Common use of Exclusivity of Benefits; Release of Claims Clause in Contracts

Exclusivity of Benefits; Release of Claims. Subject to Section 12, any payments provided under this Section 8 shall be in lieu of any salary continuation arrangements or any other severance-type payments under any other severance program, policy or practice of the Company or its Affiliates. In order to be entitled to the payments, rights and other entitlements in this Section 8, the Executive shall be required (i) to execute and timely deliver a global release of all known or unknown claims (“Release”) in favor of the Company and its Affiliates, and their officers, directors, attorneys, employees, representatives, agents, successors and assigns, including, without limitation, any age discrimination or retaliation claims under the Age Discrimination in Employment Act and the Texas Labor Code, in the form and subject to the terms as provided to Executive by the Company; and (ii) to execute the Release and not revoke the Release within the applicable time periods specified in the Release. Except as otherwise provided in Section 8, any severance amounts described in Section 8 shall be paid within 30 calendar days after the Release becomes irrevocable; provided, however, that if the time period described in the Release for execution and revocation of the Release begins in one taxable year and ends in a second taxable year, such payments and other rights shall not commence until the second taxable year.

Exclusivity of Benefits; Release of Claims. Subject to Section 1213, any payments provided under this Section 8 9 shall be in lieu of any salary continuation arrangements or any other severance-type payments under any other severance program, policy or practice of the Company or its Affiliates. In order to be entitled to the payments, rights and other entitlements in this Section 89, the Executive shall be required (i) to execute and timely deliver a global release of all known or unknown claims (“Release”) in favor of the Company and its Affiliates, and their officers, directors, attorneys, employees, representatives, agents, successors and assigns, including, without limitation, any age discrimination or retaliation claims under the Age Discrimination in Employment Act and the Texas Labor Code, in the form and subject to the terms as provided to Executive by the Company; and (ii) to execute the Release and not revoke the Release within the applicable time periods specified in the Release. Except as otherwise provided in Section 89, any severance amounts described in Section 8 9 shall be paid within 30 calendar days after the Release becomes irrevocable; provided, however, that if the time period described in the Release for execution and revocation of the Release begins in one taxable year and ends in a second taxable year, such payments and other rights shall not commence until the second taxable year.