Mitigation; Exclusivity of Benefits. (a) Unless the Executive's employment is terminated for Disability, Retirement, death or pursuant to Section 5(c)(ii) hereof, the Executive shall be required to mitigate the amount of any payments and benefits hereunder by seeking other employment or otherwise. In the event that the Executive obtains other employment during the period that the Executive is receiving payments pursuant to Section 5(c)(i)(A) hereof, the cash amounts to be paid to the Executive pursuant thereto shall be reduced by any cash compensation received by the Executive as a result of employment by another employer after the Date of Termination.
Appears in 8 contracts
Samples: Amended Agreement (Commonwealth Bancorp Inc), Agreement (Commonwealth Bancorp Inc), 8 Agreement (Commonwealth Bancorp Inc)
Mitigation; Exclusivity of Benefits. (a) Unless the The Executive's , unless his employment is terminated for Disability, Retirement, death death, a Change in Control of the Corporation or pursuant to Section 5(c)(ii5(d)(ii) hereof, the Executive shall be required to mitigate the amount of any payments and benefits hereunder by seeking other employment or otherwise. In the event that the Executive obtains other employment during the period that the Executive is receiving payments pursuant to Section 5(c)(i)(A5(d)(i) hereof, the cash amounts to be paid to the Executive pursuant thereto shall be reduced by any cash compensation received by the Executive as a result of employment by another employer after the Date of Termination, unless the termination was in connection with a Change in Control of the Corporation.
Appears in 7 contracts
Samples: Agreement (Commonwealth Bancorp Inc), Agreement (Commonwealth Bancorp Inc), Agreement (Commonwealth Bancorp Inc)
Mitigation; Exclusivity of Benefits. (a) Unless the Executive's employment is terminated for Disability, Retirement, death or pursuant to Section 5(c)(ii) hereof, the Executive executive shall be required to mitigate the amount of any payments and benefits hereunder by seeking other employment or otherwise. In the event that the Executive obtains other employment during the period that the Executive is receiving payments pursuant to Section 5(c)(i)(A) hereof, the cash amounts to be paid to the Executive pursuant thereto shall be reduced by any cash compensation received by the Executive as a result of employment by another employer after the Date of Termination.
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Mitigation; Exclusivity of Benefits. (a) Unless the Executive's employment is terminated for Disability, Retirement, death or pursuant to Section 5(c)(ii) hereof, the Executive shall be required to mitigate the amount of any payments and benefits hereunder by seeking other employment or otherwise. In the event that the Executive obtains other employment during the period that the Executive is receiving payments pursuant to Section 5(c)(i)(A) hereof, the cash amounts to be paid to the Executive pursuant thereto shall be reduced by any cash compensation received by the Executive as a result of employment by another employer after the Date of Termination.
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Mitigation; Exclusivity of Benefits. (a) Unless the Executive's Executive employment is terminated for Disability, Retirement, death or pursuant to Section 5(c)(ii) hereof, the Executive shall be required to mitigate the amount of any payments and benefits hereunder by seeking other employment or otherwise. In the event that the Executive obtains other employment during the period that the Executive is receiving payments pursuant to Section 5(c)(i)(A) hereof, the cash amounts to be paid to the Executive pursuant thereto shall be reduced by any cash compensation received by the Executive as a result of employment by another employer after the Date of Termination.
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