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)
Liquidated Damages; No Duty to Mitigate Damages. The amounts payable pursuant to Section 5.2 Sections 6.2 and 6.3 shall be deemed liquidated damages for the early termination of this Agreement and shall be paid to the Employee Executive regardless of any income the Employee Executive may receive from any other employer, and the Employee Executive shall have no duty of any kind to seek employment from any other employer during the balance of the Term.
Appears in 2 contracts
Samples: Employment Agreement (Oxford Ventures Inc), Consulting Agreement (Carbon Credits International, Inc.)
Liquidated Damages; No Duty to Mitigate Damages. The amounts payable pursuant to Section 5.2 4.2 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. The Employee further agrees that the amounts payable pursuant to Section 4.2 after the Termination Date may be withheld by the Company upon a material breach by the Employee of his obligations under Section 5 (Agreement Not to Compete) or Section 6 (Agreement Not to Solicit).
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