Common use of Release; Exclusive Remedy Clause in Contracts

Release; Exclusive Remedy. (a) This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any Company obligation to the Executive pursuant to Section 5.3, the Executive (or his estate or personal representative, as applicable) shall, upon or promptly following his last day of employment with the Company, provide the Company with a valid, executed written release agreement in the form attached hereto as Exhibit C (with such changes as may be reasonably required to such form in order to make the release enforceable and otherwise compliant with applicable law) (the “Release”), and such Release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall provide the Release to the Executive not later than seven (7) days following the Termination Date, and the Executive shall be required to execute and return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make the Release maximally enforceable under applicable law) after the Company provide the form of Release to the Executive.

Appears in 2 contracts

Samples: Employment Agreement (Isos Acquisition Corp.), Employment Agreement (Isos Acquisition Corp.)

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Release; Exclusive Remedy. (a) This Section 5.4 1.2 shall apply notwithstanding anything else contained in this Agreement or any stock option or other equity-based award agreement to the contrary. As a condition precedent to any Company obligation to the Executive Employee pursuant to Section 5.31.1(b) or any other obligation to accelerate vesting of any equity-based award in connection with the termination of the Employee’s employment, the Executive (or his estate or personal representative, as applicable) shall, upon or promptly following his last day of employment with the Company, Employee shall provide the Company with a valid, executed written general release agreement in a form acceptable to the form attached hereto as Exhibit C (with such changes as may be reasonably required to such form in order to make the release enforceable and otherwise compliant with applicable law) Company (the “Release”), and such Release shall have not been revoked by the Executive Employee pursuant to any revocation rights afforded by applicable law. The Company shall provide the final form of Release to the Executive Employee not later than seven (7) days following the Termination Severance Date, and the Executive Employee shall be required to execute and return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make the Release maximally enforceable under applicable law) after the Company provide provides the form of Release to the ExecutiveEmployee.

Appears in 1 contract

Samples: Severance Agreement (Cti Biopharma Corp)

Release; Exclusive Remedy. (a) This Section 5.4 2 shall apply notwithstanding anything else contained in this Agreement to the contraryAgreement. As a condition precedent to any Company obligation to the Executive pursuant to Section 5.31(b), the Executive (or his estate or personal representative, as applicable) shall, upon or promptly following his last day of employment with the Company, shall provide the Company with a valid, valid executed written general release agreement in substantially the form attached hereto as Exhibit C (with such changes as may be reasonably required to such form in order to make the release enforceable and otherwise compliant with applicable law) A (the "Release"), and such Release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall provide the final form of Release to the Executive not later than seven (7) days following the Termination Severance Date, and the Executive shall be required to execute and return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make the Release maximally enforceable under applicable law) after the Company provide provides the final form of Release to the Executive. If such Release is not provided within such time period or is revoked, then the Executive shall forfeit any payments or benefits that otherwise would have been provided under Section 1(b).

Appears in 1 contract

Samples: Severance Agreement (Emulex Corp /De/)

Release; Exclusive Remedy. (a) This Section 5.4 3 shall apply notwithstanding anything else contained in this Agreement to the contraryAgreement. As a condition precedent to any Company obligation to the Executive pursuant to Section 5.32(b), the Executive (or his estate or personal representative, as applicable) shall, upon or promptly following his last day of employment with the Company, shall provide the Company with a valid, executed written general release agreement in substantially the form attached hereto as Exhibit C (with such changes as may be reasonably required to such form in order to make the release enforceable and otherwise compliant with applicable law) A (the “Release”), and such Release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall provide the final form of Release to the Executive not later than seven (7) days following the Termination Severance Date, and the Executive shall be required to execute and return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make the Release maximally enforceable under applicable law) after the Company provide provides the form of Release to the Executive. If such Release is not provided within such time period or is revoked, then the Executive shall forfeit any payments or benefits that otherwise would have been provided under Section 2 (b).

Appears in 1 contract

Samples: Severance Agreement (Emulex Corp /De/)

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Release; Exclusive Remedy. (a) This Section 5.4 10 shall apply notwithstanding anything else contained in this Agreement to the contraryAgreement. As a condition precedent to any Company obligation to the Executive pursuant to Section 5.39(b) or 6(d), the Executive (or his estate or personal representative, as applicable) shall, upon or promptly following his last day of employment with the Company, shall provide the Company with a valid, executed written general release agreement in substantially the form attached hereto as Exhibit C (with such changes as may be reasonably required to such form in order to make the release enforceable and otherwise compliant with applicable law) A (the “Release”), and such Release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall provide the final form of Release to the Executive not later than seven (7) days following the Termination Severance Date, and the Executive shall be required to execute and return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make the Release maximally enforceable under applicable law) after the Company provide provides the form of Release to the Executive. If such Release is not provided within such time period or is revoked, then the Executive shall forfeit any payments or benefits that otherwise would have been provided under Sections 9(b) or 6(d).

Appears in 1 contract

Samples: Employment Agreement (Emulex Corp /De/)

Release; Exclusive Remedy. (a) This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any Company obligation to the Executive pursuant to Section 5.3, the Executive (or his estate or personal representative, as applicable) shall, upon or promptly following his last day of employment with the Company, provide the Company with a valid, executed written release agreement in the form attached hereto as Exhibit C B (with such changes as may be reasonably required to such form in order to make the release enforceable and otherwise compliant with applicable law) (the “Release”), and such Release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall provide the Release to the Executive not later than seven (7) days following the Termination Date, and the Executive shall be required to execute and return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make the Release maximally enforceable under applicable law) after the Company provide provided the form of Release to the Executive.

Appears in 1 contract

Samples: Employment Agreement (Bowlero Corp.)

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