Common use of Release of Claims as Condition Clause in Contracts

Release of Claims as Condition. The Company's obligation to pay the separation allowance and provide all other benefits and rights referred to in Section 6(c) or (d) shall be conditioned upon the Executive having delivered to the Company within sixty (60) days after the Termination Date (the "Release Period") an executed full and unconditional release that is in substantially the same form as the "Release and Waiver" attached hereto as Exhibit A and that Executive does not revoke within the Release Period, provided that if the Release Period begins in one taxable year of the Executive and ends in another taxable year of the Executive, payments under Section 6(c) or (d) shall not begin until the beginning of the second taxable year of the Executive. If Executive fails to satisfy the requirements set forth in the immediately preceding sentence, the Executive shall forfeit his right to any separation allowance and any other benefits and rights set forth under Section 6(c) or (d) and CSL shall be relieved of any obligation to pay the Executive any amounts or provide the Executive any benefits under Section 6(c) or (d) other than the Accrued Payments. The foregoing notwithstanding, the Benefits Continuation shall be provided to Executive from and after the Termination Date, but shall discontinue in the event that the Release and Waiver is not delivered within the Release Period or if the Release and Waiver is revoked by Executive.

Appears in 2 contracts

Samples: Executive Employment Agreement (Capital Senior Living Corp), Executive Employment Agreement (Capital Senior Living Corp)

AutoNDA by SimpleDocs

Release of Claims as Condition. The Company's ’s obligation to pay the separation allowance and provide all other benefits and rights referred to in Section 6(c) or (d) shall be conditioned upon the Executive having delivered to the Company within sixty (60) days after the Termination Date (the "Release Period") an executed full and unconditional release that is in substantially the same form as the "Release and Waiver" attached hereto as Exhibit A and that Executive does not revoke within the Release Period, provided that if the Release Period begins in one taxable year of the Executive and ends in another taxable year of the Executive, payments under Section 6(c) or (d) shall not begin until the beginning of the second taxable year of the Executive. If Executive fails to satisfy the requirements set forth in the immediately preceding sentence, the Executive shall forfeit his right to any separation allowance and any other benefits and rights set forth under Section 6(c) or (d) and CSL SSL shall be relieved of any obligation to pay the Executive any amounts or provide the Executive any benefits under Section 6(c) or (d) other than the Accrued Payments. The foregoing notwithstanding, the Benefits Continuation shall be provided to Executive from and after the Termination Date, but shall discontinue in the event that the Release and Waiver is not delivered within the Release Period or if the Release and Waiver is revoked by Executive.

Appears in 1 contract

Samples: Executive Employment Agreement (Sonida Senior Living, Inc.)

Release of Claims as Condition. The Company's ’s obligation to pay the separation allowance and provide all other benefits and rights referred to in Section 6(c) or (d) shall be conditioned upon the Executive having delivered to the Company within sixty (60) days after the Termination Date (the "Release Period") an executed full and unconditional release that is in substantially the same form as the "Release and Waiver" attached hereto as Exhibit A and that Executive does not revoke within the Release Period, provided that if the Release Period begins in one taxable year of the Executive and ends in another taxable year of the Executive, payments under Section 6(c) or (d) shall not begin until the beginning of the second taxable year of the Executive. If Executive fails to satisfy the requirements set forth in the immediately preceding sentence, the Executive shall forfeit his right to any separation allowance and any other benefits and rights set forth under Section 6(c) or (d) and CSL shall be relieved of any obligation to pay the Executive any amounts or provide the Executive any benefits under Section 6(c) or (d) other than the Accrued Payments. The foregoing notwithstanding, the Benefits Continuation shall be provided to Executive from and after the Termination Date, but shall discontinue in the event that the Release and Waiver is not delivered within the Release Period or if the Release and Waiver is revoked by Executive.

Appears in 1 contract

Samples: Executive Employment Agreement (Capital Senior Living Corp)

Release of Claims as Condition. The Company's obligation to pay the separation allowance and provide all other benefits and rights referred to in Section 6(c) or (d) shall be conditioned upon the Executive having delivered to the Company within sixty (60) days after the Termination Date (the "Release Period") an executed full and unconditional release that is in substantially the same form as the "Release and Waiver" attached hereto as Exhibit A and that Executive does not revoke within the Release Period, provided that if the Release Period begins in one taxable year of the Executive and ends in another taxable year of the Executive, payments under Section 6(c) or (d) shall not begin until the beginning of the second taxable year of the Executive. If Executive fails to satisfy the requirements set forth in the immediately preceding sentence, the Executive shall forfeit his her right to any separation allowance and any other benefits and rights set forth under Section 6(c) or (d) and CSL shall be relieved of any obligation to pay the Executive any amounts or provide the Executive any benefits under Section 6(c) or (d) other than the Accrued Payments. The foregoing notwithstanding, the Benefits Continuation shall be provided to Executive from and after the Termination Date, but shall discontinue in the event that the Release and Waiver is not delivered within the Release Period or if the Release and Waiver is revoked by Executive.

Appears in 1 contract

Samples: Executive Employment Agreement (Capital Senior Living Corp)

AutoNDA by SimpleDocs

Release of Claims as Condition. The Company's ’s obligation to pay the separation allowance and provide all other benefits and rights referred to in Section 6(c7(c) or (d) shall be conditioned upon the Executive having delivered to the Company within sixty (60) days after the Termination Date (the "Release Period") an executed full and unconditional release that is in substantially the same form as the "Release and Waiver" attached hereto as Exhibit A and that Executive does not revoke within the Release Period, provided that if the Release Period begins in one taxable year of the Executive and ends in another taxable year of the Executive, payments under Section 6(c7(c) or (d) shall not begin until the beginning of the second taxable year of the Executive. If Executive fails to satisfy the requirements set forth in the immediately preceding sentence, the Executive shall forfeit his her right to any separation allowance and any other benefits and rights set forth under Section 6(c7(c) or (d) and CSL shall be relieved of any obligation to pay the Executive any amounts or provide the Executive any benefits under Section 6(c7(c) or (d) other than the Accrued Payments. The foregoing notwithstanding, the Benefits Continuation shall be provided to Executive from and after the Termination Date, but shall discontinue in the event that the Release and Waiver is not delivered within the Release Period or if the Release and Waiver is revoked by Executive.

Appears in 1 contract

Samples: Executive Employment Agreement (Capital Senior Living Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!