Common use of Offset Against Severance Clause in Contracts

Offset Against Severance. During the period in which the ------------------------ Executive is receiving Severance Payments from the Company (the "Severance Period"), such Severance Payments to be provided to the Executive shall be reduced on a dollar-for-dollar basis by any wages actually received by the Executive during the Severance Period for full-time employment. The Executive promises and agrees to promptly advise the Company of the amount and source of any wages received by him.

Appears in 3 contracts

Samples: Employment Agreement (Naviant Inc), Employment Agreement (Naviant Inc), Employment Agreement (Naviant Inc)

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Offset Against Severance. During the period in which the ------------------------ Executive is ------------------------ receiving Severance Payments from the Company (the "Severance Period"), such Severance Payments to be provided to the Executive shall be reduced on a dollar-dollar- for-dollar basis by any wages actually received by the Executive during the Severance Period for full-time employment. The Executive promises and agrees to promptly advise the Company of the amount and source of any wages received by him.

Appears in 1 contract

Samples: Employment Agreement (Naviant Inc)

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Offset Against Severance. During the period in which the ------------------------ Executive is receiving Severance Payments from the Company (the "Severance the"Severance Period"), such Severance Payments to be provided to the Executive shall be reduced on a dollar-for-dollar basis by any wages or other compensation actually received by the Executive during the Severance Period for full-time Period, regardless of whether such wages or compensation are from employment, consulting, or other gainful activities. The Executive promises and agrees to promptly advise the Company of the amount and source of any wages or other compensation received by him, from any source, during the Severance Period.

Appears in 1 contract

Samples: Employment Agreement (PSW Technologies Inc)

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