Execution of General Release. For the avoidance of doubt, the Company shall not be obligated to pay Executive any severance payments unless a General Release has been timely executed and delivered by Executive and such General Release has become effective and irrevocable.
Execution of General Release. In accordance with Section 4(b), Section 4(c) and Section 4(d), to receive the payments set forth in those Sections, Executive’s or Executive’s estate’s, if applicable, General Release must be executed, effective and irrevocable before the expiration of 60 days after the date of termination. The payments specified in these Sections will begin as soon as practicable (not to exceed 30 days) after the General Release is executed, effective and irrevocable, but if the 60-day period could span two (2) tax years, the payments must be made in the later year. For example, if the Company terminates Executive’s employment without Cause on December 15, Executive has 60 days—until February 13 —for a General Release to be sign and become effective and irrevocable. In this case, payments due in accordance with Section 4(b), Section 4(c) or Section 4(d) may not begin until the following year, even if the release was signed, effective and irrevocable in December. If Executive’s or Executive’s estate’s, if applicable, General Release is not executed, effective and irrevocable before the end of the 60-day-period, then the Executive and Executive’s estate forfeit, on behalf of Executive and all who might claim through Executive, the payments that would otherwise be due under the applicable Section of this Agreement.
Execution of General Release. Executive acknowledges and agrees that he is not eligible to receive any Additional Payments unless and until he executes a general release agreement and covenant not to xxx, in the form attached hereto at Exhibit C.
Execution of General Release. On expiration of the Term, you agree to execute the General Release and Covenant Not to Xxx attached hereto as Exhibit A (the “Release”). For avoidance of doubt, the parties acknowledge and agree that the Release does not waive or release (a) any rights under this Agreement, (b) any right to claim benefits under employee benefit plans (including welfare benefit, qualified and nonqualified retirement and equity-related plans, (c) any right of indemnification as to advancement of legal fees (including without limitation indemnification, legal defense and related rights under the Company’s and any other Released Parties’ (as defined in the Release) certificate of incorporation, by-laws any other such organic documents, any other plan or agreement or at law, or (d) any rights under directors and officers’ liability insurance policies.
Execution of General Release. Xx. Xxxxxx agrees that at the end of the work day on April 30, 2009 he will re-execute the General Release attached hereto as Exhibit C.
Execution of General Release. Concurrently with execution of any renewal agreement, the Licensee shall execute a general release of all claims against the Licensor and its affiliates and current and former associates, officers, directors, shareholders, employees, agents and representatives.
Execution of General Release. AVS and the Company shall use their ---------------------------- best efforts to cause the LC Lenders to execute and deliver, a general, mutual release with Bank of America, N.A., as agent and the other lenders under that certain Amended and Restated Loan and Security Agreement dated as of December 14, 1998 (as amended, the "Loan Agreement") among Xxxxxxxxx, certain of its subsidiaries named therein, the financial institutions party to the Loan Agreement from time to time, and Bank of America, N.A., as agent, which general, mutual release shall cover any and all claims arising through the Resolution Closing Date and be in form reasonably and mutually satisfactory to Bank of America, N.A. and the LC Lenders; provided, however, that neither AVS nor the -------- ------- Company shall be obligated to incur any cost or expense in connection with securing such release from the LC Lenders. This condition shall not be waivable by Xxxxxxxxx except with the prior written consent of Bank of America, N.A.
Execution of General Release. Executive shall sign the Release on or after the Separation Date, but no later than forty-five (45) days following the Separation Date. Laureate shall have no obligation to provide any payments or benefits hereunder, including the Severance Payment and COBRA payments, until the Release is executed and delivered to the Laureate and the revocation period described therein has ended without a valid revocation (“Revocation Date”). Executive understands and agrees that if he does not sign the Release, this Agreement shall be void.
Execution of General Release. In exchange for the separation benefits being provided pursuant to Sections 4.2(b) through 4.2(i) and 5.2 through 5.7 above, as applicable (the "Separation Benefits"), you or the representative of your estate, if applicable, must execute a full and final General Release of Claims substantially in the form of agreement provided to you by the Corporation (the "Release") and the Release must become effective following the expiration of the seven (7) day revocation period set forth in the Release (the “Release Effective Date”). You or the representative of your estate, if applicable, must execute the Release, and the Release must no longer be subject to revocation within twenty-eight (28) days (fifty-two (52) days in the case of a group termination) after your Date of Termination (the “Release Consideration Period”). Notwithstanding any other provision of this Agreement to the contrary, except as otherwise required pursuant to Section 7, to the extent that the Release Consideration Period spans two (2) calendar years, any amount otherwise payable pursuant to Sections 4.2(b) through 4.2(i) and 5.2 through 5.7 that is subject to and not otherwise exempt from Section 409A will be paid in the second calendar year. In the event that you or the representative of your estate, as the case may be do not sign the Release, or the Release is not effective because it is still subject to revocation by you or the representative of your estate, on such twenty-eighth (28th) or fifty-second (52nd) day as the case may be, any Separation Benefits not yet paid or provided will be forfeited and you or the representative of your estate must promptly repay any previously paid or provided Separation Benefits to the Corporation.
Execution of General Release. The Company shall execute and deliver a general release in form and substance acceptable to Purchaser.
