Indebtedness of Executive. If Executive is indebted to the Company or an affiliate of the Company at his termination date, the Company reserves the right to offset any severance benefits under this Agreement by the amount of such indebtedness.
Appears in 3 contracts
Sources: Executive Change of Control Agreement (Peninsula Pharmaceuticals Inc), Executive Change of Control Agreement (Peninsula Pharmaceuticals Inc), Executive Change of Control Agreement (Peninsula Pharmaceuticals Inc)