Common use of Right to Offset Clause in Contracts

Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; provided, that in the event that Employee secures employment -------- or any consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 6, the Company shall have the right to reduce the amounts to be paid hereunder by the amount of Employee's earnings from such other employment.

Appears in 14 contracts

Samples: Employment Agreement (U S a Floral Products Inc), Employment Agreement (U S a Floral Products Inc), Employment Agreement (U S a Floral Products Inc)

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Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; providedprovided that, that in the event that Employee secures employment -------- or any consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 65, the Company shall have the right to reduce the amounts to be paid hereunder by the amount of Employee's earnings from such other employment, except that no such reduction shall be made for Employee's earnings from the companies referred to by name in Section 6(b) hereof.

Appears in 2 contracts

Samples: Employment Agreement (U S a Floral Products Inc), Employment Agreement (U S a Floral Products Inc)

Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; provided, that in the event that Employee secures employment -------- or any consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 6, the Company shall have the right to reduce the amounts to be paid hereunder by the amount of Employee's earnings from such other employment.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Navigant International Inc), Stock Purchase Agreement (Navigant International Inc)

Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; providedprovided that, that in the event that Employee secures employment -------- or any consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 6, the Company shall have the right to reduce the amounts to be paid hereunder by the amount of Employee's earnings from such other employment, except that no such reduction shall be made for Employee's earnings from the companies referred to by name in Section 7(b) hereof.

Appears in 2 contracts

Samples: Employment Agreement (U S a Floral Products Inc), Employment Agreement (U S a Floral Products Inc)

Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; provided, that in the event that Employee secures employment -------- or any consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 6, the Company shall have the right to reduce the amounts to be paid hereunder hereunder, other than compensation, benefits, bonus and reimbursements earned and accrued through the effective date of termination and prior to commencement of any such other employment, by the amount of Employee's earnings from such other employment.

Appears in 1 contract

Samples: Employment Agreement (U S a Floral Products Inc)

Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; provided, that in the event that Employee secures employment -------- or any -------- consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 6, the Company USA Floral shall have the right to reduce the amounts to be paid hereunder by the amount of Employee's earnings from such other employment.

Appears in 1 contract

Samples: Employment Agreement (U S a Floral Products Inc)

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Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; provided, that in the event that Employee secures employment -------- or any consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 65, the Company shall have the right to reduce the amounts to be paid hereunder by the amount of Employee's earnings from such other employment.

Appears in 1 contract

Samples: Employment Agreement (School Specialty Inc)

Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; provided, that in the event that Employee secures employment -------- or any consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 6, the Company shall have the right to reduce the amounts to be paid hereunder by the amount of Employee's earnings from such other employment.

Appears in 1 contract

Samples: Employment Agreement (Navigant International Inc)

Right to Offset. In the event of any termination of Employee's employment under this Agreement, the Employee shall have no obligation to seek other employment; provided, that in the event that Employee secures employment -------- or any consulting or other similar arrangement during the period that any payment is continuing pursuant to the provisions of this Section 6, the Company shall have the right to reduce the amounts to be paid hereunder by the amount $0.50 for each $1.00 of Employee's earnings from such other employment.

Appears in 1 contract

Samples: Employment Agreement (Aztec Technology Partners Inc /De/)

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