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Binding Effect
Binding Effect contract clause examples

Binding Effect. This Agreement will be deemed binding and effective immediately upon its execution by the Employee; provided, however, that in accordance with the ADEA, Employee’s waiver of ADEA claims under this Agreement is subject to the following: the Employee may consider the terms of his waiver of claims under the ADEA for twenty-one(21) days before signing it and may consult legal counsel if the Employee so desires. The Employee may revoke his waiver of claims under the ADEA within seven (7) days of the day he executes this Agreement. The Employee’s waiver of claims under the ADEA will not become effective until the eighth (8th) day following the Employee’s signing of this Agreement. The Employee may revoke his waiver of ADEA claims under this Agreement by delivering written notice of his revocation, via facsimile and overnight mail, before the end of the seventh (7th) day following the Employee’s signing of this Agreement to: Bruce C. Rosetto, Esq., Greenberg Traurig, P.A., 5100 Town Center Circle, Suite 400, [[Address A:Address]] 33486. In the event that the Employee revokes his waiver of ADEA claims under this Agreement prior to the eighth (8th) day after signing it, the remaining portions of this Agreement shall remain in full force in effect, except that the obligation of the Company to provide the payments and benefits set forth in Section 2 of this Agreement shall be null and void. The Employee further understands that if the Employee does not revoke the ADEA waiver in this Agreement within seven (7) days after signing this Agreement, his waiver of ADEA claims will be final, binding, enforceable, and irrevocable.

Acknowledgment of Waiver of Claims under ADEA. Employee acknowledges that Employee is waiving and releasing any rights Employee may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary. Employee agrees that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the date Employee signs this Agreement. Employee acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Employee was already entitled. Employee further acknowledges that Employee has been advised by this writing that: # Employee should consult with an attorney prior to executing this Agreement; # Employee has twenty-one (21) days within which to consider this Agreement; # Employee has seven (7) days following Employee’s execution of this Agreement to revoke this Agreement; # this Agreement shall not be effective until after the revocation period has expired; and # nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law. In the event Employee signs this Agreement and returns it to the Company in less than the 21-day period identified above, Employee hereby acknowledges that Employee has freely and voluntarily chosen to waive the time period allotted for considering this Agreement. Employee acknowledges and understands that revocation must be accomplished by a written notification to the person executing this Agreement on the Company’s behalf that is received prior to the Effective Date. The parties to this Agreement agree that changes, whether material or immaterial, do not restart the running of the 21-day period.

ADEA Waiver. Employee acknowledges that Employee is knowingly and voluntarily waiving and releasing any rights Employee may have under the Federal Age Discrimination in Employment Act (“ADEA Waiver”) and that the consideration given for the ADEA Waiver is in addition to anything of value to which Employee is already entitled. Employee further acknowledge that: # Employee’s ADEA Waiver does not apply to any claims that may arise after Employee executes this Agreement; # Employee should consult with an attorney prior to executing this Agreement; # Employee has 21 calendar days from the employment end date (the “Release Deadline”) within which to consider this Agreement (although Employee may choose to execute this Agreement earlier); # Employee have 7 calendar days following the execution of this Agreement to revoke Employee’s execution of this Agreement; and # the execution of this Agreement will not be effective until the eighth day after Employee executes this Agreement provided that Employee has not revoked it. Employee agrees that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original 21-day consideration period provided in this section. To revoke Employee’s execution of this Agreement, Employee must email the [[Organization A:Organization]] notice of revocation at the email address listed below to the end of the 7-day period. Employee acknowledges that Employee’s execution of this Agreement is knowing and voluntary. The offer to any amount beyond the Accrued Benefits described in Section 2 of this Agreement will be automatically withdrawn if Employee does not execute this Agreement within the Release Deadline.

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