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Acknowledgement of Terms
Acknowledgement of Terms contract clause examples
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Participant Acknowledgement. The Participant hereby acknowledges receipt of a copy of the Plan.

Executive Acknowledgement. Executive confirms and represents to the Company that he has had the opportunity to obtain the advice of legal counsel, financial and tax advisers, and such other professionals as he deems necessary for entering into this Agreement, and he has not relied upon the advice of the Company or the Company’s officers, directors, or employees.

Participant’s Acknowledgement. This Award is granted pursuant to the Plan and is subject to the terms thereof. By accepting this Award, you acknowledge that you # have read this Agreement, # have received and read the Plan, # have had an opportunity to obtain the advice of counsel prior to accepting this Agreement, and # fully understand the terms and conditions of this Agreement and the Plan.

Lender Acknowledgement. The Lender acknowledges that any obligations of the Borrower hereunder are unsecured and are expressly subordinated and junior in right of payment to the Senior Indebtedness as more fully described in Section 22.

Employee Acknowledgement. Executive acknowledges that Executive has read and understands this Agreement, is fully aware of its legal effect, has not acted in reliance upon any representations or promises made by the Company other than those contained in writing herein, and has entered into this Agreement freely based on Executive’s own judgment.

EXECUTIVE ACKNOWLEDGES EXECUTIVE HAS HAD THE OPPORTUNITY TO CONSULT LEGAL COUNSEL CONCERNING THIS AGREEMENT, THAT EXECUTIVE HAS READ AND UNDERSTANDS THE AGREEMENT, THAT EXECUTIVE IS FULLY AWARE OF ITS LEGAL EFFECT, AND THAT EXECUTIVE HAS ENTERED INTO IT FREELY BASED ON EXECUTIVE’S OWN JUDGMENT AND NOT ON ANY REPRESENTATIONS OR PROMISES OTHER THAN THOSE CONTAINED IN THIS AGREEMENT.

Employee’s Acknowledgement. Employee acknowledges and agrees that, except for this Agreement, Employee would have no right to receive the benefits described in Section 7.

Mutual Acknowledgement. The Company and the Indemnitee acknowledge that in certain instances, applicable law or public policy may prohibit the Company from indemnifying its directors, officers, employees, controlling persons, agents or fiduciaries under this Agreement or otherwise.

ACKNOWLEDGEMENT OF RESIGNATION. The Employer and Cronos Group, Inc., on behalf of themselves and their Affiliates (as defined in the Membership Interest Purchase Agreement by and among Cronos Group Inc., Employer and, for certain limited purposes, Executive Releasor and [[Person C:Person]]ted August 1, 2019 (the “MIPA”) (collectively, the “Employer Group”) acknowledge and agree that Executive Releasor’s resignation in and of itself shall not be deemed to be a breach by Executive Releasor of any obligation or covenant to or with any member of the Employer Group under any agreement (including, without limitation, Executive Releasor’s Confidentiality, Non-Competition and Non-Solicitation Agreement, dated as of August 1, 2019 (the “Restrictive Covenant Agreement”)), whether or not such resignation in and of itself causes any direct or indirect loss or damages, reputational harm or other adverse changes to any member of the Employer Group, including, without limitation, any diminishment or deterioration of the value of the businesses of the Employer Group or to any employment, third-party, partnership or other business relationships of the Employer Group, and no member of the Employer Group shall bring any Claim in respect of such resignation against the Executive Releasor; provided, that, for the avoidance of doubt, the Employer Group may bring a Claim to the extent arising from any other action or omission taken by Executive Releasor, directly or indirectly, that would constitute a breach of any obligation or covenant to or with any member of the Employer Group under this Release, the Letter Agreement, the Employment Agreement or the Restrictive Covenant Agreement.

Acknowledgement of Covenants. Employee reaffirms that Employee shall comply with the provisions in Article VI of the Executive Severance Plan, as amended (the “Executive Severance Plan”) [including, but not limited to, [Sections 6.2] (Confidential Information), 6.3 (Non-Solicitation), 6.4 (Return of Confidential Information), [Section 6.5] (Cooperation), 6.6 (Non-Disparagement)], during and after the Employee’s employment with the Company. Without intending to limit the scope of the preceding sentence, Employee hereby acknowledges that [Section 6.2] of that Executive Severance Plan was amended October 24, 2016 (after the Executive signed the Acknowledgement of Eligibility & Agreement to Comply with Conditions for the Plan) to read as follows (understanding that references to the “Eligible Employee” are references to “Employee”):

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