HSY » Topics » 5. General Release.

These excerpts taken from the HSY 8-K filed Jul 21, 2005.

5.   General Release.

        In exchange for the ERP Benefits, you agree to release and hereby do release the Company Releasees from all claims, demands, actions or liabilities you may have against the Company Releasees of whatever kind including, but not limited to, those that are related to your employment by the Company, the termination of that employment, and claims for attorneys’ fees.

        You agree that the release under this paragraph 5 (“General Release”) covers, but is not limited to, claims arising under the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Americans with Disabilities Act, the Rehabilitation Act of 1973 and any other federal, state or local law


dealing with discrimination in employment including, but not limited to, discrimination based on sex, sexual orientation, race, national origin, religion, disability, veteran status or age. You also agree that this General Release covers claims arising under the Family and Medical Leave Act of 1993 and any state or local law dealing with leave time or wages and hours of work. You also agree that this General Release covers claims existing before the date of this Agreement, whether known or unknown to you or to the Company Releasees, arising under the Employee Retirement Income Security Act of 1974, except for claims for benefits provided under this Agreement.

        This General Release covers both claims you know about and those you may not know about which accrued by the time you sign this General Release. In this regard, you agree to waive all rights that any state or local law may provide with respect to a general release of unknown claims.

        This paragraph applies to you if you are a California resident. You acknowledge that California Civil Code Section 1542 provides as follows:

  “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.”

Being fully informed of this provision of the Civil Code, you agree to waive any rights under that section and acknowledge that this General Release extends to all claims that have or might have against the Company Releasees.

        You agree and acknowledge that you are not entitled to receive, and the Company would not have granted you, the ERP Benefits without release of each and every claim covered by the General Release.

        You also agree never to sue the Company for any claim that you have waived or released in this Agreement, except that you are not waiving a good-faith challenge to the validity of this Agreement under the Age Discrimination in Employment Act. You agree to pay all costs, damages, expenses and attorneys’ fees incurred by any Company Releasees in successfully defending against any lawsuit or administrative proceeding you bring to contest the validity of this Agreement under the Age Discrimination in Employment Act.

        You agree that, if you file a lawsuit asserting any of the claims covered by the General Release, the Company will be entitled to reduce your ERP Benefits by the value of any judgment you obtain against any Company Releasees. You also agree that the appropriate amount of any such reduction in a lawsuit or administrative proceeding asserting any one or more of the claims covered by the General Release is the entire amount of ERP Benefits.

        If any government agency pursues a claim on your behalf against the Company, or on behalf of a group of individuals of which you are a part, you promise not to seek or accept any damages arising from or related to your employment by the Company or the termination of that employment.

5.   General Release.

        In exchange for the EMSP Benefits, you agree to release and hereby do release the Company Releasees from all claims, demands, actions or liabilities you may have against the Company Releasees of whatever kind including, but not limited to, those that are related to your employment by the Company, the termination of that employment, and claims for attorneys’ fees.

        You agree that the release under this paragraph 5 (“General Release”) covers, but is not limited to, claims arising under Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the Rehabilitation Act of 1973 and any other federal, state or local law dealing with discrimination in employment including, but not limited to, discrimination based on age, sex, sexual orientation, race, national origin, religion, disability or veteran status. You also agree that this General Release covers claims arising under the Family and Medical Leave Act of 1993 and any state or local law dealing with leave time or wages and hours of work. You also agree that this General Release covers claims existing before the date of this Agreement, whether known or unknown to you or to the Company Releasees, arising under the Employee Retirement Income Security Act of 1974, except for claims for benefits provided under this Agreement.

        This General Release covers both claims you know about and those you may not know about which accrued by the time you sign this General Release. In this regard, you agree to waive all rights that any state or local law may provide with respect to a general release of unknown claims.

        This paragraph applies to you if you are a California resident. You acknowledge that California Civil Code Section 1542 provides as follows:

  “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.”

Being fully informed of this provision of the Civil Code, you agree to waive any rights under that section and acknowledge that this General Release extends to all claims that you have or might have against the Company Releasees.

        You agree and acknowledge that you are not entitled to receive, and the Company would not have granted you, the EMSP Benefits without release of each and every claim covered by the General Release.

        You also agree never to sue the Company for any claim that you have waived or released in this Agreement, except that you are not waiving a good-faith challenge to the validity of this Agreement under the Age Discrimination in Employment Act. You agree to pay all costs, damages, expenses and attorneys’ fees incurred by any Company Releasees in successfully defending against any lawsuit or administrative proceeding you bring to contest the validity of this Agreement under the Age Discrimination in Employment Act.

        You agree that, if you file a lawsuit asserting any of the claims covered by the General Release, the Company will be entitled to reduce your EMSP Benefits by the value of any judgment you obtain against any Company Releasees. You also agree that the appropriate amount of any such reduction in a lawsuit or administrative proceeding asserting any one or more of the claims covered by the General Release is the entire amount of EMSP Benefits.

        If any government agency pursues a claim on your behalf against the Company, or on behalf of a group of individuals of which you are a part, you promise not to seek or accept any damages arising from or related to your employment by the Company or the termination of that employment.

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Jul 21, 2005
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki