Common use of Severance Conditioned on Release Clause in Contracts

Severance Conditioned on Release. Employee’s right to receive severance and premiums for COBRA continuation coverage under the Company’s medical, dental and vision insurance plans as provided in Sections 6(b) through 6(e) will (i) be contingent upon Employee’s execution of a release of all claims against the Company and its Affiliates (other than the right to receive severance and premiums for COBRA continuation coverage under this Section 6) in form and substance and under procedures reasonably believed by the Company to be adequate to effectively waive all such claims under applicable laws, such executed release to be delivered to the Company within 45 days after the Employee’s termination date (such period, together with any legally prescribed revocation period, the “Release Review Period”) and (ii) automatically terminate upon any breach by Employee of Section 7 or 8 of this Agreement. The Company will provide the form of such release to Employee at the time of any termination as a result of which severance is payable. If the release does not become fully and finally effective until legally prescribed periods have elapsed, notwithstanding any other provision of this Agreement, no severance shall be payable until all such periods have elapsed and the release has become fully and finally effective.

Severance Conditioned on Release. Employee’s right to receive severance and premiums for COBRA continuation coverage under the Company’s medical, dental and vision insurance plans as provided in Sections 6(b) through 6(e) will (i) be contingent upon Employee’s execution of a release of all claims against the Company and its Affiliates (other than the right to receive severance and premiums for COBRA continuation coverage under this Section 6) in form and substance and under procedures reasonably believed by the Company to be adequate to effectively waive all such claims under applicable laws, such executed release to be delivered to the Company within 45 days after the Employee’s termination date (such period, together with any legally prescribed revocation period, the “Release Review Period”) and (ii) automatically terminate upon any breach by Employee of Section 7 or 8 of this Agreement. The Company will provide the form of such release to Employee at the time of any termination as a result of which severance is payable. If the release does not become fully and finally effective until legally prescribed periods have elapsed, notwithstanding any other provision of this Agreement, no severance shall be payable until all such periods have elapsed and the release has become fully and finally effective.no