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This excerpt taken from the PCG 10-Q filed May 6, 2008. Release of claims and covenant not to
sue.
a. In
consideration of the separation benefits and other benefits the Corporation is
providing under this Agreement, Mr. Powell, on behalf of himself and his
representatives, agents, heirs and assigns, waives, releases, discharges and
promises never to assert any and all claims, liabilities or obligations of every
kind and nature, whether known or unknown, suspected or unsuspected that he ever
had, now has or might have as of the Effective Date against the Corporation or
its predecessors, parent, affiliates, subsidiaries, shareholders,
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owners,
directors, officers, employees, agents, attorneys, successors, or
assigns. These released claims include, without limitation, any
claims arising from or related to Mr. Powell’s employment with the Corporation,
its parent or any of its affiliates and subsidiaries, and the termination of
that employment. These released claims also specifically include, but
are not limited, any claims arising under any federal, state and local statutory
or common law, such as (as amended and as applicable) Title VII of the Civil
Rights Act, the Age Discrimination in Employment Act, the Americans With
Disabilities Act, the Employee Retirement Income Security Act, the California
Fair Employment and Housing Act, the California Labor Code, any other federal,
state or local law governing the terms and conditions of employment or the
termination of employment, and the law of contract and tort; and any claim for
attorneys’ fees.
b. Mr.
Powell acknowledges that there may exist facts or claims in addition to or
different from those which are now known or believed by him to
exist. Nonetheless, this Agreement extends to all claims of every
nature and kind whatsoever, whether known or unknown, suspected or unsuspected,
past or present, and Mr. Powell specifically waives all rights under Section
1542 of the California Civil Code which provides that:
c. With
respect to the claims released in the preceding paragraphs, Mr. Powell will not
initiate or maintain any legal or administrative action or proceeding of any
kind against the Corporation or its predecessors, parent, affiliates,
subsidiaries, shareholders, owners, directors, officers, employees, agents,
attorneys, successors, or assigns, for the purpose of obtaining any personal
relief, nor (except as otherwise required or permitted by law) assist or
participate in any such proceedings, including any proceedings brought by any
third parties.
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