Common use of Termination of Prior Relationships Clause in Contracts

Termination of Prior Relationships. Employee acknowledges and agrees that except for: (i) his right under any indemnity agreement or indemnity obligation now existing; and (ii) the rights of Employee expressly set forth in this Agreement and the High River Agreement, Employee has no other contracts, agreements, rights, partnership or membership interests, profit rights or participations, or claims, against or relating to, any of the Employer or the Existing Funds of any kind or character, direct or indirect and any and all such contracts, agreements, rights, partnership or membership interests, profit rights or participations, and claims, if any, are hereby terminated, waived and released in all respect and are and shall be null and void and have no force or effect. In particular, Employee is not entitled to any past or future base salary or bonus, and is not entitled to receive any salary or bonus in respect of the services he is to provide hereunder or any other payment or compensation, other than as expressly set forth in: (a) Section 4(i) of this Agreement (including Schedule III attached hereto); and (b) Section 5 of each of this Agreement and the High River Agreement.