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 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 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 2 contracts

Samples: Employment Agreement (Berkshire Hills Bancorp Inc), Employment Agreement (Brookline 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)

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 (i) any remuneration attributable to any subsequent employment that he may obtain or (ii) any claims the Executive Company may obtain. Any amounts due under this Agreement are in have against the nature of severance payments or liquidated damages, or both, and are not in the nature of a penaltyExecutive.

Appears in 2 contracts

Samples: Executive Employment Agreement (SDC International Inc \De\), Executive Employment Agreement (SDC International Inc \De\)

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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 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 Executive's termination of employment under this Agreementemployment, the Executive he 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, Executive hereunder on account of any remuneration attributable to Executive may obtain from any subsequent employment that the Executive may obtainemployment. Any amounts due under this Agreement Executive hereunder 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 (Donna Karan International 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)

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