Effective Release Clause Samples
An Effective Release clause defines the point at which a party is formally and legally discharged from further obligations or liabilities under an agreement. Typically, this clause specifies the conditions or actions—such as payment, delivery, or completion of certain tasks—that must be met for the release to take effect. For example, once a settlement amount is paid, the releasing party cannot pursue further claims related to the matter. The core function of this clause is to provide certainty and finality, ensuring that once agreed conditions are satisfied, the parties are protected from future disputes or claims regarding the released matters.
Effective Release. The Executive shall not receive any of the severance payments or benefits set forth under Section 4(c) and Section 4(d) hereof, as applicable, unless the Executive furnishes the Company with an effective waiver and release of claims (the “Release”) in the form attached hereto as Exhibit A or in such other form as the Company may reasonably specify.
Effective Release. No payments will be made to Executive (or his estate, as applicable) under this Section 5 unless the Executive (or his estate, as applicable) executes and does not revoke a Release.
Effective Release. No payments (other than the Accrued Obligations) will be made to Executive (or his estate, as applicable) and no acceleration of RSU’s on behalf of Executive under this Section 5 will occur, unless the Executive (or his estate, as applicable) executes and does not revoke a mutually agreeable Release.