WARN Act Offset. In the event that Executive’s termination Without Cause in accordance with Section 1.5.4 above is covered by the Worker Adjustment Retraining Notification Act (“WARN”) at the time of Executive’s termination, or is deemed to be covered by WARN retrospectively within 90 days after Executive’s termination, the amount of any Severance Payments Executive is entitled to receive pursuant to Section 1.6.2 shall be reduced by an amount equal to any payments the Company is required to provide Executive under WARN or by the amount of pay Executive receives during any portion of WARN’s 60-day notice period where Executive does not perform any work for the Company.
Appears in 3 contracts
Samples: Employment Agreement (Wilson Holdings, Inc.), Employment Agreement (Wilson Holdings, Inc.), Employment Agreement (Wilson Holdings, Inc.)
WARN Act Offset. In the event that Executive’s 's termination Without Cause in accordance with Section 1.5.4 1.5.6 above is covered by the Worker Adjustment Retraining Notification Act (“WARN”) at the time of Executive’s 's termination, or is deemed to be covered by WARN retrospectively within 90 days after Executive’s 's termination, the amount of any Severance Payments Payment or Benefit Continuation Executive is entitled to receive pursuant to Section 1.6.2 shall be reduced by an amount equal to any payments the Company is required to provide Executive under WARN or by the amount of pay Executive receives during any portion of WARN’s 's 60-day notice period where Executive does not perform any work for the Company.
Appears in 2 contracts
Samples: Employment Agreement (Roughneck Supplies Inc.), Employment Agreement (Roughneck Supplies Inc.)
WARN Act Offset. In the event that Executive’s 's termination Without Cause in accordance with Section 1.5.4 1.5.5 above is covered by the Worker Adjustment Retraining Notification Act (“"WARN”") at the time of Executive’s 's termination, or is deemed to be covered by WARN retrospectively within 90 days after Executive’s 's termination, the amount of any Severance Payments Payment or Benefit Continuation Executive is entitled to receive pursuant to Section 1.6.2 shall be reduced by an amount equal to any payments the Company is required to provide Executive under WARN or by the amount of pay Executive receives during any portion of WARN’s 's 60-day notice period where Executive does not perform any work for the Company.
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