Common use of Compliance with ADEA and OWBPA Clause in Contracts

Compliance with ADEA and OWBPA. To comply with the Age Discrimination in Employment Act (“ADEA”) and the Older Worker’s Benefit Protection Act (“OWBPA”), the Company has advised Executive of the legal requirements of the OWBPA and fully incorporates the legal requirements by reference into this Agreement as follows: a. This Agreement is written in xxxxxx’x terms, and Executive understands and comprehends its terms; b. Executive has been advised of his right to consult an attorney to review this Agreement; c. Executive does not waive any rights or claims that may arise after this Agreement is executed; d. Executive is receiving consideration beyond anything of value to which he is already entitled; and e. Executive acknowledges that he has had a reasonable period of time within which to consider this Agreement. Executive acknowledges that he has been given a period of twenty-one (21) calendar days during which to consider whether to enter into this Agreement. Executive further acknowledges that he will have seven (7) calendar days from the date he signs and delivers a copy of the Agreement to the Company, during which time Executive may revoke the Agreement as to his release of claims under the ADEA and OWBPA only, by delivering a signed and dated notice of revocation to the Company. This Agreement becomes immediately effective and enforceable as to all claims, except those arising under the ADEA and OWBPA. This Agreement becomes effective and enforceable as to claims under the ADEA and OWBPA when the seven (7) day revocation period has expired if Executive has not delivered a written revocation to the Company before that time. Executive acknowledges that he is giving up any rights to receive any benefits or remedial relief (such as reinstatement, back pay or front pay) as a consequence of any charge or complaint filed with the courts or any other governmental entity. If Executive does file a charge or complaint with the court or any other governmental entity, then Executive agrees to forfeit any future benefits or payments that he may receive as enhanced severance pay and that Executive must repay the Company for any benefits or payments that he has already received as enhanced severance pay.