Common use of Waiver of Known and Unknown Claims Clause in Contracts

Waiver of Known and Unknown Claims. I expressly understand and acknowledge that it is possible that I have unknown losses or claims against the Released Parties or that I may have underestimated the amount or extent of any claims or losses I believe I may have against the Released Parties. I expressly accept and assume the risk of such unknown or underestimated losses or claims and acknowledge and agree that the benefits to be provided to me pursuant to the Separation Agreement fully compensate me for such risks. I expressly acknowledge that this Release is intended to include all claims of any kind, including those that I do not know or suspect to exist in my favor. I expressly waive all rights under California Civil Code Section 1542 and any laws or principles of common law which are similar, comparable or equivalent to California Civil Code Section 1542, which provides: “A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.”