RELEASE; CONTINUING OBLIGATIONS Clause Samples
The "Release; Continuing Obligations" clause serves to discharge one or more parties from certain liabilities or claims, while specifying that some obligations will persist beyond the release. In practice, this means that after a contract ends or a dispute is settled, parties may no longer be held responsible for past actions or claims covered by the release, but specific duties—such as confidentiality, indemnification, or payment obligations—remain enforceable. This clause ensures that while parties are freed from most future claims, essential responsibilities that are intended to survive the agreement continue to bind them, thereby providing clarity and protecting ongoing interests.
RELEASE; CONTINUING OBLIGATIONS. Employee acknowledges and agrees that the applicable payments set forth in Section 9 of this Agreement constitute liquidated damages for any claim by Employee of breach of contract or any other matters related to the non-renewal of this Agreement or termination of Employee’s employment by the Company hereunder. Furthermore, in order to receive any of the applicable payments set forth in Section 9 above upon the termination of his/her employment, and as an express condition to the Company’s obligation to make such payments, (a) within 30 days following the Employee’s termination date, (i) Employee shall execute and agree to be bound by an agreement providing for the waiver and general release of any and all claims arising out of or relating to Employee’s employment and termination of employment (the “Release”), which Release shall be in such form as PRA’s Office of General Counsel may require, and (ii) to the extent the Release includes a statutory revocation/rescission period, such period shall have expired without Employee having revoked the Release; and (b) Employee shall agree to continue to be bound by, and shall continue to comply with, all surviving obligations of Employee hereunder, including, without limitation, Employee’s obligations under Sections 10, 11 and 12 hereof.
RELEASE; CONTINUING OBLIGATIONS