Common use of No Duplication of Severance Benefits Clause in Contracts

No Duplication of Severance Benefits. (a) If the Executive becomes entitled to Change in Control Severance Benefits, the Severance Benefits provided for under Section 4.1 shall be in lieu of the benefits provided to the Executive under Section 4.2. Similarly, if the Executive becomes entitled to General Severance Benefits, the Severance Benefits provided under Section 4.2 shall be in lieu of the benefits provided to the Executive under Section 4.1. (b) Notwithstanding anything in this Section 3.5 to the contrary, if the Executive incurs a Qualifying Termination described in Section 3.1(b), the Executive will be entitled to the Change in Control Severance Benefits provided for under Section 4.1, in lieu of the General Severance Benefits provided under Section 4.2.

Appears in 3 contracts

Samples: Executive Severance Plan, Executive Severance Plan (Reynolds American Inc), Executive Severance Plan (Reynolds American Inc)

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No Duplication of Severance Benefits. (a) If the Executive becomes entitled to Change in Change-in-Control Severance Benefits, the Severance Benefits benefits provided for under Section 4.1 3.2 hereunder shall be in lieu of the all other benefits provided to the Executive under the provisions of this Agreement including, but not limited to, the benefits under Section 4.23.3. SimilarlyLikewise, if the Executive becomes entitled to General Severance Benefits, the Severance Benefits benefits provided under Section 4.2 3.3 hereunder shall be in lieu of the all other benefits provided to the Executive under the provisions of this Agreement including, but not limited to, the benefits under Section 4.1. (b) Notwithstanding anything in this Section 3.5 to the contrary, if 3.2. If the Executive incurs a Qualifying Termination described in Section 3.1(b), the Executive will be entitled to the Change in receives either Change-in-Control Severance Benefits provided for under Section 4.1, in lieu of the 3.2 or General Severance Benefits provided under Section 4.23.3, any other severance benefits received by employees not covered by this Agreement to which the Executive is entitled will be subtracted from the Severance Benefits paid pursuant to this Agreement.

Appears in 2 contracts

Samples: Executive Severance Agreement (Consumers Energy Co), Executive Severance Agreement (CMS Energy Corp)

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