{"id":40455,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/separation-agreement-and-mutual-release-of-claims-liberate.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"separation-agreement-and-mutual-release-of-claims-liberate","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/separation-agreement-and-mutual-release-of-claims-liberate.html","title":{"rendered":"Separation Agreement and Mutual Release of Claims – Liberate Technologies and David A. Limp"},"content":{"rendered":"
SEPARATION AGREEMENT AND
MUTUAL RELEASE OF CLAIMS<\/b><\/p>\n\n
David \nLimp (\"Employee\") and Liberate Technologies, including its subsidiaries, affiliates, directors, officers, shareholders, agents, and employees, (collectively, \"Liberate\") agree that Employee's \nemployment will be terminated as of July 31, 2002 (the \"Effective Date\"). In connection with the end of that employment, Liberate and Employee agree as follows: <\/p>\n\n\n
        1.    Repayment of Loan Principal and Interest.<\/i>    Within five business days of the Effective Date, Employee will \nrepay to Liberate the full principal and interest due under the Promissory Note between the parties dated January 3, 2001. Should Employee fail to do so, Liberate may offset such amounts from \nany payments due under Section 2 below. <\/p>\n\n
        2.    Separation Payments.<\/i>    Liberate will pay Employee a gross separation payment equal to his salary and \non-target bonuses for fiscal year 2002, plus any payments due for accrued vacation and reasonable expenses submitted by the Effective Date and incurred in compliance with Liberate's \nexpense guidelines, less applicable taxes and withholding, within fifteen business days of the Effective Date. Liberate and Employee agree that his termination triggers payment of all unpaid amounts \nunder the Employee Retention Agreement between the parties dated January 9, 2001 and the Amendment to that Agreement dated February 20, 2002, and Liberate will pay such amounts within \nfifteen days of the Effective Date. Employee is not entitled to and will not seek any other payments or benefits from Liberate. <\/p>\n\n
        3.    Mutual Release of Claims.<\/i>    Neither party will institute any legal action against the other and each party \nwaives and releases the other from any claims that it had, has, or shall have against the other or against any other persons or entities, other than claims that may arise under the Indemnification \nAgreement between the parties dated May 19, 1999 or under directors and officers insurance policies naming Employee as a third-party beneficiary. This waiver and release includes, but is not \nlimited to, any claims related to Employee's employment with Liberate or the end of that employment, and any claims under past or present laws, including original and amended versions of Title VII of \nthe Civil Rights Act of 1964; the California Fair Employment and Housing Act; the Worker Adjustment and Retraining Notification Act; the California Constitution; the California Worker's Compensation \nAct; the Age \nDiscrimination in Employment Act, the Older Workers' Benefit Protection Act; the Employee Retirement Income Security Act of 1974; and the National Labor Relations Act. <\/p>\n\n\n
        4.    Unknown Claims.<\/i>    The parties understand and acknowledge that they may not currently know of losses or claims \nor may have underestimated the severity of losses. Part of the consideration provided by this Agreement was given in exchange for the release of such claims. The parties hereby waive any rights or \nbenefits under California Civil Code Section 1542, which provides that: <\/p>\n\n<\/pre>\n