Execution and Revocation Period Clause Samples
The 'Execution and Revocation Period' clause defines the timeframe during which a party can formally execute (sign) an agreement and the period within which they may revoke or withdraw their acceptance. Typically, this clause specifies the exact number of days or a deadline by which the agreement must be signed and, if applicable, the window during which a party can change their mind and cancel their commitment. Its core practical function is to provide certainty and structure to the contracting process, ensuring both parties are aware of their rights and obligations regarding when the agreement becomes binding and when it can still be rescinded.
Execution and Revocation Period. If ▇▇▇▇▇▇▇ chooses to accept the terms of this Agreement, ▇▇▇▇▇▇▇ must sign this Agreement and deliver one original of the Agreement to ▇▇▇▇▇ ▇▇▇▇▇▇▇ within the timeframe stated in Section 10. ▇▇▇▇▇▇▇ must also sign and deliver one original of the Second Release attached to this Agreement within three (3) days after the Separation Date. ▇▇▇▇▇▇▇ understands that he may revoke this Agreement and the Second Release within seven (7) days following ▇▇▇▇▇▇▇'▇ execution of each. This Agreement and the Company’s obligation to provide the Separation Benefits shall not become effective or enforceable against the Company until the eighth (8th) day after ▇▇▇▇▇▇▇’▇ execution and delivery to the Company of the attached Second Release, provided that ▇▇▇▇▇▇▇ has also signed and delivered the Agreement and has not revoked either one. Any revocation must be delivered, in writing, to the Company as provided herein, within seven (7) days after execution. If the Agreement and Second Release are not signed and returned by such dates, the offer and payments and benefits presented in this Agreement shall be deemed revoked. If ▇▇▇▇▇▇▇ revokes this Agreement or the Second Release after signing, ▇▇▇▇▇▇▇ shall be obligated to fully reimburse the Company for any and all portions of the compensation, benefits and vesting of equity provided under Section 2(a) for the Transition Period, as well as the Separation Benefits received pursuant to Paragraph 2(b) of this Agreement.
Execution and Revocation Period. Pursuant to the Older Workers Benefit Protection Act ("OWBPA"), you hereby acknowledge that:
a) By executing this Agreement, you waive any and all rights and/or claims, if any, that you may have against Proterra under the Age Discrimination in Employment Act of 1967, 29 U.S.C. § 626, et seq. ("ADEA'');
b) That this Agreement has been written in a manner calculated to be understood by you, and is in fact understood by you;
c) That the aforementioned waiver reflects specifically, but is not limited to, all rights or claims, if any, that you may have against Proterra arising under the ADEA;
d) That you are not waiving rights and claims that you may have under the ADEA against Proterra that may arise after the date on which this Agreement is executed;
e) That you are waiving rights and claims that you may have under the ADEA, if any, only in exchange for consideration in addition to anything of value to which you are already entitled;
f) That you were advised and have had the opportunity to consult with an attorney of your choice prior to executing this Agreement;
g) That you have been given a period of 21 days from the date on which you received this Agreement, not counting the day upon which you received the Agreement, within which to consider whether to sign this Agreement;
h) That if you wish to execute this Agreement prior to the expiration of the 21-day period set forth in subsection (g) of this Paragraph 15, you may do so;
i) That you have been given a period of 1 days following the execution of this Agreement to revoke your waiver of all claims, if any, under the ADEA, and your release of any claims under the ADEA shall not become effective or enforceable until the revocation period has expired without you revoking your waiver of all claims under the ADEA;
j) To revoke your waiver of all claims under the ADEA, you understand that you must deliver a written, signed statement that you revoke your waiver of all claims under the ADEA to Proterra by hand or by mail within the1· day revocation period. The revocation must be postmarked within the period stated above and properly addressed to Proterra at the following address: ▇▇▇▇▇ ▇▇▇▇▇▇, Vice President, Human Resources, Proterra Inc, ▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇; and
k) That if you revoke your waiver of claims under the ADEA then you will not be entitled to any of the severance benefits described in Paragraph 4.
Execution and Revocation Period. If Executive chooses to accept the terms of this Agreement, Executive must sign this Agreement and deliver one original of the Agreement to ▇▇▇▇▇ ▇▇▇▇▇▇▇ within the timeframe stated in Section 10 above. Executive must also sign and deliver one original of the Second Release attached to this Agreement within three (3) days after the Separation Date. Executive understands that he may revoke this Agreement and the Second Release within seven (7) days following Executive's execution of each. This Agreement and the Company's obligation to provide the Separation Benefits shall not become effective or enforceable against the Company until the eighth (8th) day after Executive's execution and delivery to the Company of the attached Second Release provided that Executive has also signed and delivered the Agreement and has not revoked either one. Any revocation must be delivered, in writing, to the Company as provided herein, within seven (7) days after execution.