Common use of Severance Benefit Conditions & Limitations Clause in Contracts

Severance Benefit Conditions & Limitations. a. In order to receive any Severance Benefits, Executive must execute a Post-Termination General Release of All Claims Agreement, in a form provided by Employer that is substantially similar in all material respects to Exhibit B hereto, which is made a part of this EA (“General Release”) within 21 days (or 45 days if such longer period is required under applicable law) following Executive’s Separation from Service; provided, however, that the General Release becomes effective and enforceable in accordance with its terms.

Appears in 2 contracts

Samples: Executive Employment Agreement (Penson Worldwide Inc), Executive Employment Agreement (Penson Worldwide Inc)

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Severance Benefit Conditions & Limitations. a. A. In order to receive any Severance Benefits, Executive must execute a Post-Termination General Release of All Claims Agreement, in a the form provided by Employer that is substantially similar in all material respects to attached as Exhibit B A hereto, which is made a part of this EA Separation Agreement (“General Release”) within 21 days (or 45 days if such longer period is required under applicable law) following Executive’s Separation from ServiceDate; provided, however, that the General Release becomes effective and enforceable in accordance with its terms.

Appears in 1 contract

Samples: Separation Agreement (Penson Worldwide Inc)

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Severance Benefit Conditions & Limitations. a. In order to receive any Severance Benefits, Executive must execute a Post-Termination General Release of All Claims Agreement, in a form provided by Employer that is substantially similar in all material respects to Exhibit B hereto, which is made a part of this EA (“General Release”) within 21 days (or 45 days if such longer period is required under applicable law) following Executive’s Separation from Service; provided, however, that the General Release becomes effective and enforceable in accordance with its terms.

Appears in 1 contract

Samples: Executive Employment Agreement (Penson Worldwide Inc)

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