HD » Topics » NOW, THEREFORE

This excerpt taken from the HD 8-K filed May 28, 2008.
NOW, THEREFORE, Executive agrees as follows:

 

1.             Release of Claims. Executive and his heirs, assigns, and agents release, waive and discharge Company and its past and present directors, officers, employees, parents, subsidiaries, affiliates, related entities, and agents from each and every claim, action or right of any sort, known or unknown, arising on or before the Termination Date.

 

 

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(a)          The foregoing release includes, but is not limited to, any claim of discrimination on the basis of race, sex, religion, sexual orientation, national origin, disability, age, or citizenship status; any other claim based on any local, state, or federal prohibition, including but not limited to claims under Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act of 1967, as amended (“ADEA”), or the Americans With Disabilities Act; any claim arising out of or related to any alleged express or implied employment contract, any other alleged contract affecting terms and conditions of employment, or an alleged covenant of good faith and fair dealing; or any claim for severance pay, bonus, salary, sick leave, stocks, attorneys’ fees, holiday pay, vacation pay, life insurance, health or medical insurance or any other employee or fringe benefit, workers’ compensation or disability.

 

(b)         Executive represents that he understands the foregoing release, that rights and claims under ADEA are among the rights and claims against Company that he is releasing, and that he understands that he is not presently releasing any future rights or claims that might arise after the Termination Date.

 

(c)          Executive further agrees never to sue Company or its past and present directors, officers, employees, parents, subsidiaries, affiliates, related entities, and agents or cause Company or its past and present directors, officers, employees, parents, subsidiaries, affiliates, related entities, and agents to be sued regarding any matter within the scope of the above release. If Executive violates this Paragraph 1, Company may recover all damages as allowed by law, including all costs and expenses, including reasonable attorneys’ fees, incurred in defending against the suit.

 

(e)          Nothing herein is intended to or shall in any manner release, diminish or impair Executive’s rights under the Agreement, and rights, if any, that Executive may have to: (i) indemnification or advancement of expenses under Company’s certificate of incorporation or bylaws, or Delaware law, and (ii) coverage under directors’ and officers’ liability insurance maintained by Company or its affiliates.

 

2.             Executive may revoke this Release of Claims in writing within seven (7) days of signing it by sending written notice of revocation to Company’s Executive Vice President, Human Resources.  This Release of Claims will not take effect until eighth day after it is delivered to Company, and only if the release is not revoked by Executive during the revocation period.

 

3.             Executive represents and warrants that, as of the date of this Release of Claims, he has not assigned or transferred, or purported to assign or transfer, to any person, firm, corporation, association or entity whatsoever any released claim.  Executive hereby agrees to indemnify and hold Company harmless against, without any limitation, any and all rights, claims, warranties, demands, debts, obligations, liabilities, costs, court costs, expenses, including attorneys’ fees, causes of action or judgments based on or arising out of any such assignment or transfer.

 

 

By:

 

 

 

 

Robert P. DeRodes

 

Date Signed

 

 

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