Common use of Employee Agreement and Release Prior to Receipt of Benefits Clause in Contracts

Employee Agreement and Release Prior to Receipt of Benefits. Upon the occurrence of a Covered Termination, and prior to the receipt of any benefits under this - 3 - Agreement on account of the occurrence of a Covered Termination, Executive shall, as of the date of a Covered Termination, execute an employee agreement and release in the form attached hereto as Exhibit A. Such employee agreement and release shall specifically relate to all of Executive’s rights and claims in existence at the time of such execution and shall confirm Executive’s obligations under the Company’s proprietary information agreement (which Executive executed in favor of Elantec prior to the Merger and which shall inure to the benefit of the Company and be fully enforceable by, and apply in all respects with respect to, the Company). It is understood such employee release and agreement shall comply with applicable law. In the event Executive does not execute such release and agreement within the period required by applicable law, or if Executive revokes such employee agreement and release within the period permitted by applicable law, no benefits shall be payable under this Agreement and this Agreement shall be null and void.

Employee Agreement and Release Prior to Receipt of Benefits. Upon the occurrence of a Covered Termination, and prior to the receipt of any benefits under this - 3 - Agreement on account of the occurrence of a Covered Termination, Executive shall, as of the date of a Covered Termination, execute an employee agreement and release in the form attached hereto as Exhibit A. A . Such employee agreement and release shall specifically relate to all of Executive’s rights and claims in existence at the time of such execution and shall confirm Executive’s obligations under the Company’s proprietary information agreement (which Executive executed in favor of Elantec prior to the Merger and which shall inure to the benefit of the Company and be fully enforceable by, and apply in all respects with respect to, the Company). It is understood such employee release and agreement shall comply with applicable law. In the event Executive does not execute such release and agreement within the period required by applicable law, or if Executive revokes such employee agreement and release within the period permitted by applicable law, no benefits shall be payable under this Agreement and this Agreement shall be null and void.

Employee Agreement and Release Prior to Receipt of Benefits. Upon the occurrence of a Covered Termination, and prior to the receipt of any benefits under this - 3 - Agreement on account of the occurrence of a Covered Termination, Executive shall, as of the date of a Covered Termination, execute an employee agreement and release in the form attached hereto as Exhibit A. A; provided that such agreement and release have become binding and effective in accordance with the terms thereof on or before the forty-fifth (45th) day following the date of the Executive's termination of employment. Such employee agreement and release shall specifically relate to all of Executive’s rights and claims in existence at the time of such execution and shall confirm Executive’s obligations under the Company’s standard form of proprietary information agreement (which Executive executed in favor of Elantec prior to the Merger and which shall inure to the benefit of the Company and be fully enforceable by, and apply in all respects with respect to, the Company)agreement. It is understood such employee release and agreement shall comply with applicable law. In the event Executive does not execute such release and agreement within the period required by applicable law, or if Executive revokes such employee agreement and release within the period permitted by applicable law, no benefits shall be payable under this Agreement and this Agreement shall be null and void.