Separation Conditions. The Company’s obligation to provide the separation payments set forth in Sections 7.4 and 7.5 above shall be conditioned upon the following (the “Separation Conditions”): (i) within sixty (60) days following termination of the Executive’s employment, the Executive’s execution (and the expiration of any applicable revocation period without revocation by the Executive) of a separation agreement substantially similar to the form attached hereto as Exhibit A prepared by the Company, which form will include a limited release from liability so that the Executive will release the Company from any and all liability and claims arising under this Agreement or arising out of the Executive’s employment by the Company; provided, however, that the Executive shall not be required to release any claim the Executive may have against the Company in his capacity as a stockholder of the Company or claims for indemnification pursuant to any indemnification agreement between the Executive and the Company or otherwise existing pursuant to the Company’s organizational documents or applicable state law; and (ii) the Executive’s material compliance with the restrictive covenants (as set forth in Section 10) and all post-termination obligations, including, but not limited to, the obligations contained in this Agreement.
Appears in 3 contracts
Sources: Employment Agreement (Trade Street Residential, Inc.), Employment Agreement (Trade Street Residential, Inc.), Employment Agreement (Trade Street Residential, Inc.)