Common use of No Mitigation; No Offset Clause in Contracts

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 18 contracts

Samples: Employment Agreement (Provident Bancorp, Inc. /MD/), Employment Agreement (Provident Bancorp, Inc. /MD/), Employment Agreement (Provident Bancorp, Inc. /MD/)

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No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 14 contracts

Samples: Employment Agreement (Cellectar Biosciences, Inc.), Employment Agreement (Cellectar Biosciences, Inc.), Employment Agreement (Community Financial Corp /Md/)

No Mitigation; No Offset. In the event of any termination of his employment under this Agreementhereunder, the Executive shall not be under no obligation required to seek mitigate the amount of any payment provided for in this Agreement by seeking other employment or to mitigate damages, otherwise and there no such payment shall be no offset against any amounts due to him under this Agreement for any reason, including, without limitation, on account or reduced by the amount of any remuneration attributable compensation provided to the Executive in any subsequent employment that the Executive may obtain. Any amounts due under employment, except as provided in Section 9(e) of this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penaltyAgreement.

Appears in 11 contracts

Samples: Employment Agreement (Empire Resorts Inc), Employment Agreement (Empire Resorts Inc), Employment Agreement (Empire Resorts Inc)

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall will be no offset against any amounts due to him the Executive under this Agreement for any reason, including, including without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 5 contracts

Samples: Employment Agreement (T-Mobile US, Inc.), Employment Agreement (T-Mobile US, Inc.), Employment Agreement

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any The amounts due under this Agreement are payable hereunder shall not be subject to setoff, counterclaim, recoupment, defense or other right which the Company may have against the Executive or others, except as specifically set forth in the nature of severance payments or liquidated damagesSections 5(f)(ii), or both10, and are not in 15 or upon obtaining by the nature Company of a penaltyfinal unappealable judgment against the Executive.

Appears in 2 contracts

Samples: Severance Agreement (Ryder System Inc), Severance Agreement (Ryder System Inc)

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him her under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 2 contracts

Samples: Employment Agreement (Provident Bancorp, Inc. /MD/), Employment Agreement (Provident Bancorp, Inc.)

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 2 contracts

Samples: Employment Agreement (Atlantic Coastal Acquisition Corp. II), Employment Agreement (Abpro Corp)

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No Mitigation; No Offset. In the event of any termination of the Executive’s employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts amount due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 1 contract

Samples: Employment Agreement (Brookline Bancorp Inc)

No Mitigation; No Offset. In the event of any termination of the Executive's employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damagesemployment, and there shall be no offset against any amounts due to him under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under The Company's obligation to make the payments provided for in this Agreement are in and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the nature of severance payments Company or liquidated damages, any Affiliate may have against the Executive or both, and are not in the nature of a penaltyothers.

Appears in 1 contract

Samples: Employment Agreement (Technical Olympic Usa Inc)

No Mitigation; No Offset. In the event of any termination of his employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damagesemployment, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, or otherwise on account of any remuneration attributable to any subsequent employment that he may obtain or any claim that the Executive Company or any Affiliate may obtainhave against him. Any amounts due under this Agreement Section 8 are in considered to be reasonable by the nature of severance payments or liquidated damages, or both, Company and are not in the nature of a penalty.

Appears in 1 contract

Samples: Employment Agreement (Axis Capital Holdings LTD)

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