Common use of Liquidated Damages; No Duty to Mitigate Damages Clause in Contracts

Liquidated Damages; No Duty to Mitigate Damages. The amounts payable pursuant to Section 5.2 shall be deemed liquidated damages for the early termination of this Agreement and shall be paid to the Employee regardless of any income the Employee may receive from any other employer, and the Employee shall have no duty of any kind to seek employment from any other employer during the balance of the Term.

Appears in 4 contracts

Samples: Executive Employment Agreement (Healthdrive Corp), Executive Employment Agreement (Healthdrive Corp), Executive Employment Agreement (Healthdrive Corp)

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Liquidated Damages; No Duty to Mitigate Damages. The amounts payable pursuant to Section 5.2 5(b) shall be deemed liquidated damages for the early termination of this Agreement and shall be paid to the Employee regardless of any income the Employee may receive from any other employer, and the Employee shall have no duty of any kind to seek employment from any other employer during until the balance of the TermTermination Date.

Appears in 1 contract

Samples: Employment Agreement (Aspen Technology Inc /De/)

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