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Termination of Previous Agreements
Termination of Previous Agreements contract clause examples
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Entire Agreement; Previous Agreements Superseded. This Agreement contains the entire agreement between the parties concerning the subject matter hereof and supersedes all prior agreements, understandings, discussions, negotiations and undertakings, whether written or oral, between the parties with respect thereto. The only exception is the Stock Option Agreement referenced in Section 5.3. There are no other representations, understandings, or agreements by or between the parties which are not contained within the four corners of this Agreement.

Previous Agreement. The parties entered into a Consulting Agreement on February 1, 2020. Both parties acknowledge and agree that the agreed upon services have been completed and therefor both parties desire to enter into a new consulting arrangement.

Previous Agreement. This letter agreement, upon acceptance by you, expressly supersedes that certain letter agreement between you and the Corporation dated May 2, 2017, which primarily concerns rights and obligations upon your termination of employment, and such agreement shall, as of the date of your acceptance, have no further force or effect.

Previous Note. On March 6, 2018 the Noteholder was issued a Promissory Note in the principal amount of up to $500,000 by the Borrower (the “Original Note”). On May 14th, 2018 the Noteholder provided additional $300,000 of funds to the Borrower and surrendered the Original Note, in return for which the Noteholder was issued this Note.

Previous Distributions. In determining the Present Value of Accrued Benefit or the Aggregate Account of any participant under any plan (or plans that form the Aggregation Group), such present value or account shall be increased by the aggregate of distributions made to such participant from such plan (or plans forming the Aggregation Group) during the one-year period ending on the Determination Date. For this purpose, "participant" shall include an employee who is no longer employed by the Company or an Affiliated Company. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Code [Section 416(g)(2)(A)(i)]. In the case of a distribution made for a reason other than severance from employment, death, or disability, this provision shall be applied by substituting "five-year period" for "one-year period." Despite the foregoing, any distribution to a participant that is made after the Valuation Date and before the Determination Date for any plan year shall not be considered a distribution to the extent it is already included in such participant's Present Value of Accrued Benefit or Aggregate Account as of such Valuation Date.

Previous Note. On May 31, 2018 the Noteholder was issued a Promissory Note in the principal amount of one million one hundred thousand U.S. dollars ($1,100,000) by the Borrower (the “Original Note”). On August ​, 2018 the Noteholder provided an additional nine hundred thousand dollars ($900,000) of funds to the Borrower and surrendered the Original Note, in return for which the Noteholder was issued this Note.

Previous Note. On May 14, 2018 the Noteholder was issued a Promissory Note in the principal amount of eight hundred thousand dollars ($800,000) by the Borrower (the “Original Note”). On May 31st, 2018 the Noteholder agreed to provide an additional three hundred thousand dollars ($300,000) of funds to the Borrower and surrendered the Original Note, in return for which the Noteholder was issued this Note.

Termination of Agreements. The Company shall have delivered to Parent documentation reasonably satisfactory to Parent evidencing the Company’s compliance in full with Section Error! Reference source not found..

Employment; Previous Agreements or Arrangements; Release of Claims. Subject to the terms and conditions of this Agreement, the Employer agrees to employ Executive, and Executive agrees to be employed by the Employer, as the Effective Date, pursuant to the terms of this Agreement. This Agreement supersedes and replaces in its entirety any employment agreement, oral or in writing, or comparable arrangements between the Employer or any subsidiary of the Employer and Executive in effect prior to the Effective Date, and any such agreements or arrangements shall be null and void. Executive hereby relinquishes and unconditionally forfeits any claim or entitlement to any severance pay or other post-termination benefits pursuant to any agreement or arrangement other than as contemplated herein.

Employment; Previous Agreements or Arrangements; Release of Claims. Subject to the terms and conditions of this Agreement, the Employer agrees to employ Executive, and Executive agrees to be employed by the Employer, as the Effective Date, pursuant to the terms of this Agreement. This Agreement supersedes and replaces in its entirety any employment agreement, oral or in writing, or comparable arrangements between the Employer or any subsidiary of the Employer and Executive in effect prior to the Effective Date, and any such agreements or arrangements shall be null and void. Executive hereby relinquishes and unconditionally forfeits any claim or entitlement to any severance pay or other post-termination benefits pursuant to any agreement or arrangement other than as contemplated herein.

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