Common use of Release of Claims Requirements Clause in Contracts

Release of Claims Requirements. In consideration of the receipt of any severance benefits under this Agreement, and as a precondition to their receipt, Employee must execute and not revoke and deliver to the Company a release of all known and unknown claims substantially in the form attached hereto as Exhibit A (the “Release”). Employee shall be granted a twenty-one (21) day period (or such other time period required by applicable law but not to exceed 45 days) commencing within 10 days after termination of Employee’s employment in which to review and study the Release and consult with an attorney prior to deciding whether to execute the Release. Employee’s failure to timely execute and deliver such Release within the prescribed time period (or Employee’s revocation of the Release) shall be deemed to be a waiver of Employee’s ability to receive any of the applicable severance benefits.