Common use of Effectiveness; Entire Agreement Clause in Contracts

Effectiveness; Entire Agreement. This Agreement shall become effective only upon our receipt from you prior to June 30, 2008 of a copy of this Agreement executed by you and the Company. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto; and any prior agreement of the parties hereto in respect of the subject matter contained herein, including, without limitation, any prior severance agreements, is hereby terminated and cancelled. Any of your rights hereunder are supplementary and shall be in addition to any rights you may otherwise have under benefit plans or agreements of the Company to which you are a party or in which you are a participant, including, but not limited to any rights you have under the Employment Agreement (including but not limited to compensation rights under §4(a) of the Employment Agreement), any Company sponsored employee benefit plans and stock options plans. Provisions of this Agreement shall not in any way abrogate your rights under such other plans and agreements including under the Employment Agreement. Any conflicts between the terms of this Agreement and the terms of the Employment Agreement shall be resolved by providing you, in your sole discretion, the option to elect under which agreement benefits are to be provided.

Effectiveness; Entire Agreement. This Agreement shall become effective only upon our receipt from you prior to June 30, 2008 [specify date] of a copy of this Agreement executed by you and the Company. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto; and any prior agreement of the parties hereto in respect of the subject matter contained herein, including, without limitation, any prior severance agreements, is hereby terminated and cancelled. [Without limiting the foregoing, you expressly agree that all rights and benefits held by you under [specify outstanding agreements and prevision thereof] shall terminate and have no force or effect upon the effectiveness of this Agreement. – add this prevision if employee is party to outstanding change in control agreement or provisions.] Any of your rights hereunder are supplementary and shall be in addition to any rights you may otherwise have under benefit plans or agreements of the Company to which you are a party or in which you are a participant, including, but not limited to any rights you have under the Employment Agreement (including but not limited to compensation rights under §4(a) of the Employment Agreement)to, any Company sponsored employee benefit plans and stock options plans. Provisions of this Agreement shall not in any way abrogate your rights under such other plans and agreements including under the Employment Agreement. Any conflicts between the terms of this Agreement and the terms of the Employment Agreement shall be resolved by providing you, in your sole discretion, the option to elect under which agreement benefits are to be providedagreements.