Common use of Release; Exclusive Remedy Clause in Contracts

Release; Exclusive Remedy. (a) This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any Corporation obligation to the Executive pursuant to Section 5.3(b), the Executive shall, upon or promptly following his last day of employment with the Corporation, provide the Corporation with a valid, executed, written Release (as defined in Section 5.5) (in a form provided by the Corporation) and such release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Corporation shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) unless and until the Release contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules and regulations.

Appears in 4 contracts

Samples: Employment Agreement (Oculus Innovative Sciences, Inc.), Employment Agreement (Oculus Innovative Sciences, Inc.), Employment Agreement (Oculus Innovative Sciences, Inc.)

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Release; Exclusive Remedy. (a) This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any Corporation obligation to the Executive pursuant to Section 5.3(b), the Executive shall, upon or promptly following his last day of employment with the Corporation, shall provide the Corporation with a valid, executedwritten general release of claims (the “Release”) substantially in the form attached hereto as Exhibit C on or before the period provided for in the Release pursuant to applicable law, written Release (as defined in Section 5.5) (in a form provided by the Corporation) and such release Release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Corporation shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) unless and until the Release contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules rules, and regulations.

Appears in 2 contracts

Samples: Employment Agreement (Ruthigen, Inc.), Employment Agreement (Ruthigen, Inc.)

Release; Exclusive Remedy. (a) This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any obligation of the Corporation obligation to the Executive pursuant to Section 5.3(b), the Executive shall, upon or promptly following his last day of employment with the Corporation, provide the Corporation with a valid, executed, written Release (as defined in Section 5.5) (in a form provided by the Corporation) and such release Release (as defined in Section 5.5) shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Corporation shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) unless and until the Release (as defined in Section 5.5) contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules and regulations.

Appears in 2 contracts

Samples: Employment Agreement (Oculus Innovative Sciences, Inc.), Employment Agreement (Oculus Innovative Sciences, Inc.)

Release; Exclusive Remedy. (ai) This Section 5.4 5.6 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any Corporation obligation to the Executive pursuant to Section 5.3(b)Sections 5.2 or 5.5, the Executive shall, upon or promptly following his last day of employment with the Corporation, provide the Corporation with a valid, executed, written Release (as defined in Section 5.55.6(iii) (in a form provided by the Corporation) and such release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Corporation shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) Sections 5.2 or 5.5 unless and until the Release contemplated by this Section 5.4 5.6 becomes irrevocable by the Executive in accordance with all applicable laws, rules and regulations.

Appears in 2 contracts

Samples: Employment Agreement (Oculus Innovative Sciences, Inc.), Employment Agreement (Oculus Innovative Sciences, Inc.)

Release; Exclusive Remedy. (a) This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any Corporation obligation to the Executive pursuant to Section 5.3(b), the Executive shall, upon or promptly following his last day of employment with the Corporation, provide the Corporation with a valid, executed, written Release (as defined in Section 5.5) (in a form provided by the Corporation) and such release Release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Corporation shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) unless and until the Release contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules rules, and regulations.

Appears in 2 contracts

Samples: Employment Agreement (Oculus Innovative Sciences, Inc.), Employment Agreement (Ruthigen, Inc.)

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Release; Exclusive Remedy. (a) This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any Corporation obligation to the Executive pursuant to Section 5.3(b), the Executive shall, upon or promptly following his last day of employment with the Corporation, provide the Corporation with a valid, executed, written Release (as defined in Section 5.5) (in a substantially the form provided by attached to the CorporationChange in Control Agreement) and such release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Corporation shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) unless and until the Release contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules and regulations.

Appears in 1 contract

Samples: Employment Agreement (Qlogic Corp)

Release; Exclusive Remedy. (a) This Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. As a condition precedent to any Corporation obligation to the Executive pursuant to Section 5.3(b), the Executive shall, upon or promptly following his last day of employment with the Corporation, provide the Corporation with a valid, executed, written Mutual Release (as defined in Section 5.5) (in a form provided by the Corporation) and such release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Corporation shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) unless and until the Mutual Release contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules and regulations.

Appears in 1 contract

Samples: Employment Agreement (Oculus Innovative Sciences, Inc.)

Release; Exclusive Remedy. (a) This Thus Section 5.4 shall apply notwithstanding anything else contained in this Agreement to the contrary. contrary As a condition precedent to any Corporation obligation to the Executive pursuant to Section 5.3(b), the Executive shall, upon or promptly following his last day of employment with the Corporation, provide the Corporation with a valid, executed, written Release (as defined in Section 5.5) (in a form provided by the Corporation) and such release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Corporation shall have no obligation to make any payment to the Executive pursuant to Section 5.3(b) unless and until the Release contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules and regulations.

Appears in 1 contract

Samples: Employment Agreement (Oculus Innovative Sciences, Inc.)

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