FBIZ » Topics » ARTICLE 5 THE COMPANIES PAYMENT OBLIGATIONS
This excerpt taken from the FBIZ 8-K filed Dec 16, 2005.
ARTICLE 5 THE COMPANIES
Payment Obligations Absolute. The Companies obligations to make the payments
and the arrangements provided for under this Restated Agreement shall be absolute and
unconditional, and shall not be affected by any circumstances, including,without
limitation, any offset, counterclaim, recoupment, defense, or other right which the
Companies may have against the Executive or anyone else. All amounts payable by
the Companies thereunder shall be paid without notice or demand, except as provided
herein. Each and every payment made thereunder by the Companies shall be final, and the
Companies shall not seek to recover all or any part of such payment from the Executive or
from whomsoever may be entitled thereto, for any reasons whatsoever.
Executive shall not be obligated to seek other employment in mitigation of the amounts
payable or arrangements made under this Restated Agreement, and the obtaining of any such
other employment shall in no event effect any reduction of the Companies obligations
to make the payments and arrangements required to be made under this Restated Agreement.
Contractual Rights to Benefits. This Restated Agreement establishes and vests in
the Executive a contractual right to the benefits to which he is entitled hereunder.
However, nothing herein contained shall require or be deemed to require, or prohibit or
be deemed to prohibit, the Companies to segregate, earmark, or otherwise set aside any
funds or other assets, in trust or otherwise, to provide for any payments to be made or
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