Consideration for Release Clause Samples

Consideration for Release. In consideration of the waiver and release of claims set forth in Paragraphs 7 and 8 below, and in exchange for your signing this Agreement, the Company agrees to provide you with the post-termination payments (the “Severance Payments”) described in Section 5 of that certain Executive Employment Agreement, dated July 30, 2010. The Severance Payments are in addition to any amounts owed to you by the Company. You acknowledge and agree that but for the terms of the Employment Agreement, you would not otherwise be entitled to receive the Severance Payments. You understand that if you do not sign the Agreement, or if you revoke the signed Agreement as described in Paragraph 19 below (if applicable), the Company has no obligation to provide you with the Severance Payments.

Consideration for Release. Subject to your compliance with the terms and conditions of this Agreement, and provided you deliver to the Company this signed Agreement and satisfy all conditions to make the Release effective, the Company shall provide you with the payments and acceleration set forth under Section 6 of the Employment Agreement as compensation for the Release set forth herein.

Consideration for Release. Safeco represents, and Employee acknowledges, that the Severance Payment and the other consideration and benefits provided hereunder exceed any amount Safeco may arguably be required to pay under any agreement or arrangement to which Employee is a party or under which Employee claims some benefit, or under the standard policies and procedures of Safeco, and represents valuable consideration to Employee for the release of the Claims described above.

Consideration for Release. Subject to your compliance with the terms and conditions of this Release, and provided you deliver to the Company this signed Release, do not revoke this Release and satisfy all conditions to make this Release effective, the Company will provide you with the payments and benefits set forth in the Employment Agreement as compensation for this Release.

Consideration for Release. In consideration for Employee’s (i) release of any and all claims Employee may have against the Company, if any, and (ii) adherence to each of the terms and conditions of this Agreement and provided that Employee has executed this Agreement and has not later revoked the Agreement as provided herein, the Company shall pay Employee: (x) a gross payment of One Million Two Hundred Sixty Thousand Dollars and 00/100 cents ($1,260,000.00), representing a severance amount equivalent to twenty-four (24) months of salary discounted by ten percent of such salary (10%), and (y) a lump sum payment equal to Forty-Nine Thousand, Three Hundred Eighteen Dollars and 25/100 cents ($49,318.25), representing the Benefits Payment, in each case less appropriate deductions and tax withholding amounts. As used herein, the term “Benefits Payment” shall mean the payment in full satisfaction of the Company’s benefit payment obligation as set forth in Section 13.d(vi) and (vii) of the Employment Agreement. The Severance Amount shall be paid in equal monthly installments over the twenty-four (24) months following the Separation Date (the “Severance Period”); provided, however, that if the Company determines that any portion of the Severance Amount satisfies an exemption from Code Section 409A (as defined herein), then (i) the portion of the severance amount that the Company determines satisfies an exemption from Code Section 409A (the “Exempt Severance Portion”) shall be paid to Employee in a lump sum on the thirtieth (30th) business day after the Separation Date, and (ii) the portion of the severance amount that the Company determines is subject to, but does not satisfy an exemption from, Code Section 409A shall be paid to Employee in equal monthly installments over the Severance Period, subject to the Delay Period (as defined in Paragraph 24 of this Agreement). The Benefits Payment shall be paid in a lump sum payment on the thirtieth (30th) business day after the Separation Date.

Consideration for Release. In consideration of the waiver and release of claims set forth in Paragraphs 7 and 8 below, and in exchange for your signing this Agreement, the Company agrees to provide you with the post-termination payments (the "SEVERANCE PAYMENTS") described in Section 3.6 of that certain IRIS International, Inc. Key Employee Agreement for Robert Mello, dated ___________, 2007 (the "IRIS OFFER LETTER"). The ▇▇▇▇▇▇▇▇▇ ▇ayments are in addition to any amounts owed to you by the Company. You acknowledge and agree that you are not otherwise entitled to receive the Severance Payments. You understand that if you do not sign the Agreement, or if you revoke the signed Agreement as described in Paragraph 19 below (if applicable), the Company has no obligation to provide you with the Severance Payments.

Consideration for Release. In consideration for the releases and covenants contained in this Agreement, Bank shall pay to Employee the sums described in paragraphs 16 or 18, as applicable, of the Employment Agreement dated as of May 20, 2019 between Bank and Employee (the “Employment Agreement”). Employee acknowledges that the payment of such sums provides good, sufficient and valuable consideration for Employee’s covenants, waivers, and releases contained in this Agreement. Employee understands that Bank’s willingness to pay such sums is contingent upon Employee’s fulfillment of his obligations contained herein. If Employee revokes this Agreement as described in Section 5 below, Bank shall be released from its obligations under this Agreement and paragraph 16 or 18, as applicable, of the Employment Agreement.

Consideration for Release. Employee acknowledges that Employee has received all compensation owed to Employee for Employee’s employment through and including August 31, 2017. Both parties agree that the monies and other benefits to be provided to Employee hereunder as outlined in Section 4 are in excess of compensation to which Employee would otherwise be entitled. As such, it is agreed that such monies and benefits provide full and adequate consideration for Employee’s various representations and releases contained herein.

Consideration for Release. Subject to your compliance with the terms and conditions of this Agreement, and provided you deliver to the Company this signed Agreement and satisfy all conditions to make the Release effective within sixty (60) days following your Separation (such sixty (60) day period, the “Release Period”), the Company shall provide you with the acceleration set forth under Section 7 of the Employment Agreement as compensation for the Release set forth herein.