Common use of Required Release Clause in Contracts

Required Release. The Company’s obligation to provide severance pay and other benefits under this Agreement, however, is subject (a) to Executive’s signing a release of claims in favor of the Company in the form to be provided by the Company that becomes enforceable within 60 days (or such shorter period as the Company specifies) following the Date of Termination (the “Release”); and (b) to Executive’s meeting in full his or her obligations under any other agreements in effect between Executive and the Company. The “Release Effective Date” is the date the Release becomes enforceable, provided that if the 60 day period for providing an enforceable Release extends into a calendar year subsequent to the year containing the Date of Termination, the Release Effective Date will be no earlier than the first business day of such subsequent year. The Executive must also acknowledge his or her continuing responsibility to honor any non-compete and non-solicitation obligations previously undertaken by Executive for a period of one year from the Termination Date or such other period as the obligations specify.

Required Release. The Company’s obligation to provide severance pay and other benefits under this Agreement, however, is subject (a) to Executive’s signing a release of claims in favor of the Company in the form to be provided by the Company that becomes enforceable within 60 sixty (60) days (or such shorter period as the Company specifies) following the Date of Termination (the “Release”); and (b) to Executive’s meeting in full his or her obligations under any other agreements in effect between Executive and the Company. The “Release Effective Date” is the date the Release becomes enforceable, provided that if the 60 sixty (60) day period for providing an enforceable Release extends into a calendar year subsequent to the year containing the Date of Termination, the Release Effective Date will be no earlier than the first business day of such subsequent year. The Executive must also acknowledge his or her continuing responsibility to honor any non-compete and non-solicitation obligations previously undertaken by Executive for a period of one year from the Termination Date or such other period as the obligations specify.