Common use of Condition to Receipt of Separation Pay Clause in Contracts

Condition to Receipt of Separation Pay. As a condition to receipt (or retention, as applicable) of any payment or amounts under Section 3.01(d) and (e), the Executive must (a) enter into a General Release and Waiver of Claims (“Release Agreement”) with the Company and its Affiliates in substantially the form attached as Exhibit A and (b) continue to comply with his obligations under Article IV of this Agreement. The Executive must execute and return the Release Agreement to the Company no later than the time period established by the Company which shall be no longer than 45 days from the date Executive receives the Release Agreement, followed by a seven (7)-day revocation period following the date the Release Agreement is executed (“Revocation Period”). The Executive’s failure to timely execute and return the Release Agreement in accordance with the previous sentence, or the Executive’s revocation of the Release Agreement during the Revocation Period, will result in a forfeiture of all benefits payable to the Executive under the terms of the Agreement other than the Accrued Obligations and any vested Benefits described under Section 3.01(f).

Condition to Receipt of Separation Pay. As a condition to receipt (or retention, as applicable) of any payment or amounts under Section 3.01(d) and (e), the Executive must (a) enter into a General Release and Waiver of Claims (“Release Agreement”) with the Company and its Affiliates in substantially the form attached as Exhibit A and (b) continue to comply with his obligations under Article IV of this Agreement. The Executive must execute and return the Release Agreement to the Company no later than the time period established by the Company which shall be no longer than 45 days from the date Executive receives the Release Agreement, followed by a seven (7)-day revocation period following the date the Release Agreement is executed (“Revocation Period”). The Executive’s failure to timely execute and return the Release Agreement in accordance with the previous sentence, or the Executive’s revocation of the Release Agreement during the Revocation Period, will result in a forfeiture of all benefits payable to the Executive under the terms of the Agreement other than the Accrued Obligations and any vested Benefits described under Section 3.01(f3.01(e).