Founder’s Release Clause Samples

Founder’s Release. In consideration of the promises made by the Company in this Agreement, the Founder, on his own behalf, and on behalf of his relatives and heirs, executors, administrators and assigns, irrevocably and unconditionally releases, waives, acquits, and forever discharges the Company, and its other current and former officers and directors and employees, and its agents, officials, representatives, attorneys, insurance carriers and any other entity related to or affiliated with them (collectively, the “Company Releasees”), of and from any and all manner of actions, suits, claims of any kind or nature whatsoever, known or unknown, in law or equity, that he has in the past or now has against the Company Releasees based solely on the Employment Agreement and termination of the Founder’s employment, as well as any claims arising from any alleged violation of any federal, state or local statutes or ordinances relating to his employment with the Company, including, but not limited to, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, ERISA, the Americans with Disabilities Act, the Florida Civil Rights Act, and any applicable municipal ordinance prohibiting employment discrimination, and any other employment discrimination laws, as well as any other similar claims based on constitutional, statutory, common law or regulatory grounds. Nothing in this Section 7 above is intended to waive or release any (A) claim of the Founder against the Company Releasees arising in the future, or for breach of this Agreement, (B) any rights of indemnification as a director, officer or employee that the Founder may have under the articles of incorporation, bylaws or written agreement between the Company and the Founder and under this Agreement, (C) any rights of Founder under the Company’s Executive Deferred Compensation Plan, or (D) any rights of Founder under the Company’s 401(k) plan or trust.