Common use of Statement of Understanding Clause in Contracts

Statement of Understanding. By executing this Agreement, Executive acknowledges that (i) Executive has had at least twenty-one (21) calendar days to consider the terms of this Agreement and has considered its terms for that period of time or has knowingly and voluntarily waived Executive’s right to do so, but Executive agrees that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original twenty-one (21) calendar day consideration period, (ii) Executive has been advised by the Company to consult with an attorney regarding the terms of this Agreement, (iii) Executive has consulted with, or has had sufficient opportunity to consult with, an attorney of Executive’s own choosing regarding the terms of this Agreement, (iv) Executive has read this Agreement and fully understands its terms and their import, (v) except as provided by this Agreement, Executive has no contractual right or claim to the benefits described herein, (vi) the consideration provided for in this Agreement is good and valuable, and (vii) Executive is entering into this Agreement voluntarily, of Executive’s own free will, and without any coercion, undue influence, threat, or intimidation of any kind or type whatsoever.