Common use of Mitigation and Offset Clause in Contracts

Mitigation and Offset. Executive shall not be required to seek or accept other employment, or otherwise to mitigate damages, as a condition to the receipt of payments and benefits pursuant to this Section 3, and such payments and benefits shall not be offset by any compensation or other amounts received from any other source, provided that to the extent Executive’s COBRA coverage is terminated by reason of Executive’s coverage under another medical plan (or for any other reason), the Company’s obligation to pay the amounts described in Section 3.3(b) shall terminate. Notwithstanding the foregoing, the Company may offset any amount payable to Executive by any amount owed by Executive to the Company or any of its affiliates, to the extent permitted by Section 409A of the Code.