Common use of Rescission Right Clause in Contracts

Rescission Right. The Employee expressly acknowledges and recites that (a) he or she has read and understands this Release in its entirety, (b) he or she has entered into this Release knowingly and voluntarily, without any duress or coercion; (c) he or she has been advised orally and is hereby advised in writing to consult with an attorney with respect to this Release before signing it; (d) he or she was provided 21 calendar days after receipt of the Release to consider its terms before signing it (or such longer period as is required for this Release to be effective under the Age Discrimination in Employment Act or any similar state law); and (e) he or she is provided seven (7) calendar days from the date of signing to terminate and revoke this Release (or such longer period required by applicable state law), in which case this Release shall be unenforceable, null and void. The Employee may revoke this Release during those seven (7) days (or such longer period required by applicable state law) by providing written notice of revocation to the Company.

Appears in 5 contracts

Samples: Change of Control Agreement (Neose Technologies Inc), Change of Control Agreement (Neose Technologies Inc), Change of Control Agreement (Neose Technologies Inc)

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Rescission Right. The Employee expressly acknowledges and recites that (a) he or he/she has read and understands this Release in its entirety, (b) he or he/she has entered into this Release knowingly and voluntarily, without any duress or coercion; (c) he or he/she has been advised orally and is hereby advised in writing to consult with an attorney with respect to this Release before signing it; (d) he or he/she was provided 21 calendar days after receipt of the Release to consider its terms before signing it (or such longer period as is required for this Release to be effective under the Age Discrimination in Employment Act or any similar state law); and (e) he or he/she is provided seven (7) calendar days from the date of signing to terminate and revoke this Release (or such longer period required by applicable state law), in which case this Release shall be unenforceable, null and void. The Employee may revoke this Release during those seven (7) days (or such longer period required by applicable state law) by providing written notice of revocation to the Company.

Appears in 1 contract

Samples: Change of Control Agreement (Animas Corp)

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Rescission Right. The Employee expressly acknowledges and recites that (a) he or she has read and understands this Release in its entirety, (b) he or she has entered into this Release knowingly and voluntarily, without any duress or coercion; (c) he or she has been advised orally and is hereby advised in writing to consult with an attorney with respect to this Release before signing it; (d) he or she was provided 21 calendar days after receipt of the Release to consider its terms before signing it (or such longer period as is required for this Release to be effective under the Age Discrimination in Employment Act or any similar state law); and (e) he or she is provided seven (7) calendar days from the date of signing to terminate and revoke this Release (or such longer period required by applicable state law), in which case this Release shall be unenforceable, null and void. The Employee may revoke this Release during those seven (7) 7 days (or such longer period required by applicable state law) by providing written notice of revocation to the Company.

Appears in 1 contract

Samples: Employment Agreement (Neose Technologies Inc)

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