Common use of Severance Release Clause in Contracts

Severance Release. Executive acknowledges and agrees that as a condition to receiving any of the severance compensation pursuant to Section 6.3 of this Agreement (such severance compensation being collectively referred to as the “Severance Compensation”), Executive shall execute and deliver to Company a Release Agreement in form and substance reasonably satisfactory to the Company pursuant to all of which subsidiaries and Executive releases and waives any and all claims against the Company and all of their subsidiaries and Affiliates and its and their shareholders, directors, officers and employees arising out of this Agreement, Executive’s employment with the Company, Executive’s work for the Company or any of its Affiliates and/or the termination of Executive’s employment with the Company; provided, however, that such Release Agreement shall not affect or relinquish: (a) any vested rights Executive may have under any insurance or other employee benefits plans sponsored by the Company; (b) any claims for salary or other compensation earned by Executive prior to the employment termination date; (c) any claims for reimbursement of business expenses incurred prior to the employment termination date; (d) any rights to Severance Compensation; or (e) Executive’s rights to indemnification pursuant to Section II of this Agreement or by law. In the event Executive dies during the period Executive is receiving any cash Severance Compensation, the Company’s obligation to pay such Severance Compensation shall not terminate, and the unpaid portion of such Severance Compensation shall be paid in a lump sum to Executive’s estate within thirty (30) days following the death of the Executive.

Severance Release. Executive acknowledges and agrees that as a condition to receiving any of the severance compensation pursuant to Section 6.3 of this Agreement (such severance compensation being collectively referred to as the “Severance Compensation”), Executive shall execute and deliver to Company a Release Agreement in form and substance reasonably satisfactory to the Company pursuant to all of which subsidiaries and Executive releases and waives any and all claims against the Company and all of their subsidiaries and Affiliates and its and their shareholders, directors, officers and employees arising out of this Agreement, Executive’s employment with the Company, Executive’s work for the Company or any of its Affiliates and/or the termination of Executive’s employment with the Company; provided, however, that such Release Agreement shall not affect or relinquish: (a) any vested rights Executive may have under any insurance or other employee benefits plans sponsored by the Company; (b) any claims for salary or other compensation earned by Executive prior to the employment termination date; (c) any claims for reimbursement of ,business expenses incurred prior to the employment termination date; (d) any rights to Severance Compensation; or (e) Executive’s rights to indemnification pursuant to Section II 11 of this Agreement or by law. In the event Executive dies during the period Executive is receiving any cash Severance Compensation, the Company’s obligation to pay such Severance Compensation shall not terminate, and the unpaid portion of such Severance Compensation shall be paid in a lump sum to Executive’s estate within thirty (30) days following the death of the Executive.

Severance Release. Executive acknowledges and agrees that as a condition to receiving any of the severance compensation pursuant to Section 6.3 of this Agreement (such severance compensation being collectively referred to as the “Severance Compensation”), Executive shall execute and deliver to Company a Release Agreement in form and substance reasonably satisfactory to the Company pursuant to all of which subsidiaries and Executive releases and waives any and all claims against the Company and all of their subsidiaries and Affiliates and its and their shareholders, directors, officers and employees arising out of this Agreement, Executive’s employment with the Company, Executive’s work for the Company or any of its Affiliates and/or the termination of Executive’s employment with the Company; provided, however, that such Release Agreement shall not affect or relinquish: (a) any vested rights Executive may have under any insurance or other employee benefits plans sponsored by the Company; (b) any claims for salary or other compensation earned by Executive prior to the employment termination date; (c) any claims for reimbursement of business expenses incurred prior to the employment termination date; (d) any rights to Severance Compensation; or (e) Executive’s rights to indemnification pursuant to Section II 11 of this Agreement or by law. In the event Executive dies during the period Executive is receiving any cash Severance Compensation, the Company’s obligation to to, pay such Severance Compensation shall not terminate, and the unpaid portion of such Severance Compensation shall be paid in a lump sum to Executive’s estate within thirty (30) days following the death of the Executive.

Severance Release. Executive acknowledges and agrees that as a condition to receiving any of the severance compensation pursuant to Section 6.3 of this Agreement (such severance compensation being collectively referred to as the “Severance Compensation”), Executive shall execute and deliver to Company a Release Agreement in form and substance reasonably satisfactory to the Company pursuant to all of which subsidiaries and Executive releases and waives any and all claims against the Company and all of their subsidiaries and Affiliates and its and their shareholders, directors, officers and employees arising out of this Agreement, Executive’s employment with the Company, Executive’s work for the Company or any of its Affiliates and/or the termination of Executive’s employment with the Company; provided, however, that such Release Agreement shall not affect or relinquish: (a) any Any vested rights Executive may have under any insurance or other employee benefits plans sponsored by the Company; (b) any Any claims for salary or other compensation earned by Executive prior to the employment termination date; (c) any Any claims for reimbursement of business expenses incurred prior to the employment termination date; (d) any Any rights to Severance Compensation; or (e) Executive’s rights to indemnification pursuant to Section II 11 of this Agreement or by law. In the event Executive dies during the period Executive is receiving any cash Severance Compensation, the Company’s obligation to pay such Severance Compensation shall not terminate, and the unpaid portion of such Severance Compensation shall be paid in a lump sum to Executive’s estate within thirty (30) days following the death of the Executive.

Severance Release. Executive acknowledges and agrees that as a condition to receiving any of the severance compensation pursuant to Section 6.3 of this Agreement (such severance compensation being collectively referred to as the “Severance Compensation”), Executive shall execute and deliver to Company a Release Agreement in form and substance reasonably satisfactory to the Company pursuant to all of which subsidiaries and Executive releases and waives any and all claims against the Company and all of their subsidiaries and Affiliates and its and their shareholders, directors, officers and employees arising out of this Agreement, Executive’s employment with the Company, Executive’s work for the Company or any of its Affiliates and/or the termination of Executive’s employment with the Company; provided, however, that such Release Agreement shall not affect or relinquish: (a) any vested rights Executive may have under any insurance or other employee benefits plans sponsored by the Company; (b) any claims for salary or other compensation earned by Executive prior to the employment termination date; (c) any claims for reimbursement of business expenses incurred prior to the employment termination date; (d) any rights to Severance Compensation; or (e) Executive’s rights to indemnification pursuant to Section II 11 of this Agreement or by law. In the event Executive dies during the period Executive is receiving any cash Severance Compensation, the Company’s obligation to pay such Severance Compensation shall not terminate, and the unpaid portion of such Severance Compensation shall be paid in a lump sum to Executive’s estate within thirty (30) days following the death of the Executive.

Severance Release. Executive acknowledges and agrees that as a a, condition to receiving any of the severance compensation pursuant to Section 6.3 of this Agreement (such severance compensation being collectively referred to as the “Severance Compensation”), Executive shall execute and deliver to Company a Release Agreement in form and substance reasonably satisfactory to the Company pursuant to all of which subsidiaries and Executive releases and waives any and all claims against the Company and all of their subsidiaries and Affiliates and its and their shareholders, directors, officers and employees arising out of this Agreement, Executive’s employment with the Company, Executive’s work for the Company or any of its Affiliates and/or the termination of Executive’s employment with the Company; ;’ provided, however, that such Release Agreement shall not affect or relinquish: (a) any vested rights Executive may have under any insurance or other other, employee benefits plans sponsored by the Company; (b) any claims for salary or other compensation earned by Executive prior to the employment termination date; (c) any claims for reimbursement of business expenses incurred prior to the employment termination date; (d) any rights to Severance Compensation; or (e) Executive’s rights to indemnification pursuant to Section II 11 of this Agreement or by law. In the event Executive dies during the period Executive is receiving any cash Severance Compensation, the Company’s obligation to pay such Severance Compensation shall not terminate, and the unpaid portion of such Severance Compensation shall be paid in a lump sum to Executive’s estate within thirty (30) days following the death of the Executive.