Common use of Release Required Clause in Contracts

Release Required. You will be required to execute and return to the Company an irrevocable release substantially similar to the release in Exhibit B in favor of the Company in order to be entitled to receive any Option Period Payment, Severance Payment, CIC Severance Payment, or benefits described in Section 4 of this Agreement. Unless state or federal law require a longer period, the release must be executed within seven days of the date of termination. The release must be in favor of the Company and related parties relating to all claims or liabilities of any kind regarding your employment with the Company and the Involuntary Termination of such employment.