Common use of Limitation of Actions and Release of Claims Clause in Contracts

Limitation of Actions and Release of Claims. Notwithstanding anything to the contrary contained herein, no legal action shall be brought and no cause of action shall be asserted by or on behalf of Employer, any affiliate or subsidiary of Employer or any other enterprise that Executive was serving as a director, officer, employee or agent at the request of Employer against Executive, or Executive's spouse, heirs, executors of administrators after the expiration of two years from the date Executive ceases (for any reason) to serve in any one or more of the capacities covered by this Agreement, and any claim or cause of action of Employer, its affiliates or subsidiaries or any other enterprise shall be extinguished and deemed released unless asserted by the filing of a legal action within the two-year period.

Limitation of Actions and Release of Claims. Notwithstanding anything to the contrary contained herein, no legal action shall be brought and no cause of action shall be asserted by or on behalf of Employer, any affiliate or subsidiary of Employer or any other enterprise that Executive was serving as a director, officer, employee or agent at the request of Employer against Executive, or Executive's spouse, heirs, executors of administrators after the expiration of two years from the date Executive ceases (for any reason) to serve in any one or more of the capacities covered by this Agreement, and any claim or cause of action of Employer, its affiliates or subsidiaries or any such other enterprise shall be extinguished and deemed released unless asserted by the filing of a legal action within the such two-year period.