Common use of Offset for Other Severance Pay Clause in Contracts

Offset for Other Severance Pay. There shall be no duplication of severance pay in any manner. In this regard, Executive shall not be entitled to Termination Pay hereunder for more than one position with the Company and its affiliates. Further, Termination Pay shall be in lieu of any other payments or benefits in the nature of severance pay or benefits to which Executive has received or will receive from the Company or any of its affiliates. Any other arrangement providing severance benefits shall be deemed to be amended to eliminate any obligation for benefits to be provided thereunder. If Executive is entitled to any notice or payment in lieu of any notice of termination of employment required by Federal, state or local law, including but not limited to the Worker Adjustment and Retraining Notification Act, the Severance Compensation to which the Executive would otherwise be entitled under this Agreement shall be reduced by the amount of any such payment, in lieu of notice.

Offset for Other Severance Pay. There shall be no duplication of severance pay in any manner. In this regard, Executive shall not be entitled to Termination Pay hereunder for more than one position with the Company and its affiliatesCompany. Further, Termination Pay shall be in lieu of any other payments or benefits in the nature of severance pay or benefits to which Executive has received or will receive from the Company or any of its affiliatesCompany. Any other arrangement providing severance benefits payments shall be deemed to be amended to eliminate any obligation for benefits such payments to be provided thereunderthereunder to Executive. If Executive is entitled to any notice or payment in lieu of any notice of termination of employment required by under Federal, state or local law, including but not limited to the Worker Adjustment and Retraining Notification Act, the Severance Compensation Termination Pay to which the Executive would otherwise be entitled under this Agreement shall be reduced by the amount of any such payment, payment in lieu of notice.

Offset for Other Severance Pay. There shall be no duplication of severance pay Severance Pay in any manner. In this regard, Executive Employee shall not be entitled to Termination Severance Pay hereunder for more than one position with the Company and its affiliates. Further, Termination Severance Pay shall be in lieu of any other payments or benefits in the nature of severance pay or benefits to which Executive Employee has received or will receive from the Company or any of its affiliates. Any other arrangement providing severance benefits shall be deemed to be amended to eliminate any obligation for benefits to be provided thereunder. If Executive Employee is entitled to any notice or payment in lieu of any notice of termination of employment required by Federal, state or local law, including but not limited to the Worker Adjustment and Retraining Notification Act, the Severance Compensation Pay to which the Executive Employee would otherwise be entitled under this Agreement shall be reduced by the amount of any such payment, in lieu of notice.