Review of Release. Executive, in consideration of the payments provided to Executive as described in the Retention Agreement, agrees and acknowledges that this Release constitutes a knowing and voluntary waiver and release of all Claims Executive has or may have against the Company and/or any of the Releasees as set forth herein, including, but not limited to, all Claims arising under the Older Workers Benefit Protection Act and the Age Discrimination in Employment Act. In accordance with the Older Workers Benefit Protection Act, Executive is hereby advised as follows: a. Executive has read the terms of this Release, and understands its terms and effects, including the fact that Executive agreed to release and forever discharge the Company and each of the Releasees, from any Claims released in this Release; b. Executive understands that, by entering into this Release, Executive does not waive any Claims that may arise after the date of Executive’s execution of this Release, including without limitation any rights or Claims that Executive may have to secure enforcement of the terms and conditions of this Release or the Retention Agreement; c. Executive has signed this Release voluntarily and knowingly in exchange for the consideration described in this Release, which Executive acknowledges is adequate and satisfactory to Executive and which Executive acknowledges is in addition to any other benefits to which Executive is otherwise entitled; d. The Company advises Executive to consult with an attorney prior to executing this Release; e. Executive has been given 21 days in which to review and consider this Release. To the extent that Executive chooses to sign this Release prior to the expiration of such period, Executive acknowledges that Executive has done so voluntarily, had sufficient time to consider the Release, to consult with counsel and that Executive does not desire additional time and hereby waives the remainder of the 21-day period; and f. Executive may revoke this Release within seven days from the date Executive signs this Release and this Release will become effective upon the expiration of that revocation period, and that the consideration to be provided to him or her pursuant to Section 2 of the Retention Agreement will be provided only at the end of that seven-day revocation period. If Executive revokes this Release during such seven-day period, this Release will be null and void and of no force or effect on either the Company or Executive and Executive will not be entitled to any of the payments or benefits which are expressly conditioned upon the execution and non-revocation of this Release. Any revocation must be in writing and sent to [name, title], via electronic mail at [email address] on or before 5:00 p.m. Pacific time on the seventh day after this Release is executed by Executive.
Appears in 2 contracts
Samples: Retention Agreement (Obalon Therapeutics Inc), Retention Agreement (Obalon Therapeutics Inc)
Review of Release. ExecutiveConsultant, in consideration of the payments provided to Executive Consultant as described in the Retention Consulting Agreement, agrees and acknowledges that this Release constitutes a knowing and voluntary waiver and release of all Claims Executive Consultant has or may have against the Company and/or any of the Releasees as set forth herein, including, but not limited to, all Claims arising under the Older Workers Benefit Protection Act and the Age Discrimination in Employment Act. In accordance with the Older Workers Benefit Protection Act, Executive Consultant is hereby advised as follows:
a. Executive Consultant has read the terms of this Release, and understands its terms and effects, including the fact that Executive Consultant agreed to release and forever discharge the Company and each of the Releasees, from any Claims released in this Release;
b. Executive Consultant understands that, by entering into this Release, Executive Consultant does not waive any Claims that may arise after the date of ExecutiveConsultant’s execution of this Release, including without limitation any rights or Claims that Executive Consultant may have to secure enforcement of the terms and conditions of this Release or the Retention Consulting Agreement;
c. Executive Consultant has signed this Release voluntarily and knowingly in exchange for the consideration described in this Release, which Executive Consultant acknowledges is adequate and satisfactory to Executive Consultant and which Executive Consultant acknowledges is in addition to any other benefits to which Executive Consultant is otherwise entitled;
d. The Company advises Executive Consultant to consult with an attorney prior to executing this Release;
e. Executive Consultant has been given 21 days in which to review and consider this Release. To the extent that Executive Consultant chooses to sign this Release prior to the expiration of such period, Executive Consultant acknowledges that Executive Consultant has done so voluntarily, had sufficient time to consider the Release, to consult with counsel and that Executive Consultant does not desire additional time and hereby waives the remainder of the 21-day period; and
f. Executive Consultant may revoke this Release within seven days from the date Executive Consultant signs this Release and this Release will become effective upon the expiration of that revocation period, and that the consideration to be provided to him or her pursuant to Section 2 Sections 2(c) and 3 of the Retention Consulting Agreement will be provided only at the end of that seven-day revocation period. If Executive Consultant revokes this Release during such seven-day period, this Release will be null and void and of no force or effect on either the Company or Executive Consultant and Executive Consultant will not be entitled to any of the payments or benefits which are expressly conditioned upon the execution and non-revocation of this Release. Any revocation must be in writing and sent to [name, title], via electronic mail at [email address] on or before 5:00 p.m. Pacific time on the seventh day after this Release is executed by ExecutiveConsultant.
Appears in 2 contracts
Samples: Transition and Consulting Agreement (Obalon Therapeutics Inc), Transition and Consulting Agreement (Obalon Therapeutics Inc)