Common use of Payment in Lieu of Contract Damages Clause in Contracts

Payment in Lieu of Contract Damages. The Severance Payment shall be in lieu of any further payments to the Employee and any further accrual of benefits with respect to periods subsequent to the date of the employment termination. Notwithstanding, the preceding sentence neither the Severance Payment nor any other payments under this Section 7(a) shall reduce or offset any benefits the Employee may be entitled to under the specific terms of the benefit plans of the Company.

Payment in Lieu of Contract Damages. The Severance Payment shall be in lieu of any further payments to the Employee and any further accrual of benefits with respect to periods subsequent to the date of the employment termination. Notwithstanding, Notwithstanding the preceding sentence sentence, neither the Severance Payment nor any other payments under this Section 7(a) shall reduce or offset any benefits the Employee may be entitled to under the specific terms of the benefit plans of the Company.

Payment in Lieu of Contract Damages. The Severance Payment shall be in lieu of any further payments to the Employee and any further accrual of benefits with respect to periods subsequent to the date of the employment termination. Notwithstanding, the preceding sentence sentence, neither the Severance Payment nor any other payments under this Section 7(a8(a) shall reduce or offset any benefits the Employee may be entitled to under the specific terms of the benefit plans of the Company.

Payment in Lieu of Contract Damages. The Severance Payment shall be in lieu of any further payments to the Employee and any further accrual of benefits with respect to periods subsequent to the date of the employment terminationtermination and shall constitute a full satisfaction and discharge of any claims by Employee related to the Agreement or the circumstances surrounding the termination of employment hereunder. Notwithstanding, Notwithstanding the preceding sentence sentence, neither the Severance Payment nor any other payments under this Section 7(a8(c) shall reduce or offset any benefits the Employee may be entitled to under the specific terms of the benefit plans of the Company.