Common use of No Set-Off; No Obligation to Seek Other Employment or to Otherwise Mitigate Damages; No Effect Upon Other Plans Clause in Contracts

No Set-Off; No Obligation to Seek Other Employment or to Otherwise Mitigate Damages; No Effect Upon Other Plans. SITE Centers’ obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement will not be affected by any set‑off, counterclaim, recoupment, defense, or other claim whatsoever that SITE Centers or any Subsidiary or affiliate may have against Executive, except that the prohibition on set-off, counterclaim, recoupment, defense, or other claim contained in this sentence will not apply if Executive’s employment is terminated by SITE Centers for Cause. Executive will not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise. The amount of any payment provided for under this Agreement will not be reduced by any compensation or benefits earned by Executive as the result of employment by another employer or otherwise after the Termination Date. Neither the provisions of this Agreement nor the making of any payment provided for under this Agreement, nor the termination of SITE Centers’ obligations under this Agreement, will reduce any amounts otherwise payable, or in any way diminish Executive’s rights, under any incentive compensation plan, stock option or stock appreciation rights plan, restricted stock plan or agreement, deferred compensation, retirement, or supplemental retirement plan, stock purchase and savings plan, disability or insurance plan, or other similar contract, plan, or arrangement of SITE Centers or any Subsidiary, all of which will be governed by their respective terms.

Appears in 3 contracts

Samples: Employment Agreement (SITE Centers Corp.), Employment Agreement (SITE Centers Corp.), Employment Agreement (SITE Centers Corp.)

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No Set-Off; No Obligation to Seek Other Employment or to Otherwise Mitigate Damages; No Effect Upon Other Plans. SITE Centers’ DDR’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement will not be affected by any set‑offset-off, counterclaim, recoupment, defense, or other claim whatsoever that SITE Centers DDR or any Subsidiary or affiliate may have against ExecutiveXxxxxxx, except that the prohibition on set-off, counterclaim, recoupment, defense, or other claim contained in this sentence will not apply if Executive’s Xxxxxxx’x employment is terminated by SITE Centers the Board for Cause. Executive Xxxxxxx will not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise. The amount of any payment provided for under this Agreement will not be reduced by any compensation or benefits earned by Executive Xxxxxxx as the result of employment by another employer or otherwise after the Termination Date. Neither the provisions of this Agreement nor the making of any payment provided for under this Agreement, nor the termination of SITE Centers’ DDR’s obligations under this Agreement, will reduce any amounts otherwise payable, or in any way diminish Executive’s Xxxxxxx’x rights, under any incentive compensation plan, stock option or stock appreciation rights plan, restricted stock plan or agreement, deferred compensation, retirement, or supplemental retirement plan, stock purchase and savings plan, disability or insurance plan, or other similar contract, plan, or arrangement of SITE Centers DDR or any Subsidiary, all of which will be governed by their respective terms.

Appears in 1 contract

Samples: Employment Agreement (Developers Diversified Realty Corp)

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No Set-Off; No Obligation to Seek Other Employment or to Otherwise Mitigate Damages; No Effect Upon Other Plans. SITE Centers’ DDR’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations under this Agreement will not be affected by any set‑offset-off, counterclaim, recoupment, defense, or other claim whatsoever that SITE Centers DDR or any Subsidiary or affiliate may have against ExecutiveXxxxxxx, except that the prohibition on set-off, counterclaim, recoupment, defense, or other claim contained in this sentence will not apply if Executive’s Xxxxxxx’x employment is terminated by SITE Centers DDR for Cause. Executive Xxxxxxx will not be required to mitigate damages or the amount of any payment provided for under this Agreement by seeking other employment or otherwise. The amount of any payment provided for under this Agreement will not be reduced by any compensation or benefits earned by Executive Xxxxxxx as the result of employment by another employer or otherwise after the Termination Date. Neither the provisions of this Agreement nor the making of any payment provided for under this Agreement, nor the termination of SITE Centers’ DDR’s obligations under this Agreement, will reduce any amounts otherwise payable, or in any way diminish Executive’s Xxxxxxx’x rights, under any incentive compensation plan, stock option or stock appreciation rights plan, restricted stock plan or agreement, deferred compensation, retirement, or supplemental retirement plan, stock purchase and savings plan, disability or insurance plan, or other similar contract, plan, or arrangement of SITE Centers DDR or any Subsidiary, all of which will be governed by their respective terms.

Appears in 1 contract

Samples: Employment Agreement (Developers Diversified Realty Corp)

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