Common use of Older Workers Benefit Protection Act Clause in Contracts

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies with the Older Workers Benefit Protection Act. Accordingly, this Agreement requires, and Employee acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination in Employment Act of 1967, is Employee’s knowing and voluntary act; (c) Employee is hereby advised to consult with an attorney prior to executing this Agreement; (d) Employee has forty-five (45) calendar days within which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement.

Appears in 3 contracts

Samples: Consulting and Noncompete Agreement (Carolina Bank Holdings Inc), Consulting and Noncompete Agreement (First Bancorp /Nc/), Severance Agreement and Release of Claims (First Bancorp /Nc/)

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Older Workers Benefit Protection Act. Employee acknowledges that it This Agreement is subject to the mutual intent terms of the parties that the full release contained in this Agreement fully complies with the Older Workers Benefit Protection ActAct of 1990 (the "OWBPA"). AccordinglyThe OWBPA provides that an individual cannot waive a right or claim under the Age Discrimination in Employment Act unless the waiver is knowing and voluntary. Pursuant to the terms of the OWBPA, Boyd xxxnowledges and agrees that he has executed this Agreement requiresvoluntarily, and Employee with full knowledge of its consequences. In addition, Boyd xxxeby acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature has been written in a manner that is calculated to be understood, and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreementis understood, by Boyd; (bx) execution the release provisions of this Agreement and the full release herein, which specifically includes a waiver of apply to any claims rights Boyd xxx have under the Age Discrimination in Employment Act of 1967("ADEA"), is Employee’s knowing including the rights to file a claim for age discrimination against the MTI Releasees with the Equal Employment Opportunity Commission, and voluntary actto file a lawsuit against the MTI Releasees for age discrimination; (c) Employee is hereby the release provisions of this Agreement do not apply to any rights or claims Boyd xxx have under the ADEA that arise after the date he executes this Agreement; (d) MTI does not have a preexisting duty to pay Boyd xxx Sevexxxxx Xxxment identified in paragraphs 1(a) of this Agreement; (e) Boyd xxx been advised to consult with an attorney prior to executing this Agreement; and (df) Employee has fortyBoyd xxx a period of at least twenty-five (45) calendar one days within which to consider review this Agreement prior to executing it and Employee’s signature on that Boyd xxx voluntarily chosen to execute this Agreement prior to the expiration execution of this forty21-five day period; and (45g) day Boyd xxx a period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) at least seven days after execution of this Agreement in the event Employee signs this Agreement, Employee has another seven (7) calendar days which to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does and that this Agreement shall not become effective until the expiration of this seven-day period; period (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement"Effective Date").

Appears in 2 contracts

Samples: Severance and Release Agreement (Mti Technology Corp), Severance and Release Agreement (Mti Technology Corp)

Older Workers Benefit Protection Act. Employee acknowledges that it This Agreement is intended to satisfy the mutual intent requirements of the parties that the full release contained in this Agreement fully complies with the Older Workers Workers’ Benefit Protection Act, 29 U.S.C. sec. Accordingly, 626(f). Executive understands and acknowledges that she has been advised by this Agreement requires, and Employee acknowledges and agrees writing that: (a) she has read and understands the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution terms of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination she has been advised in Employment Act of 1967, is Employee’s knowing and voluntary act; (c) Employee is hereby advised writing to consult with an attorney prior to before executing this Agreement; (c) she has obtained and considered such legal counsel as she deems necessary; (d) Employee she has forty-five (45) calendar been given 21 days within which to consider this Agreement and Employee’s signature on this Agreement prior (although Executive may elect not to use the expiration of this fortyfull 21-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainderat Executive’s option); and (e) in by signing this Agreement, Executive acknowledges that she does so freely, knowingly, and voluntarily. This Agreement shall not become effective or enforceable until the event Employee eighth day after Executive signs this Agreement. In other words, Employee has another Executive may revoke her acceptance of this Agreement within seven (7) calendar days after the date she signs it. Executive’s revocation must be in writing and received by Groupon, Inc., 000 X. Xxxxxxx Xxx., Xxxxx 000, Xxxxxxx, XX 00000, Attention: Xxxxx Xxxxxxxxxx by 5:00 p.m. Central Time on the seventh day in order to be effective. If Executive does not revoke it by delivering a written notice acceptance within the seven (7) day period, Executive’s acceptance of revocation to this Agreement shall become binding and enforceable on the individual addressee identified in eighth day (the Notice provision below (Section 17“Effective Date”), and this . This Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to waive or release any of Employee’s rights or claims that Executive may have under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement. In addition, this Agreement does not prohibit Executive from challenging the validity of this Agreement’s waiver and release of claims under the Age Discrimination in Employment Act.

Appears in 2 contracts

Samples: Confidential Separation Agreement and General Mutual Release (Groupon, Inc.), Confidential Separation Agreement and General Mutual Release (Groupon, Inc.)

Older Workers Benefit Protection Act. Employee acknowledges that it This Agreement is subject to the mutual intent terms of the parties that the full release contained in this Agreement fully complies with the Older Workers Benefit Protection ActAct of 1990 (the “OWBPA”). Accordingly, this Agreement requires, and Employee acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes The OWBPA provides that an individual cannot waive a waiver of any claims right or claim under the Age Discrimination in Employment Act of 1967, (“ADEA”) unless the waiver is Employee’s knowing and voluntary actvoluntary. Pursuant to the terms of the OWBPA, Executive acknowledges and agrees that Executive has executed this Agreement voluntarily, and with full knowledge of its consequences. In addition, Executive acknowledges and agrees that: (i) this Agreement has been written in a manner that is calculated to be understood, and is understood, by Executive; (cii) Employee is hereby the release provisions of this Agreement apply to any rights that Executive may have to file a lawsuit against Company for age discrimination under the ADEA; (iii) the release provisions of this Agreement do not apply to any rights or claims that Executive may have under the ADEA that arise after the date Executive executes this Agreement; (iv) Company does not have a preexisting duty to pay the amounts or enter into the agreements identified in this Agreement; and (v) Executive has been advised in writing to consult with an attorney prior regarding the terms and conditions of this Agreement. Upon consultation with Executive’s attorney, or Executive’s decision not to executing consult with an attorney, Executive agrees, covenants and represents that the separation of Executive’s employment shall not for any purpose be deemed to have resulted from an “exit incentive program” or “any other termination program offered to a group or class of employees,” as those phrases are used in the OWBPA and its implementing regulations. Accordingly, Executive further acknowledges and agrees that: (i) Executive shall have a period of 21 days in which to consider whether to execute this Agreement; (dii) Employee has forty-five (45) calendar days within which to consider if Executive signs this Agreement and Employee’s signature on this Agreement prior to the before expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does not become effective until the expiration of this seven21-day period; (f) Employee , Executive has read and fully understands the terms of this Agreementdone so voluntarily; and (giii) nothing contained in Executive shall have a period of seven days after execution of this Agreement purports in which to release any of Employeerevoke this Agreement. Any such revocation must be in writing and must be delivered by e-mail to Xxx Xxxxxxx at xxxxxxxx@xxxxxx.xxx or Xxxx Xxxxxx at xxxxxxx@xxxxxx.xxx, before 5:00 p.m. on the seventh day after Executive’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement. Executive further agrees that any modifications, material or otherwise, made to this Agreement do not re-start or affect in any manner the original 21 calendar day consideration period.

Appears in 2 contracts

Samples: Stock Purchase and Issuance Agreement (Hylete, Inc.), Stock Purchase and Issuance Agreement (Hylete, Inc.)

Older Workers Benefit Protection Act. Employee acknowledges that it This Separation Agreement is intended to satisfy the mutual intent requirements of the parties that the full release contained in this Agreement fully complies with the Older Workers Workers' Benefit Protection Act, 29 U.S.C. Section 626(f). Accordingly, this Agreement requires, and Employee acknowledges and agrees that: (a) that Employee has read and understand the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution terms of this Separation Agreement; (b) execution of that this Separation Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination advises Employee in Employment Act of 1967, is Employee’s knowing and voluntary act; (c) writing that Employee is hereby advised to may consult with an attorney prior to before executing this Separation Agreement, if desired; (d) that Employee has fortyobtained and considered such legal counsel as Employee deems necessary; that Employee has been given twenty-five (45) calendar one days within which to consider whether or not to enter into this Separation Agreement and Employee’s signature on this Agreement prior (although Employee may elect not to use the expiration of this fortyfull 21-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainderat Employee's option); (e) in the event Employee signs and that by signing this Separation Agreement, Employee has another acknowledges that Employee does so freely, knowingly, and voluntarily. The Separation Agreement shall not become effective or enforceable until the eighth day after Employee signs the Separation Agreement ("Effective Date"). In other words, the Employee may revoke acceptance of this Separation Agreement within seven (7) calendar days after signing it. The Employee's revocation must be in writing and received by Xxxxxxx Xxxxx, by 5:00 p.m. Pacific Standard Time on the seventh day in order to revoke it by delivering a written notice of revocation to be effective. The payments and benefits described in section 1 and its subparts will become due and payable after the individual addressee identified in Effective Date, provided the Notice provision below (Section 17), and this Separation Agreement has not been revoked. This Separation Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to waive or release any of Employee’s rights or claims that Employee may have under the Age Discrimination in Employment Act ADEA that may arise from acts occurring after the date of the execution of this Separation Agreement.

Appears in 1 contract

Samples: Confidential Separation Agreement (Fidelity National Information Solutions Inc)

Older Workers Benefit Protection Act. Employee acknowledges that it This Agreement is subject to the mutual intent terms of the parties that the full release contained in this Agreement fully complies with the Older Workers Benefit Protection ActAct of 1990 (the “OWBPA”). AccordinglyThe OWBPA provides that an individual cannot waive a right or claim under the Age Discrimination in Employment Act (“ADEA”) unless the waiver is knowing and voluntary. Pursuant to the terms of the 672/027557-0001 1010103.06 a05/15/09 8 OWBPA, Fxxxxxxxxx acknowledges and agrees that Fxxxxxxxxx has executed this Agreement requiresvoluntarily, and Employee with full knowledge of its consequences. In addition, Fxxxxxxxxx hereby acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds has been written in a manner that is calculated to be understood, and is understood, by Fxxxxxxxxx; (b) the nature release provisions of this Agreement apply to rights and scope claims that Fxxxxxxxxx may have under the ADEA, including the right to file a lawsuit against the Company for age discrimination; (c) the release provisions of this Agreement do not apply to any consideration to which Employee would otherwise rights or claims that Fxxxxxxxxx may have been legally entitled to receive absent Employee’s execution of under the ADEA that arise after the date Fxxxxxxxxx executes this Agreement; (bd) execution of the Company does not have a preexisting duty to pay the Separation Amount identified in this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination in Employment Act of 1967, is Employee’s knowing and voluntary actAgreement; (ce) Employee is hereby Fxxxxxxxxx has been advised in writing to consult with an attorney prior to executing this Agreement; (df) Employee has forty-five (45) calendar Fxxxxxxxxx shall have a period of 21 days within in which to consider this Agreement and Employee’s signature on the terms of this Agreement prior to the expiration its execution; and (g) Fxxxxxxxxx shall have a period of seven days after execution of this forty-five (45) day period (should Employee choose not Agreement in which to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs revoke this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and . Fxxxxxxxxx further understands that this Agreement does shall not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement.

Appears in 1 contract

Samples: Separation Agreement and General Release of Claims (Victory Energy Corp)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies with Pursuant to the Older Workers Benefit Protection Act. Accordingly, Executive acknowledges and agree that (i) this Agreement requires, and Employee acknowledges and agrees that: is written in a manner calculated to be understood by Executive; (aii) the consideration provided to Employee under this Agreement exceeds the nature represents Executive’s knowing and scope voluntary waiver and release of any consideration to which Employee would otherwise and all claims that Executive might have been legally entitled to receive absent Employee’s execution including, but not limited to, any claims arising under the ADEA; (iii) Executive has not waived any claim under the ADEA that may arise after the date of this Agreement; (biv) execution of the consideration that Employee will receive in exchange for this Agreement Agreement, i.e., the payment and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination benefits set forth in Employment Act of 1967Paragraphs 3(a) and 3(b), is Employee’s knowing and voluntary actsomething of value to which Employee is not already entitled; (cv) Employee Executive is hereby being advised to consult with an attorney prior to executing this Agreement; (dvi) Employee Executive has fortytwenty-five one (4521) calendar days within from the date of his receipt of this Agreement in which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; Agreement (including, without limitation, each Party’s release and (g) nothing contained in this Agreement purports to release waiver of any of Employee’s rights or and all claims under the Age Discrimination in Employment Act that may arise from acts occurring Act) before executing it; (vii) Executive will have seven (7) days after the date of the his execution of this Agreement (which was the date hereof) in which to revoke this Agreement by written notice of revocation that must be received by Xxxxxx X. Xxxxxxx, Chief Executive Officer, 00 Xxxx Xxxxxxxx Xxxx., Xxxxxx, XX 00000, no later than 5:00 p.m. on the seventh day after Executive has signed this Agreement; and (viii) this Agreement will not become effective and enforceable until the seven (7) day revocation period has expired without revocation of the Agreement by Executive (the “Revocation Period”).

Appears in 1 contract

Samples: Separation and General Release Agreement (Providence Service Corp)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies In conformity with the Older Workers Benefit Protection Act. AccordinglyAct (OWBPA), this Agreement requires, and Employee acknowledges and agrees that: that (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration is written in a manner calculated to which Employee would otherwise have been legally entitled to receive absent be understood by Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination in Employment Act of 1967, is represents Employee’s knowing and voluntary actwaiver and release of any and all Claims described in Section 3(b) that Employee might have including any such Claims arising under the ADEA; (c) Employee has not waived any Claim under the ADEA that may arise after the date Employee executes this Agreement; (d) the consideration Employee will receive in exchange for this Agreement (i.e., the payments and benefits set forth above) is something of value to which Employee is not already entitled; (e) Employee is hereby being advised to consult with an attorney prior to executing this Agreement; (d) Employee has forty-five (45) calendar days within which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of was provided 21 days to consider this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee has seven days following Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement (the “Revocation Period”) in which to revoke it by written notice of revocation that must be delivered to and received by Southwest Heritage Bank, Attn: Human Resources, 8000 X. Xxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000, no later than the seventh day after Employee has signed this Agreement. This Agreement will not become effective and enforceable until the eighth day after Employee’s execution of this Agreement without revocation.

Appears in 1 contract

Samples: Separation Agreement and Release (Bancorp 34, Inc.)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies In conformity with the Older Workers Benefit Protection Act. AccordinglyAct (OWBPA), Employee acknowledges that (i) this Agreement requiresis written in a manner calculated to be understood by Employee, and Employee acknowledges and agrees that: (aii) the consideration provided to Employee under this Agreement exceeds the nature creates legally binding obligations and scope represents Employee’s knowing and voluntary waiver and release of any consideration to which and all claims described in Section 9 that Employee would otherwise might have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release hereinincluding, which specifically includes a waiver of but not limited to, any such claims arising under the Age Discrimination in Employment Act of 1967, as amended by the Older Workers Benefit Protection Act of 1990 (the “ADEA”), (iii) Employee has not waived any claim under the ADEA that may arise after the date Employee executes this Agreement, (iv) the consideration Employee will receive in exchange for this Agreement (i.e., the payments and benefits set forth above) is Employee’s knowing and voluntary act; something of value to which Employee is not already entitled, (cv) Employee is hereby being advised to consult with an attorney prior to executing this Agreement; , (dvi) Employee was provided 21 days to consider this Agreement, and (vii) Employee has forty-five (45) calendar seven days within which to consider following Employee’s execution of this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days which to revoke it by delivering a written notice of revocation that must be delivered to and received by REV Group, Inc., Attn: Human Resources, 000 X. Xxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxxxxxx, Xxxxxxxxx, 00000, no later than the individual addressee identified in the Notice provision below (Section 17), and seventh day after Employee has signed this Agreement. This Agreement does will not become effective and enforceable until the expiration eighth day after Employee’s execution of this seven-Agreement without revocation (such eighth day period; (f) Employee has read and fully understands or, if later, the terms date Employer receives this executed Agreement from Employee, is the Effective Date of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement).

Appears in 1 contract

Samples: Separation Agreement and General Release (REV Group, Inc.)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this This Agreement fully complies with the Older Workers Benefit Protection Act. Accordingly, this Agreement requires, constitutes a knowing and Employee acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a voluntary waiver of any and all rights or claims that Employee has or may have under the Federal Age Discrimination in In Employment Act (the “ADEA”), as amended by the Older Workers' Benefit Protection Act of 19671990, is 29 U.S.C. §§ 621 et seq. This paragraph and this Agreement are written in a manner calculated to be understood by Employee’s knowing and voluntary act; (c) . Employee is hereby advised in writing to consult with an attorney prior to executing before signing this Agreement; (d) . Employee has forty-five (45) calendar had a reasonable time of up to 45 days within in which to consider signing this Agreement. If Employee decides not to use all 45 days, Employee knowingly and voluntarily waives any claims that Employee was not given the 45-day period or did not use the entire 45 days to consider this Agreement. Employee may revoke this Agreement and Employee’s signature on this Agreement prior to at any time within the expiration of this forty7-five (45) day period (should Employee choose not to take following the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event date Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it Agreement by delivering a providing written notice of revocation to the individual addressee identified Company by email to xxxxxxx@xxxxxxxxx.xxx so that said revocation notice is received before the expiration of the 7-day revocation period (the “Revocation Period”). If Employee revokes the Agreement within the Revocation Period, Employee will only be entitled to receive the Accrued Obligations as provided for in the Notice provision below (Employment Agreement, none of the equity awards granted or issued to Employee by the Company, including, without limitation, the Option Award, shall be cancelled pursuant to Section 17), 2.5 hereof and this Agreement does not become effective until (including the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained release set forth in this Agreement purports to release any of Employee’s rights or claims Section 3) shall become null and void. Employee further acknowledges that the Company has provided Employee with ADEA disclosure information (under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement29 U.S.C. § 626(f)(1)(H)).

Appears in 1 contract

Samples: Separation Agreement (Seneca Biopharma, Inc.)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies with the Older Workers Benefit Protection Act. Accordingly, this Agreement requires, and Employee acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination in Employment Act of 1967, is Employee’s knowing and voluntary act; (c) Employee is hereby advised to consult with an attorney prior to executing this Agreement; (d) Employee has fortytwenty-five one (4521) calendar days within which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this fortytwenty-five one (4521) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 1714), and this Agreement does not become effective until the expiration of this seven-day revocation period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement.

Appears in 1 contract

Samples: Agreement (United Bankshares Inc/Wv)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this This Agreement fully complies with the Older Workers Benefit Protection Act. Accordingly, this Agreement requires, constitutes a knowing and Employee acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a voluntary waiver of any and all rights or claims that Employee has or may have under the Federal Age Discrimination in In Employment Act, as amended by the Older Workers’ Benefit Protection Act of 19671990, is 29 U.S.C. §§ 621 et seq. This paragraph and this Agreement are written in a manner calculated to be understood by Employee’s knowing and voluntary act; (c) . Employee is hereby advised in writing to consult with an attorney prior to executing before signing this Agreement; (d) . Employee has forty-five (45) calendar days within which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) acknowledges that, in the event Employee signs return for this Agreement, Employee will receive consideration beyond that which Employee was already entitled to receive before entering into this Agreement. Employee acknowledges that Employee has another seven (7) calendar had a reasonable time of 21 days in which to consider signing this Agreement. If Employee decides not to use all 21 days, Employee knowingly and voluntarily waives any claims that Employee was not given the 21-day period or did not use the entire 21 days to consider this Agreement. Employee may revoke it the waiver of claims under the ADEA at any time within the 7-day period following the date Employee signs this Agreement by delivering a providing written notice of revocation to the individual addressee identified Company, directed to Xxxxx Xxxxxx at xxxxx.xxxxxx@xxxxx.xxx. The waiver of claims under the ADEA as set forth in this Paragraph shall not become effective or enforceable until 12:01 a.m. on the Notice provision below 8th day after Employee signs the Agreement. Notwithstanding Employee’s right to revoke the waiver of claims under the ADEA, the remaining terms of this Agreement shall become effective and enforceable as of the date that Employee signs this Agreement, except that if Employee revokes the waiver of claims under the ADEA, Employee will receive only Five Thousand Dollars and Zero Cents (Section 17$5,000.00) (payable in one lump sum within 10 days after revocation), and this Agreement does not become effective until the expiration remainder of this seven-day period; (f) Employee has read and fully understands the terms consideration set forth in Paragraph 2 of this Agreement; and (g) nothing contained in . Employee understands that Employee may not sign this Agreement purports prior to release any September 15, 2021, and that if Employee does so, the Agreement shall be null and void and of Employee’s rights no force or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreementeffect.

Appears in 1 contract

Samples: Separation and General Release Agreement (Idw Media Holdings, Inc.)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies with Pursuant to the Older Workers Benefit Protection Act. Accordingly, Executive acknowledges and agree that (i) this Agreement requires, and Employee acknowledges and agrees that: is written in a manner calculated to be understood by Executive; (aii) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination in Employment Act of 1967, is Employeerepresents Executive’s knowing and voluntary actwaiver and release of any and all claims that Executive might have including, but not limited to, any claims arising under the ADEA; (ciii) Executive has not waived any claim under the ADEA that may arise after the Effective Date; (iv) the consideration that Employee will receive in exchange for this Agreement, i.e., the amounts and benefits set forth in Paragraph 3, is something of value to which Employee is not already entitled; (v) Executive is hereby being advised to consult with an attorney prior to executing this Agreement; (dvi) Employee Executive has fortytwenty-five one (4521) calendar days within from the date of his receipt of this Agreement in which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; Agreement (including, without limitation, each Party’s release and (g) nothing contained in this Agreement purports to release waiver of any of Employee’s rights or and all claims under the Age Discrimination in Employment Act that may arise from acts occurring Act) before executing it; (vii) Executive will have seven (7) days after the date of the his execution of this Agreement (which was the date hereof) in which to revoke this Agreement by written notice of revocation that must be received by Xxxxxxxxxxx Xxxxxxxxxx, c/o Coliseum Capital Partners, Metro Center, Xxx Xxxxxxx Xxxxx, Xxxxxxxx, XX 00000, no later than 5:00 p.m. on the seventh (7th) day after Executive has signed this Agreement; and (viii) this Agreement will not become effective and enforceable until the seven (7)-day revocation period (the “Revocation Period”) has expired without revocation of the Agreement by Executive.

Appears in 1 contract

Samples: Separation and General Release Agreement (Providence Service Corp)

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Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies In accordance with the Older Workers Benefit Protection Act, Employee understands and acknowledges that he has been advised to consult an attorney before accepting the Separation Agreement and signing this Release. Accordingly, Employee further understands and acknowledges that he has up to 21 days from the Separation Date to sign this Agreement requires, Release by dating and Employee acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution signing a copy of this Agreement; Release and returning it to the Company, although it may be accepted at any time within such period. Employee further understands that, once having signed this Release, Employee will have an additional seven (b7) execution days within which to revoke the release of this Agreement and the full release herein, which specifically includes a waiver of any claims solely under the Age Discrimination in Employment Act of 1967(the “ADEA Release”), is Employee’s knowing and voluntary act; (c) Employee is hereby advised to consult with an attorney prior to executing this Agreement; (d) Employee has forty-five (45) calendar days within which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation of the ADEA Release to the individual addressee identified in the Notice provision below (Section 17)Xxxxxxxxx Xxxx, and this Agreement does not become effective until the expiration of this Managing Director, Human Resources. If Employee revokes such ADEA Release during such seven-day period; (f, Employee will not be eligible for the consideration under Section 1(c) Employee has read and fully understands of the terms of this Separation Agreement; and (g) nothing contained in this Agreement purports to release any of . Employee’s rights or claims under revocation of the Age Discrimination ADEA Release shall not impact the Release in Employment Act that may arise from acts occurring after any other way, and the Release is otherwise irrevocable on the date of the execution of this Agreement.signed. EMPLOYEE UNDERSTANDS THAT HE IS ENTITLED TO CONSULT WITH, AND HAS CONSULTED WITH, AN ATTORNEY PRIOR TO SIGNING THE SEPARATION AGREEMENT AND THIS RELEASE AND THAT HE IS GIVING UP ANY LEGAL CLAIMS HE HAS AGAINST THE PARTIES RELEASED ABOVE BY SIGNING THIS RELEASE. EMPLOYEE IS SIGNING THIS AGREEMENT KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE BENEFITS DESCRIBED IN SECTION 1 OF THE SEPARATION AGREEMENT. Dated: Employee

Appears in 1 contract

Samples: Separation Agreement (E Trade Financial Corp)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies In compliance with the Older Workers Benefit Protection Act and the Age Discrimination in Employment Act. Accordingly, this Agreement requires, and Employee hereby acknowledges and agrees that: (aA) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of fully understands this Agreement; (bB) execution of this Agreement specifically applies to a knowing and the full voluntary release herein, which specifically includes a waiver of any rights or claims Employee may have against Company under the Federal Age Discrimination in Employment Act of 1967, is Employee’s knowing and voluntary actas amended arising on or before the date the Employee signs this Agreement; (cC) this Agreement does not purport to waive rights or claims that may arise from acts or events occurring after the date that this Agreement is executed; (D) the consideration provided for in this Agreement and the provisions of this paragraph are in addition to that to which Employee is already entitled; (E) Employee is hereby has been advised and encouraged to consult with an attorney prior to executing signing this Agreement; (dF) Employee has fortybeen given a period of twenty-five one (4521) calendar days within which to consider whether to sign this Agreement; (G) this Agreement and shall be revocable for the seven (7) day period following execution of this Agreement by Employee’s signature on , provided Employee delivers written notice of such revocation to the Executive Vice President, Human Resources within the seven (7) day period. Accordingly, this Agreement shall not become effective or enforceable until the expiration of this seven (7) day revocation period. Should Employee choose to sign this Agreement prior to the expiration of this fortythe twenty-five one (4521) day period set forth in subparagraph (should F), which is solely the Employee’s choice, Employee choose not to take acknowledges and agrees that Employee knowingly and voluntarily has waived the full period offered) constitutes an irrevocable waiver amount of said period or its remainder; (e) in time the event Company provided within which to consider this Agreement. Employee signs and the Company agree that changes to this Agreement, Employee has another seven whether material or not material, will not restart the twenty-one (721) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement.

Appears in 1 contract

Samples: Agreement and General Release (BankUnited, Inc.)

Older Workers Benefit Protection Act. Employee acknowledges Xx. Xxxxxxxxxx understands that it this Release is intended to satisfy the mutual intent requirements of the parties that the full release contained in this Agreement fully complies with the Older Workers Workers’ Benefit Protection Act, 29 U.S.C. § 626{f). TW /s/ TW KB /s/ KB please initial each page Accordingly, by signing this Agreement requiresRelease, and Employee Xx. Xxxxxxxxxx acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination in Employment Act of 1967, is Employee’s knowing and voluntary act; (c) Employee is hereby advised to consult with an attorney prior to executing this Agreement; (d) Employee has forty-five (45) calendar days within which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does not become effective until the expiration of this seven-day period; (f) Employee he has read and fully understands the terms of this AgreementRelease; (b) that this Release advises him in writing that he may consult with an attorney before executing this agreement, if desired; (c) that he has obtained and considered such legal counsel as he deems necessary; (d) that he has twenty-one (21) days to consider whether or not to sign this Release (although he may elect not to use the full 21-day period); and (ge) nothing contained that by signing this Release, he acknowledges that he does so freely, knowingly, and voluntarily. The Release shall not become effective or enforceable until the eighth day after Xx. Xxxxxxxxxx signs it. In other words, Xx. Xxxxxxxxxx may revoke acceptance of this Release within seven (7) days after signing it. Any revocation must be in this writing and received by the Company’s Chief Executive Officer, by 5:00 p.m. Pacific Time on the seventh day in order to be effective (“Release Effective Date”). Any payments and benefits described in Sections 5 and 6 of the Transition Agreement purports to for which Xx. Xxxxxxxxxx is eligible then will become due and payable, provided the Release has not been revoked. This Release does not waive or release any of Employee’s rights or claims that Xx. Xxxxxxxxxx may have under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement.Release. THE PARTIES TO THIS RELEASE HAVE READ THE FOREGOING RELEASE AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE FREELY AND VOLUNTARILY EXECUTED THIS RELEASE ON THE DATES SHOWN BELOW. Dated: By: Xxxxxx X. Xxxxxxxxxx Dated: By: Xxx X. Xxxxxxxxxxxx Chairman & CEO TW /s/ TW KB /s/ KB please initial each page SCHEDULE 7.1 Number Grant Date Plan Type Granted Price Exercised* Vested* Unvested* IS002014 6/18/2002 1996 ISO 4,008 $ 24.9500 0.00 593 3,415 IS002384 6/18/2003 1996 ISO 2,222 $ 47.6600 0.00 0 2,222 NQ000176 6/18/2002 1996 NQ 52,242 $ 24.9500 0.00 50,112 2,130 NQ000521 6/18/2003 1996 NQ 47,778 $ 47.6600 0.00 32,575 15,203 * Information as of the Effective Date. TW /s/ TW KB /s/ KB please initial each page SCHEDULE 7.2 Number Grant Date Plan Type Granted Price Exercised* Vested* Unvested* IS002499 6/18/2004 1996 ISO 2,263 $ 44.1800 0.00 0 2,263 IS002625 6/17/2005 1996 ISO 1,873 $ 53.3800 0.00 0 1,873 NQ006270 6/18/2004 1996 NQ 32,737 $ 44.1800 0.00 14,032 18,705 NQ006475 10/22/2004 1996 NQ 15,000 $ 49.1500 0.00 4,688 10,312 NQ006777 6/17/2005 1996 NQ 48,127 $ 53.3800 0.00 6,250 41,877 * Information as of the Effective Date. TW /s/ TW KB /s/ KB please initial each page

Appears in 1 contract

Samples: Transition Agreement (Biosite Inc)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in and Company intend for this Agreement fully complies to comply with Section 201 of the Older Workers Benefit Protection ActAct of 1990. Accordingly, this Agreement requires, and Employee acknowledges and agrees thatrepresents as follows: (a) the consideration provided to Employee under has read and understands this Agreement exceeds the nature and scope all of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreementits terms, conditions, requirements and obligations; (b) execution of by executing this Agreement, Employee does not waive rights or claims that may arise after the date this Agreement is executed; (c) Employee knowingly and the full release herein, which specifically includes a waiver of any voluntarily waives such claims as he may have under the Age Discrimination in Employment Act in exchange for consideration of 1967, value to which he is Employee’s knowing and voluntary act; (c) Employee is hereby advised to consult with an attorney prior to executing this Agreementnot otherwise entitled; (d) Employee has fortybeen advised in writing by Company to consult with an attorney before signing this Agreement, and has had the opportunity to consult with an attorney before signing this Agreement and Employee is fully satisfied that he understands it completely; (e) Employee has had a period of twenty-five one (4521) calendar days within commencing on the date he received this Agreement in which to consider this Agreement before signing it, and Employee’s signature on he was permitted to use as much or as little of that period as he wished prior to signing; however, Employee acknowledges that no proposal or actual change that he makes with respect to this Agreement prior to the expiration of will restart this fortytwenty-five one (4521) day period; and (f) for a period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and this Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of following the execution of this Agreement, Employee may revoke this Agreement, and this Agreement shall not become effective or enforceable until this seven (7) day revocation period has expired. Should Employee wish to do so, Employee must deliver written notice of his revocation to Company no later than 5:00 p.m. on the seventh (7th) day after Employee has signed this Agreement. If Employee revokes this Agreement, it shall not be effective or enforceable, and he will not receive the Benefits referenced in paragraph 2, above.

Appears in 1 contract

Samples: General Release and Confidentiality Agreement (Repro Med Systems Inc)

Older Workers Benefit Protection Act. Employee acknowledges that it This Agreement is subject to the mutual intent terms of the parties that the full release contained in this Agreement fully complies with the Older Workers Benefit Protection ActAct of 1990 (the "OWBPA"). AccordinglyThe OWBPA provides that an individual cannot waive a right or claim under the Age Discrimination in Employment Act ("ADEA") unless the waiver is knowing and voluntary. Pursuant to the terms of the OWBPA, Delk acknowledges and agrees that he has executed this Agreement requiresvoluxxxxily, and Employee with full knowledge of its consequences. In addition, Delk hereby acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature has been xxxtten in a manner that is calculated to be understood, and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreementis understood, by Delk; (b) execution the release provisions of this Agreement and the full release herein, which specifically includes a waiver of any claims apply to rights anx xxaims that Delk may have under the Age Discrimination in Employment Act of 1967ADEA, is Employee’s knowing and voluntary actincluding the right to file a lawsuit axxxxst the Company for age discrimination; (c) Employee is hereby the release provisions of this Agreement do not apply to any rights or claims that Delk may have under the ADEA that arise after the date Delk executes xxxx Agreement; (d) Delk has been advised in writing to consult xxxsult with an attorney prior to executing xxxcuting this Agreement; (de) Employee has forty-five (45) calendar Delk shall have a period of 21 days within in which to consider this Agreement and Employee’s signature on this the terms of xxxs Agreement prior to the expiration its execution; and (g) Delk shall have a period of seven days after execution of this forty-five (45) day period (should Employee choose not Agreemxxx in which to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs revoke this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and . Delk further understands that this Agreement does shall not become effective until the effectixx xntil expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement.

Appears in 1 contract

Samples: Separation and Release Agreement (Advanced Materials Group Inc)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies In accordance with the Older Workers Benefit Protection Act, Employee understands and acknowledges that he has been advised to consult an attorney before accepting the Separation Agreement and signing this Release. Accordingly, Employee further understands and acknowledges that he has up to 21 days from the Separation Date to sign this Agreement requires, Release by dating and Employee acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution signing a copy of this Agreement; Release and returning it to the Company, although it may be accepted at any time within such period. Employee further understands that, once having signed this Release, Employee will have an additional seven (b7) execution days within which to revoke the release of this Agreement and the full release herein, which specifically includes a waiver of any claims solely under the Age Discrimination in Employment Act of 1967(the “ADEA Release”), is Employee’s knowing and voluntary act; (c) Employee is hereby advised to consult with an attorney prior to executing this Agreement; (d) Employee has forty-five (45) calendar days within which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this forty-five (45) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation of the ADEA Release to the individual addressee identified in the Notice provision below (Section 17)Xxxxxxxxx Xxxx, and this Agreement does not become effective until the expiration of this Managing Director, Human Resources. If Employee revokes such ADEA Release during such seven-day period; (f, Employee will not be eligible for the consideration under Section 1(c) Employee has read and fully understands of the terms of this Separation Agreement; and (g) nothing contained in this Agreement purports to release any of . Employee’s rights or claims under revocation of the Age Discrimination ADEA Release shall not impact the Release in Employment Act that may arise from acts occurring after any other way, and the Release is otherwise irrevocable on the date of the execution of this Agreement.signed. EMPLOYEE UNDERSTANDS THAT HE IS ENTITLED TO CONSULT WITH, AND HAS CONSULTED WITH, AN ATTORNEY PRIOR TO SIGNING THE SEPARATION AGREEMENT AND THIS RELEASE AND THAT HE IS GIVING UP ANY LEGAL CLAIMS HE HAS AGAINST THE PARTIES RELEASED ABOVE BY SIGNING THIS RELEASE. EMPLOYEE IS SIGNING THIS AGREEMENT KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE BENEFITS DESCRIBED IN SECTION 1 OF THE SEPARATION AGREEMENT. Dated: Employee Xxxxx X. Xxxxxxx Dated: E*TRADE Financial Corporation By:

Appears in 1 contract

Samples: Separation Agreement (E Trade Financial Corp)

Older Workers Benefit Protection Act. Employee acknowledges that it This Agreement is subject to the mutual intent terms of the parties that the full release contained in this Agreement fully complies with the Older Workers Benefit Protection ActAct of 1990 (the "OWBPA"). AccordinglyThe OWBPA provides that an individual cannot waive a right or claim under the Age Discrimination in Employment Act ("ADEA") unless the waiver is knowing and voluntary. Pursuant to the terms of the OWBPA, Xxxxx acknowledges and agrees that he has executed this Agreement requiresvoluntarily, and Employee with full knowledge of its consequences. In addition, Xxxxx hereby acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds has been written in a manner that is calculated to be understood, and is understood, by Xxxxx; (b) the nature release provisions of this Agreement apply to rights and scope claims that Xxxxx may have under the ADEA, including the right to file a lawsuit against the Company for age discrimination; (c) the release provisions of this Agreement do not apply to any consideration to which Employee would otherwise rights or claims that Xxxxx may have been legally entitled to receive absent Employee’s execution of under the ADEA that arise after the date Xxxxx executes this Agreement; (bd) execution the Company does not have a preexisting duty to pay all amounts of the Separation Amount identified in this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination in Employment Act of 1967, is Employee’s knowing and voluntary actAgreement; (ce) Employee is hereby Xxxxx has been advised in writing to consult with an attorney prior to executing this Agreement; (df) Employee has forty-five (45) calendar Xxxxx shall have a period of 21 days within in which to consider this Agreement and Employee’s signature on the terms of this Agreement prior to the expiration its execution; and (g) Xxxxx shall have a period of seven days after execution of this forty-five (45) day period (should Employee choose not Agreement in which to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs revoke this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 17), and . Xxxxx further understands that this Agreement does shall not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement.

Appears in 1 contract

Samples: Separation and Release Agreement (Interdent Inc)

Older Workers Benefit Protection Act. Employee acknowledges that it is the mutual intent of the parties that the full release contained in this Agreement fully complies with the Older Workers Benefit Protection Act. Accordingly, this Agreement requires, and Employee acknowledges and agrees that: (a) the consideration provided to Employee under this Agreement exceeds the nature and scope of any consideration to which Employee would otherwise have been legally entitled to receive absent Employee’s execution of this Agreement; (b) execution of this Agreement and the full release herein, which specifically includes a waiver of any claims under the Age Discrimination in Employment Act of 1967, is Employee’s knowing and voluntary act; (c) Employee is hereby advised to consult with an attorney prior to executing this Agreement; (d) Employee has fortytwenty-five one (4521) calendar days within which to consider this Agreement and Employee’s signature on this Agreement prior to the expiration of this fortytwenty-five one (4521) day period (should Employee choose not to take the full period offered) constitutes an irrevocable waiver of said period or its remainder; (e) in the event Employee signs this Agreement, Employee has another seven (7) calendar days to revoke it by delivering a written notice of revocation to the individual addressee identified in the Notice provision below (Section 1715), and this Agreement does not become effective until the expiration of this seven-day period; (f) Employee has read and fully understands the terms of this Agreement; and (g) nothing contained in this Agreement purports to release any of Employee’s rights or claims under the Age Discrimination in Employment Act that may arise from acts occurring after the date of the execution of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Carolina Financial Corp)

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