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. The Company agrees to pay 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, and the Executive agrees that, if the Executive does not obtain a recovery or other relief from the Company as a result of such dispute or contest, the Executive shall repay to the Company 100 percent of the amount paid by the Company toward the Executive’s legal fees and expenses. The Company shall pay or reimburse the Executive for such legal fees and expenses not later than December 31 of the calendar year following the calendar year in which the Executive incurred such legal fees and expenses, provided that the Company’s obligation shall be contingent upon the Executive’s provision to the Company, at least 30 days before such date, of

Appears in 3 contracts

Samples: Severance and Change in Control Agreement (Eastgroup Properties Inc), Severance and Change in Control Agreement (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 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. The Company agrees to pay 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, and the Executive agrees that, if the Executive does not obtain a recovery or other relief from the Company as a result of such dispute or contest, the Executive shall repay to the Company 100 percent of the amount paid by the Company toward the Executive’s 's legal fees and expenses. The Company shall pay or reimburse the Executive for such legal fees and expenses not later than December 31 of the calendar year following the calendar year in which the Executive incurred such legal fees and expenses, provided that the Company’s 's obligation shall be contingent upon the Executive’s 's provision to the Company, at least 30 days before such date, of

Appears in 2 contracts

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

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