Common use of Advice of Counsel; Time to Consider; Revocation Clause in Contracts

Advice of Counsel; Time to Consider; Revocation. Executive acknowledges the following: (a) Executive has read this Agreement and understands its legal and binding effect. Executive is acting voluntarily and of Executive’s own free will in executing this Agreement. (b) Executive has been advised to seek and has had the opportunity to seek legal counsel in connection with this Agreement. (c) Executive was given at least twenty-one (21) days to consider the terms of this Agreement before signing it. (d) Executive acknowledges that the severance payments and benefits under the Employment Agreement is consideration that Executive is not otherwise entitled to under any company plan, program or prior agreement. (e) Executive has carefully read the contents of this Agreement and understands its contents. Executive acknowledges that he is executing this Agreement voluntarily, knowingly and without any duress or coercion. Executive understands that, if Executive signs this Agreement, Executive may revoke it within seven (7) days after signing it by delivering written notification of intent to revoke within that seven (7) day period. Executive understands that this Agreement will not be effective until after the seven (7) day period has expired. If Executive revokes this Agreement, Executive will repay any severance payment or benefits previously paid to Executive. Notwithstanding the above, in no event shall the timing of the execution of the release affect the timing of the receipt of compensation in such a manner as to subject such compensation to Section 409A.

Appears in 2 contracts

Samples: Employment Agreement (SemGroup Corp), Employment Agreement (Rose Rock Midstream, L.P.)

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Advice of Counsel; Time to Consider; Revocation. Executive acknowledges the following: (a) Executive has read this Agreement and understands its legal and binding effect. Executive is acting voluntarily and of Executive’s own free will in executing this Agreement. (b) Executive has been advised to seek and has had the opportunity to seek legal counsel in connection with this Agreement. (c) Executive was given at least twenty-one (21) 21 days to consider the terms of this Agreement before signing it. (d) Executive acknowledges that the severance payments and benefits under the Employment Agreement is consideration that Executive is not otherwise entitled to under any company plan, program or prior agreement. (e) Executive has carefully read the contents of this Agreement and understands its contents. Executive acknowledges that he is executing this Agreement voluntarily, knowingly and without any duress or coercion. Executive understands that, if Executive signs this Agreement, Executive may revoke it within seven (7) days after signing it by delivering written notification of intent to revoke within that seven (7) day period. Executive understands that this Agreement will not be effective until after the seven (7) seven-day period has expired. If Executive revokes this Agreement, Executive will repay any severance payment or benefits previously paid to Executive. Notwithstanding the above, in no event shall the timing of the execution of the release affect the timing of the receipt of compensation in such a manner as to subject such compensation to Section 409A..

Appears in 1 contract

Samples: Employment Agreement (SemGroup Corp)

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Advice of Counsel; Time to Consider; Revocation. Executive acknowledges the following: (a) Executive has read this Agreement Release and understands its legal and binding effect. Executive is acting voluntarily and of Executive’s own free will in executing this AgreementRelease. (b) Executive has been advised to seek and has had the opportunity to seek legal counsel in connection with this AgreementRelease. (c) Executive was given at least twenty-one (21) days the opportunity to consider the terms of this Agreement Release for at least 21 days before signing it. (d) Executive acknowledges that . To the severance payments and benefits under the Employment Agreement is consideration extent that Executive is not otherwise entitled executes this Release prior to under any company planthe expiration of such 21-day period, program or prior agreement. (e) Executive has carefully read the contents of this Agreement done so knowingly and understands its contents. Executive acknowledges that he is executing this Agreement voluntarily, knowingly and without any duress or coercionhas expressly waived the right to consider this Release for the full 21-day period. Executive understands that, if Executive signs this Agreementthe Release, Executive may revoke it within seven (7) days after signing it by delivering written notification of intent it, and that Executive’s right to revoke within that seven (7) this Release during such period may not be waived or otherwise curtailed. Any such revocation must be made in a signed letter executed by the Executive and received by the Company, at the address specified in the notice provisions contained in Section 10.7 of the Agreement, no later than 5:00 p.m. on the seventh day periodafter the Executive has executed this Release. Executive understands that this Agreement Release will not be effective until after the seven (7) seven-day period has expired. If Executive revokes this Agreement, Executive will repay any severance payment or benefits previously paid to Executive. Notwithstanding the above, in no event shall the timing of the execution of the release affect the timing of the receipt of compensation in such a manner as to subject such compensation to Section 409A..

Appears in 1 contract

Samples: Change of Control Employment Agreement (Principal Financial Group Inc)

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