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AGREEMENT AND GENERAL RELEASE
THIS AGREEMENT AND GENERAL RELEASE is made and entered into by and between
Xxxx X. Xxxxxx of Milford, Connecticut (also referred to as "Employee") and
Xxxxxxx International Ltd. of Norwalk, Connecticut (also referred to as the
"Company").
W I T N E S S E T H :
WHEREAS, Employee has been employed by the Company; and
WHEREAS, Employee and the Company wish to resolve all matters relating to
their employment relationship; and
WHEREAS, Employee and the Company wish to resolve all claims or potential
claims between them.
NOW, THEREFORE, in consideration of the covenants and mutual promises
herein contained, it is agreed as follows:
1. Employee has decided to resign from his employment with the Company as
of August 31, 1998.
2. The Company agrees to continue Employee's current salary until November
30, 1998.
3. The Company agrees to pay for Employee's COBRA insurance continuation
costs until November 30, 1998.
4. Employee and the Company agree that the existence of and the terms of
the Settlement Agreement and General Release will not be disclosed except as
requested by law.
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5. The Company has advised Employee to discuss all aspects of this
Agreement and General Release with his attorney.
6. Employee represents that he has carefully read and fully understands
all of the provisions of this Agreement and General Release and that he has
voluntarily entered into this Agreement and General Release.
7. The Company and Employee agree that by entering into this Agreement and
General Release that neither admits any wrongful act.
8. As a material inducement to the Company to enter into this Agreement
and General Release, Employee irrevocably and unconditionally releases and
acquits and forever discharges the Company's officers, directors, employees and
agents from any and all charges, complaints, contracts and causes of action of
any nature whatsoever, known or unknown, including but not limited to any rights
under federal, state or local laws including the Age Discrimination in
Employment Act, The Connecticut Fair Employment Practices Act, Title VII of the
Civil Rights Act any express or implied contract claims, claims of wrongful
discharge or any other claim which could arise from Employee's employment and
its termination.
9. Employee understands that he has up to twenty-one (21) days to consider
this Agreement and understands that he has a
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seven (7) day period after execution to revoke this Agreement and waiver of
claims.
10. This Agreement and General Release sets forth the entire agreement
between the parties hereto, and fully supersedes any and all prior agreements or
understandings between the parties hereto pertaining to the subject matter
hereof.
PLEASE READ CAREFULLY. THIS AGREEMENT AND GENERAL RELEASE INCLUDES A
RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.
Executed at Milford, Connecticut, this 20th day of September, 1998.
By: /s/ Xxxx X. Xxxxxx
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Xxxx X. Xxxxxx
Executed at Norwich, Connecticut, this 8th day of October , 1998.
XXXXXXX INTERNATIONAL LTD.
By: /s/ Xxxxx X. Xxxxxxx
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Xxxxx X. Xxxxxxx
Its President
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