Common use of Due Care Clause in Contracts

Due Care. The Employee acknowledges that he or she has received a copy of this Release prior to its execution and has been advised hereby of his or her opportunity to review and consider this Release for 21 days prior to its execution. The Employee further acknowledges that he or she has been advised hereby to consult with an attorney prior to executing this Release. The Employee enters into this Release having freely and knowingly elected, after due consideration, to execute this Release and to fulfill the promises set forth herein. This Release shall be revocable by the Employee during the 7-day period following its execution, and shall not become effective or enforceable until the expiration of such 7-day period. In the event of such a revocation, the Employee shall not be entitled to the consideration for this Release set forth above.

Appears in 11 contracts

Samples: Change in Control Agreement (Enbridge Inc), Change in Control Agreement (Spectra Energy Corp.), Change in Control Agreement (Spectra Energy Corp.)

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Due Care. The Employee acknowledges that he or she has received a copy of this Release prior to its execution and has been advised hereby of his or her opportunity to review and consider this Release for 21 days prior to its execution. The Employee further acknowledges that he or she has been advised hereby to consult with an attorney prior to executing this Release. The Employee enters into this Release having freely and knowingly elected, after due consideration, to execute this Release and to fulfill the promises set forth herein. This Release shall be revocable by the Employee during the 7-day period following its execution, and shall not become effective or enforceable until the expiration of such 7-day period. In the event of such a revocation, the Employee shall not be entitled to the consideration for this Release set forth above.

Appears in 5 contracts

Samples: Employment Agreement, Change in Control Agreement (Duke Energy CORP), Employment Agreement (Duke Energy CORP)

Due Care. The Employee acknowledges that he or she has received a copy of this Release prior to its execution and has been advised hereby of his or her opportunity to review and consider this Release for 21 days prior to its execution. The Employee further is hereby advised and acknowledges that he or she has been advised hereby to consult with an attorney prior to executing this Release. The Employee enters into this Release having freely and knowingly elected, after due consideration, to execute this Release and to fulfill the promises set forth herein. This Release shall be revocable by the Employee during the 7-day period following its execution, and shall not become effective or enforceable until the expiration of such 7-day period. In The severance payments under the event Employment Agreement shall be made following the expiration of such a this 7-day period, and shall be forfeited by Employee if he exercises the right of revocation, the Employee shall not be entitled to the consideration for this Release set forth above.

Appears in 3 contracts

Samples: Employment Agreement (Marlin Business Services Inc), Employment Agreement (Marlin Business Services Inc), Employment Agreement (Marlin Business Services Inc)

Due Care. The Employee acknowledges that he or she has received a copy of this Release prior to its execution and has been advised hereby of his or her opportunity to review and consider this Release for 21 days prior to its execution. The Employee further acknowledges that he or she has been advised hereby to consult with an attorney a lawyer prior to executing this Release. The Employee enters into this Release having freely and knowingly elected, after due consideration, to execute this Release and to fulfill the promises set forth herein. This Release shall be revocable by the Employee during the 7-day period following its execution, and shall not become effective or enforceable until the expiration of such 7-day period. In the event of such a revocation, the Employee shall not be entitled to the consideration for this Release set forth above.

Appears in 2 contracts

Samples: Change in Control Agreement, Change in Control Agreement (Spectra Energy Corp.)

Due Care. The Employee acknowledges that he or she has -------- received a copy of this Release prior to its execution and has been advised hereby of his or her opportunity to review and consider this Release for 21 days prior to its execution. The Employee further acknowledges that he or she has been advised hereby to consult with an attorney prior to executing this Release. The Employee enters into this Release having freely and knowingly elected, after due consideration, to execute this Release and to fulfill the promises set forth herein. This Release shall be revocable by the Employee during the 7-day period following its execution, and shall not become effective or enforceable until the expiration of such 7-day period. In the event of such a revocation, the Employee shall not be entitled to the consideration for this Release set forth above.

Appears in 1 contract

Samples: Key Employee Severance Agreement and Release (Duke Energy Corp)

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Due Care. The Employee acknowledges that he or she has received a copy of this Release Agreement prior to its execution and has been advised hereby of his or her opportunity to review and consider this Release Agreement for 21 twenty-one (21) days prior to its execution. The Employee further acknowledges that he or she has been advised hereby to consult with an attorney prior to executing this ReleaseAgreement. The Employee enters into this Release Agreement having freely and knowingly elected, after due consideration, to execute this Release Agreement and to fulfill the promises set forth herein. This Release Agreement shall be revocable by the Employee during the 7-day period following its execution, and shall not become effective or enforceable until the expiration of such 7-day period. In the event of such a revocation, the Employee shall not be entitled to the consideration for this Release Agreement set forth above.

Appears in 1 contract

Samples: Merger Severance Agreement (Promus Hotel Corp/De/)

Due Care. The Employee acknowledges that he or she has received a copy -------- of this Release prior to its execution and has been advised hereby of his or her opportunity to review and consider this Release for 21 days prior to its execution. The Employee further acknowledges that he or she has been advised hereby to consult with an attorney prior to executing this Release. The Employee enters into this Release having freely and knowingly elected, after due consideration, to execute this Release and to fulfill the promises set forth herein. This Release shall be revocable by the Employee during the 7-day period following its execution, and shall not become effective or enforceable until the expiration of such 7-day period. In the event of such a revocation, the Employee shall not be entitled to the consideration for this Release set forth above.

Appears in 1 contract

Samples: Employment Agreement (Policy Management Systems Corp)

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