Common use of Release of Claims, Continued Compliance Clause in Contracts

Release of Claims, Continued Compliance. Notwithstanding any provision herein to the contrary, the payment and provision of the payments and benefits pursuant to Sections 4(c), 4(d), or 4(e) shall be conditioned upon the Executive’s execution, delivery to the Company, and non-revocation of the of the Company’s standard form of general release of claims as of such time (the “Release”) (and the expiration of any revocation period contained in such Release) within 60 days following the Termination Date. If the Executive fails to execute the Release in such a timely manner so as to permit any revocation period to expire prior to the end of such 60-day period, or timely revokes such release following its execution, the Executive shall not be entitled to any of the payments or benefits hereunder, other than the Accrued Benefits. During such time that the Executive is receiving any such payments or benefits (other than the Accrued Benefits), if the Executive materially breaches any restrictive covenant set forth in Section 5 (and such breach is not cured, to the extent susceptible of cure, within 15 days of the Company’s written notice thereof to the Executive), the Executive’s right to receive such payments or benefits shall immediately cease and be forfeited.

Appears in 2 contracts

Samples: Employment Agreement (Tuesday Morning Corp/De), Employment Agreement (Tuesday Morning Corp/De)

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Release of Claims, Continued Compliance. Notwithstanding any provision herein to the contrary, the payment and provision of the payments and benefits Severance Benefits pursuant to Sections 4(c), Section 4(d), ) or Section 4(e) shall be conditioned upon the Executive’s execution, delivery to the Company, and non-revocation of the of the Company’s standard form of general release of claims substantially in the form attached hereto as of such time Exhibit A (the “Release”) (and the expiration of any revocation period contained in such Release) within 60 days following the Termination Date. If the Executive fails to execute the Release in such a timely manner so as to permit any revocation period to expire prior to the end of such 60-day period, or timely revokes the Executive’s such release following its execution, the Executive shall not be entitled to any of the payments or benefits hereunder, other than the Accrued Severance Benefits. During such time that the Executive is receiving any such payments or benefits (other than the Accrued Severance Benefits), if the Executive materially breaches any restrictive covenant set forth in Section 5 (and such breach is not cured, to the extent susceptible of curecure (as determined in the Board’s good faith discretion), within 15 30 days of following the Company’s written notice thereof to the Executive), the Executive’s right to receive such payments or benefits the Severance Benefits shall immediately cease and be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Frontier Communications Corp)

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Release of Claims, Continued Compliance. Notwithstanding any provision herein to the contrary, the payment and provision of the payments and benefits pursuant to Sections 4(cSeverance Benefits (other than the Accrued Benefits) under Section 4(d) or Section 4(e) (and, if applicable, the payment under Section 4(b)(vi), 4(d), or 4(e) shall be conditioned upon the Executive’s execution, delivery to the Company, and non-revocation of the of the Company’s standard form of a general release of claims in the form attached as of such time Exhibit A (other than any changes thereto attributable to changes in applicable law) (the “Release”) (and the expiration of any revocation period contained in such Release) within 60 52 days following the Termination Date. If the Executive fails to execute the Release in such a timely manner so as to permit any revocation period to expire prior to the end of such 6052-day period, or timely revokes the Executive’s such release following its execution, the Executive shall not be entitled to any of the payments Severance Benefits under Section 4(d) or benefits hereunderSection 4(e), other than or the Accrued Benefitspayment under Section 4(b)(vi), as applicable. During such time that the Executive is receiving any such payments Severance Benefits pursuant to Section 4(d) or benefits (other than the Accrued BenefitsSection 4(e), if the Executive materially breaches any restrictive covenant set forth in Section 5 (and such breach is not cured, to the extent susceptible of curecure (as determined in the Board’s good faith discretion), within 15 30 days of following the Company’s written notice thereof to the Executive), the Executive’s right to receive such payments or benefits retain the Severance Benefits shall immediately cease and be forfeited.

Appears in 1 contract

Samples: Employment Agreement (Frontier Communications Parent, Inc.)

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