Common use of Effective Upon Execution Clause in Contracts

Effective Upon Execution. This Agreement shall become effective upon execution by both parties, provided however, Executive shall have the right to rescind this Agreement in accordance with Section 7 below within seven (7) days following the date this Agreement is fully executed. In the event Executive exercises his right to rescind this Agreement, all of the provision hereof, including any compensation to be paid to Executive in excess of the payments specified in Section 2.a above, shall be null and void.

Effective Upon Execution. This Agreement shall become effective upon execution by both parties, ; provided however, Executive shall have the right to rescind this Agreement in accordance with Section 7 below within seven (7) days following the date this Agreement is fully executed. In the event Executive exercises his right to rescind this Agreement, all of the provision provisions hereof, including any compensation to be paid to Executive in excess of the payments specified in Section 2.a and 2.c above, shall be null and void.