Release Obligation definition

Release Obligation means that: (a) you have signed a general release and waiver of claims in favor of the Company and its affiliates, as part of a termination agreement acceptable to the Company that contains standard provisions including a non-disparagement provision and restrictive covenants to the maximum enforceable extent including without limitation a noncompetition covenant during the period you are eligible to receive Severance Payments, and (b) you have allowed the release and waiver to become fully effective without revocation during any applicable revocation period.
View Source
Release Obligation means that: (a) you have signed a general release and waiver of claims in favor of the Company and its affiliates, as part of a termination agreement reasonably acceptable to you and to the Company, and (b) you have allowed the release and waiver to become fully effective without revocation during any applicable revocation period.
View Source
Release Obligation means that: (a) you have signed a general release and waiver of claims in favor of the Company and its affiliates, as part of a termination agreement acceptable to the Company that contains standard provisions including (i) a mutual non-disparagement provision, (ii) a provision providing that, notwithstanding anything to the contrary in any agreement between you and the Company, each party will be responsible for its own expenses incurred in connection with the enforcement of such agreement, and (iii) customary exclusions from your release of claims including (A) any claims with respect to amounts due and owing to you pursuant to the terms and conditions of this Agreement or under any other employee benefit plan of the Company or its affiliates; (B) any claims or rights you may have to indemnification or advancement of expenses under the by-laws or other applicable corporate governing documents of the Company or any other plan, policy, agreement, or arrangement, or under applicable law; (C) any rights, coverage or entitlements provided to you under any D&O insurance policies paid for by the Company (or its affiliates); and (D) any rights or claims you may have against the Company or its affiliates which arise after the date of the termination agreement, and (b) you have allowed the release and waiver to become fully effective without revocation during any applicable revocation period.
View Source

Examples of Release Obligation in a sentence

  • The Severance will be paid in equal bi-weekly installments as a continuation on the Employer’s regular payroll for a period of nine (9) months (the “Severance Period”), beginning no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after the Executive’s Separation from Service, provided the Executive has fulfilled the Release Obligation.

  • The Severance will be paid in equal bi-weekly installments as a continuation on the Employer’s regular payroll for a period of twelve (12) months (the “Severance Period”), beginning no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after the Executive’s Separation from Service, provided the Executive has fulfilled the Release Obligation.

  • Accelerated Vesting shall take effect as of the earliest date the Executive fulfills the Release Obligation, but shall be deemed effective as of the Executive’s employment termination date.

  • The Company and the Participating Securityholders by signing a Letter of Transmittal or Joinder agree and acknowledge that the Release Obligation is an integral part of this Agreement and the consideration provided for in this Agreement is sufficient and adequate to compensate the Participating Securityholders for agreeing to the Release Obligation.

  • Upon the termination of your employment by the Company without Cause, or by you with Good Reason, within twelve (12) months after the closing of a Change in Control, provided that you meet the Release Obligation and you provide continued services through your termination date, then your Options and RSUs shall vest in full (“Accelerated Vesting”), effective as of the termination date of your employment.

  • In the event the Executive’s termination is for Disability, the Executive must satisfy the Release Obligation in order to receive the Bonus Amount.

  • In addition, subject to your fulfillment of the Release Obligation, as defined below, you will be eligible for the following severance benefits: W▇▇▇▇▇▇ ▇.

  • The Severance will be paid in a single lump-sum cash payment on Employer’s or Employer’s successor’s first regular payroll date following the date on which the Release Obligation has been fulfilled.

  • The undersigned understands and agrees that this Letter of Transmittal will act as a waiver and release of all future claims that may arise from the Release Obligation, whether such claims are currently known, unknown, foreseen, unforeseen, suspected or unsuspected, and agree that this release is intended to and shall constitute a full, complete, absolute and general release of all such claims.

  • The Severance will be paid in a single lump-sum cash payment on Employer’s or the Employer’s successor’s first regular payroll date following the date on which the Release Obligation has been fulfilled.


More Definitions of Release Obligation

Release Obligation means that the Executive has signed a general release and waiver of claims in favor of the Employer and its affiliates that is substantially in the form of Exhibit B hereto (the “Separation Agreement”) and allowed the release and waiver to become fully effective without revocation within sixty (60) days following the Separation Date.
View Source
Release Obligation means that: (a) you have signed a general release and waiver of claims in favor of the Company and its affiliates, as part of a termination agreement acceptable to the Company that contains standard provisions including a nondisparagement provision and restrictive covenants to the maximum enforceable extent including without limitation a noncompetition covenant during the period you are eligible to receive Severance Payments, and (b) you have allowed the release and waiver to become fully effective without revocation during any applicable revocation period.
View Source
Release Obligation means that (a) the Executive has signed a termination agreement that will be presented to Executive before the termination date, and which includes a general release and waiver of claims in favor of the Employer and its affiliates based on provisions the same as or similar to those in Exhibit A hereto, and other standard provisions such as a non-disparagement provision and restrictive covenants, and (b) the Executive has allowed the release and waiver to become fully effective without revocation during any applicable revocation period.
View Source
Release Obligation. : means that the Executive has signed a general release and waiver of claims in favor of the Employer and its affiliates that is substantially in the form of Exhibit B hereto (the “Separation Agreement”) and allowed the release and waiver to become fully effective without revocation within sixty (60) days following the Separation Date.
View Source
Release Obligation means that (a) you have signed a general release and waiver of all claims in favor of the Company, its affiliates and any acquiring company (or its subsidiaries or parent), as part of a termination agreement acceptable to the Company that contains standard provisions including a nondisparagement provision and restrictive covenants to the maximum enforceable extent, and (b) you have allowed the release and waiver to become fully effective without revocation during any applicable revocation period.
View Source
Release Obligation shall have the meaning set forth in the Letter of Transmittal.
View Source

Related to Release Obligation

  • Capital Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP.

  • Financing Lease Obligation means, as applied to any Person, an obligation that is required to be accounted for as a financing or capital lease (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP. At the time any determination thereof is to be made, the amount of the liability in respect of a financing or capital lease would be the amount required to be reflected as a liability on such balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Synthetic Lease Obligation means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

  • Capital Lease Obligations of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

  • Finance Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a Finance Lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP.