Common use of Execution of Release of Claims Clause in Contracts

Execution of Release of Claims. Company shall not be obligated to pay Executive any of the severance payments or benefits described in this Section 4 unless and until Executive has executed (without revocation) a timely release of claims in a form that is acceptable to Company, and which includes standard and reasonable terms regarding items such as mutual non-disparagement, confidentiality, cooperation and the like, which must be provided to Executive within fifteen (15) days following separation from service, and signed by Executive and returned to Company no later than sixty (60) days following Executive’s separation from service (the “Review Period”), and which shall include a general release of claims against Company and its affiliated entities and each of their officers, directors, employees and others associated with Company and its affiliated entities. If Executive fails or refuses to return such agreement within the Review Period, Executive’s severance payments hereunder and benefits shall be forfeited.

Appears in 6 contracts

Samples: Executive Employment Agreement (Globe Photos, Inc.), Executive Employment Agreement (Globe Photos, Inc.), Executive Employment Agreement (Pulmatrix, Inc.)

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Execution of Release of Claims. Company shall not be obligated to pay Executive any of the severance payments or benefits described in this Section 4 unless and until Executive has executed (without revocation) a timely release of claims in a form that is acceptable to Company, and which includes standard and reasonable terms regarding items such as mutual non-disparagement, confidentiality, cooperation and the like, which must be provided to Executive within fifteen (15) days following separation from service, and signed by Executive must be effective and returned irrevocable prior to Company no later than sixty (60) days the 60th day following Executive’s separation from service (the “Review Period”), and which shall include a general release of claims against Company and its affiliated entities and each of their officers, directors, employees and others associated with Company and its affiliated entities. If Executive fails or refuses to return such agreement agreement, or revokes the agreement, within the Review Period, Executive’s severance payments hereunder and benefits shall be forfeited.

Appears in 4 contracts

Samples: Executive Employment Agreement (Orgenesis Inc.), Executive Employment Agreement (Akari Therapeutics PLC), Solicitation Agreement (Akari Therapeutics PLC)

Execution of Release of Claims. Company shall not be obligated to pay Executive any of the severance payments or benefits described in this Section 4 unless and until Executive has executed (without revocation) a timely release of claims in a form that is acceptable to Company, and which includes standard and reasonable terms regarding items such as mutual non-disparagement, confidentiality, cooperation and the like, which must be provided to Executive within fifteen (15) days following separation from service, and signed by Executive must be effective and returned irrevocable prior to Company no later than sixty (60) days the 60th day following Executive’s 's separation from service (the "Review Period"), and which shall include a general release of claims against Company and its affiliated entities and each of their officers, directors, employees and others associated with Company and its affiliated entities. If Executive fails or refuses to return such agreement agreement, or revokes the agreement, within the Review Period, Executive’s 's severance payments hereunder and benefits shall be forfeited.

Appears in 1 contract

Samples: Solicitation Agreement (Akari Therapeutics PLC)

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Execution of Release of Claims. Company shall not be obligated to pay Executive any of the severance payments or benefits described in this Section 4 unless and until Executive has executed (without revocation) a timely release of claims in a form that is reasonably acceptable to Company, and Company (which includes standard and reasonable terms regarding items such as mutual non-disparagement, confidentiality, cooperation and the likeshall contain no post employment obligations beyond those herein), which must be provided to Executive within fifteen (15) days following separation from service, and signed by Executive and returned to Company no later than sixty (60) days following Executive’s separation from service (the “Review Period”), and which shall include a general release of claims against Company and its affiliated entities and each of their officers, directors, employees and others associated with Company and its affiliated entities. If Executive fails or refuses to return such agreement within the Review Period, Executive’s severance payments hereunder and benefits shall be forfeited.

Appears in 1 contract

Samples: Executive Employment Agreement (Pulmatrix, Inc.)

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