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TPTX » Topics » 4.4.4 Mitigation.

These excerpts taken from the TPTX 8-K filed Dec 20, 2006.
4.4.4       Mitigation.   Any amounts payable to the Executive under Section 4.4.2.1 and Section 4.4.2.2 shall be reduced by the amount of the Executive’s earnings from other employment during the Severance Period, if applicable (which employment the Executive shall have an affirmative duty to seek; provided, however, that the Executive shall not be obligated to accept a new position which is not reasonably comparable to his employment with the Company).

4.4.4   No Mitigation.   Amounts payable to the Executive under Section 4.4.2.1 and Section 4.4.2.2 shall not be reduced by any amount of the Executive’s earnings from other employment during the Benefit Severance Period, if applicable, and, during the Benefit Severance Period, the Executive shall not have an affirmative duty to seek other employment or otherwise mitigate the amount of any payment contemplated by this Agreement.

4.4.4       No Mitigation.   Amounts payable to the Executive under Section 4.4.2.1 and Section 4.4.2.2 shall not be reduced by any amount of the Executive’s earnings from other employment during the Benefit Severance Period, if applicable, and, during the Benefit Severance Period, the Executive shall not have an affirmative duty to seek other employment or otherwise mitigate the amount of any payment contemplated by this Agreement.

EXCERPTS ON THIS PAGE:

8-K (3 sections)
Dec 20, 2006

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