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This excerpt taken from the FL 8-K filed Dec 28, 2005. Release. In consideration of the Company’s obligation to pay me $650,500 (the “Severance Payment”), as provided for in the letter agreement between me and the Company dated December __, 2005, and the provision of the benefits provided under Section 4 of the letter agreement (the “Section 4 Benefits”) during the Severance Period, I, for myself and for my heirs, executors, administrators, successors, and assigns, hereby agree to release and forever discharge the Company and its subsidiaries and affiliates, and their respective current and former officers, directors, employees, and agents, from any and all actions, causes of action, claims, demands, and liabilities of whatsoever nature arising out of, or in connection with, my employment with the Company and any of its subsidiaries and affiliates, or the termination of such employment, or
otherwise, whether arising before or after the date hereof. Notwithstanding the foregoing, nothing herein shall release the Company from its obligation to make the Severance Payment to me, or in the event of my death, to my estate, within 10 days of June 18, 2006. The foregoing shall include, but not be limited to, any claim of employment discrimination under the Age Discrimination in Employment Act of 1967, the New York State Human Rights Law, the Civil Rights Act of 1964 (“Title VII”), the Americans with Disabilities Act, or any other federal or state labor relations law, equal employment opportunity law, or civil rights law, regulation or order. I understand that the Severance Payment and the Section 4 Benefits are consideration to which I would not be entitled but for this General Release and Agreement.
I acknowledge that the Company has advised me, as required by federal law, to consult with an attorney of my choice (at my cost). In addition, I understand that federal law also provides that I have 21 days to consider this General Release and Agreement and that I may revoke it at any time within seven days after its execution. In addition, I hereby acknowledge that I have been given full opportunity to review this Release, including sufficient opportunity for appropriate review with any advisors selected by me. The foregoing shall not constitute a release of any claims that I may have against the Company for breach of the Company’s post-employment obligations under the Employment Agreement, the Indemnification Agreement between me and the Company dated November 18, 1996, the letter agreement, or any vested or accrued rights under the terms of the Retirement Plan, the Excess Cash Balance Plan, and the 401(k) Plan.
I understand and agree that the Severance Benefit, the Section 4 Benefits, and the other post-employment payments, if any, provided for in the Employment Agreement and the letter agreement shall be in lieu of any and all amounts that would be payable to me, and that no other amounts will be paid to me for any reason whatsoever.
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