Common use of Release by the Company Clause in Contracts

Release by the Company. The Company releases and forever discharges you from any and all Claims which relate in any way to your employment with the Company or the termination of that employment; which were Known to the Company prior to the date this letter agreement becomes effective and enforceable. For purposes of this paragraph, “Known to the Company” means the actual knowledge of the members of the Company’s Board of Directors and the Company’s three most highly paid executive officers. In signing this Release the Company acknowledges that the Company intends that this Release shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. The Company expressly consents that this letter agreement 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. The Company acknowledges and agrees that this waiver is an essential and material term of this letter agreement and without such waiver the Executive would not have entered into this letter agreement. The Company further agrees that in the event the Company brings its own Claim in which the Company seeks damages against you, or in the event the Company seeks to recover against you in any Claim brought by a governmental agency on the Company’s behalf, this release shall serve as a complete defense to such Claims.

Appears in 6 contracts

Samples: Employment Agreement (TSM Acquisition Co), Employment Agreement (Ashi Inc), Employment Agreement (Ashi Inc)

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Release by the Company. The Company releases and forever discharges you from any and all Claims which relate in any way to your employment with the Company or the termination of that employment; which were Known to the Company prior to the date this letter agreement becomes effective and enforceable. For purposes of this paragraph, “Known to the Company” means the actual knowledge of the members of the Company’s Board of Directors and the Company’s three most highly paid executive officersDirectors. In signing this Release the Company acknowledges that the Company intends that this Release shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. The Company expressly consents that this letter agreement 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. The Company acknowledges and agrees that this waiver is an essential and material term of this letter agreement and without such waiver the Executive would not have entered into this letter agreement. The Company further agrees that in the event the Company brings its own Claim in which the Company seeks damages against you, or in the event the Company seeks to recover against you in any Claim brought by a governmental agency on the Company’s behalf, this release shall serve as a complete defense to such Claims.

Appears in 2 contracts

Samples: Employment Agreement (Broder Bros Co), Employment Agreement (TSM Acquisition Co)

Release by the Company. The Company releases and forever discharges you from any and all Claims which relate in any way to your employment with the Company or the termination of that employment; which were Known to the Company prior to the date this letter agreement becomes effective and enforceable. For purposes of this paragraph, “Known to the Company” means the actual knowledge of the members of the Company’s Board of Directors and the Company’s three most highly paid executive officers, but in no event shall the definition of “Known to the Company” include your actual knowledge. In signing this Release the Company acknowledges that the Company intends that this Release shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. The Company expressly consents that this letter agreement 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. The Company acknowledges and agrees that this waiver is an essential and material term of this letter agreement and without such waiver the Executive would not have entered into this letter agreement. The Company further agrees that in the event the Company brings its own Claim in which the Company seeks damages against you, or in the event the Company seeks to recover against you in any Claim brought by a governmental agency on the Company’s behalf, this release shall serve as a complete defense to such Claims.

Appears in 1 contract

Samples: Employment Agreement (Broder Bros Co)

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Release by the Company. The Company hereby releases each Executive, his heirs and forever discharges you administrators from any and all Claims which relate actions, causes of action, claims, demands, damages, rights, remedies and liabilities the Company may have against such Executive arising in connection with the repurchase by the Company of shares of Common Stock held by such Executive during the period commencing on January 1, 2000 and ending on August 30, 2000, but specifically excluding any action, cause of action, claim, demand, damage, right, remedy and liability (i) arising after the date hereof, (ii) arising under the Assignments or (iii) arising under this Agreement or any of the Concurrent Agreements (collectively, but specifically excluding the matters described in clauses (i) through (iii), the "Executive Released Claims"). To the fullest extent permitted by law, the Company represents, warrants and agrees effective on the date hereof that (i) it has not lodged and will not, directly or indirectly, lodge any formal or informal complaint in any way to your employment with the Company forum in any jurisdiction arising out of or the termination of that employment; which were Known related to the Company prior to the date this letter agreement becomes effective Executive Released Claim, and enforceable. For purposes of this paragraph, “Known to the Company” means the actual knowledge (ii) it has not and will not assign any of the members of the Company’s Board of Directors and the Company’s three most highly paid executive officers. In signing this Release the Company acknowledges that the Company intends that this Release shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. The Company expressly consents that this letter agreement 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 Executive Released Claim to any other Claims hereinabove mentioned or impliedPerson. The Company acknowledges and agrees that this waiver is an essential and material term To the fullest extent permitted by law, execution of this letter agreement and without such waiver the Executive would not have entered into this letter agreement. The Company further agrees that in the event Agreement by the Company brings its own Claim in which the Company seeks damages against you, or in the event the Company seeks to recover against you in any Claim brought by a governmental agency on the Company’s behalf, this release shall serve operates as a complete bar and defense against any Executive Released Claim against each Executive. If the Company should hereafter make any Executive Released Claim in any proceeding against any Executive, this Agreement may be raised as and shall constitute a complete bar to any such Claimsproceeding, and each Executive, shall be entitled to and shall recover from the Company all costs incurred, including attorneys' fees, in defending against any such proceeding.

Appears in 1 contract

Samples: Separation and Release Agreement (Elektryon)

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