Common use of Time for Consideration and Revocation Clause in Contracts

Time for Consideration and Revocation. Executive acknowledges that he was initially presented with this Agreement on (the “Receipt Date”). Executive understands that this Agreement shall be of no force or effect, and that he shall not be eligible for the consideration described herein, unless he signs and returns this Agreement [on, but not before, the Separation Date (provided, however, that if the Separation Date is fewer than twenty-one (21) days following the Receipt Date, Executive must sign and return this Agreement no earlier than the Separation Date and no later than the 22nd day after the Receipt Date) (2)] and does not revoke his acceptance in the subsequent seven (7) day period (the day immediately following expiration of such revocation period, the “Agreement Effective Date”).