Common use of No Further Liability; Release Clause in Contracts

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holders, successors, assigns, agents and repre-sentatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 4 contracts

Samples: Employment Agreement (SyntheMed, Inc.), Employment Agreement (SyntheMed, Inc.), Employment Agreement (SyntheMed, Inc.)

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No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 4 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveEmployee's employment and termination of employment. Other than paying ExecutiveEmployee's Base Salary through the date of termination of ExecutiveEmployee's employment and making any severance payment pursuant to and in accordance with this Section 5 4 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive Employee or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof this Section 4 upon the delivery by Executive Employee to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive Employee may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to ExecutiveEmployee's employment by the Company and the termination of such employment.

Appears in 3 contracts

Samples: Employment Agreement (Atlantic Technology Ventures Inc), Employment Agreement (Atlantic Technology Ventures Inc), Employment Agreement (Atlantic Technology Ventures Inc)

No Further Liability; Release. Payment made and performance by ----------------------------- the Company in accordance with this Section 5 7 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment pursuant to and in accordance with this Section 5 7 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof this Section 7 upon the delivery by Executive to the Company of a release in form and substance satisfactory substantially similar to the Company form attached as Exhibit B of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and the termination of such employment.

Appears in 2 contracts

Samples: Employment Agreement (Orchid Biosciences Inc), Employment Agreement (Orchid Biosciences Inc)

No Further Liability; Release. Payment made and performance by ----------------------------- the Company in accordance with this Section 5 6 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment pursuant to and in accordance with this Section 5 6 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof this Section 6 upon the delivery by Executive to the Company of a release in form and substance satisfactory substantially similar to the Company form attached as Exhibit B of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and the termination of such employment.

Appears in 2 contracts

Samples: Employment Agreement (Orchid Biosciences Inc), Employment Agreement (Orchid Biosciences Inc)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 7 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment and continuing benefits and perquisites pursuant to and in accordance with this Section 5 7 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person or entity under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof this Section 7 upon the delivery by Executive to the Company of a release (in form and substance satisfactory to the Company Company) of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 2 contracts

Samples: Employment Agreement (Twinlab Corp), Will Agreement (Twinlab Corp)

No Further Liability; Release. Payment made and performance by the ----------------------------- Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 2 contracts

Samples: Employment Agreement (Life Medical Sciences Inc), Employment Agreement (Life Medical Sciences Inc)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Life Medical Sciences Inc)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 4 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tive's Employee’s employment and termination of employment. Other than paying Executive's Employee’s Base Salary through Salary, compensation and benefits for the date balance of termination of Executive's employment the Term and making any severance payment pursuant to and in accordance with this Section 5 4 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive Employee or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof this Section 4 upon the delivery by Executive Employee to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive Employee may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's Employee’s employment by the Company and the termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Pathogenics, Inc.)

No Further Liability; Release. Payment made and performance by the Company in accordance with Section 6 of this Section 5 Termination Agreement shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability (other than any obligations Company may have pursuant to Company's Stock Incentive and Stock Option Plans) with respect to Execu-tiveto, in connection with or arising out of Executive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment making payments and making continuing any severance payment pursuant to benefits and in accordance with as otherwise set forth under this Section 5 (as applicable)Termination Agreement, the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability under this Agreement to Executive or any other person or entity arising out of or related to Executive's employment or the termination thereof, and Executive waives any and all rights to pursue any other remedy at law or in equity; provided, however, that this shall not constitute a waiver or release of any rights provided under this Agreementany federal, state, or local laws or regulations relating to discrimination in employment. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof Section 5 upon the delivery by Executive to the Company of a release (in form and substance satisfactory to the Company Company) of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Termination Agreement (Twinlab Corp)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary and car allowance through the date of termination of Executive's employment and making any severance payment and continuing benefits and perquisites pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Gt Interactive Software Corp)

No Further Liability; Release. Payment Full payment made and complete performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment and continuing benefits and perquisites pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment, other than any failure by the Company to pay amounts otherwise required by this Agreement. 9 6.

Appears in 1 contract

Samples: Employment Agreement (Gt Interactive Software Corp)

No Further Liability; Release. Payment made and performance by -------------------------------- the Company in accordance with this Section 5 4 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveEmployee's employment and termination of employment. Other than paying ExecutiveEmployee's Base Salary through the date of termination of ExecutiveEmployee's employment and making any severance payment pursuant to and in accordance with this Section 5 4 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive Employee or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof this Section 4 upon the delivery by Executive Employee to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive Employee may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to ExecutiveEmployee's employment by the Company and the termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Pathogenics, Inc.)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment and continuing benefits, and perquisites, bonus and other payments pursuant to and in accordance with this Section 5 (5, as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any the full severance or and other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive (prior to the commencement of such payments) to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Gt Interactive Software Corp)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 4 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment and continuing benefits and perquisites pursuant to and in accordance with this Section 5 4 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c4(c) or 5(d4(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Ben & Jerrys Homemade Inc)

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No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecu­tive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstock­holders, successors, assigns, agents and repre-sentatives repre­sentatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Pathfinder Cell Therapy, Inc.)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 5(d) shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment and continuing benefits and perquisites pursuant to and in accordance with this Section 5 5(d) (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or under Section 5(d) hereof shall be conditioned upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Executive Employment Agreement (Gt Interactive Software Corp)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment reimbursing Executive for the reasonable costs of medical and dental health insurance pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Magna Lab Inc)

No Further Liability; Release. Payment made and performance by the Company in accordance with Section 4 of this Section 5 Agreement shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability (other than obligations Company may have pursuant to Company's Stock Incentive and Stock Option Plans) with respect to Execu-tiveto, in connection with or arising out of Executive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment making payments and making continuing any severance payment pursuant to and in accordance with benefits under this Section 5 (as applicable)4 , the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability under this Agreement to Executive or any other person or entity arising out of or related to Executive's employment or the termination thereof, and Executive waives any and all rights to pursue any other remedy at law or in equity; provided, however, that this shall not constitute a waiver or release of any rights provided under this Agreementany federal, state, or local laws or regulations relating to discrimination in employment. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof this Section 4 upon the delivery by Executive to the Company of a release (in form and substance satisfactory to the Company Company) of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Twinlab Corp)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance reasonably satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (SyntheMed, Inc.)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment and continuing benefits and perquisites pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Gt Interactive Software Corp)

No Further Liability; Release. Payment Full payment made and complete performance by the Company in accordance with this Section 5 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tiveExecutive's employment and termination of employment. Other than paying Executive's Base Salary through the date of termination of Executive's employment and making any severance payment and continuing benefits and perquisites pursuant to and in accordance with this Section 5 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof upon the delivery by Executive to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's employment by the Company and termination of such employment, other than any failure by the Company to pay amounts otherwise required by this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Gt Interactive Software Corp)

No Further Liability; Release. Payment made and performance by the Company in accordance with this Section 5 4 shall operate to fully discharge and release the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives from any further obligation or liability with respect to Execu-tive's Employee’s employment and termination of employment. Other than paying Executive's Employee’s Base Salary through the date of termination of Executive's Employee’s employment and making any severance payment pursuant to and in accordance with this Section 5 4 (as applicable), the Company and its directors, officers, employees, subsidiaries, affiliates, stock-holdersstockholders, successors, assigns, agents and repre-sentatives representatives shall have no further obligation or liability to Executive Employee or any other person under this Agreement. The Company shall have the right to condition the payment of any severance or other amounts pursuant to Sections 5(c) or 5(d) hereof this Section 4 upon the delivery by Executive Employee to the Company of a release in form and substance satisfactory to the Company of any and all claims Executive Employee may have against the Company and its directors, officers, employees, subsidiaries, affiliates, stockholders, successors, assigns, agents and representatives arising out of or related to Executive's Employee’s employment by the Company and the termination of such employment.

Appears in 1 contract

Samples: Employment Agreement (Pathogenics, Inc.)

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