Common use of Release Requirement Clause in Contracts

Release Requirement. Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares pursuant to the settlement of Vested RSUs under Section 6(a), (b), (c), (d) or (e) above, the Grantee (or the representative of his or her estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, termination of employment or transfer of position, as applicable.

Appears in 8 contracts

Samples: Restricted Stock Unit Award Agreement (Firstenergy Corp), Restricted Stock Unit Award Agreement (Firstenergy Corp), Restricted Stock Unit Award Agreement (Firstenergy Corp)

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Release Requirement. Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares payment pursuant to the settlement of Vested RSUs under Section 6(a), (b), (c), (d) or (e) above, the Grantee (or the representative of his or her estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, termination of employment or transfer of position, as applicable.

Appears in 7 contracts

Samples: Restricted Stock Unit Award Agreement (Firstenergy Corp), Restricted Stock Unit Award Agreement (Firstenergy Corp), Restricted Stock Unit Award Agreement (FirstEnergy Solutions Corp.)

Release Requirement. Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares pursuant to the settlement of Vested RSUs under Section Sections 6(a), (b), (c), (d) or (e) above, the Grantee (or the representative administrator of his or her estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, termination of employment or transfer of position, as applicable.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (FirstEnergy Solutions Corp.), Restricted Stock Unit Award Agreement (FirstEnergy Solutions Corp.)

Release Requirement. Notwithstanding any provision herein in this Agreement to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares pursuant to the settlement of Vested RSUs under Section 6(a), (b), (c), (d) or (e7(b) above, the Grantee (or the representative of his or her estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 30 days following the date of the Grantee’s death, death or termination of employment or transfer of positionemployment, as applicable.

Appears in 2 contracts

Samples: Restricted Stock Units Award Agreement (Firstenergy Corp), Restricted Stock Units Award Agreement (Firstenergy Corp)

Release Requirement. Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares payment pursuant to the settlement of Vested RSUs under Section Sections 6(a), (b), (c), (d) or (e) above, the Grantee (or the representative administrator of his or her estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, termination of employment or transfer of position, as applicable.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (FirstEnergy Solutions Corp.), Restricted Stock Unit Award Agreement (FirstEnergy Solutions Corp.)

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Release Requirement. Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares pursuant to the settlement of Vested RSUs under Section 6(a), (b), (c), (d) or (eb) above, the Grantee (or the representative of his or her estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, death or termination of employment or transfer of positionemployment, as applicable.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Firstenergy Corp)

Release Requirement. Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares pursuant to the settlement of Vested RSUs under Section 6(a), (b), (c), (d) or (e) above, the Grantee (or the representative of his or her the Grantee’s estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, termination of employment or transfer of position, as applicable.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Firstenergy Corp)

Release Requirement. Notwithstanding any provision herein to the contrary, except as otherwise determined by the Company, in order for the Grantee to receive Shares payment pursuant to the settlement of Vested RSUs under Section 6(a), (b), (c), (d) or (e) above, the Grantee (or the representative of his or her the Grantee’s estate) must execute and deliver to the Company a general release and waiver of claims against the Company, its Subsidiaries and their directors, officers, employees, shareholders and other affiliates in a form that is satisfactory to the Company (the “Release”). The Release must become effective and irrevocable under applicable law no later than 60 days following the date of the Grantee’s death, termination of employment or transfer of position, as applicable.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Firstenergy Corp)

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