Common use of No Increase in Other Benefits; No Other Severance Pay Clause in Contracts

No Increase in Other Benefits; No Other Severance Pay. If Executive’s employment terminates under the circumstances described in § 3.1 or § 3.6, Executive waives Executive’s right, if any, to have any payment made under this § 3 taken into account to increase the benefits otherwise payable to, or on behalf of, Executive under any employee benefit plan, policy or program, whether qualified or nonqualified, maintained by SunTrust or a SunTrust Affiliate (e.g., there will be no increase in Executive’s qualified pension benefit or life insurance because of compensation Executive receives under this Agreement) and, further, Executive acknowledges he has no right to any payment of severance pay and severance benefits under the SunTrust Banks, Inc. Severance Pay Plan or any other severance pay plan, policy or program maintained by SunTrust or a SunTrust Affiliate or under any individual severance agreement or employment agreement, subject to the condition that SunTrust not be relieved of any of its obligations to Executive under this § 3 pursuant to § 3.7 or § 3.8.