Payment of Severance Allowance. The Severance Allowance shall be paid to the Manager in a lump sum on the Payment Date. If a court awards the Manager a severance pay and/or any compensation in relation to the termination of the Manager’s employment, the Manager may no longer assert any rights under this Agreement. If and insofar the Company or any of its affiliates has already made any payments under this Agreement, the Company or any of its affiliates may set off the payments that have been made against any net salary payment to which the Manager is entitled, or recover such from the Manager in any other way.
Appears in 2 contracts
Sources: Change in Control Agreement (Quaker Chemical Corp), Change in Control Agreement (Quaker Chemical Corp)