Common use of Waiver and Release Requirement Clause in Contracts

Waiver and Release Requirement. The foregoing notwithstanding, payment of the benefits under this Section 2 is subject to Executive’s timely execution and return of the Waiver and Release to the Company, without subsequent revocation during the seven-day period following such execution date (the “Waiver and Release Revocation Period”), as provided in this Section 2(h). Executive shall have 50 days following (i) his Covered Termination date, or (ii) in the case of a Pre-Change in Control Covered Termination, the date of the Change in Control, to consider, execute and return the Waiver and Release to the Company and shall then have the right to revoke the Waiver and Release during the Waiver and Release Revocation Period. If Executive fails to timely execute and return the Waiver and Release to the Company or revokes such Waiver and Release during the Waiver and Release Revocation Period, then Executive shall forfeit, and shall not be entitled to, any of the benefits described in this Section 2.

Waiver and Release Requirement. The foregoing notwithstanding, payment of the benefits under this Section 2 is subject to Executive’s timely execution and return of the Waiver and Release to the Company, without subsequent revocation during the seven-day period following such execution date (the “Waiver and Release Revocation Period”), as provided in this Section 2(h2(f). The Company shall provide Executive the Waiver and Release no later than 15 days after Executive’s Covered Termination date. Executive shall have 50 22 days following (i) his Covered Termination date, or (ii) in the case of a Pre-Change in Control Covered Termination, the date receipt of the Change in Control, Waiver and Release to consider, execute and return the Waiver and Release to the Company and shall then have the right to revoke the Waiver and Release during the Waiver and Release Revocation Period. If Executive fails to timely execute and return the Waiver and Release to the Company or revokes such Waiver and Release during the Waiver and Release Revocation Period, then Executive shall forfeit, and shall not be entitled to, any of the benefits described in this Section 2.