Common use of Execution and Delivery of Release Clause in Contracts

Execution and Delivery of Release. The Company Group shall not be required to make the payments and provide the benefits provided for under Section 4(c) or 4(d) unless, within sixty (60) days following the Executive’s Separation from Service, the Executive executes and delivers to the Company a general waiver and release of claims containing customary terms and the release has become effective and irrevocable in its entirety. The Executive’s failure or refusal to sign the release (or the Executive’s revocation of such release in accordance with applicable laws) shall result in the forfeiture of the payments and benefits under Sections 4(c) and 4(d) (excluding any payments or benefits consisting of Other Accrued Compensation and Benefits).

Appears in 5 contracts

Samples: Employment Agreement (Electriq Power Holdings, Inc.), Employment Agreement (Electriq Power Holdings, Inc.), Employment Agreement (Electriq Power Holdings, Inc.)

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Execution and Delivery of Release. The Company Group shall not be required to make the payments and provide the benefits provided for under Section 4(c) ), 4(d), or 4(d) unless4(e), unless the Executive executes and delivers to the Company, within sixty (60) 60 days following the Executive’s Separation from Service, the Executive executes and delivers to the Company a general waiver and release of claims containing customary terms in a form substantially similar to the form attached hereto as Exhibit A and the release has become effective and irrevocable in its entirety. The Executive’s failure or refusal to sign the release (or the Executive’s revocation of such release in accordance with applicable laws) shall result in the forfeiture of the payments and benefits under Sections 4(c) and 4(d) (excluding any payments or benefits consisting of Other Accrued Compensation and Benefits).its

Appears in 2 contracts

Samples: Employment Agreement (Dycom Industries Inc), Employment Agreement (Dycom Industries Inc)

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Execution and Delivery of Release. The Company Group shall not be required to make the payments and provide the benefits provided for under Section 4(c5(c) or 4(d5(d) unlessunless the Executive executes and delivers to the Company, within sixty (60) 60 days following the Executive’s Separation from Service, the Executive executes and delivers to the Company a general waiver and release of claims containing customary terms in a form substantially similar to the form attached hereto as Exhibit A and the release has become effective and irrevocable in its entirety. The Executive’s failure or refusal to sign the release (or the Executive’s revocation of such release in accordance with applicable laws) shall result in the forfeiture of the payments and benefits under Sections 4(c5(c) and 4(d) (excluding any payments or benefits consisting of Other Accrued Compensation and Benefits5(d).

Appears in 1 contract

Samples: Employment Agreement (Microvast Holdings, Inc.)

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