Common use of Consultation Period Clause in Contracts

Consultation Period. Subject to the terms and conditions hereinafter set forth, the term of this Agreement shall, provided the Consultant has timely entered into the Separation Agreement and Additional Release, commence on the Consulting Effective Date and continue until the second (2nd) anniversary of the Consulting Effective Date (such period, the “Consultation Period”). The Consultation Period shall automatically terminate upon the death of the Consultant or the date on which the Consultant becomes physically or mentally incapable of performing the Services. This Agreement may further be terminated at any time after the Consulting Effective Date in the following manner: (i) by the Company at any time immediately upon written notice if the Consultant has materially breached this Agreement or the Separation Agreement; (ii) by the Consultant at any time immediately upon written notice if the Company has materially breached this Agreement or the Separation Agreement; (iii) at any time upon the mutual written consent of the parties hereto, or (iv) by either party for any reason upon thirty (30) days’ prior written notice to the other party. The Consultation Period may be extended by the mutual written agreement of the parties hereto.

Appears in 4 contracts

Samples: Transition, Separation and Release of Claims Agreement (Merrimack Pharmaceuticals Inc), Transition, Separation and Release of Claims Agreement (Merrimack Pharmaceuticals Inc), Transition, Separation and Release of Claims Agreement (Merrimack Pharmaceuticals Inc)

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Consultation Period. Subject to the terms and conditions hereinafter set forth, the term of this Agreement shall, provided the Consultant has timely entered into the Separation Agreement and Additional Release, commence on the Consulting Effective Date and shall continue until terminated in accordance with the second (2nd) anniversary of the Consulting Effective Date provisions below (such period, the “Consultation Period”). The Consultation Period shall automatically terminate upon the death death, physical incapacitation or mental incompetence of the Consultant, or, if the Consultant or revokes the Additional Release, upon the date on which the Consultant becomes physically or mentally incapable of performing the Servicessuch revocation. This Agreement may further be terminated at any time after the Consulting Effective Date in the following manner: (i) by the Company at any time immediately upon written notice if the Consultant has materially breached this Agreement or the Separation Agreement; (ii) by the Consultant at any time immediately upon written notice if the Company has materially breached this Agreement or the Separation Agreement; (iii) at any time upon the mutual written consent of the parties hereto, or (iv) by either party for any reason upon thirty ten (3010) days’ prior written notice to the other party. The Consultation Period may be extended by the mutual written agreement of the parties hereto.

Appears in 2 contracts

Samples: Transition, Separation and Release of Claims Agreement (Ocular Therapeutix, Inc), Consulting Agreement (Ocular Therapeutix, Inc)

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