Common use of Second Release Clause in Contracts

Second Release. In exchange for signing the Release a second time and subject to compliance with the restrictive covenants in the Employment Agreement, including but not limited to, the non-disparagement provisions, Employee will be eligible to receive the severance payments and benefits set forth in Sections 6.1(b), (d), (e), and (f) of the Employment Agreement (the “Severance Benefits”). For the avoidance of doubt, after the Termination Date, Employee will be eligible to performance-vest only in (i) the portion of the Employee’s 2021-2025 performance award which vests subject to the Company’s adjusted-EBITDA through the end of 2025, (ii) the portion of the Employee’s 2022-2024 performance award which vests subject to the Company’s adjusted-EBITDA through the end of 2024, and (iii) the portion of the Employee’s 2023-2025 performance award which vests subject to the Company’s adjusted-EBITDA through the end of 2025, in each case subject to actual Company performance. Following the Termination Date, Employee will be eligible for outplacement services available to all senior executives of the Company.

Second Release. In exchange for signing the Release a second time and subject to compliance with the restrictive covenants in the Employment Agreement, including but not limited to, the non-disparagement provisions, Employee will be eligible to receive the severance payments and benefits set forth in Sections 6.1(b), (d), (e), and (f) of the Employment Agreement (the “Severance Benefits”). For the avoidance of doubt, after the Termination Date, Employee will be eligible to performance-vest only in (i) the portion of the Employee’s 2021-2025 performance award which vests subject to the Company’s adjusted-EBITDA through the end of 2025, 2023 and (ii) the portion of the Employee’s 20222020-2024 2022 performance award which vests subject to the Company’s adjusted-EBITDA through the end of 2024, and (iii) the portion of the Employee’s 2023-2025 performance award which vests subject to the Company’s adjusted-EBITDA through the end of 2025award, in each case subject to actual Company performance. Following the Termination Date, Employee will be eligible for outplacement services available to all senior executives of the Company.