Common use of Conditions to Receive Severance Payment and the Accelerated Vesting and Extended Exercise Period Severance Benefit Clause in Contracts

Conditions to Receive Severance Payment and the Accelerated Vesting and Extended Exercise Period Severance Benefit. The Severance Payment and the Accelerated Vesting and Extended Exercise Period Severance Benefit will be paid provided that all of the following conditions are timely met: (i) Executive complies with all surviving provisions of this Agreement as specified in Section 12.8 below; and (ii) Executive executes within 21 days following the termination of his employment (and does not revoke within any revocation period provided by applicable law) a full general release in the form attached hereto as Exhibit A, releasing all claims, known or unknown, that Executive may have against Employer and Employer’s affiliates arising out of or in any way related to Executive’s employment or termination of employment with Employer (the “Release”).

Appears in 2 contracts

Samples: Employment and Severance Agreement (Sphere 3D Corp), Employment and Severance Agreement (Overland Storage Inc)

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Conditions to Receive Severance Payment and the Accelerated Vesting and Extended Exercise Period Severance Benefit. The Severance Payment and the Accelerated Vesting and Extended Exercise Period Severance Benefit will be paid provided that all of the following conditions are timely met: (i) Executive complies with all surviving provisions of this Agreement as specified in Section 12.8 below; and (ii) Executive executes within 21 not more than 55 days following the of his termination of his employment employment, the Company has received from the Executive an executed and effective (and does not meaning that any time period for the Executive to revoke within any revocation period provided by applicable lawa release of claims has lapsed without revocation) a full general release substantially in the form attached hereto as Exhibit A, releasing all claims, known or unknown, that Executive may have against Employer and Employer’s affiliates arising out of or in any way related to Executive’s employment or termination of employment with Employer (the “Release”).

Appears in 1 contract

Samples: Employment and Severance Agreement (Overland Storage Inc)

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Conditions to Receive Severance Payment and the Accelerated Vesting and Extended Exercise Period Severance Benefit. The Severance Payment and the Accelerated Vesting and Extended Exercise Period Severance Benefit will be paid provided that all of the following conditions are timely met: (i) Executive complies with all surviving provisions of this Agreement as specified in Section 12.8 11.8 below; and (ii) Executive executes within 21 days following the termination of his employment (and does not revoke within any revocation period provided by applicable law) a full general release in the form attached hereto as Exhibit A, releasing all claims, known or unknown, that Executive may have against Employer and Employer’s affiliates arising out of or in any way related to Executive’s employment or termination of employment with Employer (the “Release”).

Appears in 1 contract

Samples: Employment Agreement (Overland Storage Inc)

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