Common use of Termination of Employment Agreements Clause in Contracts

Termination of Employment Agreements. The parties hereby agree that any and all prior employment agreements between Executive and the Company are hereby terminated as of the date hereof, and any and all such agreements shall be of no further force and effect from and after the date hereof and the parties shall be released from any further obligations thereunder. The foregoing, however, shall not be deemed to abrogate or otherwise affect any of Executive’s obligations under the Company’s Code of Conduct as heretofore or hereafter in effect or any other restrictive covenant binding upon Executive.

Termination of Employment Agreements. The Effective as of the Effective Date, the parties hereby agree that any and all prior agreements relating to employment agreements between Executive, on the one hand, and Surge, the Company or any other affiliate of the Company, on the other hand (including, without limitation, that certain Employment Agreement dated April 1, 2007, by and between Executive and the Company Surge, as amended) are hereby terminated as of the date hereof, and any and all such agreements shall be of no further force or effect, and effect from and after the date hereof and the parties no party shall be released from have any further obligations thereunder. The foregoingrights, however, shall not be deemed to abrogate duties or otherwise affect any of Executive’s obligations under the Company’s Code of Conduct as heretofore or hereafter in effect or any other restrictive covenant binding upon Executivesuch agreements relating to employment.