Common use of Acknowledgment of Payment/Receipt of All Wages and Benefits Clause in Contracts

Acknowledgment of Payment/Receipt of All Wages and Benefits. Executive understands that he will receive final paychecks which include payment of all wages due (including, but not limited to, base salary, any applicable bonuses, and Executive’s last paycheck which includes his regular final pay through and including the Separation Date) and all accrued, unused vacation and/or PTO on the last date of his employment regardless of whether he signs this Agreement. Executive agrees that upon receipt of this final payment he will sign an acknowledgment in the form attached hereto as Exhibit A, stating that he has been paid all wages due and accrued and reimbursed for all business related expenses he incurred during his employment with the Company. Executive understands and agrees that he is not entitled to, and shall not receive, any further compensation or benefits from the Company except as set forth in this Section 3 or Section 4 herein.