Severance Conditioned on Release of Claims. The Company’s obligation to provide Executive with the severance benefits set forth in Section 1.7.2 is contingent upon Executive’s execution of a mutual release of claims satisfactory to the Company. Such release will not contain any non-competition period or otherwise restrict Executive's future employment opportunity and will not affect Executive’s continuing obligations to the Company under the Proprietary Agreement.
Severance Conditioned on Release of Claims. 8.1. The Company's obligation to provide Consulting Executive with any severance payment shall be addressed in further good faith negotiations and contingent upon Consulting Executive's execution of a satisfactory release of claims in favor of the Company.
Severance Conditioned on Release of Claims. The Company’s obligation to provide Executive with the severance benefits set forth in Section 1.7.2 is contingent upon Executive’s execution of a mutual release of claims in the form attached hereto as Exhibit C (the “ Release ”), which, except as otherwise provided below, has become effective in accordance with its terms on or before the time period specified by Section 1.7.2.
(a) The Company must deliver the Release to Executive for execution no later than seven (7) days after Executive’s termination of employment. If the Company fails to deliver the Release to Executive within such seven (7) day period, Executive will be deemed to have satisfied the release requirement of this Section 1.7.3, and Executive will be entitled to receive the severance benefits set forth in Section 1.7.2 hereof as though Executive had executed the Release and the Release had become effective in accordance with its terms within the time period required by Section 1.7.2.
(b) Upon delivery of the Release by the Company as provided in Section 1.7.3(a), Executive shall execute the Release, if at all, within forty-five (45) days from the date of its delivery to Executive.
(c) If Executive has revocation rights with respect to his execution of the Release, Executive shall exercise such rights, if at all, not later than seven (7) days after executing the Release.
Severance Conditioned on Release of Claims. The Company's obligation to provide Employee with the Severance Payment and Benefit Continuation set forth in Sections 7.1 and 7.3 is contingent upon Employee's execution of a satisfactory release of all claims in favor of the Company.
Severance Conditioned on Release of Claims. 8.1. The Company's obligation to provide Executive with the Severance Payment set forth in SECTION 7.2 is NOT contingent upon Executive's execution of a satisfactory release of claims in favor of the Company.
Severance Conditioned on Release of Claims. Unless it otherwise elects to waive any such condition precedent, Company's obligation to provide Executive with the Severance Payment set forth in Section 1.6.2 is contingent upon Executive's and Company's execution of that certain Form of Release, a copy of which is attached hereto and marked as Exhibit “C” (the “Release”). If Executive fails to sign the Release within twenty-one (21) days of receipt of notice of termination pursuant to Section 1.5.1.5, or subsequently rescinds the Release, Executive shall not be entitled to receive Severance Payments pursuant to Section 1.6.2 and Section 1.6.3.
Severance Conditioned on Release of Claims. The Company's obligation to provide Executive with the Severance Payment and Benefit Continuation set forth in Section 8.2 is contingent upon Executive's execution of a satisfactory release of all claims in favor of the Company.
Severance Conditioned on Release of Claims. The Company’s obligation to provide Executive with the severance benefits set forth in Section 1.7.2 is contingent upon Executive’s execution of a mutual release of claims satisfactory to the Company. Such release will not contain any non-competition period or otherwise restrict Executive’s future employment opportunity and will not affect Executive’s continuing obligations to the Company under the Proprietary Agreement. Except as otherwise provided below, the Release shall become effective in accordance with its terms on or before the date following the Termination Date specified by Section 1.7.2.
(a) The Company must deliver the Release to Executive for execution no later than seven (7) days after Executive’s termination of employment. If the Company fails to deliver the Release to Executive within such seven (7) day period, Executive will be deemed to have satisfied the release requirement of this Section 1.7.3, and Executive will be entitled to receive the severance benefits set forth in Section 1.7.2 hereof as though Executive had executed the Release and the Release had become effective in accordance with its terms within the time period required by Section 1.7.2.
(b) Upon delivery of the Release by the Company as provided in Section 1.7.3(a), Executive shall make revisions to and execute the Release, if at all, within forty-five (45) days from the date of its delivery to Executive.
(c) If Executive has revocation rights with respect to his execution of the Release, Executive shall exercise such rights, if at all, not later than seven (7) days after executing the Release.
Section 4.1 2, entitled “Determinations” shall be deleted in its entirety and replaced with the following language:
Severance Conditioned on Release of Claims. The Company’s obligation to provide Executive with the Severance Payments set forth in Section 6.2 is contingent upon Executive’s execution of a release of claims in favor of the Company. Any release of claims shall not include any independently verifiable criminal acts or civil fraud committed by either the Company and/or its officers or directors.
Severance Conditioned on Release of Claims above is contingent upon Employee's execution of a release, reasonably satisfactory to the Company, of all claims Employee may have against the Company and SMC.
