Common use of Mitigation; Offset Clause in Contracts

Mitigation; Offset. The Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking employment or otherwise; provided, however, that for each dollar of compensation earned by the Executive from another employer, a corresponding dollar amount of any sum otherwise payable to, or for the benefit of, the Executive under Section 6 hereof shall be reduced by twenty percent (20%). Application of this Section shall be subject to the following rules:

Mitigation; Offset. The Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking employment or otherwise; provided, however, that for each dollar of compensation earned by the Executive from another employer, a corresponding dollar amount of any sum otherwise payable to, or for the benefit of, the Executive under Section 6 hereof shall be reduced by twenty fifty percent (2050%). Application of this Section shall be subject to the following rules: