Common use of Effective Date; Right of Review and Revocation Clause in Contracts

Effective Date; Right of Review and Revocation. Employee acknowledges that the Company has advised him to consult with an attorney regarding this Second Agreement. Employee represents and agrees that he fully understands his right to discuss all aspects of this Second Agreement with his attorney and that he has carefully read, fully understands and voluntarily enters into this Second Agreement. Employee understands that he should not sign this Second Agreement until after the Termination Date, and that he will have twenty-one (21) days after the Termination Date to sign this Second Agreement and accept the terms set forth herein. Employee further agrees that any changes to this Second Agreement, whether material or immaterial, do not restart the running of the 21 day period. Employee may, if he so desires, accept the Company’s offer and return a fully executed copy of this Second Agreement prior to the expiration of the 21 day period should he choose to do so. Such executed copy of this Second Agreement shall be sent to Harbinger Group Inc., 000 Xxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000, Attention: President. Employee acknowledges that: (i) if he signs this Second Agreement after the 21 day period has expired, then this Second Agreement will be voidable in the sole discretion of the Company, upon written notice to Employee, and (ii) Employee shall not be paid any portion of the Transition Agreement Payments if the Second Agreement does not become effective within 60 days after such 21 day period has expired. Employee further understands that he has seven (7) days after his execution of this Second Agreement to revoke his acceptance of it by delivering to Harbinger Group Inc., 000 Xxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000, Attention: President, written notification of such revocation. So long as Employee has not effectively revoked this Second Agreement as set forth herein, this Second Agreement will become effective and irrevocable on the eighth day after Employee signs it (the “Effective Date”). In compliance with the Older Workers Benefit Protection Act (P.L. 101-433), the Company and Employee do hereby acknowledge and agree as follows: (a) That this Second Agreement specifically applies to any rights or claims Employee may have against the Company or any party released herein under the ADEA; (b) That this Second Agreement does not purport to waive rights or claims that may arise from acts or events occurring after the date that this Second Agreement is executed by the parties; (c) That this Second Agreement shall be revocable for a seven (7) day period following execution of this Second Agreement by Employee, and accordingly, this Second Agreement shall not become effective or enforceable until the expiration of this seven (7) day revocation period; and (d) That Employee has been advised by the Company to consult with an attorney prior to signing this Second Agreement, has consulted with an attorney, and has been given a period of at least twenty-one (21) days within which to consider whether to sign this Second Agreement and that, if Employee executes this Second Agreement prior to such twenty-first (21st) day, he acknowledges that he has waived his right to consider the Second Agreement for the remainder of such period.

Effective Date; Right of Review and Revocation. Employee acknowledges that the Company has advised him to consult with an attorney regarding this Second Agreement. Employee represents and agrees that he fully understands his right to discuss all aspects of this Second Agreement with his attorney and that he has carefully read, fully understands and voluntarily enters into this Second Agreement. Employee understands that he should not sign this Second Agreement until after the Termination Date, and that he will have twenty-one (21) days after the Termination Date from receipt of this Agreement to sign this Second Agreement and accept the terms set forth herein. Employee further agrees that any changes to this Second Agreement, whether material or immaterial, do not restart the running of the 21 day period. Employee may, if he so desires, accept the Company’s offer and return a fully executed copy of this Second Agreement prior to the expiration of the 21 day period should he choose to do so. Such executed copy of this Second Agreement shall be sent to Harbinger Group Inc., 000 Xxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000, Attention: President. Employee acknowledges that: (ia) if he signs this Second Agreement after the 21 day period has expired, then this Second Agreement will be voidable in the sole discretion of the Company, upon written notice to Employee, and (iib) Employee shall not be paid any portion of the Transition Agreement Payments if the Second this Agreement does not become effective within 60 days after such 21 day period has expired. Employee further understands that he has seven (7) days after his execution of this Second Agreement to revoke his acceptance of it by delivering to Harbinger Group Inc., 000 Xxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000, Attention: President, written notification of such revocation. So long as Employee has not effectively revoked this Second Agreement as set forth herein, this Second Agreement will become effective and irrevocable on the eighth day after Employee signs it (the “Effective Date”). In compliance with the Older Workers Benefit Protection Act (P.L. 101-433), the Company and Employee do hereby acknowledge and agree as follows: (a) That this Second Agreement specifically applies to any rights or claims Employee may have against the Company or any party released herein under the ADEA; (b) That this Second Agreement does not purport to waive rights or claims that may arise from acts or events occurring after the date that this Second Agreement is executed by the parties; (c) That this Second Agreement shall be revocable for a seven (7) day period following execution of this Second Agreement by Employee, and accordingly, this Second Agreement shall not become effective or enforceable until the expiration of this seven (7) day revocation period; and (d) That Employee has been advised by the Company to consult with an attorney prior to signing this Second Agreement, has consulted with an attorney, and has been given a period of at least twenty-one (21) days within which to consider whether to sign this Second Agreement and that, if Employee executes this Second Agreement prior to such twenty-first (21st) day, he acknowledges that he has waived his right to consider the Second this Agreement for the remainder of such period.