Common use of Executive Acknowledgements Clause in Contracts

Executive Acknowledgements. Executive understands and agrees that he: (a) Has carefully read and fully understands all of the provisions of this Release; (b) Was advised and is hereby advised in writing to consider the terms of this Release and to consult with an attorney of his choice prior to executing this Release; (c) Has been offered a full twenty-one (21) days from notice of the termination of his employment with Soffe and the delivery of this Release to consider the terms of this Release, and having had adequate opportunity to consider the terms and consult with advisors of his choice, has elected to waive the 21-day period and sign the Release as of the date hereof; (d) Is, through this Release, releasing the Soffe Parties from any and all claims he may have against the Soffe Parties that arose from events occurring on or before the date this Agreement is executed, including but not limited to claims under the Age Discrimination in Employment Act (ADEA), as amended; (e) Is receiving valid consideration beyond anything of value to which Executive already is entitled; (f) Knowingly and voluntarily agrees to all of the terms set forth in this Release; (g) Knowingly and voluntarily intends to be legally bound by the same; and (h) Has a full seven (7) days following his execution of this Release to revoke this Release and has been and hereby is advised in writing that this Release shall not become effective or enforceable until the revocation period has expired. Revocation must occur by delivery of a letter of revocation to the Chair of the Board of Directors of Soffe.

Executive Acknowledgements. By execution of this Agreement, Executive understands and agrees acknowledgements that hethe following statements are true: (a) Has carefully 17.1 Executive has been given the opportunity to and has, in fact, read this entire Agreement, and fully understands has had all of questions regarding its meaning answered to Executive’s satisfaction; 17.2 Executive has been advised to seek and has been given the provisions full opportunity to seek independent advice and/or counsel; 17.3 The payments and benefits that the Company has agreed to provide in Sections 1 and 4 of this ReleaseAgreement are, in whole or in part, payments and benefits to which Executive would not be otherwise entitled in the absence of this Agreement; (b) Was advised 17.4 The content of this Agreement is written in plain language, is fully understood, and it is hereby advised also understood that it contains a FULL WAIVER OF ALL CLAIMS; 17.5 The FULL WAIVER OF ALL CLAIMS is given in writing to consider return for valuable consideration as provided under the terms of this Release Agreement, including but not limited to the payments set forth in Sections 1 and to consult with an attorney of his choice prior to executing this Release4 above; (c) Has 17.6 This Agreement is knowingly and voluntarily entered into and no representations have been offered a full made to induce or influence Executive’s execution of this Agreement other than those contained herein; 17.7 Executive acknowledges having been given at least twenty-one (21) days from notice of the termination of his employment with Soffe and the delivery of this Release to consider the terms of this Release, and having had adequate opportunity to consider the terms and consult with advisors of his choice, has elected to waive the 21-day period and sign the Release as of the date hereof; (d) Is, through this Release, releasing the Soffe Parties from any and all claims he may have against the Soffe Parties that arose from events occurring on or before the date conditions contained in this Agreement is executed, including but not limited to claims under the Age Discrimination in Employment Act (ADEA), as amended; (e) Is receiving valid consideration beyond anything of value to which Executive already is entitled; (f) Knowingly before signing and voluntarily agrees to all of the terms set forth in this Release; (g) Knowingly and voluntarily intends to be legally bound by the same; and (h) Has a full acknowledges that he has seven (7) days following his execution of this Release Agreement to revoke his agreement to this Agreement. Executive understands that if he wishes to revoke this Release and has been and hereby is advised release, he must send the revocation in writing by overnight mail to Xxxxx X. Xxxxxxx, Executive Vice President and Chief Financial Officer, 0000 Xxxxxxx Xxxxx, Xxxx xx Xxxxxxx, Xxxxxxxxxxxx 00000; 17.8 Executive has not heretofore assigned or transferred or purported to assign or transfer to any person or entity any claim or portion thereof or interest therein which is released, acquitted or discharged in this Agreement; 17.9 The Company is not obligated to provide to Executive any money or consideration from the Company other than the money and consideration promised in Sections 1 and 4 of this Agreement; 17.10 Executive acknowledges that this Release he shall have a period of twelve (12) months after the Separation Date in which to exercise his outstanding stock options in the Company stock, all of which will be vested and exercisable as of the Separation Date, and that after such twelve-month period, such stock options shall terminate and shall no longer be exercisable by Executive. 17.11 Executive has not become effective relied upon any advice whatsoever from the Company or enforceable until the revocation period has expired. Revocation must occur by delivery of a letter of revocation its attorneys as to the Chair taxability, whether pursuant to federal, state or local tax statutes, regulations or otherwise of the Board payments or considerations promised hereunder and, except for those taxes which the Company is obligated to pay, Executive is solely responsible and liable for any amount of Directors tax obligations arising from the payment of Soffethe sums specified in Sections 1 and 4 and all tax obligations, if any, will be paid in full by Executive. Executive agrees to indemnify and hold the Company harmless from and against any and all liabilities arising out of Executive’s failure to comply with this paragraph; 17.12 Executive acknowledges that, effective on the CEO Termination Date and the Separation Date, except as specifically provided herein, Executive will not be entitled to further participate in any benefits made available to employees of the Company; and 17.13 Executive has no pending Workers Compensation claim(s) against the Company and knows of no situations that might give rise to any such claim.

Executive Acknowledgements. Executive understands certifies and agrees that heacknowledges as follows: (a) Has carefully That Executive has read and fully understands all of the provisions terms of this ReleaseAgreement, and that Executive understands its terms and effects, including the fact that Executive has agreed to RELEASE AND FOREVER DISCHARGE the Company and each and every one of its affiliated entities from any legal action arising out of Executive’s employment relationship with the Company and the termination of that employment relationship; (b) Was advised That Executive has signed this Agreement voluntarily and knowingly in exchange for the consideration described herein, which Executive acknowledges is adequate and satisfactory to Executive and which Executive acknowledges is in addition to any other benefits to which Executive is otherwise entitled; (c) That Executive has been and is hereby advised in writing to consider the terms of this Release and to consult with an attorney of his choice prior to executing signing this ReleaseAgreement; (cd) Has been offered That Executive does not waive rights or claims that may arise after the date this Agreement is executed; (e) That the Company has provided Executive with a full period of twenty-one (21) days from notice of the termination of his employment with Soffe and the delivery of this Release within which to consider the terms of this ReleaseAgreement, and having had adequate opportunity to consider the terms and consult with advisors of his choice, that Executive has elected to waive the 21-day period and sign the Release as of signed on the date hereof; (d) Is, through this Release, releasing the Soffe Parties from any and all claims he may have against the Soffe Parties indicated below after concluding that arose from events occurring on or before the date this Agreement is executed, including but not limited satisfactory to claims under the Age Discrimination in Employment Act (ADEA), as amended; (e) Is receiving valid consideration beyond anything of value to which Executive already is entitled;Executive; and (f) Knowingly Executive acknowledges that this Agreement may be revoked by Executive within seven (7)-days after execution by giving written notice of such revocation by hand delivery, fax or email to the Company’s Executive Vice President and voluntarily agrees to all Chief Legal Officer within said seven (7)-day period, and it shall not become effective until the expiration of such seven (7)-day revocation period. In the terms set forth in event of a timely revocation by Executive, this Release;Agreement shall be deemed null and void and the Company shall have no obligations hereunder. (g) Knowingly and voluntarily intends to be legally bound by The unenforceability or nullity of one or more of the same; and (h) Has a full seven (7) days following his execution provisions of this Release to revoke this Release and has been and hereby is advised in writing that this Release Agreement shall not become effective render any other provision unenforceable, null or enforceable until the revocation period has expired. Revocation must occur by delivery of a letter of revocation to the Chair of the Board of Directors of Soffevoid.