Common use of Revocation Period Clause in Contracts

Revocation Period. Employee, the Bank and the Company acknowledge and agree that (i) Employee has twenty-one (21) days from Employee’s receipt of this Release Agreement in which to consider its terms (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than Employee’s Termination Date), (ii) Employee will have seven (7) days after Employee’s execution of this Release Agreement in which to revoke this Release Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act), in which event a written notice of revocation must be received by the Chief Executive Officer of the Bank before the expiration of this seven (7) day revocation period, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b), as applicable of the Agreement will not be made, the Release Agreement will become null and void, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving it, (b) Employee returns the executed Release Agreement to the Bank no later than five (5) working days after executing it, (c) the Release Agreement by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 of the Employment Agreement) to the Bank no later than five (5) days after the Termination Date.

Appears in 7 contracts

Sources: Employment Agreement (Heritage Commerce Corp), Employment Agreement (Heritage Commerce Corp), Employment Agreement (Heritage Commerce Corp)

Revocation Period. Employee, the Bank and the Company acknowledge and agree that (i) Employee has twenty-one (21) days from Employee’s receipt of this Release Agreement in which to consider its terms (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than Employee’s Termination Date), (ii) Employee will have seven (7) days after Employee’s execution of this Release Agreement in which to revoke this Release Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act), in which event a written notice of revocation must be received by the Chief Executive Officer of the Bank Company before the expiration of this seven (7) day revocation period, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b), as applicable of the Agreement will not be made, the Release Agreement will become null and void, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving it, (b) Employee returns the executed Release Agreement to the Bank Company no later than five (5) working days after executing it, (c) the Release Agreement by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 of the Employment Agreement) to the Bank Company no later than five (5) days after the Termination Date.

Appears in 3 contracts

Sources: Employment Agreement (Heritage Commerce Corp), Employment Agreement (Heritage Commerce Corp), Employment Agreement (Heritage Commerce Corp)

Revocation Period. Employee acknowledges that Employee is knowingly and voluntarily waiving and releasing any rights Employee may have under the ADEA and OWBPA. Employee also acknowledges that the consideration given for the waiver and release set forth in paragraphs 3 and 4 of this Agreement is in addition to anything of value to which Employee was already entitled. Employee further acknowledges that Employee has been advised by this writing, as required by the OWBPA Act, that: (1) Employee’s waiver and release does not apply to any rights or claims that may arise after the effective date of this Agreement, the Bank and the Company acknowledge and agree or that are otherwise prohibited from release by law; (i2) Employee should consult with an attorney prior to executing this Agreement; (3) Employee has twentyup to forty-one five (2145) days from Employee’s receipt of this Release Agreement in which the Separation Date to consider its terms this Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than at the Employee’s Termination Datediscretion), ; (ii4) Employee will have has seven (7) days after following execution of this Agreement to revoke the Agreement; and (5) this Agreement shall not be effective until the date upon which the revocation period has expired. Employee shall provide a fully executed copy of this Agreement to the Company, attention ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, the date of execution of which by Employee shall begin the seven-day revocation period. Employee may revoke this Release only by giving ▇▇. ▇▇▇▇▇▇▇, formal, written notice of the revocation of this Agreement, which should be addressed to Skullcandy, Attn: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, and which should be received by ▇▇. ▇▇▇▇▇▇▇, by the close of business on the seventh (7th) day following Employee’s execution of this Release Agreement in which to revoke this Release Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act), in which event a written notice of revocation must be received by the Chief Executive Officer of the Bank before the expiration of this seven (7) day revocation period, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b), as applicable of the Agreement will not be made, the Release Agreement will become null and void, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving it, (b) Employee returns the executed Release Agreement to the Bank no later than five (5) working days after executing it, (c) the Release Agreement by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 of the Employment Agreement) to the Bank no later than five (5) days after the Termination Date.

Appears in 3 contracts

Sources: Separation Agreement (Skullcandy, Inc.), Separation Agreement (Skullcandy, Inc.), Separation Agreement (Skullcandy, Inc.)

Revocation Period. EmployeeIf (and only if) Employee is 40 years old or older at the time of this Agreement, the Bank following paragraph applies: Employee acknowledges that Employee is knowingly and voluntarily waiving and releasing any rights Employee may have under the Company acknowledge ADEA and agree OWBPA. Employee also acknowledges that the consideration given for the waiver and release set forth in paragraphs 3 and 4 of this Agreement is in addition to anything of value to which Employee was already entitled. Employee further acknowledges that Employee has been advised by this writing, as required by the OWBPA Act, that: (i1) Employee’s waiver and release does not apply to any rights or claims that may arise after the effective date of this Agreement, or that are otherwise prohibited from release by law; (2) Employee should consult with an attorney prior to executing this Agreement; (3) Employee has twentyup to forty-one five (2145) days from Employee’s receipt of this Release Agreement in which the Separation Date to consider its terms this Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than at the Employee’s Termination Datediscretion), ; (ii4) Employee will have has seven (7) days after following execution of this Agreement to revoke the Agreement; (5) Employee has been provided with the statistical information (attached hereto as Appendix A) required by the OWBPA; and (6) this Agreement shall not be effective until the date upon which the revocation period has expired. Employee shall provide a fully executed copy of this Agreement to the Company, attention ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, the date of execution of which by Employee shall begin the seven-day revocation period. Employee may revoke this Release only by giving ▇▇. ▇▇▇▇▇▇▇, formal, written notice of the revocation of this Agreement, which should be addressed to Skullcandy, Attn: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, and which should be received by ▇▇. ▇▇▇▇▇▇▇, by the close of business on the seventh (7th) day following Employee’s execution of this Release Agreement in which to revoke this Release Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act), in which event a written notice of revocation must be received by the Chief Executive Officer of the Bank before the expiration of this seven (7) day revocation period, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b), as applicable of the Agreement will not be made, the Release Agreement will become null and void, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving it, (b) Employee returns the executed Release Agreement to the Bank no later than five (5) working days after executing it, (c) the Release Agreement by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 of the Employment Agreement) to the Bank no later than five (5) days after the Termination Date.

Appears in 2 contracts

Sources: Separation Agreement (Skullcandy, Inc.), Separation Agreement (Skullcandy, Inc.)

Revocation Period. Employee, the Bank and the Company acknowledge and agree that (i) Employee has twenty-one (21) days from Employee’s receipt of this Release Agreement in which to consider its terms (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than Employee’s Termination Date), (ii) Employee will have seven (7) days after Employee’s execution of this Release Agreement in which to revoke this Release Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act), in which event a written notice of revocation must be received by the Chief Executive Officer of the Bank before the expiration of this seven (7) day revocation period, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b), as applicable of the Agreement will not be made, the Release Agreement will become null and void, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving it, (b) Employee returns the executed Release Agreement to the Bank no later than five (5) working days after executing it, (c) the Release Agreement by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 of the Employment Agreement) to the Bank no later than five (5) days after the Termination Date.. BN 70487409v1 ​

Appears in 1 contract

Sources: Employment Agreement (Heritage Commerce Corp)

Revocation Period. Employee, the Bank and the Company acknowledge and agree that (i) Employee has twenty-one (21) days from Employee’s receipt For a period of this Release Agreement in which to consider its terms (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than Employee’s Termination Date), (ii) Employee will have seven (7) calendar days after following Employee’s execution of this Release Agreement in which to Agreement, Employee may revoke this Release Agreement (including, without limitation, Employee’s release and waiver by delivery of any and all claims under the Age Discrimination in Employment Act), in which event a written notice of revocation must be received by revoking same within that seven (7)-day period to the Chief Executive Officer office of the Bank before the expiration of this General Counsel, EQT Corporation, 6▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇, ▇▇▇▇▇. This Agreement shall not be effective or enforceable until that seven (7) day 7)-day revocation period, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee(i.e., on the eighth (8th) calendar day after Employee signs and delivers to EQT this Agreement) (the “Effective Date”). Employee and Notwithstanding the Bank and foregoing, EQT’s obligation to make any of the Company further acknowledge and agree that payments, or provide any of the payments and benefits specified benefits, described in Section 6.2(a) 4 of this Agreement is strictly contingent upon Employee’s re-execution and non-revocation of this Agreement on the day following the Separation Date or Section 6.2(b), as applicable of the Agreement will not be made, the Release Agreement will become null and void, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving itthereafter. The date of Employee’s re-execution of this Agreement is referred to herein as the “Re-Execution Date.” By re-executing this Agreement, (b) Employee returns the executed Release Agreement advances to the Bank no later than five (5) working days after executing itRe-Execution Date Employee’s general waiver and release of claims against the Releasees and other covenants, (c) including the Release Agreement by its terms becomes effective and enforceable after re-affirmation of the covenants contained in the Non-Compete Agreement. Employee has seven (7) day revocation period specified calendar days from the Re-Execution Date to revoke Employee’s re-execution of this Agreement in accordance with this Section 11. In the preceding paragraph has expired without event of such revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 the date of the Employment Agreement) releases and covenants set forth in this Agreement shall not be advanced to the Bank no later than five Separation Date, but shall remain effective up to and including the date upon which Employee originally signs this Agreement. Provided that Employee does not revoke Employee’s re-execution of this Agreement within such seven (57)-day period, the “Second Release Effective Date” shall occur on the eighth (8th) days calendar day after the Termination Re-Execution Date. Regardless of whether Employee signs or re-executes this Agreement, to the extent Employee participated in EQT’s group health plans, coverage will cease on the day following the Separation Date. At that time, if Employee participated in EQT’s group health plans, Employee will be eligible to continue Employee’s group health plan benefits for Employee and Employee’s eligible dependents, subject to the terms and conditions of EQT’s benefit plans, federal law, including COBRA, and, as applicable, state insurance laws.

Appears in 1 contract

Sources: Transition Agreement and General Release (EQT Corp)

Revocation Period. Employee, the Bank Employee understands and the Company acknowledge and agree acknowledges that (i) Employee has twenty-one (21) days from Employee’s receipt of this Release Agreement in which to consider its terms (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than Employee’s Termination Date), (ii) Employee will have seven (7) calendar days after following Employee’s execution of this the Post-Termination Release Agreement in which to revoke this Release Agreement (including, without limitation, Employee’s release acceptance of this Agreement and waiver Release (the “Revocation Period”) and that this Agreement and Release shall not become effective or enforceable until the Revocation Period has expired. Revocation of any this Agreement and all claims under the Age Discrimination in Employment Act), in which event Release must be made by a written notice of revocation must delivered by hand or sent by overnight mail or certified mail/return receipt requested within the Revocation Period to ▇▇▇▇▇▇ ▇▇▇▇▇▇, Vice President, Ryder System, Inc., Law Department 4th Floor, ▇▇▇▇▇ ▇.▇. ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇. In addition, Employee understands and acknowledges that no severance payments or incentive compensation will be received by paid under the Chief Executive Officer of the Bank before the expiration terms of this seven (7) day revocation periodAgreement and Release until the Effective Date, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by except for Employee’s vacation entitlement, if any. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b)EMPLOYEE CERTIFIES THAT EMPLOYEE HAS FULLY READ, as applicable of the Agreement will not be madeHAS RECEIVED AN EXPLANATION OF, the Release Agreement will become null and voidHAS NEGOTIATED AND COMPLETELY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT AND RELEASE, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twentyTHAT EMPLOYEE HAS BEEN ADVISED BY THE COMPANY TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS AGREEMENT AND RELEASE AND THE POST-one TERMINATION RELEASE, THAT EMPLOYEE HAS BEEN GIVEN A REASONABLE PERIOD OF AT LEAST TWENTY-ONE (21) days after receiving itCALENDAR DAYS TO REVIEW AND CONSIDER THE PROVISIONS OF THIS AGREEMENT AND RELEASE, AND THAT EMPLOYEE IS SIGNING FREELY AND VOLUNTARILY, WITHOUT DURESS, COERCION OR UNDUE INFLUENCE. WITNESSES: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ (b“Employee”) Employee returns the executed Release Agreement to the Bank no later than five /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ 8/23/10 /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ 8/23/10 Signature Date Signature Date ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Print Name SAP# Address /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇ 8/23/10 Signature Date ▇▇▇▇▇▇ ▇▇▇▇▇▇ Print Name Address ATTEST: RYDER TRUCK RENTAL, INC. (5“Company”) working days after executing it/s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇ 8/23/10 By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ 8/23/10 Signature Date Signature Date ▇▇▇ ▇▇▇▇▇▇▇, (c) the Release Agreement by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 of the Employment Agreement) to the Bank no later than five (5) days after the Termination Date.Chief Legal Officer

Appears in 1 contract

Sources: Separation Agreement and Release (Ryder System Inc)

Revocation Period. Employee, the Bank and the Company acknowledge and agree that (i) Employee has twenty-one (21) days from Employee’s receipt of this Release Agreement in which to consider its terms (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than Employee’s Termination Date), (ii) Employee will The Executive shall have seven (7) days after Employee’s execution of from the date he executes this Release Agreement in which to revoke this Release Agreement (including, without limitation, Employee’s release and his waiver of any and all ADEA claims under by providing written notice of such revocation to the Age Discrimination in Employment Act), in which event Company. Revocation must be made by delivering a written notice of revocation must be received to the Company, no later than the close of business on the seventh day after the Executive has signed this Release. The Executive acknowledges that revocation of this Agreement does not reinstate him as an employee of the Company. This Release shall become effective on the eighth (8th) day after the Executive executes it, provided it has not been properly revoked by the Chief Executive Officer in writing before such date. PLEASE READ THIS RELEASE CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. _________________________________ Corning ▇. ▇▇▇▇▇▇▇ Date: ____________________________ Reference is made to the Separation Agreement and Release of Claims (the “Agreement”) entered into between Corning ▇. ▇▇▇▇▇▇▇ (the “Executive”) and Air Products and Chemicals, Inc. (the “Company”). Capitalized terms used but not defined in this Release of Claims (this “Release”) shall have the meanings set forth in the Agreement. 1. In consideration of the Bank before benefits received pursuant to the expiration of this seven Agreement, the Company and its affiliated entities, predecessors, successors and assigns (7) day revocation periodcollectively, “Releasers”), does hereby release, waive, and forever discharge the Executive, Executive’s spouse, heirs, administrators, children, representatives, executors, successors, assigns, if any (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b), as applicable of the Agreement will not be madecollectively, the Release Agreement will become null “Releasees”) from, and voiddoes fully waive any obligations of Releasees to Releasers for, unless any and until each all liability, actions, charges, causes of the following four conditions are satisfied: action, demands, damages, or claims for relief, remuneration, sums of money, accounts or expenses (including attorneys’ fees and costs) of any kind whatsoever, whether known or unknown or contingent or absolute, which heretofore has been or which hereafter may be suffered or sustained, directly or indirectly, by Releasers in consequence of, arising out of, or in any way relating to: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving it, Executive’s employment with the Company or any of its subsidiaries or affiliates; and (b) Employee returns the executed Release Agreement any other events occurring on or prior to the Bank no later than five date the Company executes this Release. Notwithstanding anything herein to the contrary, Releasers do not release, and this release and waiver does not apply to and shall not be construed as to apply to: (5a) working days any claim for breach of the duty of loyalty or for fraud, in either case actually and deliberately committed by the Executive; (b) any claim or right arising after executing it, the date the Company signs this Release; and (c) the Release Agreement by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (any claim or right pursuant to Section 12 of the Employment Agreement) to the Bank no later than five (5) days after the Termination Date.

Appears in 1 contract

Sources: Separation Agreement (Air Products & Chemicals Inc /De/)

Revocation Period. Employee acknowledges that Employee is knowingly and voluntarily waiving and releasing any rights Employee may have under the ADEA and OWBPA. Employee also acknowledges that the consideration given for the waiver and release set forth in Section 3 of this Agreement is in addition to anything of value to which Employee was already entitled. Employee further acknowledges that Employee has been advised by this writing, as required by the OWBPA Act, that: (1) Employee’s waiver and release does not apply to any rights or claims that may arise after the effective date of this Agreement, the Bank and the Company acknowledge and agree or that are otherwise prohibited from release by law; (i2) Employee should consult with an attorney prior to executing this Agreement; (3) Employee has twentyup to forty-one five (2145) days from Employee’s receipt of this Release Agreement in which the Separation Date to consider its terms this Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act) before executing it, although Employee may execute this Release Agreement earlier if Employee chooses (but not earlier than at the Employee’s Termination Datediscretion), ; (ii4) Employee will have has seven (7) days after following execution of this Agreement to revoke the Agreement; and (5) this Agreement shall not be effective until the date upon which the revocation period has expired. Employee shall provide a fully executed copy of this Agreement to the Company, attention R▇▇▇ ▇▇▇▇▇▇▇▇▇, the date of execution of which by Employee shall begin the seven-day revocation period. Employee may revoke this Agreement only by giving M▇. ▇▇▇▇▇▇▇▇▇, formal, written notice of the revocation of this Agreement, which should be addressed to Inspyr Therapeutics, Inc. Attn: R▇▇▇ ▇▇▇▇▇▇▇▇▇, 3▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, and which should be received by M▇. ▇▇▇▇▇▇▇▇▇, by the close of business on the seventh (7th) day following Employee’s execution of this Release Agreement in which to revoke this Release Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act), in which event a written notice of revocation must be received by the Chief Executive Officer of the Bank before the expiration of this seven (7) day revocation period, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b), as applicable of the Agreement will not be made, the Release Agreement will become null and void, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving it, (b) Employee returns the executed Release Agreement to the Bank no later than five (5) working days after executing it, (c) the Release Agreement by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 of the Employment Agreement) to the Bank no later than five (5) days after the Termination Date.

Appears in 1 contract

Sources: Separation Agreement (Inspyr Therapeutics, Inc.)

Revocation Period. EmployeeOnce this Agreement is executed by Executive, Executive shall have a seven (7) calendar day period during which Executive may revoke his decision to execute the Bank Agreement (the “7-day Revocation Period”). A revocation made pursuant to this Section 12 shall be effective only if it is in writing and is delivered to M▇. ▇▇▇▇▇ J. ▇▇▇▇▇▇▇▇, President, N▇▇▇▇▇▇ Financial Corp., at the Company acknowledge following address: 7▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, in a manner reasonably calculated to provide Executive with proof of receipt and agree delivered at or prior to 5:00 p.m. on the seventh (7th) calendar day, or the first business day thereafter if that (i) Employee day is a Saturday, Sunday, or bank Holiday, following execution of this Agreement by Executive. This Agreement shall not become effective or enforceable until the revocation period has expired. This Agreement was drafted so that it should be readily understood by Executive. By signing this Agreement, Executive certifies that he understands all the provisions contained in the Agreement and that this Agreement complies with the requirements of the Older Workers Benefit Protection Act. Executive agrees that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original twenty-one (21) days from Employeecalendar day consideration. Having elected to execute this Agreement, to fulfill the promises and to receive the consideration set forth in Section 1 above, Executive freely and knowingly, after due consideration, enters into this Agreement and signs the same as Executive’s receipt of free and independent act intending to waive, settle and release all claims Executive has or might have against the Bank, N▇▇▇▇▇▇, NPB and NP Bank. Please carefully read this Release Agreement in which full. It contains a covenant not to consider its terms (s▇▇ and a general release of all known and unknown claims arising out of your employment with the Company, including, without limitationbut not limited to, Employee’s the release and waiver of any and all claims under Title VII of the 1964 Civil Rights Act, the Americans With Disabilities Act, the Age Discrimination in Employment Act as amended by the Older Workers Benefit Protection Act) before executing it, although Employee may execute and/or any other federal or state fair employment or anti discrimination statutes or regulations. Statement by Executive who is signing below. By signing this Release Agreement earlier if Employee chooses (but not earlier than Employee’s Termination Date)Agreement, (ii) Employee will I acknowledge that I have seven (7) days after Employee’s execution carefully read and fully understand the provisions of this Release Agreement in which and have had sufficient time and opportunity (over a period of 21 days) to revoke consult with my personal tax, financial and legal advisors prior to executing this Release Agreement (including, without limitation, Employee’s release and waiver of any and all claims under the Age Discrimination in Employment Act), in which event a written notice of revocation must I intend to be received by the Chief Executive Officer of the Bank before the expiration of this seven (7) day revocation period, and (iii) this Release Agreement will not become effective and enforceable until this seven (7) day period has expired without revocation by Employee. Employee and the Bank and the Company further acknowledge and agree that the payments and benefits specified in Section 6.2(a) or Section 6.2(b), as applicable of the Agreement will not be made, the Release Agreement will become null and void, unless and until each of the following four conditions are satisfied: (a) Employee executes the Release Agreement within twenty-one (21) days after receiving it, (b) Employee returns the executed Release Agreement to the Bank no later than five (5) working days after executing it, (c) the Release Agreement legally bound by its terms becomes effective and enforceable after the seven (7) day revocation period specified in the preceding paragraph has expired without revocation by Employee, and (d) Employee returns all materials (pursuant to Section 12 of the Employment Agreement) to the Bank no later than five (5) days after the Termination Dateterms.

Appears in 1 contract

Sources: Employment Agreement (North Penn Bancorp Inc)