Common use of Severance Conditioned on Release of Claims Clause in Contracts

Severance Conditioned on Release of Claims. Unless it otherwise elects to waive any such condition precedent, Company's obligation to provide Executive with the Severance Payment set forth in Section 1.6.2 is contingent upon Executive's and Company's execution of that certain Form of Release, a copy of which is attached hereto and marked as Exhibit “C” (the “Release”). If Executive fails to sign the Release within twenty-one (21) days of receipt of notice of termination pursuant to Section 1.5.1.5, or subsequently rescinds the Release, Executive shall not be entitled to receive Severance Payments pursuant to Section 1.6.2 and Section 1.6.3.