Common use of General Termination Provisions Clause in Contracts

General Termination Provisions. (a) Upon any termination of this Agreement for any reason, the Employee shall at once deliver or caused to be delivered to the Employer all books, documents, effects, money, securities or other property belonging to the Employer or for which the Employer is liable to others, which are in the possession, charge, control or custody of the Employee. (b) All amounts referred to in this Agreement, specifically including the Employer's payment obligations pursuant to this Article 4, shall constitute when due a debt owed by the Employer to the Employee. The Employee shall not be required to mitigate damages by seeking other employment or otherwise, nor shall the amount provided for under this Agreement be reduced in any respect in the event that the Employee shall secure alternative employment, or not reasonably pursue alternative employment, following the termination of the Employee's employment with the Employer. Notwithstanding the foregoing, should the Employee replace any life, health or accident plan, at an equivalent level, upon obtaining alternate employment or otherwise, the Employer shall not be required to continue such benefits. (c) As a condition to any payment pursuant to this Article 4, the Employee agrees to deliver to the Employer at the time of payment a full and final release from all actions or claims, such release to be in a form reasonably satisfactory to the Employer and to be for the benefit of the Employer, its affiliates, directors, officers and employees.

General Termination Provisions. (a) Upon any termination of this Agreement for any reason, the Employee shall at once deliver or caused cause to be delivered to the Employer all books, documents, effects, money, securities or other property belonging to the Employer or for which the Employer is liable to others, which are in the possession, charge, control or custody of the Employee. (b) All amounts referred to in this Agreement, specifically including the Employer's payment obligations pursuant to this Article 4, shall constitute when due a debt owed owned by the Employer to the Employee. The Employee shall not be required to mitigate damages by seeking other employment or otherwise, nor shall the amount provided for under this Agreement be reduced in any respect in the event that the Employee shall secure alternative employment, or not reasonably pursue alternative employment, following the termination of the Employee's employment with the Employer. Notwithstanding the foregoing, should the Employee replace any life, health or accident plan, at an equivalent level, upon obtaining alternate employment or otherwise, the Employer shall not be required to continue such benefits. (c) As a condition to any payment pursuant to this Article 4, the Employee agrees to deliver to the Employer at the time of payment a full and final release from all actions or claims, such release to be in a form reasonably satisfactory to the Employer and to be for the benefit of the Employer, its affiliates, directors, officers and employees.