MUTUAL SEPARATION AGREEMENT
This Agreement is entered into by Xxxxxxx & Xxxxx and Xxxx
Xxxxx, its general partner (hereinafter collectively referred to
as "BS&S") and Lancit Media Entertainment, Ltd., on behalf of
itself and its affiliates, predecessors, successors and assigns,
agents, and employees, past and present (hereinafter collectively
referred to as "Company"). The parties agree as follows:
1. Separation. BS&S agree to the termination of the
November 15, 1996 Consulting Agreement with Xxxxxxx & Stone
effective immediately and acknowledges the separation of Xxxx
Xxxxx'x prior employment by the Company effective November 1,
1996.
2. Separation Pay. In consideration for the covenants set
forth herein, the Company agrees to pay Xxxxxxx & Stone $6,150
upon execution hereof representing the final installment payment
due pursuant to the Consulting Agreement. The Company further
agrees to pay Xxxxxxx & Xxxxx, as and for separation pay, the sum
of $63,000 on July 10, 1997 and the additional sum of $63,000 on
July 10, 1998.
3. General Release. BS&S hereby release the Company, its
affiliates, predecessors, successors and assigns, agents,
officers and employees, past and present, from any and all
claims, contracts and other liabilities of whatever kind, whether
now known or unknown, arising out of or in any way connected with
his employment and the cessation of that employment, and covering
the period up to the date of this Agreement. This release
includes, without limitation, any and all claims under Title VII
of the Civil Rights Act of 1964 as amended by the Civil Rights
Act of 1991, the Americans With Disabilities Act of 1990, the Age
Discrimination in Employment Act as modified by the Older Workers
Benefit Protection Act, the Family and Medical Leave Act, the New
York Human Rights Law, and any other federal, state or local
human rights, civil rights, pension or labor laws, rules and/or
regulations, public policy, contract or tort law (regardless of
whether of statutory or common law origin), or any other action
against the Company based upon any conduct up to and including
the date of this Agreement. BS&S further agree that they have
not, nor will they ever, institute any claim, action or other
proceeding that is subject to the foregoing release, and
acknowledge that this Agreement shall bar any such action.
Lancit also releases BS&S from any and all claims arising out of
any conduct up to and including the date of this Agreement, and
agrees that it shall not institute any claim in respect of such
conduct.
4. Non-Admissions. Nothing in this Agreement constitutes
or shall be interpreted as any admission of liability or
wrongdoing on the part of either party.
5. Complete Agreement. Other than as set forth herein,
BS&S warrant that no promise or inducement has been offered for
this Agreement. The parties agree that this Agreement sets forth
the entire agreement between them and supersedes any other
written or oral understandings, with the exception of the
Confidentiality Agreement between Xxxx Xxxxx and the Company
dated as of November 15,1996 the terms of which are hereby
ratified and reaffirmed in all respects. No other promises or
agreements shall be binding unless reduced to writing and signed
by the parties. The parties further agree that if any provision
of this Agreement is held invalid for any reasons by a court or
other tribunal of competent jurisdiction, the remaining
provisions shall continue to be in full force and effect.
WHEREFORE, BS&S affirm that they have read and understand
this Agreement, and that they have been encouraged to consult
with an attorney or other personal advisor concerning this
Agreement. BS&S further affirm that they have entered into this
Agreement voluntarily and with full knowledge of its significance.
XXXXXXX & XXXXX LANCIT MEDIA ENTERTAINMENT, LTD.
(On behalf of itself
and Xxxx Xxxxx)
By: /s/ Xxxx Xxxxx By: /s/ Xxxx X. Xxxxxx
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Xxxx Xxxxx Xxxx X. Xxxxxx
General Partner Secretary/General Councel
5/19/97 5/20/97
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(Date) (Date)
50090.xxxxx.agt
