Release Requirement means the requirement that an Eligible Executive execute and deliver to the Company a general release of claims, in a form acceptable to the Company, on or prior to the date that is 21 days following the date upon which the Company delivers the release to an Eligible Executive (which shall occur no later than seven days following the Date of Termination) or, in the event that such termination of employment is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967, as amended), the date that is 45 days following such delivery date. Notwithstanding the foregoing or any other provision in the Plan to the contrary, the Release Requirement shall not be considered satisfied if the release described in the preceding sentence is revoked by the Eligible Executive within any time provided by the Company for such revocation.
Release Requirement the Grantee shall not be entitled to receive any benefit described in Section 3(b) unless, in each case, the Grantee (or the Grantee's legal representative) has executed and delivered to the Company a General Release, which General Release shall be in full force and effect (and no longer subject to revocation) within sixty (60) calendar days after the Grantee's termination of employment. To the extent that any benefit subject to the Release Requirement is deferred compensation under Section 409A that is not otherwise exempt from the application of Section 409A, and if the sixty (60) calendar day period referenced in the preceding sentence spans two calendar years, then, solely to the extent necessary to avoid the incurrence of adverse personal tax consequences under Section 409A, the payment of such amount will not occur until the second calendar year.
Release Requirement means the Participant’s provision to the Company following termination as a Service Provider of an executed waiver and general release of claims in a form reasonably acceptable to the Company (the “Release”) no later than 45 days following such termination, and such Release becoming effective in accordance with its terms no later than 54 days following such termination.
Examples of Release Requirement in a sentence
In the event a Qualifying Termination or Retirement is followed by a Change in Control Transaction that precedes the Performance & Service Period End Date, then, subject to the Release Requirement, the number of Performance Units that will vest upon the Change in Control Transaction will be determined on a pro-rata basis as calculated in Section 7(a) above, except that the Change in Control Transaction Determined Units (as defined in Section 8(a)) will be substituted for the Default Number of Units.
If you are a taxpayer in the United States, to the extent the Release Requirement is applicable, the Release shall be delivered to you (or your estate’s) within fourteen (14) business days following the termination date, and you shall have seven (7) days thereafter (or up to 45 days, if necessary to comply with applicable law) to execute and deliver the Release to the Company (the “Release Period”).
You understand that if the Release Requirement is not satisfied, you will not be eligible to receive the Severance Benefits.
You understand that if the Release Requirement is not satisfied, you will not be eligible to receive the Severance Benefit.
More Definitions of Release Requirement
Release Requirement means the requirement that, as a condition of receiving the payments set forth in Section 7 following a Qualifying Termination, (i) you sign a separation agreement in the form proposed by the Company that will include, without limitation, a release of legal claims and a non-disparagement obligation and will provide that all payments of Severance Pay shall immediately cease if you breach any of your Continuing Obligations, and (ii) the separation agreement becomes irrevocable within 60 days after the date of termination or such short period as set forth in the separation agreement.
Release Requirement means the execution, delivery, and nonrevocation of a release of claims by Participant, Participant’s power of attorney or the Participant’s estate, as applicable, in favor of the Company and its Subsidiaries and its and their respective Affiliates on such terms and conditions and subject to such provisions as are reasonably determined by the Company, and any revocation period applicable to such release must have expired before the earlier of the fifty-ninth (59th) day after the date of Termination of Employment.
Release Requirement means that the Grantee timely executes and delivers to the Company a release of claims in a form acceptable to the Company (a “Release”) and the Grantee does not revoke such Release within any revocation period provided by applicable law. In any circumstances where the Release Requirement is applicable pursuant to this Agreement, the Company shall provide the final form of Release to the Grantee not later than seven (7) days following the Grantee’s Severance Date, and the Grantee shall be required to execute and return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of time is required to make the Release maximally enforceable under applicable law) after the Company provides the form of Release to the Grantee.
Release Requirement is defined in Section 7.2(f).
Release Requirement means that the NOI for the immediately preceding twelve (12) calendar months exceeds (A) until the first Adjustment Date, the amount of Eight Million Three Hundred Thirty-Eight Thousand Six Hundred Thirteen Dollars ($8,338,613.00), or (B) following the first Adjustment Date, an amount equal to one hundred forty percent (140%) of the then applicable Annual Base Rent.
Release Requirement means the requirement that an Eligible Executive execute and deliver to the Partnership a general release of claims, in a form acceptable to the Partnership (the “Release”), on or prior to the date that is twenty-one (21) days following the date upon which the Partnership delivers the Release to an Eligible Executive (which shall occur no later than seven (7) days following the Date of Termination) or, in the event that such termination of employment is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is forty-five
Release Requirement is defined in Section 6.26 hereof.