Grouped Into 1 Collection of Similar Clauses From Business Contracts
This page contains Non-Duplication of Benefits clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Non-Duplication of Benefits. Notwithstanding any other provision in the Plan to the contrary, the Severance Benefits provided to a Covered Employee are intended to be and are exclusive and in lieu of any other change in control severance benefits or payments to which such Covered Employee may otherwise be entitled, either at law, tort, or contract, in equity, or under the Plan, in the event of any termination of such Covered Employee's employment. The Covered Employee will be entitled to no change in control severance benef...its or payments upon a termination of employment that constitutes a Covered Termination other than those benefits expressly set forth herein and those benefits required to be provided by applicable law or as negotiated in accordance with applicable law (including any severance benefits that may be included in a severance agreement, employment agreement or similar contract between the Company or a subsidiary of the Company and the Covered Employee). Notwithstanding the foregoing, if a Covered Employee is entitled to any benefits other than the benefits under the Plan by operation of applicable law or as negotiated in accordance with applicable law, such Covered Employee's benefits under the Plan shall be provided only to the extent more favorable than such other arrangement. The Administrator, in its sole discretion, shall have the authority to reduce or otherwise adjust a Covered Employee's benefits under the Plan, in whole or in part, by any other severance benefits, pay and benefits in lieu of notice, or other similar benefits payable to such Covered Employee under the Plan that become payable in connection with the Covered Employee's termination of employment pursuant to (i) any applicable legal requirement, including the Worker Adjustment and Retraining Notification Act (the "WARN Act"), the California Plant Closing Act or any other similar state law, or (ii) any policy or practice of the Company providing for the Covered Employee to remain on payroll for a limited period of time after being given notice of termination. The benefits provided under the Plan are intended to satisfy, in whole or in part, any and all statutory obligations of the Company that may arise out of a Covered Employee's termination of employment, and the Administrator shall so construe and implement the terms of the Plan.View More
Non-Duplication of Benefits. Notwithstanding any other provision in the Plan to the contrary, the Severance Benefits and Change in Control Severance Benefits provided to a Covered Employee are 11 intended to be and are exclusive and in lieu of any other severance and change in control severance benefits or payments to which such the Covered Employee may otherwise be entitled, either at law, tort, or contract, in equity, or under the Plan, in the event of any termination of such the Covered Employee's employment. The Covered... Employee will be entitled to no severance and change in control severance benefits or payments upon a termination of employment that constitutes a Covered constitute an Involuntary Termination other than those benefits expressly set forth herein and those benefits required to be provided by applicable law or as negotiated in accordance with applicable law (including any severance benefits that may be included in a severance agreement, employment agreement or similar contract between the Company or a subsidiary of the Company and the Covered Employee). law. Notwithstanding the foregoing, if a the Covered Employee is entitled to any benefits other than the benefits under the Plan by operation of applicable law or as negotiated in accordance with applicable law, such Covered Employee's his or her benefits under the Plan shall be provided only to reduced by the extent more favorable than such other arrangement. The Administrator, in its sole discretion, shall have the authority to reduce or otherwise adjust a Covered Employee's benefits under the Plan, in whole or in part, by any other severance benefits, pay and benefits in lieu of notice, or other similar benefits payable to such Covered Employee under the Plan that become payable in connection with the Covered Employee's termination of employment pursuant to (i) any applicable legal requirement, including the Worker Adjustment and Retraining Notification Act (the "WARN Act"), the California Plant Closing Act or any other similar state law, or (ii) any policy or practice value of the Company providing for benefits the Covered Employee to remain on payroll for a limited period receives by operation of time after being given notice of termination. The benefits provided under the Plan are intended to satisfy, applicable law or as negotiated in whole or in part, any and all statutory obligations of the Company that may arise out of a Covered Employee's termination of employment, and accordance with applicable law, as determined by the Administrator shall so construe and implement the terms of the Plan. in its discretion. View More
Non-Duplication of Benefits. Notwithstanding any other provision in the Plan to the contrary, the Change in Control Severance Benefits provided to a Covered Employee are intended to be and are exclusive and in lieu of any other change in of control and severance benefits or payments to which such the Covered Employee may otherwise be entitled, either at law, tort, or contract, in equity, or under the Plan, in the event of any termination of such the Covered Employee's employment. The Covered Employee will be entitled to no ...change in of control or severance benefits or payments upon a termination of employment that constitutes a Covered constitute an Involuntary Termination other than those benefits expressly set forth herein and those benefits required to be provided by applicable law or as negotiated in accordance with applicable law (including any severance benefits that may be included in a severance agreement, employment agreement or similar contract between the Company or a subsidiary of the Company and the Covered Employee). law. Notwithstanding the foregoing, if a the Covered Employee is entitled to any benefits other than the benefits under the Plan by operation of applicable law or as negotiated in accordance with applicable law, such Covered Employee's his or her benefits under the Plan shall be provided only to reduced by the extent more favorable than such other arrangement. The Administrator, in its sole discretion, shall have the authority to reduce or otherwise adjust a Covered Employee's benefits under the Plan, in whole or in part, by any other severance benefits, pay and benefits in lieu of notice, or other similar benefits payable to such Covered Employee under the Plan that become payable in connection with the Covered Employee's termination of employment pursuant to (i) any applicable legal requirement, including the Worker Adjustment and Retraining Notification Act (the "WARN Act"), the California Plant Closing Act or any other similar state law, or (ii) any policy or practice value of the Company providing for benefits the Covered Employee to remain on payroll for a limited period receives by operation of time after being given notice of termination. The benefits provided under applicable law or as negotiated in accordance with applicable law, as determined by the Plan are intended to satisfy, Administrator in whole or in part, any and all statutory obligations its discretion. It is the intent of the Company Administrator that may arise out of a Covered Employee's termination of employment, and the Administrator shall so construe and implement amounts owing under the terms of the Plan. a non-equity performance based incentive plan will be made in addition to any Plan benefits and will not be so offset. View More
Non-Duplication of Benefits. Notwithstanding any other provision in the Plan to the contrary, the Severance Benefits provided to a Covered Employee are intended to be and are exclusive and in lieu of any other severance and change in control severance benefits or payments to which such the Covered Employee may otherwise be entitled, either at law, tort, or contract, in equity, or under the Plan, in the event of any termination of such the Covered Employee's employment. The Covered Employee will be entitled to no severance a...nd change in control severance benefits or payments upon a termination of employment that constitutes a Covered constitute an Involuntary Termination other than those benefits expressly set forth herein and those benefits required to be provided by applicable law or as negotiated in accordance with applicable law (including any severance benefits that may be included in a severance agreement, employment agreement or similar contract between the Company or a subsidiary of the Company and the Covered Employee). Notwithstanding the foregoing, if a the Covered Employee is entitled to any benefits other than the benefits under the Plan by operation of applicable law or as negotiated in accordance with applicable law, such Covered Employee's his or her benefits under the Plan shall be provided only to the extent more favorable than such other arrangement. The Administrator, in its sole discretion, shall have For the authority to reduce or otherwise adjust avoidance of doubt, it is expressly agreed that if a Covered Employee's benefits under Employee has received equity grants from the Plan, in whole or in part, by any other severance benefits, pay and benefits in lieu of notice, Company prior to the Effective Date which include prorated or other similar benefits payable accelerated vesting immediately prior to or upon a Change in Control, such Covered Employee under the Plan that become payable in connection with the Covered Employee's termination of employment pursuant shall continue to (i) be entitled to such prorated or other accelerated vesting, notwithstanding any applicable legal requirement, including the Worker Adjustment and Retraining Notification Act (the "WARN Act"), the California Plant Closing Act or any other similar state law, or (ii) any policy or practice of the Company providing for the Covered Employee to remain on payroll for a limited period of time after being given notice of termination. The benefits provided under the Plan are intended to satisfy, in whole or in part, any and all statutory obligations of the Company that may arise out of a Covered Employee's termination of employment, and the Administrator shall so construe and implement the terms provision of the Plan. View More
