No Mitigation: No Offset Sample Clauses
The 'Full Settlement: No Mitigation: No Offset' clause establishes that, upon settlement of a claim or dispute, the paying party must fulfill the agreed payment in full without any reduction for mitigation efforts or offsets. In practice, this means that the recipient is not required to take steps to minimize their losses, nor can the paying party deduct amounts for any benefits the recipient may have received from other sources. This clause ensures that the settlement amount is final and not subject to adjustment, providing certainty and finality for both parties.
Full Settlement: No Mitigation: No Offset. The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others. In the event of any termination of employment, the Executive shall be under no obligation to seek other employment, and amounts due the Executive under this Agreement shall not be offset by any remuneration attributable to any subsequent employment that he may maintain other than substantially comparable Welfare Benefits provided by a new employer.
Full Settlement: No Mitigation: No Offset. The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others. Except as otherwise provided in Section 6(e)(iv), in the event of any termination of employment, the Executive shall be under no obligation to seek other employment, and amounts due the Executive under this Agreement shall not be offset by any remuneration attributable to any subsequent employment that he may maintain other than substantially comparable welfare benefits provided by a new employer.