Common use of Right to Consider and Revoke Release Clause in Contracts

Right to Consider and Revoke Release. The Employee acknowledges that he has been given the opportunity to consider this Release for a period ending forty-five (45) days after the tender of the Release. In the event the Employee executed this Release within less than forty-five (45) days after the tender of the Release, he acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the forty-five (45) day period. To accept this Release, the Employee shall deliver a signed Release to the Chairman of the Compensation Committee of the Board (the “Chair”) within such forty-five (45) period. For a period of seven (7) days from the date when the Employee executes this Release (the “Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Chair on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the forty-five (45) day period as set forth above and if it is not revoked pursuant to the preceding sentence. If those conditions are satisfied, this Release shall become effective and enforceable on the date immediately following the last day of the Revocation Period.

Appears in 10 contracts

Samples: Letter Agreement (Argos Therapeutics Inc), Letter Agreement (Argos Therapeutics Inc), Letter Agreement (Argos Therapeutics Inc)

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Right to Consider and Revoke Release. The Employee acknowledges that he has been given the opportunity to consider this Release for a period ending forty-five twenty one (4521) days after the tender of the Release. In the event the Employee executed this Release within less than forty-five twenty one (4521) days after the tender of the Release, he acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the forty-five twenty one (4521) day period. To accept this Release, the Employee shall deliver a signed Release to the Chairman of the Compensation Committee of the Board (the “Chair”) within such forty-five twenty one (4521) day period. For a period of seven (7) days from the date when the Employee executes this Release (the “Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Chair on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the forty-five twenty one (4521) day period as set forth above and if it is not revoked pursuant to the preceding sentence. If those conditions are satisfied, this Release shall become effective and enforceable on the date immediately following the last day of the Revocation Period.

Appears in 2 contracts

Samples: Employment Agreement (Ophthotech Corp.), Employment Agreement (Ophthotech Corp.)

Right to Consider and Revoke Release. The Employee acknowledges that he has been given the opportunity to consider this Release for a period ending fortytwenty-five one (4521) days after the tender of the Release. In the event the Employee executed this Release within less than fortytwenty-five one (4521) days after the tender of the Release, he acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the fortytwenty-five one (4521) day period. To accept this Release, the Employee shall deliver a signed Release to the Chairman of the Compensation Committee of the Board (the “Chair”) within such fortytwenty-five one (4521) day period. For a period of seven (7) days from the date when the Employee executes this Release (the “Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Chair on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the fortytwenty-five one (4521) day period as set forth above and if it is not revoked pursuant to the preceding sentence. If those conditions are satisfied, this Release shall become effective and enforceable on the date immediately following the last day of the Revocation Period.

Appears in 1 contract

Samples: Separation Agreement (Ophthotech Corp.)

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Right to Consider and Revoke Release. The Employee acknowledges that he has been given the opportunity to consider this Release for a period ending forty-five (45) days after the tender of the Release. In the event the Employee executed this Release within less than forty-five (45) days after the tender of the Release, he acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the forty-five (45) day period. To accept this Release, the Employee shall deliver a signed Release to the Chairman of the Compensation Committee of the Board Company’s CEO (the “ChairCEO”) within such forty-five (45) period. For a period of seven (7) days from the date when the Employee executes this Release (the “Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Chair CEO on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the forty-five (45) day period as set forth above and if it is not revoked pursuant to the preceding sentence. If those conditions are satisfied, this Release shall become effective and enforceable on the date immediately following the last day of the Revocation PeriodPeriod (the “Effective Date”).

Appears in 1 contract

Samples: Letter Agreement (Argos Therapeutics Inc)

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