Common use of Mitigation; Exclusivity of Benefits Clause in Contracts

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(ii) above. (b) The specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Executive upon a termination of employment with the Bank pursuant to employee benefit plans of the Bank or otherwise.

Appears in 3 contracts

Samples: Employment Agreement (State Investors Bancorp, Inc.), Employment Agreement (State Investors Bancorp, Inc.), Employment Agreement (State Investors Bancorp, Inc.)

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Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(ii) above. (b) The specific arrangements referred to herein are not intended to exclude any other vested benefits which may be available to the Executive upon a termination of employment with the Bank Corporation pursuant to employee benefit plans of the Corporation or the Bank or otherwise.

Appears in 2 contracts

Samples: Employment Agreement (Home Federal Bancorp, Inc. Of Louisiana), Employment Agreement (Home Federal Bancorp, Inc. Of Louisiana)

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(ii5(d)(2) above. (b) The specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Executive upon a termination of employment with the Bank Employer pursuant to employee benefit plans of the Bank Employer or otherwise.

Appears in 2 contracts

Samples: Employment Agreement (Home Bancorp, Inc.), Employment Agreement (Home Bancorp, Inc.)

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(ii) above. (b) The specific arrangements referred to herein are not intended to exclude any other vested benefits which may be available to the Executive upon a termination of employment with the Bank pursuant to employee benefit plans of the Bank or the Corporation or otherwise.

Appears in 2 contracts

Samples: Employment Agreement (Home Federal Bancorp, Inc. Of Louisiana), Employment Agreement (Home Federal Bancorp, Inc. Of Louisiana)

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor nor, except as otherwise provided herein, shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(ii) above. (b) The specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Executive upon a termination of employment with the Bank pursuant to employee benefit benefits plans of the Bank or the Corporation or otherwise.

Appears in 2 contracts

Samples: Change in Control Severance Agreement (Laurel Capital Group Inc), Change in Control Severance Agreement (Laurel Capital Group Inc)

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(iiSections 5(d)(2) and 5(e)(2) above. (b) The specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Executive upon a termination of employment with the Bank pursuant to employee benefit plans of the Bank or otherwise.

Appears in 2 contracts

Samples: Employment Agreement (Minden Bancorp, Inc.), Employment Agreement (Minden Bancorp, Inc.)

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(ii5(d)(B) above. (b) The specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Executive upon a termination of employment with the Bank Employer pursuant to employee benefit plans of the Bank Employer or otherwise.

Appears in 1 contract

Samples: Employment Agreement (Louisiana Bancorp Inc)

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Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(iiSections 5(e)(2) and 5(f)(2) above. (b) The specific arrangements referred to herein are not intended to exclude any other vested benefits which may be available to the Executive upon a termination of employment with the Bank pursuant to employee benefit plans of the Bank or the Corporation or otherwise.

Appears in 1 contract

Samples: Employment Agreement (Home Bancorp, Inc.)

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, otherwise (except as set forth provided in Section 5(d)(ii5(c)(B) abovehereof). (b) The specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Executive upon a termination of employment with the Bank Employer pursuant to employee benefit plans of the Bank Employer or otherwise.

Appears in 1 contract

Samples: Employment Agreement (Willow Grove Bancorp Inc)

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(ii) above. (b) The specific arrangements referred to herein are not intended to exclude any other vested benefits which may be available to the Executive upon a termination of employment with the Bank Employers pursuant to employee benefit plans of the Bank or the Corporation or otherwise.

Appears in 1 contract

Samples: Employment Agreement (Home Federal Bancorp, Inc. Of Louisiana)

Mitigation; Exclusivity of Benefits. (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(ii2(a)(ii) above. (b) The specific arrangements referred to herein are not intended to exclude any other vested benefits which may be available to the Executive upon a termination of employment with the Bank pursuant to employee benefit plans of the Bank or the Corporation or otherwise.

Appears in 1 contract

Samples: Change in Control Agreement (Home Federal Bancorp, Inc. Of Louisiana)

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