Common use of Full Settlement; No Obligation to Seek Other Employment; Legal Expenses Clause in Contracts

Full Settlement; No Obligation to Seek Other Employment; Legal Expenses. The Company's obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement shall not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action the Company may have against the Executive or others. The Executive shall not be obligated to seek other employment or take any action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement. In the event the Executive obtains a recovery or other relief against the Company, the Company agrees to pay, upon written demand by the Executive, all legal fees and expenses the Executive may reasonably incur as a result of any dispute or contest by or with the Company or others regarding the validity or enforceability of, or liability under, any provision of this Agreement; if the Executive does not obtain such recovery or relief against the Company, the Company shall pay one-half of such fees and expenses. In any such action brought by the Executive for damages or to enforce any provisions of this Agreement, the Executive shall be entitled to seek both legal and equitable relief and remedies, including, without limitation, specific performance of the Company's obligations under this Agreement, in the Executive's sole discretion.

Appears in 2 contracts

Samples: Severance and Change (Eastgroup Properties Inc), Severance and Change in Control Agreement (Eastgroup Properties Inc)

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Full Settlement; No Obligation to Seek Other Employment; Legal Expenses. The Company's ’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement shall not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action that the Company may have against the Executive or others, except as otherwise specified in this Agreement. The Executive shall not be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement. In the event the Executive obtains a recovery or other relief against the Company, the The Company agrees to pay, upon written demand by the Executive, all legal fees and expenses the Executive may reasonably incur as a result of any dispute or contest (regardless of outcome) by or with the Company or others regarding the validity or enforceability of, or liability under, any provision of this Agreement; if , except with respect to the Executive does not obtain such recovery provisions set forth in Sections 1 and 4 and any provision in this Agreement defining any term or relief against the Company, the Company shall pay one-half of such fees terms referenced in Sections 1 and expenses4. In any such action brought by the Executive for damages or to enforce any provisions of this Agreement, the Executive he shall be entitled to seek both legal and equitable relief and remedies, including, without limitation, specific performance of the Company's ’s obligations under this Agreement, in the Executive's his sole discretion.

Appears in 2 contracts

Samples: Control and Executive Employment Agreement (Amerivest Properties Inc), Control and Term Employment Agreement (Amerivest Properties Inc)

Full Settlement; No Obligation to Seek Other Employment; Legal Expenses. The Company's ’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement shall not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action that the Company may have against the Executive or others, except as otherwise specified in this Agreement. The Executive shall not be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement. In the event the Executive obtains a recovery or other relief against the Company, the The Company agrees to pay, upon written demand by the Executive, all legal fees and expenses the Executive may reasonably incur as a result of any dispute or contest (regardless of outcome) by or with the Company or others regarding the validity or enforceability of, or liability under, any provision of this Agreement; if , except with respect to the Executive does not obtain such recovery provisions set forth in Sections 1 and 4 and any provision in this Agreement defining any term or relief against the Company, the Company shall pay one-half of such fees terms referenced in Sections 1 and expenses4. In any such action brought by the Executive for damages or to enforce any provisions of this Agreement, the Executive she shall be entitled to seek both legal and equitable relief and remedies, including, without limitation, specific performance of the Company's ’s obligations under this Agreement, in the Executive's her sole discretion.

Appears in 1 contract

Samples: Control and Term Employment Agreement (Amerivest Properties Inc)

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Full Settlement; No Obligation to Seek Other Employment; Legal Expenses. The Company's obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement shall not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action the Company may have against the Executive or others. The Executive shall not be obligated to seek other employment or take any action other than as provided in Section 4(b) by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement. In the event the Executive obtains a recovery or other relief against the Company, the Company agrees to pay, upon written demand by the Executive, all legal fees and expenses the Executive may reasonably incur as a result of any dispute or contest by or with the Company or others regarding the validity or enforceability of, or liability under, any provision of this Agreement; if the Executive does not obtain such recovery or relief against the Company, the Company shall pay one-half of such fees and expenses. In any such action brought by the Executive for damages or to enforce any provisions of this Agreement, the Executive shall be entitled to seek both legal and equitable relief and remedies, including, without limitation, specific performance of the Company's obligations under this Agreement, in the Executive's sole discretion.

Appears in 1 contract

Samples: Change in Control Agreement (Eastgroup Properties Inc)

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