Common use of No Mitigation; No Offset Clause in Contracts

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 18 contracts

Sources: Employment Agreement (Provident Bancorp, Inc. /MD/), Employment Agreement (Provident Bancorp, Inc. /MD/), Employment Agreement (Provident Bancorp, Inc. /MD/)

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 14 contracts

Sources: Employment Agreement (Cellectar Biosciences, Inc.), Employment Agreement (Cellectar Biosciences, Inc.), Employment Agreement (Community Financial Corp /Md/)

No Mitigation; No Offset. In the event of any termination of his employment under this Agreementhereunder, the Executive shall not be under no obligation required to seek mitigate the amount of any payment provided for in this Agreement by seeking other employment or to mitigate damages, otherwise and there no such payment shall be no offset against any amounts due to him under this Agreement for any reason, including, without limitation, on account or reduced by the amount of any remuneration attributable compensation provided to the Executive in any subsequent employment that the Executive may obtain. Any amounts due under employment, except as provided in Section 9(e) of this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penaltyAgreement.

Appears in 11 contracts

Sources: Employment Agreement (Empire Resorts Inc), Employment Agreement (Empire Resorts Inc), Employment Agreement (Empire Resorts Inc)

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall will be no offset against any amounts due to him the Executive under this Agreement for any reason, including, including without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 5 contracts

Sources: Employment Agreement (T-Mobile US, Inc.), Employment Agreement (T-Mobile US, Inc.), Employment Agreement

No Mitigation; No Offset. In the event of any termination of the Executive’s employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts amount due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 3 contracts

Sources: Employment Agreement (Brookline Bancorp Inc), Employment Agreement (Berkshire Hills Bancorp Inc), Employment Agreement (Brookline Bancorp Inc)

No Mitigation; No Offset. In the event of any termination of his employment under this Agreementhereunder, the Executive shall not be under no obligation required to seek mitigate the amount of any payment provided for in this Agreement by seeking other employment or to mitigate damagesotherwise, and there no such payment shall be no offset against any amounts due to him under this Agreement for any reason, including, without limitation, on account or reduced by the amount of any remuneration attributable compensation provided to the Executive in any subsequent employment employment, except as provided in Section 9(h) of this Agreement. In addition, the amounts payable hereunder shall not be subject to setoff, counterclaim, recoupment, defense or other right that the Company may have against the Executive may obtain. Any amounts due under this Agreement are in or others, except upon a final unappealable judgment against the nature Executive for the benefit of severance payments or liquidated damages, or both, and are not in the nature of a penaltyCompany.

Appears in 2 contracts

Sources: Employment Agreement (Eddie Bauer Holdings, Inc.), Employment Agreement (Eddie Bauer Holdings, Inc.)

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him her under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 2 contracts

Sources: Employment Agreement (Provident Bancorp, Inc. /MD/), Employment Agreement (Provident Bancorp, Inc.)

No Mitigation; No Offset. In the event of any termination of employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, on account of any remuneration attributable to any subsequent employment that the Executive may obtain. Any amounts due under this Agreement are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 2 contracts

Sources: Employment Agreement (Atlantic Coastal Acquisition Corp. II), Employment Agreement (Abpro Corp)

No Mitigation; No Offset. In the event of any the Executive's termination of employment under this Agreementemployment, the Executive he shall be under no obligation to seek other employment or to mitigate damages, and there shall be no offset against any amounts due to him under this Agreement for any reason, including, without limitation, the Executive hereunder on account of any remuneration attributable to any subsequent employment that the Executive may obtainobtain from any subsequent employment. Any amounts due under this Agreement the Executive hereunder are in the nature of severance payments or liquidated damages, or both, and are not in the nature of a penalty.

Appears in 1 contract

Sources: Employment Agreement (Alternative Living Services Inc)

No Mitigation; No Offset. In the event of any termination of his employment under this Agreement, the Executive shall be under no obligation to seek other employment or to mitigate damagesemployment, and there shall be no offset against any amounts due to him the Executive under this Agreement for any reason, including, without limitation, or otherwise on account of any remuneration attributable to any subsequent employment that he may obtain or any claim that the Executive Company or any Affiliate may obtainhave against him. Any amounts due under this Agreement Section 8 are in considered to be reasonable by the nature of severance payments or liquidated damages, or both, Company and are not in the nature of a penalty.

Appears in 1 contract

Sources: Employment Agreement (Axis Capital Holdings LTD)