Common use of Release and Satisfaction Clause in Contracts

Release and Satisfaction. 9.1. Unless precluded by state or federal law, with respect to Employee, his heirs, executors, legal representatives, successors and assigns, each payment by Employer of the amounts and benefits provided under Sections 6, 7 or 8 hereof shall release, relinquish and forever discharge Employer and any director, officer, employee, shareholder, agent or affiliate of Employer of and from any and all claims, damages, losses, costs, expenses, liabilities or obligations, whether known or unknown which relate to facts or events occurring prior to each payment under Sections 6, 7 or 8 (other than any such claims, damages, losses, costs, expenses, liabilities or obligations arising prior to the termination of Employee's employment and (i) covered by any written indemnification arrangement of Employer with respect to Employee, (ii) arising under any written employee benefit plan or arrangement whether or not tax-qualified) covering Employee or (iii) constituting a statutory right that is not waivable by a party to this Agreement), which Employee has incurred or suffered or may incur or suffer as a result of Employee's employment by Employer or the termination of such employment. 9.2. Any termination of Employee's employment and any expiration of the Terms of Employment under this Agreement shall not affect the continuing operation and effect of Section 3 hereof or this Section 9, which shall continue in full force and effect with respect to employer and Employee and their respective heirs, executors, personal representatives, successors or permitted assigns. Nothing in Section 9 hereof shall be deemed to operate or shall operate as a release, settlement or discharge of any liability of Employee to Employer or others from any act or omission by Employee enumerated in Section 7 hereof as a possible basis for termination of Employee's employment for good cause.

Appears in 2 contracts

Samples: Employment Agreement (T-3 Energy Services Inc), Employment Agreement (T-3 Energy Services Inc)

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Release and Satisfaction. 9.111.1. Unless precluded by state or federal applicable law, with respect to Employee, his heirs, executors, legal representatives, successors and assigns, each payment by Employer of the amounts and benefits provided under Sections 6§7, 7 or 8 §0, §0, xx §00 hereof shall release, relinquish and forever discharge Employer each of the Companies and any directortheir respective directors, officerofficers, employeeemployees, shareholdershareholders, agent or affiliate of Employer and agents of and from any and all claims, damages, losses, costs, expenses, liabilities or obligations, whether known or unknown which relate to facts or events occurring prior to each payment under Sections 6§7, 7 or 8 §0, §0, xx §00 (other than any such claims, damages, losses, costs, expenses, liabilities or obligations arising prior to the termination of Employee's ’s employment and (i) covered by any written indemnification arrangement of Employer with respect to Employee, (ii) arising under any written employee benefit plan or arrangement arrangement, whether or not tax-qualified) , covering Employee Employee, or (iii) constituting a statutory right that is not waivable by a party to this Agreement), which Employee has incurred or suffered or may incur or suffer as a result of Employee's ’s employment by Employer or the termination of such employment. 9.211.2. Any termination of Employee's ’s employment and any expiration of the Terms Term of Employment under this Agreement shall not affect the continuing operation and effect of Section 3 hereof §4 or this Section 9§11, both of which shall survive and continue in full force and effect with respect to employer and Employee each of the parties and their respective heirs, executors, personal representatives, successors or permitted assigns. Nothing in Section 9 hereof this §11 shall be deemed to operate or shall operate as a release, settlement or discharge of any liability of Employee to Employer or others from any act or omission by Employee enumerated in Section 7 §8 hereof as a possible basis for termination of Employee's ’s employment for good causeGood Cause.

Appears in 2 contracts

Samples: Employment Agreement (T-3 Energy Services Inc), Employment Agreement (T-3 Energy Services Inc)

Release and Satisfaction. 9.1. Unless precluded by state or federal law, with respect to Employee, his heirs, executors, legal representatives, successors and assigns, each payment by Employer of the amounts and benefits provided under Sections 6, 7 or 8 hereof shall release, relinquish and forever discharge Employer and any director, officer, employee, shareholder, agent or affiliate of Employer of and from any and all claims, damages, losses, costs, expenses, liabilities or obligations, whether known or unknown which relate to facts or events occurring prior to each payment under Sections 6, 7 or 8 (other than any such claims, damages, losses, costs, expenses, liabilities or obligations arising prior to the termination of Employee's employment and (i) covered by any written indemnification arrangement of Employer with respect to Employee, (ii) arising under any written employee benefit plan or arrangement whether or not tax-qualified) qualified covering Employee or (iii) constituting a statutory right that is not waivable by a party to this Agreement), which Employee has incurred or suffered or may incur or suffer as a result of Employee's employment by Employer or the termination of such employment. 9.2. Any termination of Employee's employment and any expiration of the Terms of Employment under this Agreement shall not affect the continuing operation and effect of Section 3 hereof or this Section 9, which shall continue in full force and effect with respect to employer Employer and Employee and their respective heirs, executors, personal representatives, successors or permitted assigns. Nothing in Section 9 hereof shall be deemed to operate or shall operate as a release, settlement or discharge of any liability of Employee to Employer or others from any act or omission by Employee enumerated in Section 7 hereof as a possible basis for termination of Employee's employment for good cause.

Appears in 1 contract

Samples: Employment Agreement (T-3 Energy Services Inc)

Release and Satisfaction. 9.1. 9.1 Unless precluded by state or federal law, with respect to Employee, his heirs, executors, legal representatives, successors and assigns, each payment by Employer of the amounts and benefits provided under Sections 6, 7 or 8 hereof shall release, relinquish and forever discharge Employer and any director, officer, employee, shareholder, agent or affiliate of Employer of and from any and all claims, damages, losses, costs, expenses, liabilities or obligations, whether known or unknown which relate to facts or events occurring prior to each payment under Sections 6, 7 or 8 (other than any such claims, damages, losses, costs, expenses, liabilities or obligations arising prior to the termination of Employee's ’s employment and (i) covered by any written indemnification arrangement of Employer with respect to Employee, (ii) arising under any written employee benefit plan or arrangement whether or not tax-qualified) qualified covering Employee or (iii) constituting a statutory right that is not waivable by a party to this Agreement), which Employee has incurred or suffered or may incur or suffer as a result of Employee's ’s employment by Employer or the termination of such employment. 9.2. 9.2 Any termination of Employee's ’s employment and any expiration of the Terms of Employment under this Agreement shall not affect the continuing operation and effect of Section 3 hereof or this Section 9, which shall continue in full force and effect with respect to employer Employer and Employee and their respective heirs, executors, personal representatives, successors or permitted assigns. Nothing in Section 9 hereof shall be deemed to operate or shall operate as a release, settlement or discharge of any liability of Employee to Employer or others from any act or omission by Employee enumerated in Section 7 hereof as a possible basis for termination of Employee's ’s employment for good cause.

Appears in 1 contract

Samples: Employment Agreement (T-3 Energy Services Inc)

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Release and Satisfaction. 9.1. (a) Unless precluded by state or federal Federal law, with respect to Employee, his heirs, executors, legal representatives, successors and assigns, each payment by Employer of the amounts and benefits provided under Sections Section 6, 7 or 8 9, hereof shall release, relinquish and forever discharge Employer and any director, officer, employee, shareholder, agent or affiliate Affiliate of Employer of and from any and all claims, damages, losses, costs, expenses, liabilities liabilities, or obligations, whether known or unknown which relate to facts or events occurring prior to each payment under Sections Section 6, 7 or 8 9, (other than any such claims, damages, losses, costs, expenses, liabilities liabilities, or obligations arising prior to the termination of Employee's ’s employment and (i) covered by any written indemnification arrangement of Employer with respect to Employee, (ii) arising under any written employee benefit plan or arrangement arrangement, whether or not tax-qualified) , covering Employee Employee, or (iii) constituting a statutory right that is not waivable by a party to this Agreement), which Employee has incurred or suffered or may incur or suffer as a result of Employee's ’s employment by Employer or the termination of such employment. 9.2. (b) Any termination of Employee's ’s employment and any expiration of the Terms Term of Employment under this Agreement shall not affect the continuing operation and effect of Section 3 hereof or this Section 910, both of which shall survive and continue in full force and effect with respect to employer and Employee each of the parties and their respective heirs, executors, personal representatives, successors or permitted assigns. Nothing in Section 9 hereof 10 shall be deemed to operate or shall operate as a release, settlement or discharge of any liability of Employee to Employer or others from any act or omission by Employee enumerated in Section 7 hereof as a possible basis for termination of Employee's ’s employment for good causeGood Cause.

Appears in 1 contract

Samples: Employment Agreement (T-3 Energy Services Inc)

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