No Obligation to Mitigate Damages; No Effect on Other Contractual Rights. (a) The Employee shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor shall the amount of payment provided for under this Agreement be reduced by any compensation earned by the Employee as the result of employment by another employer after the Date of Termination, or otherwise. The amounts payable to Employee under Section 4 hereof shall not be treated as damages but as severance compensation to which Employee is entitled by reason of termination of his employment in the circumstances contemplated by this Agreement.
Appears in 5 contracts
Samples: Employment Agreement (Assisted Living Concepts Inc), Employment Agreement (Assisted Living Concepts Inc), Employment Agreement (Assisted Living Concepts Inc)
No Obligation to Mitigate Damages; No Effect on Other Contractual Rights. (a) The Employee shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor shall the amount of payment provided for under this Agreement be reduced by any compensation earned by the Employee as the result of employment by another employer after the Date of Terminationhis termination date, or otherwise. The amounts payable to Employee under Section 4 1 hereof shall not be treated as damages but as severance compensation to which the Employee is entitled by reason of termination of his Employee’s employment in the circumstances contemplated by this Agreement.
Appears in 4 contracts
Samples: Change in Control Agreement (Community Bankers Trust CORP), Control Agreement (Transcommunity Financial Corp), Change in Control Agreement (Transcommunity Financial Corp)
No Obligation to Mitigate Damages; No Effect on Other Contractual Rights. (a) The Employee shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor shall the amount of payment provided for under this Agreement be reduced by any compensation earned by the Employee as the result of employment by another employer after the Date of Termination, or otherwise. The amounts payable to Employee under Section 4 hereof shall not be treated as damages but as severance compensation to which Employee is entitled by reason of termination of his her employment in the circumstances contemplated by this Agreement.
Appears in 3 contracts
Samples: Employment Agreement (Assisted Living Concepts Inc), Employment Agreement (Assisted Living Concepts Inc), Employment Agreement (Assisted Living Concepts Inc)
No Obligation to Mitigate Damages; No Effect on Other Contractual Rights. (a) The Employee shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor shall the amount of payment provided for under this Agreement be reduced by any compensation earned by the Employee as the result of employment by another employer after the Date of Termination, or otherwise. The amounts payable to Employee under Section 4 5 hereof shall not be treated as damages but as severance compensation to which Employee is entitled by reason of termination of his employment in the circumstances contemplated by this Agreement.
Appears in 2 contracts
Samples: Employment Agreement (Assisted Living Concepts Inc), Employment Agreement (Assisted Living Concepts Inc)
No Obligation to Mitigate Damages; No Effect on Other Contractual Rights. (a) The Employee shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor shall the amount of payment provided for under this Agreement be reduced by any compensation earned by the Employee as the result of employment by another employer after the Date of Terminationhis termination date, or otherwise. The amounts payable to Employee under Section 4 I hereof shall not be treated as damages but as severance compensation to which the Employee is entitled by reason of termination of his Employee’s employment in the circumstances contemplated by this Agreement.
Appears in 1 contract
Samples: Change in Control Agreement (Community Bankers Trust CORP)
No Obligation to Mitigate Damages; No Effect on Other Contractual Rights. (a) The Employee shall not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise, nor shall the amount of payment provided for under this Agreement be reduced by any compensation earned by the Employee as the result of employment by another employer after the Date of Termination, or otherwise. The amounts payable to Employee under Section 4 5 hereof shall not be treated as damages but as severance compensation to which Employee is entitled by reason of termination of his her employment in the circumstances contemplated by this Agreement.
Appears in 1 contract
Samples: Employment Agreement (Assisted Living Concepts Inc)