{"id":40317,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/release-and-settlement-agreement-hasbro-inc-dial-corp-and.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"release-and-settlement-agreement-hasbro-inc-dial-corp-and","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/release-and-settlement-agreement-hasbro-inc-dial-corp-and.html","title":{"rendered":"Release and Settlement Agreement &#8211; Hasbro Inc., Dial Corp. and Herbert M. Baum"},"content":{"rendered":"<pre>RELEASE AND SETTLEMENT AGREEMENT\n\n\n\nThis Release and Settlement Agreement (\"Settlement \nAgreement\") is dated this 31st day of January, 2001 by and \nbetween Hasbro, Inc. (\"Hasbro\"), the Dial Corporation (\"Dial\") \nand Herbert M. Baum (\"Baum\").\n\nWHEREAS, Baum and Hasbro entered into an Employment \nAgreement dated January 5, 1999 (the \"Employment Agreement\"); \n\nWHEREAS, Baum was employed by Hasbro commencing January 5, \n1999 until he resigned from Hasbro on or about August 5, 1999  \nand accepted a position as Chief Executive Officer with Dial;\n\nWHEREAS, a dispute arose between Hasbro, Dial and Baum with \nrespect to a certain payment by Hasbro to Baum pursuant to \nSection 6.3 of the Employment Agreement; and \n\nWHEREAS, the parties hereto desire to resolve all disputes \narising between themselves including, but not limited to, all \ndisputes relating to the Employment Agreement, the employment \nrelationship between Baum and Hasbro and the offer of employment \nmade to Baum by Dial; \n\nNOW, THEREFORE, in consideration of the promises and \nconditions set forth herein, the sufficiency of which is hereby \nacknowledged, the parties hereto agree as follows:\n\n1.  In exchange for (i) a payment to Baum by Hasbro in the \namount of Seven Hundred Fifty Thousand Dollars ($750,000), which \npayment shall be made eight (8) days after receipt by Hasbro of \nthis fully executed Settlement Agreement, provided that Baum \ndoes not revoke his acceptance of this Settlement Agreement \nwithin the seven day revocation period, and  (ii) Hasbro's \nforbearance of asserting claims against Baum,  Baum hereby \nfully, forever, irrevocably and unconditionally releases, \nremises and discharges Hasbro and its subsidiaries and \naffiliates and each of their current or former officers, \ndirectors, stockholders, attorneys, agents, or employees \n(collectively, the \"Hasbro Released Parties\") from any and all \nclaims, charges, complaints, demands, actions, causes of action, \nsuits, rights, debts, sums of money, costs, accounts, \nreckonings, covenants, contracts, agreements, promises, doings, \nomissions, damages, executions, obligations, liabilities and \nexpenses (including attorneys' fees and costs), of every kind \nand nature, known or unknown, which he ever had or now has \nagainst the Hasbro Released Parties including, but not limited \nto, all claims arising out of Baum's employment with or \nseparation from Hasbro, the Employment Agreement, all claims and \ndamages relating to race, sex, national origin, handicap, \nreligious, sexual orientation, benefits and age discrimination, \nall employment discrimination claims under Title VII of the \nCivil Rights Act of 1964, 42 U.S.C. Section 2000 et. seq., the \nAge Discrimination in Employment Act, 29 U.S.C. Section 621 et. \nseq., the Employee Retirement Income Security Act of 1974, 29 \nU.S.C. Section 1001, et. seq., and the Americans with \nDisabilities Act, 42 U.S.C. Section 12101 et. seq., and similar \nstate or local  statutes including but not limited to the R.I. \nFair Employment Practices Act, R.I., Gen. Laws  Section 28-5-1, \net. seq., all wrongful discharge claims, all common law claims \nincluding, but not limited to, actions in tort, defamation, \nbreach of contract and any claims under any other federal, state \nor local statutes or ordinances not expressly referenced above.  \nNotwithstanding the foregoing, in no event shall Baum be deemed \nby this Paragraph 1 to have released any rights to \nindemnification or contribution as provided by law or to any \nprotection provided to Baum under Hasbro's directors' and \nofficers' liability insurance policies.  In addition, a deferred \ncompensation payment of Seven Hundred Thirteen Thousand One \nHundred Thirty Six Dollars and Twenty Five Cents ($713,136.25) \nwas made to Baum on January 19, 2001 pursuant to the Hasbro \nDeferred Compensation Plan and a pension payment of Four Hundred \nEighty One Thousand Four Hundred Twenty Six Dollars and Eleven \nCents ($481,426.11) will be paid to Baum in accordance with the \nEmployment Agreement. \n\n2.  In exchange for Hasbro's forebearance of asserting \nclaims against Dial and each of Dial's subsidiaries and \naffiliates and their current or former officers, directors, \nstockholders, attorneys, agents or employees (collectively, the \n\"Dial Released Parties\"), Dial hereby fully, forever, \nirrevocably and unconditionally releases, remises and discharges \nthe Hasbro Released Parties from any and all claims, charges, \ncomplaints, demands, actions, causes of action, suits, rights, \ndebts, sums of money, costs, accounts, reckonings, covenants, \ncontracts, agreements, promises, doings, omissions, damages, \nexecutions, obligations, liabilities and expenses (including \nattorneys' fees and costs) of every kind and nature, known or \nunknown, which Dial has against  the Hasbro Released Parties \nincluding, but not limited to, all claims arising out of Baum's \nemployment with or separation from Hasbro, the Employment \nAgreement, and all common law claims including, but not limited \nto, actions in tort, defamation, and breach of contract and any \nclaims under any other federal, state or local statutes or \nordinances.<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7313,7732],"corporate_contracts_industries":[9395,9403],"corporate_contracts_types":[9539,9551],"class_list":["post-40317","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-dial-corp","corporate_contracts_companies-hasbro-inc","corporate_contracts_industries-consumer__cleaning","corporate_contracts_industries-consumer__toys","corporate_contracts_types-compensation","corporate_contracts_types-compensation__severance"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40317"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40317"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40317"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}