PLASTINUM POLYMER TECHNOLOGIES CORP. EMPLOYMENT AGREEMENT
THIS
AGREEMENT is made January 3, 2008 between Plastinum Polymer Technologies Corp.
(the "Company"),
and
Xxxx Xxxxxx ("Employee").
In
consideration of the mutual covenants contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
1. Employment.
The
Company shall employ Employee, and Employee hereby accepts employment with
the
Company, upon the terms and conditions set forth in this Agreement for the
period beginning on January 7, 2008 and ending as provided in Section
4 hereof
(the "Employment
Period").
2. Position
and Duties.
(a) During
the Employment Period, Employee shall serve as the Chief Operating Officer
of
the Company and shall have the duties, responsibilities and functions as set
forth by the Company's Chief Executive Officer.
(b) During
the Employment Period, Employee shall report to the Company's Chief Executive
Officer or other such person as the Chief Executive Officer may elect and shall
devote Employee's best efforts to the business and affairs of the Company and
its Subsidiaries. Employee shall perform Employee's duties, responsibilities
and
functions to the Company and its Subsidiaries hereunder to the best of
Employee's abilities in a diligent, trustworthy, professional and efficient
manner and shall comply with the Company's and its Subsidiaries' policies and
procedures in all material respects.
(c) For
purposes of this Agreement, "Subsidiaries"
shall
mean any corporation or other entity of which the securities or other ownership
interests having the voting power to elect a majority of the board of directors
or other governing body are, at the time of determination, owned by the Company,
directly or through one of more Subsidiaries.
3. Compensation
and Benefits.
(a) During
the Employment Period, Employee's base salary shall be €115.200,= (9000*12,8)
per annum or such higher rate as the Chief Executive Officer may determine
from
time to time (as adjusted from time to time, the "Base
Salary"),
which
salary shall be payable by the Company in regular installments in accordance
with the Company's general payroll practices (in effect from time to time).
In
addition, during the Employment Period, Employee shall be entitled to
participate in all of the Company's employee benefit programs for which
employees of the Company and its Subsidiaries are generally eligible including
Medical and Dental Insurance, and Employee shall be entitled to five weeks
of
paid vacation each calendar year. The salary is inclusive of a holiday allowance
of 8%.
(b) When
new
funds have been raised for the Company in excess of $1,000,000 and providing
that the Employee is properly performing his duties and functions for the
Company, the base salary provided for in Section 3(a) will increase to
€163.200,= (12.750,= * 12,8) after six months, therefore from 1 July 2008.
Additionally Employee will receive €1500,= per month for pension purposes.
(c) During
the Employment Period, the Company shall reimburse Employee for all reasonable
business expenses incurred by Employee in the course of performing Employee's
duties and responsibilities under this Agreement which are consistent with
the
Company's policies in effect from time to time with respect to travel,
entertainment and other business expenses, subject to the Company's requirements
with respect to reporting and documentation of such expenses. Employee will
receive € 1350,= per month for car expenses as well as € 0,19 per km of business
related driving. All mobile phone charges will be covered by the
Company.
(d) Depending
on the business results of the Company and the Employee’s performance, as well
as the achievement of specific milestones and other relevant circumstances,
the
Company may appoint a bonus to the Employee to be paid, in December of the
year
in question, ranging from 25% of the salary specified in article 3.a for on
target performance, to a maximum of 75% for outstanding performance. The exact
bonus target and bonus plan for each year will be set in advance by the CEO,
ultimately on 31 October of the preceding year.
(e) There
will be no bonus paid over the first six months of employment, therefore the
possible bonus over 2008 will be pro rata and will be set ultimately on 30
April
2008.
(f) All
amounts payable to Employee as compensation pursuant to this Agreement shall
be
subject to all required withholding by the Company.
4. Term.
(a) The
Employment Period shall begin on January 7, 2008 and shall end as specified
in a
written notice thereof from one party to the other, which notice may be given
at
any time, without or without cause or good reason and for any or no reason;
provided
that the
Employment Period shall terminate immediately upon Employee's resignation,
death
or Disability. The
Employee acknowledges that nothing in this Agreement shall confer any right
with
respect to continuation of employment by the Company nor shall it interfere
in
any way with the right of either party to terminate the Employee’s employment at
any time, with or without cause.
(b) Notwithstanding
the foregoing Section 4(a), if the Employment Period is terminated by the
Company or its successors in interest without Cause, Employee shall be entitled
to receive three (3) months of salary continuation ("Salary
Continuation Period")
of
Employee's Base Salary, (ii) the benefit of employee benefit programs for the
Salary Continuation Period, (iii) the cash value of any accrued but unused
vacation days as of the date of Employee's termination, in
each case, if and only if
Employee
has executed and delivered to the Company the General Release substantially
in
form and substance as set forth in Exhibit A
attached
hereto and only so long as Employee has not breached the provisions of
Sections
5,
6
and
7
hereof.
Employee shall not be entitled to any other salary, compensation or benefits
after termination of the Employment Period, except as specifically provided
for
in the Company's employee benefit plans or as otherwise expressly required
by
applicable law. The employee's entitlement to Salary Continuation shall cease
at
the earlier of three (3) months or the date on which Employee is rehired by
the
Company at his previous rate of pay or finds employment with another employer
at
at least 75% of his most recent base salary with the Company. In no case shall
the Salary Continuation Period be less than two weeks.
(c) If
the
Employment Period is terminated by the Company for Cause or is terminated
pursuant to clause (a)(i) above, Employee shall only be entitled to receive
Employee's Base Salary through the date of termination or expiration and shall
not be entitled to any other salary, compensation or benefits from the Company
or its Subsidiaries thereafter, except as otherwise specifically provided for
under the Company's employee benefit plans or as otherwise expressly required
by
applicable law.
(d) Except
as
otherwise expressly provided herein, all of Employee's rights to salary,
bonuses, employee benefits and other compensation hereunder which would have
accrued or become payable after the termination or expiration of the Employment
Period shall cease upon such termination or expiration, other than those
expressly required under applicable law. The Company may offset any amounts
Employee owes it or its Subsidiaries against any amounts it or its Subsidiaries
owes Employee hereunder.
(e) For
purposes of this Agreement, "Cause"
shall
mean (i) the commission of a felony or any other act or omission involving
dishonesty, material disloyalty or fraud with respect to the Company or any
of
its Subsidiaries or any of their customers or suppliers, (ii) reporting to
work
under the influence of alcohol or illegal drugs, the use of illegal drugs
(whether or not at the workplace) or repeated conduct causing the Company or
any
of its Subsidiaries substantial public disgrace or disrepute or economic harm,
(iii) substantial and repeated failure to perform duties as reasonably directed
by the Company's Chief Executive Officer which
is
not cured to the reasonable satisfaction of the Company's Chief Executive
Officer within
30
days after written notice thereof to Employee, (iv) breach of fiduciary duty,
gross negligence or willful misconduct with respect to the Company or any of
its
Subsidiaries or (v) any other material breach of this Agreement which is not
cured to the reasonable satisfaction of the Company's Chief Executive
Officer within
30
days after written notice thereof to Employee.
(f) For
purposes of this Agreement, "Disability"
shall
mean Employee's inability to perform the essential duties, responsibilities
and
functions of Employee's position with the Company and its Subsidiaries, due
to
illness, accident, injury, physical or mental incapacity or other disability,
for 90 consecutive days or 180 days in any twelve-month period, as determined
by
the Board of Directors of the Company.
5. Confidential
Information.
(a) Obligation
to Maintain Confidentiality.
Employee acknowledges that the continued success of the Company and its
Subsidiaries depends upon the use and protection of a large body of confidential
and proprietary information. All of such confidential and proprietary
information now existing or to be developed in the future will be referred
to in
this Agreement as "Confidential
Information."
Confidential Information will be interpreted as broadly as possible to include
all information of any sort (whether merely remembered or embodied in a tangible
or intangible form) that is (i) related to the Company's or its
Subsidiaries' current or potential business and (ii) is not generally or
publicly known. Confidential Information includes, without specific limitation,
the information, observations and data obtained by Employee during the course
of
Employee's performance under this Agreement concerning the business and affairs
of the Company and its Subsidiaries, information concerning acquisition
opportunities in or reasonably related to the Company's or its Subsidiaries'
business or industry of which Employee becomes aware during the Employment
Period, the persons or entities that are current, former or prospective
suppliers or customers of any one or more of such suppliers during Employee's
course of performance under this Agreement, as well as development, transition
and transformation plans, trade secrets, know how and inventions, methodologies
and methods of doing business, strategic, marketing and expansion plans,
including plans regarding planned and potential sales, financial and business
plans, employee lists and telephone numbers, locations of sales representatives,
new and existing programs and services, prices and terms, customer service,
integration processes, requirements and costs of providing service, support
and
equipment. Therefore, Employee agrees that Employee shall not disclose to any
unauthorized person or use for Employee's own account any of such Confidential
Information without the prior written consent of the Board of Directors of
the
Company, unless and to the extent that any Confidential Information
(i) becomes generally known to and available for use by the public other
than as a result of Employee's acts or omissions to act or (ii) is required
to be disclosed pursuant to any applicable law or court order. Employee agrees
to deliver to the Company at the end of the Employment Period, or at any other
time the Company may request in writing, all memoranda, notes, plans, records,
reports and other documents (and copies thereof) relating to the business of
the
Company or its Subsidiaries (including, without limitation, all Confidential
Information) that Employee may then possess or have under Employee's
control.
(b) Third
Party Information.
Employee understands that the Company and its Subsidiaries will receive from
third parties confidential or proprietary information ("Third
Party Information")
subject to a duty on the Company's and its Subsidiaries' part to maintain the
confidentiality of such information and to use it only for certain limited
purposes. During the Employment Period and thereafter, and without in any way
limiting the provisions of Section_(a)
above,
Employee will hold Third Party Information in the strictest confidence and
will
not disclose to anyone (other than personnel of the Company or its Subsidiaries
who need to know such information in connection with their work for the Company
or such Subsidiaries) or use, except in connection with Employee's work for
the
Company or its Subsidiaries, Third Party Information unless expressly authorized
by a member of the Board of Directors of the Company in writing.
6. Ownership
of Intellectual Property.
Employee agrees to make prompt and full disclosure to the Company or its
Subsidiaries, as the case may be, all ideas, discoveries, trade secrets,
inventions, innovations, improvements, developments, methods of doing business,
processes, programs, designs, analyses, drawings, reports, data, software,
firmware, logos and all similar or related information (whether or not
patentable and whether or not reduced to practice) that relate to the Company's
or its Subsidiaries' actual or anticipated business, research and development,
or existing or future products or services relating to rechargeable
electrochemical cells and/or batteries of any kind or nature and that are
conceived, developed, acquired, contributed to, made, or reduced to practice
by
Employee (either solely or jointly with others) while employed by the Company
or
its Subsidiaries and for a period of one (1) year thereafter (collectively,
"Work
Product").
Any
copyrightable work falling within the definition of Work Product shall be deemed
a "work made for hire" under the copyright laws of the United States, and
ownership of all rights therein shall vest in the Company or its Subsidiary.
To
the extent that any Work Product is not deemed to be a "work made for hire,"
Employee hereby assigns and agrees to assign to the Company or such Subsidiary
all right, title and interest, including without limitation, the intellectual
property rights that Employee may have in and to such Work Product. Employee
shall promptly perform all actions reasonably requested by the Board of
Directors of the Company (whether during or after the Employment Period) to
establish and confirm the Company's or such Subsidiary's ownership (including,
without limitation, providing testimony and executing assignments, consents,
powers of attorney, and other instruments).
7. Non-Compete,
Non-Solicitation.
In
further consideration of the compensation to be paid to Employee hereunder,
Employee acknowledges that during the course of Employee's employment with
the
Company and its Subsidiaries, Employee shall become familiar (and Employee
has
become familiar during Employee's employment by the Company prior to the date
of
this Agreement) with the Company's trade secrets and with other Confidential
Information concerning the Company and its Subsidiaries and that Employee's
services have been and shall be of special, unique and extraordinary value
to
the Company and its Subsidiaries, and therefore, Employee agrees that, during
the Employment Period and for twelve months thereafter (the "Non-compete
Period"),
Employee shall not directly or indirectly through another person or entity
(i)
induce or attempt to induce any employee of the Company or any Subsidiary to
leave the employ of the Company or such Subsidiary, or in any way interfere
with
the relationship between the Company or any Subsidiary and any employee thereof,
(ii) hire any person who was an employee of the Company or any Subsidiary at
any
time during the Employment Period or (iii) induce or attempt to induce any
customer, supplier, licensee, licensor, franchisee or other business relation
of
the Company or any Subsidiary to cease doing business with the Company or such
Subsidiary, or in any way interfere with the relationship between any such
customer, supplier, licensee or business relation and the Company or any
Subsidiary (including, without limitation, making any negative or disparaging
statements or communications regarding the Company or its
Subsidiaries).
8. Enforcement.
If, at
the time of enforcement of Section
5,
6
or
7
of this
Agreement, a court holds that the restrictions stated herein are unreasonable
under circumstances then existing, the parties hereto agree that the maximum
period, scope or geographical area reasonable under such circumstances shall
be
substituted for the stated period, scope or area. Because Employee's services
are unique and because Employee has access to Confidential Information and
Work
Product, the parties hereto agree that money damages would not be an adequate
remedy for any breach of this Agreement. Therefore, in the event of a breach
or
threatened breach of this Agreement, the Company or its successors or assigns,
in addition to other rights and remedies existing in their favor, shall be
entitled to specific performance and/or injunctive or other equitable relief
from a court of competent jurisdiction in order to enforce, or prevent any
violations of, the provisions hereof (without posting a bond or other security).
In addition, in the event of an alleged breach or violation by Employee of
Section
7,
the
Non-compete Period shall be tolled until such breach or violation has been
duly
cured. Employee acknowledges that the restrictions contained in Section
7
are
reasonable and that Employee has reviewed the provisions of this Agreement
with
Employee's legal counsel.
9. Employee's
Representations.
Employee hereby represents and warrants to the Company that (i) the execution,
delivery and performance of this Agreement by Employee do not and shall not
conflict with, breach, violate or cause a default under any contract, agreement,
instrument, order, judgment or decree to which Employee is a party or by which
Employee is bound, (ii) Employee is not a party to or bound by any employment
agreement, Non-compete agreement or confidentiality agreement with any other
person or entity and (iii) upon the execution and delivery of this Agreement
by
the Company, this Agreement shall be the valid and binding obligation of
Employee, enforceable in accordance with its terms. Employee hereby acknowledges
and represents that Employee has consulted with independent legal counsel
regarding Employee's rights and obligations under this Agreement and that
Employee fully understands the terms and conditions contained
herein.
10. Survival.
Sections
4
through
19
shall
survive and continue in full force in accordance with their terms
notwithstanding the expiration or termination of the Employment
Period.
11. Notices.
Any
notice provided for in this Agreement shall be in writing and shall be either
personally delivered, sent by reputable overnight courier service or mailed
by
first class mail, return receipt requested, to the recipient at the address
below indicated:
Notices
to Employee:
Xx.
Xxxx
Xxxxxx
_______________________________
_______________________________
Notices
to the Company:
_______________________________
_______________________________
Attention:
Jacques Mot
or
such
other address or to the attention of such other person as the recipient party
shall have specified by prior written notice to the sending party. Any notice
under this Agreement shall be deemed to have been given when so delivered,
sent
or mailed.
12. Severability.
Whenever possible, each provision of this Agreement shall be interpreted in
such
manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid, illegal or unenforceable in any respect
under any applicable law or rule in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other provision of this
Agreement or any action in any other jurisdiction, but this Agreement shall
be
reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provision had never been contained herein.
13. Complete
Agreement.
This
Agreement, those documents expressly referred to herein and other documents
of
even date herewith embody the complete agreement and understanding among the
parties and supersede and preempt any prior understandings, agreements or
representations by or among the parties, written or oral, which may have related
to the subject matter hereof in any way (including,
without limitation, any previous offer letter or employment agreement between
Employee and the Company) other than with respect to any breaches of such
agreements by Employee prior to the date hereof.
14. No
Strict Construction.
The
language used in this Agreement shall be deemed to be the language chosen by
the
parties hereto to express their mutual intent, and no rule of strict
construction shall be applied against any party.
15. Counterparts.
This
Agreement may be executed in separate counterparts, each of which is deemed
to
be an original and all of which taken together constitute one and the same
agreement.
16. Successors
and Assigns.
This
Agreement is intended to bind and inure to the benefit of and be enforceable
by
Employee, the Company and their respective heirs, successors and assigns, except
that Employee may not assign Employee's rights or delegate Employee's duties
or
obligations hereunder without the prior written consent of the
Company.
17. Choice
of Law.
All
issues and questions concerning the construction, validity, enforcement and
interpretation of this Agreement and the exhibits and schedules hereto shall
be
governed by, and construed in accordance with, the laws of the State of New
York, without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of New York or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than the
State
of New York.
18. Amendment
and Waiver.
The
provisions of this Agreement may be amended or waived only with the prior
written consent of the Company and Employee, and no course of conduct or course
of dealing or failure or delay by any party hereto in enforcing or exercising
any of the provisions of this Agreement (including, without limitation, the
Company's right to terminate the Employment Period for Cause) shall affect
the
validity, binding effect or enforceability of this Agreement or be deemed to
be
an implied waiver of any provision of this Agreement.
IN
WITNESS WHEREOF, the parties hereto have executed this Employment Agreement
as
of the date first written above.
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By
/s/
Jacques
Mot
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Name:
Jacques Mot
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Its
Chief Executive Officer
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/s/Xxxx
Xxxxxx
Xxxx
Xxxxxx
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Exhibit
A
GENERAL
RELEASE
I,
Xxxxx
Xxxxxx, in consideration of and subject to the performance by Plastinum Polymer
Technologies Corp. (together with its subsidiaries, the "Company"),
of
its material obligations under the Employment Agreement, dated December 6,
2007,
(the "Agreement"),
do
hereby release and forever discharge as of the date hereof the Company and
all
present and former directors, officers, agents, representatives, employees,
successors and assigns of the Company and its direct or indirect owners
(collectively, the "Released
Parties")
to the
extent provided below.
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1.
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I
understand that any payments or benefits paid or granted to me under
Section
4(b)
of
the Agreement represent, in part, consideration for signing this
General
Release and are not salary, wages or benefits to which I was already
entitled. I understand and agree that I shall not receive the payments
and
benefits specified in Section
4(b)
of
the Agreement unless I execute this General Release and do not revoke
this
General Release within the time period permitted hereafter or breach
this
General Release.
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2.
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Except
as provided in Section
4
below, I knowingly and voluntarily release and forever discharge
the
Company and the other Released Parties from any and all claims,
controversies, actions, causes of action, cross-claims, counter-claims,
demands, debts, compensatory damages, liquidated damages, punitive
or
exemplary damages, other damages, claims for costs and attorneys'
fees, or
liabilities of any nature whatsoever in law and in equity, both past
and
present (through the date of this General Release) and whether known
or
unknown, suspected, or claimed against the Company or any of the
Released
Parties which I, my spouse, or any of my heirs, executors, administrators
or assigns, may have, which arise out of or are connected with my
employment with, or my separation from, the Company (including, but
not
limited to, any allegation, claim or violation, arising under: Title
VII
of the Civil Rights Act of 1964, as amended; the Civil Rights Act
of 1991;
the Age Discrimination in Employment Act of 1967, as amended (including
the Older Workers Benefit Protection Act); the Equal Pay Act of 1963,
as
amended; the Americans with Disabilities Act of 1990; the Family
and
Medical Leave Act of 1993; the Civil Rights Act of 1866, as amended;
the
Worker Adjustment Retraining and Notification Act; the Employee Retirement
Income Security Act of 1974; any applicable Employee Order Programs;
the
Fair Labor Standards Act; or their state or local counterparts; or
under
any other federal, state or local civil or human rights law, or under
any
other local, state, or federal law, regulation or ordinance; or under
any
public policy, contract or tort, or under common law; or arising
under any
policies, practices or procedures of the Company; or any claim for
wrongful discharge, breach of contract, infliction of emotional distress,
defamation; or any claim for costs, fees, or other expenses, including
attorneys' fees incurred in these matters) (all of the foregoing
collectively referred to herein as the "Claims").
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3.
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I
represent that I have made no assignment or transfer of any right,
claim,
demand, cause of action, or other matter covered by Section
2
above.
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4.
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I
agree that this General Release does not waive or release any rights
or
claims that I may have under the Age Discrimination in Employment
Act of
1967 which arise after the date I execute this General Release. I
acknowledge and agree that my separation from employment with the
Company
in compliance with the terms of the Agreement shall not serve as
the basis
for any claim or action (including, without limitation, any claim
under
the Age Discrimination in Employment Act of
1967).
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5.
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In
signing this General Release, I acknowledge and intend that it shall
be
effective as a bar to each and every one of the Claims hereinabove
mentioned or implied. I expressly consent that this General Release
shall
be given full force and effect according to each and all of its express
terms and provisions, including those relating to unknown and unsuspected
Claims (notwithstanding any state statute that expressly limits the
effectiveness of a general release of unknown, unsuspected and
unanticipated Claims), if any, as well as those relating to any other
Claims hereinabove mentioned or implied. I acknowledge and agree
that this
waiver is an essential and material term of this General Release
and that
without such waiver the Company would not have agreed to the terms
of the
Agreement. I further agree that in the event I should bring a Claim
seeking damages against the Company, or in the event I should seek
to
recover against the Company in any Claim brought by a governmental
agency
on my behalf, this General Release shall serve as a complete defense
to
such Claims. I further agree that I am not aware of any pending charge
or
complaint of the type described in Section
2
as
of the execution of this General
Release.
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6.
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I
agree that neither this General Release, nor the furnishing of the
consideration for this General Release, shall be deemed or construed
at
any time to be an admission by the Company, any Released Party or
myself
of any improper or unlawful
conduct.
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7.
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I
agree that I will forfeit all amounts payable by the Company pursuant
to
the Agreement if I challenge the validity of this General Release.
I also
agree that if I violate this General Release by suing the Company
or the
other Released Parties, I will pay all costs and expenses of defending
against the suit incurred by the Released Parties, including reasonable
attorneys' fees, and return all payments received by me pursuant
to the
Agreement.
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8.
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I
agree that this General Release is confidential and agree not to
disclose
any information regarding the terms of this General Release, except
to my
immediate family and any tax, legal or other counsel I have consulted
regarding the meaning or effect hereof or as required by law, and
I will
instruct each of the foregoing not to disclose the same to
anyone.
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9.
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Any
non-disclosure provision in this General Release does not prohibit
or
restrict me (or my attorney) from responding to any inquiry about
this
General Release or its underlying facts and circumstances by the
Securities and Exchange Commission (SEC), the Financial
Industry Regulatory Authority (FINRA),
any other self-regulatory organization or governmental
entity.
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10.
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I
agree to reasonably cooperate with the Company in any internal
investigation or administrative, regulatory, or judicial proceeding.
I
understand and agree that my cooperation may include, but not be
limited
to, making myself available to the Company upon reasonable notice
for
interviews and factual investigations; appearing at the Company's
request
to give testimony without requiring service of a subpoena or other
legal
process; volunteering to the Company pertinent information; and turning
over to the Company all relevant documents which are or may come
into my
possession all at times and on schedules that are reasonably consistent
with my other permitted activities and commitments. I understand
that in
the event the Company asks for my cooperation in accordance with
this
provision, the Company will reimburse me for reasonable travel expenses,
including lodging and meals, upon my submission of receipts and a
reasonable per diem fee in such amount as determined by the board
of
directors of the Company.
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11.
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Notwithstanding
anything in this General Release to the contrary, this General Release
shall not relinquish, diminish, or in any way affect any rights or
claims
arising out of any breach by the Company or by any Released Party
of the
Agreement.
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12.
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Whenever
possible, each provision of this General Release shall be interpreted
in,
such manner as to be effective and valid under applicable law, but
if any
provision of this General Release is held to be invalid, illegal
or
unenforceable in any respect under any applicable law or rule in
any
jurisdiction, such invalidity, illegality or unenforceability shall
not
affect any other provision or any other jurisdiction, but this General
Release shall be reformed, construed and enforced in such jurisdiction
as
if such invalid, illegal or unenforceable provision had never been
contained herein.
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BY
SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT:
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(a)
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I
HAVE READ IT CAREFULLY;
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(b)
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I
UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS,
INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION
IN
EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS
ACT OF
1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH
DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT
OF 1974, AS AMENDED;
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(c)
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I
VOLUNTARILY CONSENT TO EVERYTHING IN
IT;
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(d)
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I
HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT
AND I
HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION I HAVE CHOSEN
NOT
TO DO SO OF MY OWN VOLITION;
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(e)
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I
HAVE HAD AT LEAST 21 DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE
SUBSTANTIALLY IN ITS FINAL FORM ON _______________ __, _____ TO CONSIDER
IT AND THE CHANGES MADE SINCE THE _______________ __, _____ VERSION
OF
THIS RELEASE ARE NOT MATERIAL AND WILL NOT RESTART THE REQUIRED 21-DAY
PERIOD;
|
|
(f)
|
THE
CHANGES TO THE AGREEMENT SINCE _______________ ___, _____ EITHER
ARE NOT
MATERIAL OR WERE MADE AT MY
REQUEST.
|
|
(g)
|
I
UNDERSTAND THAT I HAVE SEVEN DAYS AFTER THE EXECUTION OF THIS RELEASE
TO
REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE
UNTIL THE REVOCATION PERIOD HAS
EXPIRED;
|
|
(h)
|
I
HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH
THE
ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT;
AND
|
|
(i)
|
I
AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED,
WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED
BY
AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY
ME.
|
| DATE: _____________ | ___________________________________ |
| Xxxx Xxxxxx |
