Common use of No Mitigation Obligation Clause in Contracts

No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible (a) for Executive to find reasonably comparable employment following the date of termination, and (b) to measure the amount of damages which Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination compensation by the Company to Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, and 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 Executive hereunder or otherwise.

Appears in 9 contracts

Samples: Employment Agreement (U S Restaurant Properties Inc), Employment Agreement (Walden Residential Properties Inc), Employment Agreement (U S Restaurant Properties Inc)

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No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible (ai) for Executive to find reasonably comparable employment following the date of termination, termination and (bii) to measure the amount of damages which Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination compensation by the Company to Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, and 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 Executive hereunder or otherwise.

Appears in 5 contracts

Samples: Employment Agreement (Infocure Corp), Employment Agreement (Infocure Corp), Employment Agreement (Infocure Corp)

No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible (ai) for the Executive to find reasonably comparable employment following the date of terminationTermination Date, and (bii) to measure the amount of damages which the Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination severance compensation by the Company Surviving Entity to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, 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.

Appears in 4 contracts

Samples: Severance Agreement (National City Corp), Severance Agreement (National City Corp), Severance Agreement (National City Corp)

No Mitigation Obligation. The Company hereby acknowledges that it will ------------------------ be difficult and may be impossible (a) for Executive to find reasonably comparable employment following the date of termination, termination and (b) to measure the amount of damages which Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination compensation by the Company to Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, and 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 Executive hereunder or otherwise.

Appears in 3 contracts

Samples: Employment Agreement (Fairfield Communities Inc), Employment Agreement (Fairfield Communities Inc), Employment Agreement (Fairfield Communities Inc)

No Mitigation Obligation. The Company hereby acknowledges that it ------------------------- will be difficult and may be impossible (a) for Executive to find reasonably comparable employment following the date of termination, termination and (b) to measure the amount of damages which Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination compensation by the Company to Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, and 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 Executive hereunder or otherwise.

Appears in 2 contracts

Samples: Employment Agreement (Fairfield Communities Inc), Employment Agreement (Fairfield Communities Inc)

No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible (a) for the Executive to find reasonably comparable employment following the date of termination, Termination Date and (b) to measure the amount of damages which the Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination severance compensation by to the Company to Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, 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 earnings, or other benefits from any source whatsoever create any mitigation, offset, reduction reduction, or any other obligation on the part of the Executive hereunder or otherwise, except as expressly provided in the last sentence of Section 4(a).

Appears in 2 contracts

Samples: Severance Agreement (Federated Department Stores Inc /De/), Severance Agreement (Federated Department Stores Inc /De/)

No Mitigation Obligation. The Company hereby acknowledges that it will ------------------------ be difficult and may be impossible (ai) for Executive to find reasonably comparable employment following the date of termination, termination and (bii) to measure the amount of damages which Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination compensation by the Company to Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, and 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 Executive hereunder or otherwise.

Appears in 2 contracts

Samples: Employment Agreement (Infocure Corp), Employment Agreement (Infocure Corp)

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No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible (ai) for Executive Employee to find reasonably comparable employment following the date termination of termination, her Executive Employment and (bii) to measure the amount of damages which Executive Employee may suffer as a result of termination of employment hereunderher Executive Employment. Accordingly, the payment of the termination compensation by the Company to Executive in accordance with the terms of Severance Payment provided under this Agreement is hereby acknowledged by the Company to be reasonable and will to be liquidated damages, and Executive Employee will not be required to mitigate the amount of any payment provided for in this Agreement the Severance Payment 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 Executive hereunder or otherwiseEmployee under this Agreement.

Appears in 1 contract

Samples: Executive Severance Agreement (Central Louisiana Electric Co Inc)

No Mitigation Obligation. The Company hereby acknowledges that it will be difficult and may be impossible (a) for the Executive to find reasonably comparable employment 8 -8- following the date of terminationTermination Date, and (b) to measure the amount of damages which Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination severance compensation by the Company to the Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, 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 last sentence of Section 4(a)(ii).

Appears in 1 contract

Samples: Severance Agreement (Dexter Corp)

No Mitigation Obligation. The Company hereby acknowledges that it ------------------------ will be difficult and may be impossible (ai) for Executive to find reasonably comparable employment following the date of termination, termination and (bii) to measure the amount of damages which Executive may suffer as a result of termination of employment hereunder. Accordingly, the payment of the termination compensation by the Company to Executive in accordance with the terms of this Agreement is hereby acknowledged by the Company to be reasonable and will be liquidated damages, and 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 Executive hereunder or otherwise.

Appears in 1 contract

Samples: Employment Agreement (Infocure Corp)

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