This excerpt taken from the IRF 8-K filed Apr 21, 2008.
9. Release from Employee: Except for those rights expressly reserved in Paragraph 9.1, below, Employee hereby expressly releases and waives any and all claims, liabilities, demands, damages, penalties, debts, accounts, obligations, actions, grievances, and causes of action (Claims), whether now known or unknown, suspected or unsuspected, whether in law, in equity or in arbitration, of any kind or nature whatsoever, which Employee has or claims to have, now or hereafter, against IR and/or the Releasees referred to in the first paragraph of this Agreement, including, but not limited to, any Claims arising out of or relating in any way to Employees employment at IR and the termination thereof, and any and all benefits under the Prior Agreements. Without limiting the foregoing, Employee hereby acknowledges and agrees that the Claims released by this Agreement include, but are not limited to, any and all claims which arise or could arise under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the Federal Worker Adjustment and Retraining Notification Act (or any similar state, local or foreign law), the California Fair Employment and Housing Act, California statutory or common law, the Orders of the California Industrial Welfare Commission regulating wages, hours, and working conditions, and federal statutory law, or any Claim for severance pay, bonus, sick leave, disability, holiday pay, vacation pay, life insurance, health or medical insurance or any other fringe benefit. Nothing in this Agreement shall limit in any way Employees right under California Workers Compensation laws to file or pursue any workers compensation claim. This release shall not apply to any claims that may not be waived as a matter of applicable law.
(a) As part of this general release, Employee expressly releases, waives and relinquishes all rights under Section 1542 of the California Civil Code which states:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.
1. Employee acknowledges that he may later discover facts in addition to or different from those which Employee now knows, or believes to be true, with respect to any of the subject matters of this Agreement, but that it is nevertheless Employees intention to settle and release any and all Claims released herein.
(b) Employee warrants and represents that there is not now pending any action; complaint, petition, charge, grievance, or any other form of administrative, legal or arbitral proceeding by Employee against IR and further warrants and represents that no such proceeding of any kind shall be instituted by or on Employees behalf based upon any and all Claims released herein.
(c) Employee expressly acknowledges, understands and agrees that this Agreement includes a waiver and release of all claims which employee has or may have under Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. §621, et seq. (ADEA). The following terms and conditions apply to and are part of the waiver and release of ADEA claims under this Agreement:
(i) Employee is advised to consult an attorney before signing this Agreement;
(ii) Employee is granted twenty-one (21) days after he/she is presented with this Agreement to decide whether or not to sign this Agreement;
(iii) Employee will have the right to revoke the waiver and release of claims under the ADEA within seven (7) days of signing this Agreement, and this Agreement shall not become effective and enforceable until that revocation period has expired;
(iv) Employee hereby acknowledges and agrees that he/she is knowingly and voluntarily waiving and releasing Employees rights and claims in exchange for consideration (something of value) in addition to anything of value to which he/she is already entitled; and
(v) Nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so, unless specifically authorized by federal law.
9.1 Exclusions from Release: Nothing herein shall release any rights to indemnification from the Company, if any, that Employee may have in connection with Employees actions taken in the course of her duties with the Company, including without limitation, any such rights arising in connection with claims asserted by third parties or by government agencies, including but not limited to the Securities and Exchange Commission, the Internal Revenue Service, and/or the Department of Justice. Furthermore, nothing herein shall release any rights, if any, that Employee may have to payment of fees in advance of a final disposition.