No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible for the Executive to find reasonably comparable employment following termination of Executive’s employment by the Company and that the non-solicitation covenant contained in Section 6 may further limit the employment opportunities for the Executive. Accordingly, the payment of the compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable, and the Executive will not be required to mitigate the amount of any payment provided for this Agreement by seeking other employment or otherwise, nor will any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c).
Appears in 26 contracts
Samples: Change in Control Severance Agreement (Farmer Brothers Co), Change in Control Severance Agreement (Farmer Brothers Co), Change in Control Severance Agreement (Farmer Brothers Co)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible for the an Executive to find reasonably comparable employment following his termination of Executive’s employment by with the Company and that the non-solicitation covenant contained in competition agreement required by Section 6 may 10 will further limit the employment opportunities for the an Executive. Accordingly, the payment provision of the compensation and benefits Severance Compensation by the Company to the an Executive in accordance with the terms of this Agreement the Plan is hereby acknowledged by the Company to be reasonable, and the an Executive will not be required to mitigate the amount of any payment provided for this Agreement in the Plan by seeking other employment or otherwise, nor will any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the an Executive hereunder or otherwise, except as expressly provided in the first sentence Section 1(d) of Section 4(c).Exhibit B.
Appears in 9 contracts
Samples: Employment Agreement (Cooper-Standard Holdings Inc.), Employment Agreement (Cooper-Standard Holdings Inc.), Employment Agreement (Cooper-Standard Holdings Inc.)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult difficult, and may be impossible impossible, for the Executive to find reasonably comparable employment following termination of Executive’s employment by the Company Termination Date and that the non-solicitation noncompetition covenant contained in Section 6 may 7 hereof will further limit the employment opportunities for the Executive. Accordingly, the parties hereto expressly agree that the payment of the severance compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to will be reasonableliquidated damages, and that the Executive will shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will shall any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c)Subsection 5(a)(ii) hereof.
Appears in 6 contracts
Samples: Change in Control Agreement (Consolidated Graphics Inc /Tx/), Change in Control Agreement (Consolidated Graphics Inc /Tx/), Change in Control Agreement (Consolidated Graphics Inc /Tx/)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult difficult, and may be impossible impossible, for the Executive to find reasonably comparable employment following termination of Executive’s employment by the Company Termination Date and that the non-solicitation noncompetition covenant contained in Section 6 may 7 hereof will further limit the employment opportunities for the Executive. Accordingly, the parties hereto expressly agree that the payment of the severance compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to will be reasonableliquidated damages, and that the Executive will shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will shall any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c)5(a)(iii) hereof.
Appears in 6 contracts
Samples: Change in Control Agreement (Southwest Bancorp Inc /Tx/), Change in Control Agreement (Southwest Bancorp of Texas Inc), Change in Control Agreement (Southwest Bancorp of Texas Inc)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible for the Executive to find reasonably comparable employment following termination of Executive’s employment by the Company Termination Date and that the non-solicitation competition covenant contained in Section 6 may 8 will further limit the employment opportunities for the Executive. Accordingly, the payment of the severance compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable, and the Executive will not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first penultimate sentence of Section 4(c).Paragraph 2 set forth on Annex A.
Appears in 3 contracts
Samples: Severance Agreement (CTS Corp), Severance Agreement (CTS Corp), Severance Agreement (CTS Corp)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible for the Executive to find reasonably comparable employment following termination of the Executive’s employment by the Company Separation from Service and that the non-solicitation competition covenant contained in Section 6 may 8 will further limit the employment opportunities for the Executive. Accordingly, the payment of the severance compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable, and the Executive will not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c).Paragraph 2 set forth on Annex A.
Appears in 2 contracts
Samples: Severance Agreement (CTS Corp), Severance Agreement (CTS Corp)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult difficult, and may be impossible impossible, for the Executive to find reasonably comparable employment following termination of Executive’s employment by the Company Termination Date and that the non-solicitation noncompetition covenant contained in Section 6 may 7 hereof will further limit the employment opportunities for the Executive. Accordingly, the parties hereto expressly agree that the payment of the severance compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to will be reasonableliquidated damages, and that the Executive will shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will shall any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c)Subsection 5(a)(iii) hereof.
Appears in 1 contract
Samples: Employment Agreement (Merchants Bancshares Inc /Tx/)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult difficult, and may be impossible impossible, for the Executive to find reasonably comparable employment following his termination of Executive’s employment by the Company and that the non-solicitation covenant restrictive covenants contained in Section 6 may 5 hereof will further limit the employment opportunities for the Executive. Accordingly, the parties hereto expressly agree that the payment of the severance compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to Section 2(b) above will be reasonableliquidated damages, and the that Executive will shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will shall any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c).
Appears in 1 contract
Samples: Provide Severance Pay (Tandy Brands Accessories Inc)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible for the Executive to find reasonably comparable employment following termination of Executive’s 's employment by the Company and that the non-solicitation covenant contained in Section 6 may further limit the employment opportunities for the Executive. Accordingly, the payment of the compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable, and the Executive will not be required to mitigate the amount of any payment provided for this Agreement by seeking other employment or otherwise, nor will any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c).
Appears in 1 contract
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult difficult, and may be impossible impossible, for the Executive to find reasonably comparable employment following termination of Executive’s employment by the Company Termination Date and that the non-solicitation competition covenant contained in Section 6 may 7 hereof will further limit the employment opportunities for the Executive. Accordingly, the parties hereto expressly agree that the payment of the severance compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to will be reasonableliquidated damages, and that the Executive will shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will shall any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c)5(a)(iii) hereof.
Appears in 1 contract
Samples: Change in Control Agreement (Southwest Bancorp of Texas Inc)
No Mitigation Obligation. The Company hereby acknowledges that it will be difficult difficult, and may be impossible impossible, for the Executive to find reasonably comparable employment following termination of Executive’s employment by the Company Termination Date and that the non-solicitation covenant restrictive covenants contained in Section 6 may 7 hereof will further limit the employment opportunities for the Executive. Accordingly, the parties hereto expressly agree that the payment of the severance compensation and benefits by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to will be reasonableliquidated damages, and that the Executive will shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor will shall any profits, income, earnings or other benefits from any source whatsoever create any mitigation, offset, reduction or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the first sentence of Section 4(c).
Appears in 1 contract
Samples: Change of Control Agreement (Tandy Brands Accessories Inc)