Common use of Company’s General Release and Covenant Not to Sxx Clause in Contracts

Company’s General Release and Covenant Not to Sxx. a. The Company, on its own behalf and on behalf of the other Company Parties, hereby generally releases and forever discharges the Executive Parties from any and all Claims, known or unknown, of any kind and every nature whatsoever, and whether or not accrued or matured, which any of them may have, arising out of or relating to any transaction, dealing, relationship, conduct, act or omission, or any other matters or things occurring or existing at any time prior to and including the Execution Date (including but not limited to any Claims based on, relating to or arising under breach of contract (whether oral or written), tort, fraud, defamation, slander, violation of public policy, negligence, promissory estoppel, or any other federal, state or local law relating to employment or discrimination in employment) in all cases arising out of or relating to Executive's employment by the Company or any Subsidiary thereof or Executive’s investment in the Company or any Subsidiary thereof or Executive’s services as a director, officer or employee of any Company Party (or of any entity for which Executive has served in any such capacity or a similar capacity at the request of the Company), or otherwise relating to the termination of such employment or services. b. The Company, on behalf of itself and the other Company Parties, hereby covenants forever not to assert, file, prosecute, commence, institute (or sponsor or purposely facilitate any person in connection with the foregoing), any complaint or lawsuit or any legal, equitable, arbitral or administrative proceeding of any nature, against any of the Executive Parties in connection with any released Claims, and represents and warrants that no other person or entity has initiated or to the extent within its control, will initiate any such proceeding on its behalf, and that if such a proceeding is initiated, the Company and the other Company Parties shall accept no benefit therefrom.