Payment Obligations Absolute definition
Payment Obligations Absolute. Upon a Change in Control, the obligations of the Company and any other Employer to pay the Severance Benefits described in Section 4.2 shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company or any of its subsidiaries may have against the Executive. In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, nor shall the amount of any payment hereunder be reduced by any compensation earned by the Executive as a result of employment by another employer, except with respect to the welfare benefits as provided under Section 4.2(b).
Examples of Payment Obligations Absolute in a sentence
Payment Obligations Absolute: You are obligated to pay all fees owing the hotel or falling due under this agreement.