Common use of Employment Release Clause in Contracts

Employment Release. Except as provided in paragraph 1(e)(iii), effective as of the date hereof, you and your heirs, assigns, and agents release, waive, and discharge GE Capital, the Company and their affiliates and their respective directors, officers, employees, subsidiaries, affiliates, and agents (collectively, the "Released Persons") from each and every claim, action or right of any sort, known or unknown, arising on or before the date hereof that arises out of, or relates to, your employment by the Company or any of its affiliates. (i) Except as provided in subparagraph (iii) below, the foregoing release includes, but is not limited to, any claim of discrimination on the basis of race, sex, religion, marital status, sexual orientation, national origin, handicap or disability, age, veteran status, special disabled veteran status, or citizenship status; any other claim based on a statutory prohibition; any claim arising out of or related to an express or implied employment contract, any other contract affecting terms and conditions of employment, or a covenant of good faith and fair dealing; any tort claims and any personal gain with respect to any claim arising under the qui tam provisions of the False Claims Act, 31 U.S.C. 3730. (ii) You represent that you understand the foregoing release, that rights and claims under the Age Discrimination in Employment Act of 1967, as amended, ("ADEA") are among the rights and claims against the Released Persons you are releasing, and that you understand that you are not releasing any rights or claims arising after the Effective Time. (iii) This release shall not apply to any claim, action or right that you have under any of the Company's employee benefit plans, programs or arrangements, fringe benefits or perquisites (including any contractual right to reimbursement upon the sale of a principal residence), other than your rights under any change in control agreement or related agreement, including the Change in Control Agreement entered into on November 29, 2001 and the letter agreement and term sheet dated December 14, 2001. (iv) You acknowledge that before entering into this Agreement, you have had the opportunity to consult with any attorney or other advisor of your choice, and that this Agreement constitutes advice from the Company to do so if you choose. You further acknowledge that you have entered into this Agreement of your own free will, and that no promises or representations have been made to you by any person to induce you to enter into this Agreement other than the express terms set forth herein. You further acknowledge that you have read this Agreement and understand all of its terms, including the waiver of rights set forth in paragraph 1(e) of this Agreement above. You may revoke this Agreement after signing it, but only by delivering a signed revocation notice to the Company within seven (7) days of signing this Agreement.

Employment Release. Except as provided in paragraph 1(e)(iii), effective as of the date hereof, you and your heirs, assigns, and agents release, waive, and discharge GE Capital, the Company and their affiliates and their respective directors, officers, employees, subsidiaries, affiliates, and agents (collectively, the "Released Persons") from each and every claim, action or right of any sort, known or unknown, arising on or before the date hereof that arises out of, or relates to, your employment by the Company or any of its affiliates. (i) Except as provided in subparagraph (iii) below, the foregoing release includes, but is not limited to, any claim of discrimination on the basis of race, sex, religion, marital status, sexual orientation, national origin, handicap or disability, age, veteran status, special disabled veteran status, or citizenship status; any other claim based on a statutory prohibition; any claim arising out of or related to an express or implied employment contract, any other contract affecting terms and conditions of employment, or a covenant of good faith and fair dealing; any tort claims and any personal gain with respect to any claim arising under the qui tam provisions of the False Claims Act, 31 U.S.C. 3730. (ii) You represent that you understand the foregoing release, that rights and claims under the Age Discrimination in Employment Act of 1967, as amended, ("ADEA") are among the rights and claims against the Released Persons you are releasing, and that you understand that you are not releasing any rights or claims arising after the Effective Time. (iii) This release shall not apply to any claim, action or right that you have under any of the Company's employee benefit plans, programs or arrangements, fringe benefits or perquisites (including any contractual right to reimbursement upon the sale of a principal residence), other than your rights under any change in control agreement or related agreement, including the Change in Control Agreement entered into on November 29, 2001 and the letter agreement and agreement, the attached term sheet and the letter agreement concerning equity compensation, each dated December 14, 2001. (iv) You acknowledge that before entering into this Agreement, you have had the opportunity to consult with any attorney or other advisor of your choice, and that this Agreement constitutes advice from the Company to do so if you choose. You further acknowledge that you have entered into this Agreement of your own free will, and that no promises or representations have been made to you by any person to induce you to enter into this Agreement other than the express terms set forth herein. You further acknowledge that you have read this Agreement and understand all of its terms, including the waiver of rights set forth in paragraph 1(e) of this Agreement above. You may revoke this Agreement after signing it, but only by delivering a signed revocation notice to the Company within seven (7) days of signing this Agreement.