Common use of Subsequent Release Clause in Contracts

Subsequent Release. The Company’s obligations under Section 2 of this Agreement are strictly contingent upon Executive’s execution and non-revocation of a re-affirmation of the general waiver and release of all Claims against the Released Parties and the other covenants set forth in Section 5 of this Agreement (the “Subsequent Release”) within twenty-one (21) days following the Separation Date. The date of Executive’s execution of the Subsequent Release is referred to herein as the “Re-Execution Date.” By executing the Subsequent Release, Executive advances to the Re-Execution Date Executive’s general waiver and release of all Claims against the Released Parties and the other covenants set forth in Section 5 of this Agreement. Executive has seven (7) calendar days from the Re-Execution Date to revoke his re-execution of the Agreement. Such revocation must be in writing and must be e-mailed to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇. Notice of such revocation must be received within the seven (7) calendar days referenced above. In the event of such revocation by Executive, the date of the releases and covenants set forth in Section 5 of this Agreement shall not be advanced, but shall remain effective up to and including the date upon which Executive originally signs this Agreement. If the Subsequent Release does not become effective within thirty (30) days of the Separation Date, the Company shall not be required to provide any of the payments or benefits set forth in Section 2 of this Agreement.