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Contract analysis / schedule-b-form-of-release.docx
schedule-b-form-of-release.docx
1010-00004 · 31 clauses
High · 4 Medium · 9 Standard · 1
ARTICLE 1 — GENERAL RELEASE OF CLAIMS
ARTICLE 1 — GENERAL RELEASE OF CLAIMS
Section 1.1 — Release by Executive. Medium
⚑ Forum / governing law
Section 1.1 — Release by Executive. The Executive, on behalf of the Executive and the Executive's heirs, executors, administrators, personal representatives, successors, and assigns (collectively, the "Executive Releasing Parties"), hereby voluntarily, knowingly, and willingly releases, waives, and forever discharges the Company and each of its Related Parties (as defined below) (collectively, the "Released Parties")
Section 1.2 — Specific Laws Included in Release. Medium
⚑ Liability cap to check against exposure
Section 1.2 — Specific Laws Included in Release. Without limiting the generality of Section 1.1, the claims released by the Executive pursuant to this Release include, but are not limited to, claims arising under or in connection with the following: (a) Federal Statutes: (i) Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §§ 2000e et seq.; (ii) the Americans with Disabilities Act of 1990, as amended,
Section 1.3 — Exclusions from Release. High
⚑ Penalty / liquidated damages
Section 1.3 — Exclusions from Release. Notwithstanding the breadth of the foregoing release, the following claims and rights are expressly excluded from this Release and are not waived or released hereunder: (a) Governmental Agency Filings. Claims that cannot be waived or released as a matter of applicable law, including, without limitation, the Executive's right to file a charge, complaint, or report with, or otherw
Section 1.4 — No Pending Claims.
Section 1.4 — No Pending Claims. The Executive hereby represents and warrants that, as of the date of execution of this Release: (a) the Executive has not filed or caused to be filed any complaint, charge, claim, grievance, or action against any Released Party in or with any court, tribunal, arbitral body, administrative agency, or other forum; (b) the Executive has not assigned, transferred, or conveyed to any third
ARTICLE 2 — ADEA / OWBPA SPECIFIC PROVISIONS
ARTICLE 2 — ADEA / OWBPA SPECIFIC PROVISIONS
Section 2.1 — Acknowledgment of ADEA Waiver.
Section 2.1 — Acknowledgment of ADEA Waiver. The Executive acknowledges and agrees that this Release includes a knowing and voluntary waiver and release of all rights and claims the Executive has or may have under the Age Discrimination in Employment Act of 1967, as amended (the "ADEA"), including, without limitation, all claims of age discrimination and retaliation. The Executive further acknowledges and agrees that
Section 2.2 — Twenty-One (21) Day Consideration Period.
Section 2.2 — Twenty-One (21) Day Consideration Period. The Executive has been given a period of twenty-one (21) calendar days from the date of receipt of this Release (the "Consideration Period") within which to consider whether to execute this Release. The Consideration Period shall begin on the date this Release is first delivered or made available to the Executive and shall expire at 11:59 p.m. Eastern Time on th
Section 2.3 — Seven (7) Day Revocation Period. Medium
⚑ Notice / time limit to track
Section 2.3 — Seven (7) Day Revocation Period. The Executive may revoke this Release at any time within seven (7) calendar days following the date of the Executive's execution hereof (the "Revocation Period"). Any revocation must be in writing and must be delivered to the Company at the following address (or such other address as the Company may designate in writing): [Insert Company Name] [Insert Company Address] At
Section 2.4 — Advice to Consult Attorney.
Section 2.4 — Advice to Consult Attorney. THE EXECUTIVE IS HEREBY ADVISED, IN WRITING, TO CONSULT WITH AN ATTORNEY OF THE EXECUTIVE'S OWN CHOOSING PRIOR TO EXECUTING THIS RELEASE. The Executive acknowledges that the Executive has been so advised, has had the opportunity to consult with an attorney, and has either consulted with an attorney or voluntarily elected not to do so. This written advisement is provided in ac
ARTICLE 3 — SEVERANCE PAYMENTS CONDITIONED ON RELEASE
ARTICLE 3 — SEVERANCE PAYMENTS CONDITIONED ON RELEASE
Section 3.1 — Condition Precedent. High
⚑ Unilateral / for-convenience termination
Section 3.1 — Condition Precedent. The Company's obligation to provide the severance payments and benefits described in [Insert applicable Section(s) of the Employment Agreement] of the Employment Agreement (including, as applicable, any enhanced severance in connection with a termination without Cause, a resignation for Good Reason, or a qualifying termination following a Change in Control) is expressly conditioned
Section 3.2 — Timing of Severance Payments. Standard
⚑ Commercial term
Section 3.2 — Timing of Severance Payments. All severance payments shall commence or be made in accordance with the payment schedule set forth in the Employment Agreement, subject to the Effective Date of this Release. Notwithstanding the foregoing: (a) To the extent that any severance payment constitutes "nonqualified deferred compensation" within the meaning of Section 409A of the Internal Revenue Code of 1986, as
ARTICLE 4 — COVENANTS AND AGREEMENTS
ARTICLE 4 — COVENANTS AND AGREEMENTS
Section 4.1 — Return of Company Property. Medium
⚑ Forum / governing law
Section 4.1 — Return of Company Property. The Executive agrees that, on or before the Separation Date (or as soon as practicable thereafter if physical return on the Separation Date is not feasible), the Executive shall return to the Company all property of the Company and its affiliates in the Executive's possession, custody, or control, including, without limitation: (a) all laptop computers, desktop computers, tab
Section 4.2 — Cooperation. Medium
⚑ Forum / governing law
Section 4.2 — Cooperation. The Executive agrees to cooperate fully and in good faith with the Company and its legal counsel in connection with any pending or future internal investigation, audit, regulatory inquiry, administrative proceeding, litigation, arbitration, or other legal, regulatory, or governmental matter arising out of or relating to facts, events, transactions, or matters within the Executive's knowledg
Section 4.3 — Non-Disparagement. Medium
⚑ Forum / governing law
Section 4.3 — Non-Disparagement. (a) Executive's Obligations. The Executive agrees that, following the Separation Date, the Executive shall not, directly or indirectly, make, publish, or communicate to any person or entity, or direct any person or entity to make, publish, or communicate, any statement, comment, or remark, whether oral, written, or electronic, that disparages, defames, or reflects negatively upon the
Section 4.4 — Confidentiality of Separation Terms. Medium
⚑ Forum / governing law
Section 4.4 — Confidentiality of Separation Terms. The Executive agrees that the terms and conditions of this Release (including, without limitation, the nature and amount of the severance payments and benefits) shall be treated as confidential and shall not be disclosed by the Executive to any person or entity, except: (a) to the Executive's immediate family members residing in the same household; (b) to the Executi
Section 5.1 — Voluntary Execution.
Section 5.1 — Voluntary Execution. The Executive acknowledges and agrees that: (a) the Executive has carefully read this Release in its entirety and fully understands all of its terms, conditions, and consequences; (b) the Executive has been advised in writing to consult with an attorney of the Executive's own choosing prior to executing this Release, in accordance with the requirements of the OWBPA; (c) the Executiv
Section 5.2 — No Admission.
Section 5.2 — No Admission. This Release shall not in any way be construed as an admission by the Company, any Released Party, or the Executive of any wrongdoing, liability, violation of any statute, regulation, or legal duty, or any other improper conduct. The Company and each Released Party expressly deny any such wrongdoing, liability, violation, or improper conduct. This Release is entered into for the sole purpo
ARTICLE 6 — GENERAL PROVISIONS
ARTICLE 6 — GENERAL PROVISIONS
Section 6.1 — Governing Law. High
⚑ Non-compete / exclusivity restraint
Section 6.1 — Governing Law. This Release shall be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, without giving effect to any choice-of-law or conflict-of-laws rules or provisions (whether of the Commonwealth of Massachusetts or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the Commonwealth of Massachusetts. A
Section 6.2 — Severability. Medium
⚑ Liability cap to check against exposure
Section 6.2 — Severability. If any provision of this Release is held by a court of competent jurisdiction or an arbitrator to be invalid, void, unenforceable, or contrary to public policy, in whole or in part, such holding shall not affect the validity, enforceability, or legality of the remaining provisions of this Release, and the remaining provisions shall continue in full force and effect. In the event of any suc
Section 6.3 — Entire Agreement.
Section 6.3 — Entire Agreement. This Release, together with the Employment Agreement (including the Restrictive Covenants Agreement and any equity award agreements, stock option agreements, restricted stock unit agreements, or other compensatory arrangements that survive the termination of the Executive's employment by their express terms), constitutes the entire agreement and understanding between the Parties with r
Section 6.4 — Amendment. Medium
⚑ Liability cap to check against exposure
Section 6.4 — Amendment. This Release may not be amended, modified, supplemented, or waived except by a written instrument that is duly executed by both the Executive and an authorized representative of the Company. No failure or delay by either Party in exercising any right, power, or privilege under this Release shall operate as a waiver thereof, and no single or partial exercise of any such right, power, or privil
Section 6.5 — Counterparts.
Section 6.5 — Counterparts. This Release may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of this Release by facsimile, portable document format (.pdf), or other electronic transmission shall be as effective as delivery of a manually executed counterpart, and electronic sig
Section 6.6 — Section 409A Compliance. High
⚑ Penalty / liquidated damages
Section 6.6 — Section 409A Compliance. All payments and benefits provided under this Release and the Employment Agreement are intended to comply with, or be exempt from, the requirements of Section 409A of the Code and the Treasury Regulations and other guidance issued thereunder (collectively, "Section 409A"), and this Release shall be interpreted, construed, and administered in a manner consistent with such intent.
Section 6.7 — Protected Rights.
Section 6.7 — Protected Rights. (a) Government Agency Communications. Nothing in this Release shall be construed to prohibit, prevent, restrict, or otherwise limit the Executive's right to: (i) file a charge, complaint, or report with the SEC, EEOC, MCAD, NLRB, OSHA, or any other Government Agency; (ii) participate in, cooperate with, or provide information to any investigation, inquiry, or proceeding conducted by an
1. Decisional Unit. A description of the class, unit, or group of individuals covered by
1. Decisional Unit. A description of the class, unit, or group of individuals covered by the program, including any applicable eligibility factors and any time limits applicable to the program.
2. Job Titles and Ages — Eligible/Selected Individuals. The job titles and ages of all in
2. Job Titles and Ages — Eligible/Selected Individuals. The job titles and ages of all individuals who are eligible for or who have been selected for the program.
3. Job Titles and Ages — Non-Eligible/Non-Selected Individuals. The job titles and ages o
3. Job Titles and Ages — Non-Eligible/Non-Selected Individuals. The job titles and ages of all individuals in the same job classification or organizational unit who are not eligible for or who have not been selected for the program. [This Exhibit 1 is intentionally left blank and shall be completed and attached by the Company only if applicable at the time of the qualifying termination. If this Release is not offered