Full Settlement. 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 no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest extent permitted by law (but only to the extent consistent with Code Section 409A), all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A).
Appears in 14 contracts
Samples: Executive Retention Employment Agreement (Florida Power & Light Co), Executive Retention Employment Agreement (Florida Power & Light Co), Executive Retention Employment Agreement (Florida Power & Light Co)
Full Settlement. 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 no event shall the Executive 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 and, except as otherwise expressly provided for in Section 7(a)(ii) of this Agreement, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872 (f)(2)(A) of the Internal Revenue Code Section 7872(f)(2)(Aof 1986, as amended (the"Code").
Appears in 8 contracts
Samples: Employment Agreement (Florida Power & Light Co), Employment Agreement (Florida Power & Light Co), Employment Agreement (Florida Power & Light Co)
Full Settlement. The Company's ’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 no event shall the Executive 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 and, except as otherwise expressly explicitly provided for in this Agreementherein, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to paypay as incurred, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal federal rate provided for in Code Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”).
Appears in 7 contracts
Samples: Change of Control Employment Agreement (Mapics Inc), Change of Control Employment Agreement (Mapics Inc), Change of Control Employment Agreement (Mapics Inc)
Full Settlement. The Company's obligation (a) There shall be no right of set off or counterclaim against, or delay in, any payments to make the payments Executive, or to the Executive’s heirs or legal representatives, provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by Agreement, in respect of any set-off, counterclaim, recoupment, defense claim against or debt or other claim, right or action which the Company may have against obligation of the Executive or others. , whether arising hereunder or otherwise.
(b) In no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment. .
(c) The Company agrees to paypay as incurred, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees costs and expenses which (including attorneys’ fees) that the Executive Executive, or the Executive’s heirs or legal representatives, may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement Agreement, or any guarantee of performance thereof (including as a result of any contest by the Executive Executive, or the Executive’s heirs or legal representatives, about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal federal rate provided for in Code Section 7872(f)(2)(A)7872(f)(2) of the Code.
Appears in 5 contracts
Samples: Employment Agreement (Noble Corp), Employment Agreement (Noble Corp), Employment Agreement (Noble Corp)
Full Settlement. The Company(a) There shall be no right of set off or counterclaim against, or delay in, any payments to the Executive, or to the Executive's obligation to make the payments heirs or legal representatives, provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by Agreement, in respect of any set-off, counterclaim, recoupment, defense claim against or debt or other claim, right or action which the Company may have against obligation of the Executive or others. , whether arising hereunder or otherwise.
(b) In no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment. .
(c) The Company agrees to paypay as incurred, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees costs and expenses which (including attorneys' fees) that the Executive Executive, or the Executive's heirs or legal representatives, may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement Agreement, or any guarantee of performance thereof (including as a result of any contest by the Executive Executive, or the Executive's heirs or legal representatives, about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal federal rate provided for in Code Section 7872(f)(2)(A)7872(f)(2) of the Code.
Appears in 5 contracts
Samples: Employment Agreement (Noble Corp), Employment Agreement (Noble Corp), Employment Agreement (Noble Corp)
Full Settlement. The Company's ’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 Employee or others. In no event shall the Executive Employee be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive Employee under any of the provisions of this Agreement andAgreement. In the event that the Employee prevails in a legal action, except as otherwise expressly provided for in this Agreementsuit or proceeding against the Company pursuant to Section 6 hereof, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only law, until the Employee’s death and, to the extent consistent with Code Section 409A)his or her successors in interest, for a period of 10 years thereafter, all legal fees and expenses which the Executive Employee may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any such contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive Employee or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive Employee about the amount of any payment pursuant to Section 3(d) or 3(e) of this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A)7872(f)(2) of the Code.
Appears in 4 contracts
Samples: Employment Agreement (Caseys General Stores Inc), Employment Agreement (Caseys General Stores Inc), Change of Control Agreement (Caseys General Stores Inc)
Full Settlement. 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 no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, such amounts shall not be reduced whether or not the Executive obtains other employment. The Parent or the Company agrees agree to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by Parent, the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the "Code"), if the Executive prevails on a majority of the claims made by him, and disputed by Parent or the Company under the terms of this Agreement.
Appears in 4 contracts
Samples: Employment Agreement (National Australia Bank LTD), Employment Agreement (Homeside International Inc), Employment Agreement (Homeside International Inc)
Full Settlement. The Company's ’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 no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation preparation, trial and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A)) of the Internal Revenue Code.
Appears in 4 contracts
Samples: Employment and Change of Control Agreement (Netsolve Inc), Employment and Change of Control Agreement (Netsolve Inc), Employment and Change of Control Agreement (Netsolve Inc)
Full Settlement. The Company's ’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 defense, or other claim, right or action which that the Company may have against the Executive or others. In no event shall the Executive 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 andAgreement, except as otherwise expressly provided for in this Agreementand subject to the effect of the provisos at the end of Section 2(a)(iii) above, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to paypay as incurred (within 10 days following the Company’s receipt of an invoice from the Executive), to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which that the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus plus, in each case case, interest on any delayed payment at the applicable Federal federal rate provided for in Code Section 7872(f)(2)(A)) of the Code.
Appears in 4 contracts
Samples: Executive Change of Control Agreement (On Assignment Inc), Executive Change of Control Agreement (On Assignment Inc), Executive Change of Control Agreement (On Assignment Inc)
Full Settlement. The Company's payment of the amounts payable under Section 6 hereof upon termination of the Executive's employment shall be in full settlement of all claims of any nature whatsoever that the Executive may have against the Company. 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 defense, or other claim, right right, or action which that the Company may have against the Executive or others. In no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to paypay as incurred, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which that the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A)) of the Code.
Appears in 2 contracts
Samples: Change of Control Employment Agreement (Paxar Corp), Change of Control Employment Agreement (Paxar Corp)
Full Settlement. The Company's ’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 defense, or other claim, right or action which that the Company may have against the Executive or others. In no event shall the Executive 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 andAgreement, except as otherwise expressly provided for in this Agreementand subject to the effect of the provisos at the end of Section 2(a)(iii) above, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to paypay as incurred (within 10 days following the Company’s receipt of an invoice from the Executive), to the fullest full extent permitted by law (but only law, subject to the extent consistent with Code Section 409A)8 below, all legal fees and expenses which that the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus plus, in each case case, interest on any delayed payment at the applicable Federal federal rate provided for in Code Section 7872(f)(2)(A)) of the Code.
Appears in 2 contracts
Samples: Executive Change of Control Agreement (On Assignment Inc), Executive Change of Control Agreement (On Assignment Inc)
Full Settlement. 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 no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the "Code"), if the Executive prevails on any material claim made by Executive, and disputed by the Company under the terms of this Agreement.
Appears in 2 contracts
Samples: Employment Agreement (Nuveen John Company), Employment Agreement (Nuveen John Company)
Full Settlement. 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 no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the "Code"), if the Executive prevails on any material claim made by him, and disputed by the Company under the terms of this Agreement.
Appears in 2 contracts
Samples: Employment Agreement (Cardinal Health Inc), Employment Agreement (Cardinal Health Inc)
Full Settlement. The Company's ’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 no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”), if the Executive prevails on any material claim made by him, and disputed by the Company under the terms of this Agreement.
Appears in 1 contract
Full Settlement. The Company's obligation to make the payments --------------- provided for in this Agreement herein 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 no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive him under any of the provisions of this Agreement and, except as otherwise expressly provided for in this Agreement, hereof and such amounts shall not be reduced whether or not the Executive he obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement hereof or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A)) of the Internal Revenue Code of 1986, as amended (the "Code") to the extent the Executive is successful on the merits or otherwise with respect to such contest.
Appears in 1 contract
Full Settlement. The Company's ’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 no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”), if the Executive prevails on any material claim made by Executive, and disputed by the Company under the terms of this Agreement.
Appears in 1 contract
Samples: Employment Agreement (Nuveen Investments Holdings, Inc.)
Full Settlement. 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-set- off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others. In no event shall the Executive 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 and, except as otherwise expressly provided for in Section 7(a)(ii) of this Agreement, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872 (f)(2)(A) of the Internal Revenue Code Section 7872(f)(2)(Aof 1986, as amended (the"Code").
Appears in 1 contract
Full Settlement. 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 no event shall the Executive 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 and, except as otherwise expressly provided for in Section 7(a)(ii) of this Agreement, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872 (f)(2)(A) of the Internal Revenue Code Section 7872(f)(2)(Aof 1986, as amended (the "Code").
Appears in 1 contract
Full Settlement. 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 no event shall the Executive 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 and, except as otherwise expressly provided for in this Agreement, such amounts shall not be reduced whether or not the Executive obtains other employment. The Company agrees to pay, to the fullest full extent permitted by law (but only to the extent consistent with Code Section 409A)law, all legal fees and expenses which the Executive may reasonably incur at all stages of proceedings, including, without limitation, preparation and appellate review, as a result of any contest (regardless of whether formal legal proceedings are ever commenced and regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable Federal rate provided for in Code Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the "Code"), if the Executive prevails on any material claim made by him, and disputed by the Company under the terms of this Agreement.
Appears in 1 contract
Samples: Employment Agreement (Cit Group Inc)