Common use of Other Severance Payments Clause in Contracts

Other Severance Payments. Benefits hereunder shall be in lieu of any benefits to which Executive would otherwise be entitled under any severance pay plan of the Company or its Subsidiaries, and shall be reduced by any severance payments from the Company or its Subsidiaries to which Executive is entitled under applicable federal or state law (for example, under a so-called "tin parachute" or plant closing law).

Appears in 3 contracts

Sources: Employment Agreement (TJX Companies Inc /De/), Employment Agreement (TJX Companies Inc /De/), Employment Agreement (TJX Companies Inc /De/)