Fill and Sign the Release Employee Agreement Form

Release Constituting Accord and Satisfaction between Employer and Executive Employee Pursuant to Severance Agreement This Accord and Satisfaction and Release, hereinafter called this Release, is made ____________________ (date) , hereinafter called the Effective Date, between ____________________________ (Name of Employer), a corporation organized and existing under the laws of the state of _________________________ (name of state), with its principal office located at ___________________________________________ ______________ (street address, city, state, zip code), referred to herein as Executive. Whereas, this Release is executed pursuant to Section ___ (number or letter) of the Severance Agreement (the Agreement) dated ___________________ (date) between Employer and Executive; Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the parties agree as follows: I. Executive ’s ReleaseIn consideration of the promises, covenants and other valuable consideration provided by Employer in the Release, Executive, for himself and for his representatives, executors, administrators, heirs and assigns, unconditionally releases, satisfies and discharges Employer (as defined in the Release), and its and their current and former employees, officers, agents and directors in their capacities as such (collectively, the Released Parties ), from any and all claims, causes of action, demands, losses, obligations, liabilities, damages, judgments, costs, expenses (including attorney's fees) of any nature whatsoever, known or unknown, contingent or non-contingent (collectively called the Claims ), that Executive had, has or will have arising from, or connected with, any act, omission, deed or event occurring up to the Effective Date, including but not limited to Claims: A.Related to Executive's employment or other relationship with Employer and separation or termination of such employment or other relationship; B.Under any federal or state law, including but not limited to Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Employee Retirement Income Security Act, the Consolidated Omnibus Budget Reconciliation Act, the National Labor Relations Act, the Occupational Safety and Health Act, the Fair Labor Standards Act, the Family and Medical Leave Act, the Workers Adjustment and Retraining Notification Act, the Americans with Disabilities Act, but excluding the Age Discrimination in Employment Act of 1967;C. Under federal or state common law; and D. Under any Release, whether written or oral, including the Employment Release. However, Executive does not discharge or release: (i) any Claims under the Release; (ii) Executive's right to indemnification or advancement of expenses under any agreement, Employer's articles of incorporation, charter or bylaws, any insurance policy or applicable law; or (iii) Claims against any Released Party arising from events in which the Released Party was not acting as an employee, officer, agent or director of Employer.II. No Claims against Released Parties Executive warrants and represents that, to the full extent permitted by law,Executive has not and will not bring or assign any Claim or action against Employer orany of the Released Parties that is released by Executive under Section I of this Release. Executive agrees that if Executive brings or assigns any such Claim or action, Executive shall pay all costs and expenses, including reasonable attorney's fees,incurred by Employer or the Released Parties in dismissing or defending the action or lawsuit. Nothing in this provision, however, shall be interpreted to prevent Executive from bringing a Claim or action to enforce the terms of the Release or to bring a Claim or action which is not released under Section I of this Release. III. Breach of this Release If a court of competent jurisdiction determines that Executive has breached or failed to perform any part of this Release, Employer shall be entitled to injunctive relief to enforce this Release and Executive shall be responsible for paying Employer's costs and attorney's fees incurred in enforcing this Release. IV. Counterpart Releases This Release may be executed in multiple counterparts, whether or not all signatories appear on these counterparts, and each counterpart shall be deemed an original for all purposes. BY SIGNING THIS RELEASE, EXECUTIVE ACKNOWLEDGES THAT HE HAS CAREFULLY READ THIS RELEASE, THAT HE UNDERSTANDS ALL OF ITS TERMS, AND THAT HE IS ENTERING INTO IT VOLUNTARILY. HE FURTHER ACKNOWLEDGES THAT HE IS AWARE OF HIS RIGHTS TO REVIEW AND CONSIDER THIS RELEASE WITH AN ATTORNEY AND THAT BEFORE SIGNING THIS RELEASE, HE HAS THOROUGHLY DISCUSSED ALL ASPECTS OF THIS RELEASE WITH COUNSEL OF HIS CHOOSING. HE ALSO ACKNOWLEDGES THAT HE WILL BE RECEIVING BENEFITS THAT HE WOULD NOT OTHERWISE BE ENTITLED TO RECEIVE EXCEPT BY VIRTUE OF HIS ENTERING INTO THIS RELEASE AND THE AGREEMENT.V. SeverabilityThe invalidity of any portion of this Release will not and shall not be deemed to affect the validity of any other provision. If any provision of this Release is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. VI.No Waiver The failure of either party to this Release to insist upon the performance of any of the terms and conditions of this Release, or the waiver of any breach of any of the terms and conditions of this Release, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. VII. Governing Law This Release shall be governed by, construed, and enforced in accordance with the laws of the State of ___________________ (name of state). VIII.Notices Unless provided herein to the contrary, any notice provided for or concerning this Release shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Release. IX. Attorney’s Fees In the event that any lawsuit is filed in relation to this Release, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. X.Mandatory Arbitration Notwithstanding the foregoing, and anything herein to the contrary, any dispute under this Release shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. XI. Modification of Release Any modification of this Release or additional obligation assumed by either party in connection with this Release shall be binding only if placed in writing and signed by each party or an authorized representative of each party. XII. Assignment of Rights The rights of each party under this Release are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. XIII.Compliance with LawsIn performing under this Release, all applicable governmental laws, regulations, orders, and other rules of duly-constituted authority will be followed and complied with in all respects by both parties. WITNESS our signatures as of the day and date first above stated. ___________________________ (Name of Employer) ________________________ By: _____________________________ (Printed Name of Employee) _______________________________ ________________________ (Printed Name & Office in Corporation) (Signature of Employee) _____________________________ (Signature of Officer)