Common use of Review and Revocation Rights Clause in Contracts

Review and Revocation Rights. Executive hereby is advised of the following: (a) Executive has the right to consult with an attorney before signing this Release and is encouraged by the Company to do so; (b) Executive has twenty-one (21) days from his receipt of this Release to consider it, although Executive may sign and return the Release at any earlier time, in which case Executive waives all rights to the balance of this twenty-one (21) day review period; and (c) Executive has seven (7) days after signing this Release to revoke this Release, and this Release will not be effective until that revocation period has expired without revocation. Executive agrees that in order to exercise his right to revoke this Release within such seven (7) day period, he must do so in a signed writing delivered to the Board of Directors of the Company (“Board”) before the close of business on the seventh calendar day after he signs this Release. (d) Nothing in this Release prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs for doing so, unless specifically authorized by federal law.

Appears in 2 contracts

Sources: Employment Agreement (Patheon Holdings Cooperatief U.A.), Employment Agreement (Patheon Inc)

Review and Revocation Rights. Executive hereby is advised of the following: (a) Executive has the right to consult with an attorney before signing this Release and is encouraged by the Company to do so; (b) Executive has twenty-one (21) days from his receipt of this Release to consider it, although Executive may sign and return the Release at any earlier time, in which case Executive waives all rights to the balance of this twenty-one (21) day review period; and (c) Executive has seven (7) days after signing this Release to revoke this Release, and this Release will not be effective until that revocation period has expired without revocation. Executive agrees that in order to exercise his right to revoke this Release within such seven (7) day period, he must do so in a signed writing delivered to the Company’s Board of Directors of the Company (“Board”) before the close of business on the seventh calendar day after he signs this Release. (d) Nothing in this Release prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs for doing so, unless specifically authorized by federal law.

Appears in 1 contract

Sources: Employment Agreement (Patheon Inc)