Common use of Post-Termination Release Clause in Contracts

Post-Termination Release. Notwithstanding any other provisions of this Agreement, it shall be a condition to Employee’s right to receive any payments or benefits pursuant to this Section 6 (with the exception of the Accrued Payments) that Employee (or Employee’s estate, as applicable) execute and deliver to the Company, and not revoke, an effective waiver and release agreement in the form attached hereto as Exhibit A (the “Release”) within the time period set forth therein (and in all events within 50 days following Employee’s termination of employment) with all periods for revocation thereof having expired (the “Severance Conditions”). The form of the Release may be modified by the Company to reflect changes required by applicable law or regulations.

Appears in 3 contracts

Samples: Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.), Employment Agreement (Oasis Petroleum Inc.)

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Post-Termination Release. Notwithstanding any other provisions of this Agreement, it shall be a condition to Employee’s right to receive any payments or benefits pursuant to this Section 6 (with the exception of the Accrued Payments) that Employee (or Employee’s estateestate or representative, as applicable) execute and deliver to the Company, and not revoke, an effective waiver and release agreement in the form attached hereto as Exhibit A (the “Release”) within the time period set forth therein (and in all events within 50 days following Employee’s termination of employment) with all periods for revocation thereof having expired (the “Severance Conditions”). The form of the Release may be modified by the Company to reflect changes required by applicable law or regulations.

Appears in 1 contract

Samples: Employment Agreement (Oasis Petroleum Inc.)

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