Common use of DISCHARGE OF COMPANY OBLIGATIONS Clause in Contracts

DISCHARGE OF COMPANY OBLIGATIONS. In consideration of receiving any payments or benefits under Section 5 of this Agreement, the Executive agrees to sign a release in the form attached to this Agreement as Exhibit A, as a condition precedent to receiving them. The amounts payable to Executive pursuant to this Section 5 following termination of his employment (including amounts payable with respect to Vested Benefits) shall be in full and complete satisfaction of Executive's rights under this Agreement and any other claims he may have in respect of his employment by the Company or any of its subsidiaries. Such amounts shall constitute liquidated damages with respect to any and all such rights and claims and, upon Executive's receipt of such amounts, the Company shall be released and discharged from any and all liability to Executive in connection with this Agreement or otherwise in connection with Executive's employment with the Company and its subsidiaries. Nothing in this Paragraph 5(e) shall be construed to release the Company from any obligation to indemnify Executive and hold Executive harmless from and against any claim, loss or cause of action arising from or out of Executive's performance as an officer, director or employee of the Company or any of its subsidiaries or in any other capacity, including any fiduciary capacity, in which Executive served at the request of the Company to the maximum extent permitted by applicable law and the certificate of incorporation and by-laws of the Company.

DISCHARGE OF COMPANY OBLIGATIONS. In consideration of receiving any payments or benefits under Section 5 of this Agreement, the Executive agrees to sign a release in the form attached to this Agreement as Exhibit A, as a condition precedent to receiving them. The amounts payable to Executive pursuant to this Section 5 following termination of his employment (including amounts payable with respect to Vested Benefits) shall be in full and complete satisfaction of Executive's rights under this Agreement and any other claims he may have in respect of his employment by the Company or any of its subsidiaries. Such amounts shall constitute liquidated damages with respect to any and all such rights and claims and, and upon Executive's receipt of such amounts, the Company shall be released and discharged from any and all liability to Executive in connection with this Agreement or otherwise in connection with Executive's employment with the Company and its subsidiaries. Nothing in this Paragraph 5(e) shall be construed to release the Company from any obligation to indemnify Executive and hold Executive harmless from and against any claim, loss or cause of action arising from or out of Executive's performance as an officer, director or employee of the Company or any of its subsidiaries or in any other capacity, including any fiduciary capacity, in which Executive served at the request of the Company to the maximum extent permitted by applicable law and the certificate of incorporation and by-laws of the Company.