Common use of General Release Requirement Clause in Contracts

General Release Requirement. As a condition precedent to Executive’s entitlement to any Severance Benefits, Executive (or as applicable, Executive’s heirs or estate) must execute and effectuate a general release agreement (“General Release Agreement”) satisfactory to Company, within forty-five (45) days of the Termination Date, that may include without limitation, terms (as applicable) of (a) Executive’s (or as applicable, Executive’s heirs’ or estate’s) general release of Company (with a broad definition of claims released); (b) understanding of General Release Agreement; (c) no Company admission of liability; (d) Executive revocation rights (only if required by law); (e) confidentiality of General Release Agreement; (f) severance payments and benefits contingent on Executive compliance with Sections 8 and 9 of this Agreement; (g) return of Company property; and (h) liquidated damages in the amount of ninety percent (90%) of Severance Benefits actually paid, in the event of Executive’s breach of the terms of Sections 8 and/or 9 of this Agreement. For purposes of this Agreement, the “Release Date” shall be defined as the date that is sixty (60) days from the Termination Date.

General Release Requirement. As a condition precedent to Executive’s entitlement to any Severance Benefits, Executive (or as applicable, Executive’s heirs or estate) must execute and effectuate a general release agreement (“General Release Agreement”) satisfactory to Company, within forty-five (45) days of the Termination Date, that may include without limitation, terms (as applicable) of (a) Executive’s (or as applicable, Executive’s heirs’ or estate’s) general release of Company (with a broad definition of claims released); (b) understanding of General Release Agreement; (c) no Company admission of liability; (d) Executive revocation rights (only if required by law)rights; (e) confidentiality of General Release Agreement; (f) severance payments and benefits contingent on Executive compliance with Sections 8 and 9 of this Agreement; (g) return of Company property; and (h) liquidated damages in the amount of ninety percent (90%) of Severance Benefits actually paid, in the event of Executive’s breach of the terms of Sections 8 and/or 9 of this Agreement. For purposes of this Agreement, the “Release Date” shall be defined as the date that is sixty (60) days from the Termination Date.

General Release Requirement. As a condition precedent to Executive’s entitlement to any Severance Benefits, Executive (or as applicable, Executive’s heirs or estate) must execute and effectuate a general release agreement (““ General Release AgreementAgreement ”) satisfactory to Company, within forty-five (45) days of the Termination Date, that may include without limitation, terms (as applicable) of (a) Executive’s (or as applicable, Executive’s heirs’ or estate’s) general release of Company (with a broad definition of claims released); (b) understanding of General Release Agreement; (c) no Company admission of liability; (d) Executive revocation rights (only if required by law)rights; (e) confidentiality of General Release Agreement; (f) severance payments and benefits contingent on Executive compliance with Sections 8 and 9 of this Agreement; (g) return of Company property; and (h) liquidated damages in the amount of ninety percent (90%) of Severance Benefits actually paid, in the event of Executive’s breach of the terms of Sections 8 and/or 9 of this Agreement. For purposes of this Agreement, the ““ Release DateDate ” shall be defined as the date that is sixty (60) days from the Termination Date.