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

Right to Consider and Revoke Release. The Executive acknowledges that he has been given the opportunity to consider this Release for a period of twenty-one (21) days after the Executive receives this Release. In the event the Executive executed this Release within less than twenty-one (21) days, he acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the twenty-one (21) day period. To accept this Release, the Executive shall deliver a signed Release to the Company within such twenty-one (21) day period. For a period of seven (7) days from the date when the Executive executes this Release (the “Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Company on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the twenty-one (21) 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 (the “Effective Date”).

Appears in 5 contracts

Samples: Agreement of Employment (Ocera Therapeutics, Inc.), Agreement of Employment (Ocera Therapeutics, Inc.), Agreement of Employment (Ocera Therapeutics, Inc.)

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Right to Consider and Revoke Release. The Executive acknowledges that he she has been given the opportunity to consider this Release for a period of twenty-one (21) days after the Executive receives this Release. In the event the Executive executed this Release within less than twenty-one (21) days, he she acknowledges that such decision was entirely voluntary and that he she had the opportunity to consider this Release until the end of the twenty-one (21) day period. To accept this Release, the Executive shall deliver a signed Release to the Company within such twenty-one (21) day period. For a period of seven (7) days from the date when the Executive executes this Release (the “Revocation Period”), he she shall retain the right to revoke this Release by written notice that is received by the Company on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the twenty-one (21) 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 (the “Effective Date”).

Appears in 3 contracts

Samples: Agreement of Employment (Ocera Therapeutics, Inc.), Agreement of Employment (Ocera Therapeutics, Inc.), Agreement of Employment (Ocera Therapeutics, Inc.)

Right to Consider and Revoke Release. The Executive acknowledges that he has been given the opportunity to consider this Release for a period of twenty-one at least 21 days (21) days after the Executive receives this Release“Consideration Period”)1. In the event the Executive executed executes this Release within less than twenty-one (21) daysbefore the end of the Consideration Period, he acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the twenty-one (21) day periodConsideration Period. To accept this Release, the Executive shall deliver a signed Release to the Company within such twenty-one (21) day perioddays after the Date of Termination. For a period of seven (7) business days from the date when the Executive executes this Release (the “Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Company undersigned Chiasma representative on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the twenty-one (21) day period as set forth above and if 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 (the “Effective Date”).

Appears in 2 contracts

Samples: Release of Claims (Chiasma, Inc), Release of Claims (Chiasma, Inc)

Right to Consider and Revoke Release. The Executive acknowledges that he has been given the opportunity to consider this Release for a period of twenty-one at least 21 days (21) days after the Executive receives this Release“Consideration Period”). In the event the Executive executed this Release within less than twenty-one (21) daysbefore the end of the Consideration Period, he acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the twenty-one (21) day periodConsideration Period. To accept this Release, the Executive shall deliver a signed Release to the Company Company’s CEO within such twenty-one sixty (2160) day perioddays after the Date of Termination. For a period of seven (7) days from the date when the Executive executes this Release (the “Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Company HR on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the twenty-one sixty (2160) day period as set forth above and if it is not revoked pursuant to the preceding sentence. If those conditions are satisfied, this This Release shall become effective and enforceable on the date immediately following the last day of the Revocation Period (the “Effective Date”).

Appears in 2 contracts

Samples: Letter Agreement (Chiasma, Inc), Chiasma, Inc

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Right to Consider and Revoke Release. The Executive acknowledges I acknowledge that he has I have been given the opportunity to consider this Release for a period of twenty-one (21) ending 45 days after the Executive receives this Releasedate when it was proposed to me. In the event the Executive executed that I execute this Release within less than twenty-one (21) days45 days after such date, he acknowledges I acknowledge that such decision was entirely voluntary and that he I had the opportunity to consider this Release until the end of the twenty45-one (21) day period. To accept this Release, the Executive I shall deliver a signed Release to the Company Company’s General Counsel within such twenty45-one (21) day period. For a period of seven (7) days from the date when the Executive executes I execute this Release (the “Revocation Period”), he I shall retain the right to revoke this Release by written notice that is received by the Company General Counsel on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the twenty45-one (21) 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 (the “Effective Date”).

Appears in 1 contract

Samples: Employment Agreement (Citrix Systems Inc)

Right to Consider and Revoke Release. The Executive acknowledges that he has been given the opportunity to consider this Release for a period of twenty-one at least 21 days (21) days after the Executive receives this Release“Consideration Period”)1. In the event the Executive executed executes this Release within less than twenty-one (21) daysbefore the end of the Consideration Period, he acknowledges that such decision was entirely voluntary and that he had the opportunity to consider this Release until the end of the twenty-one (21) day periodConsideration Period. To accept this Release, the Executive shall deliver a signed Release to the Company within such twenty-one (21) day perioddays after the Date of Termination. For a period of seven (7) business days from the date when the Executive executes this Release (the “Revocation Period”), he shall retain the right to revoke this Release by written notice that is received by the Company undersigned Chiasma representative on or before the last day of the Revocation Period. This Release shall take effect only if it is executed within the twenty-one (21) day period as set forth above and if 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 (the “Effective Date”).. 1 To be increased to 45 days in the event of a group termination under the Older Workers’ Benefits Protection Act. Xxx Xxxxxx May 31, 2019

Appears in 1 contract

Samples: Letter Agreement (Chiasma, Inc)

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