Common use of Release by the Employee Clause in Contracts

Release by the Employee. In consideration of the grant of the Option, the receipt and sufficiency of which are acknowledged, the Employee together with his or her predecessors, successors, heirs, administrators, executors, personal representatives, attorneys and assigns (collectively the “Employee Releasors”) hereby releases, remises, waives and forever discharges Generex and its predecessors, successors, affiliates, subsidiaries, officers, directors, employees, attorneys, contractors, consultants and their respective heirs, administrators, personal representatives, executors, attorneys and assigns (collectively the “Generex Releasees”), from and against all claims, demands, causes of action, contracts, agreements, liabilities, costs, fees, expenses, actions, agreements, payments, and accounts of every nature and kind, both known and unknown, either at law or in equity, that the Employee Releasors now have, ever has had, or may have had up to and until the date this Agreement is executed by the Parties, whether at law or in equity, arising out of or related to the Deferred Amount and any amounts claimed to be due and owing in relation thereto. Notwithstanding the foregoing, nothing in this Agreement shall be construed as releasing the Generex Releasees from any obligations expressly set forth in this Agreement.