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 Severance Benefits (other than the Accrued Benefits) under Section 4(d) or Section 4(e) shall be conditioned upon the Executive’s execution, delivery to the Company, and non-revocation of a general release of claims in the form attached as 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 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 52-day period, or timely revokes the Executive’s such release following its execution, the Executive shall not be entitled to any of the Severance Benefits. During such time that the Executive is receiving Severance Benefits pursuant to Section 4(d) or Section 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 cure (as determined in the Board’s good faith discretion), within 30 days following the Company’s written notice thereof to the Executive), the Executive’s right to receive or retain the Severance Benefits shall immediately cease and be forfeited.

Appears in 2 contracts

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

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Release of Claims, Continued Compliance. Notwithstanding any provision herein to the contrary, the payment and provision of the Qualifying Termination Severance Benefits (other than the Accrued Benefits) under pursuant to Section 4(d) or the Change in Control Severance Benefits pursuant to Section 4(e) (as applicable, the “Severance Benefits”) shall be conditioned upon the Executive’s execution, delivery to the Company, and non-revocation of a the general release of claims in the form attached hereto as Exhibit A (other than any changes thereto attributable A, subject to such modifications as the Company reasonably deems necessary to reflect changes in applicable law) law between the Effective Date and the Termination Date (the “Release”) (and the expiration of any revocation period contained in such Release) within 52 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 5260-day period, or timely revokes the Executive’s such release following its execution, the Executive shall not be entitled to any of the Severance Benefits. During such time that the Executive is receiving Severance Benefits pursuant to Section 4(d) or Section 4(e)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 (as determined in the Board’s good faith discretion)cure, within 30 15 days following of the Company’s written notice thereof to the Executive), the Executive’s right to receive or retain the Severance Benefits shall immediately cease and be forfeited.

Appears in 1 contract

Samples: 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 Severance Benefits (other than the Accrued Benefits) under Section 4(d) or Section 4(e) shall be conditioned upon the Executive’s execution, delivery to the Company, and non-revocation of a general release of claims in the form attached as 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 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 52-day period, or 7 timely revokes the Executive’s such release following its execution, the Executive shall not be entitled to any of the Severance Benefits. During such time that the Executive is receiving Severance Benefits pursuant to Section 4(d) or Section 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 cure (as determined in the Board’s good faith discretion), within 30 days following the Company’s written notice thereof to the Executive), the Executive’s right to receive or 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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