Common use of Separation Agreement and General Release Clause in Contracts

Separation Agreement and General Release. The Company’s obligation to make the Severance Payment is conditioned on Executive or Executive’s legal representatives executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five days following the Date of Termination; provided that, if Executive should fail to execute (or revokes) such release within 45 days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment. If Executive executes the release within such 45-day period and does not revoke the release within seven days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

Appears in 5 contracts

Samples: Employment Agreement (Hospitality Distribution Inc), Employment Agreement (Hospitality Distribution Inc), Employment Agreement (Cec Entertainment Inc)

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Separation Agreement and General Release. The Company’s obligation to make the Severance Payment is conditioned on Executive or Executive’s or his legal representatives representative’s executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment employment, against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five (5) calendar days following the Date of Termination; provided provided, that, if Executive should fail to execute (or revokes) such release within 45 calendar days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment. If Executive executes the release within such 45-calendar day period and does not revoke the release within seven (7) calendar days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

Appears in 3 contracts

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

Separation Agreement and General Release. The Company’s obligation to make the Severance Payment is conditioned on Executive or Executive’s or his legal representatives representative’s executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment employment, against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five (5) calendar days following the Date of Termination; provided thatprovided, however, that if Executive should fail to execute (or revokes) such release within 45 calendar days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment. If Executive executes the release within such 45-calendar day period and does not revoke the release within seven (7) calendar days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

Appears in 3 contracts

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

Separation Agreement and General Release. The Company’s obligation to make the Severance Payment is conditioned on Executive or Executive’s or his legal representatives representative’s executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment employment, against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five (5) days following the Date of Termination; provided provided, that, if Executive should fail to execute (or revokes) such release within 45 60 days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment. If Executive executes the release within such 4560-day period and does not revoke the release within seven (7) days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

Appears in 3 contracts

Samples: Employment Agreement (EVERTEC, Inc.), Execution (Evertec, LLC), Employment Agreement (Evertec, LLC)

Separation Agreement and General Release. The Company’s obligation to make the Severance Payment is conditioned on Executive Executive’s or Executive’s legal representatives representative’s executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment employment, against the Company and its affiliates (and their respective officers and directors) in a substantially the form reasonably determined by the Companyattached hereto as Exhibit A; provided, which shall be provided by the Company to Executive within five days following the Date of Termination; provided that, that if Executive should fail to execute (or revokes) such release within 45 sixty (60) days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment. If Executive executes the release within such 45-sixty (60) day period and does not revoke the release within seven (7) days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

Appears in 2 contracts

Samples: Employment Agreement (Wmih Corp.), Employment Agreement (Wmih Corp.)

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Separation Agreement and General Release. The Company’s obligation to make the Severance Payment Payments is conditioned on Executive or Executive’s legal representatives executing a separation agreement and general release of claims related to or arising from Executive’s employment with the Company or the termination of employment against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five days following the Date of Termination; provided that, if Executive should fail to execute (or revokes) such release within 45 days following the Date of Termination, the Company shall not have any obligation to provide the Severance PaymentPayments, further provided that Executive shall not be bound by any employment restrictions or covenants should the Company not provide the full Severance Payments in breach of this Agreement. If Executive executes the release within such 45-day period and does not revoke the release within seven days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

Appears in 1 contract

Samples: Employment Agreement (Cec Entertainment Inc)

Separation Agreement and General Release. The Company’s 's obligation to make the Severance Payment is conditioned on Executive or Executive’s 's legal representatives executing a separation agreement and general release of claims related to or arising from Executive’s 's employment with the Company or the termination of employment against the Company and its affiliates (and their respective officers and directors) in a form reasonably determined by the Company, which shall be provided by the Company to Executive within five days following the Date of Termination; provided that, if Executive should fail to execute (or revokes) such release within 45 days following the Date of Termination, the Company shall not have any obligation to provide the Severance Payment. If Executive executes the release within such 45-day period and does not revoke the release within seven days following the execution of the release, the Severance Payment will be made in accordance with Section 4(a)(ii).

Appears in 1 contract

Samples: Employmentagreement (Cec Entertainment Inc)

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