{"id":40497,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/severance-agreement-and-general-release-cybershop-international.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"severance-agreement-and-general-release-cybershop-international","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/severance-agreement-and-general-release-cybershop-international.html","title":{"rendered":"Severance Agreement and General Release &#8211; CyberShop International Inc. and Edward Mufson"},"content":{"rendered":"<pre>\n                     SEVERANCE AGREEMENT AND GENERAL RELEASE\n\n\nThis Severance Agreement and General Release (the 'Agreement') confirms the\nfollowing understandings and agreements between CYBERSHOP INTERNATIONAL, INC.\n('Employer'), and EDWARD MUFSON ('Employee') concerning Employee's employment\nand termination thereof.\n\n         13.      Employment Status:\n\n\n                  (a) Employee's last date of employment will be January 20,\n2000 (the 'Termination Date').\n\n                  (b) Employee will be paid his salary through January 20, 2000\nin accordance with normal payroll practices. Employee will also be paid for any\nunused accrued vacation days, less applicable withholding taxes. Employee's\nhealth coverage under the Employer's group health plan will terminate on January\n31, 2000. Thereafter, Employee will be provided an opportunity to continue\nhealth coverage for himself and qualifying dependents under the Employer's group\nhealth plan in accordance with the Consolidated Omnibus Budget Reconciliation\nAct ('COBRA').\n\n                  (c) Except as otherwise set forth in this Agreement, from and\nafter the Termination Date, Employee shall not be entitled to receive any\nfurther compensation or monies from Employer or to receive any benefits or\nparticipate in any benefit plan or program of Employer, including but not\nlimited to, the Employer's 401(k) Plan.\n\n         14. Severance: Provided Employee complies with his obligations under\nthis Agreement, Employee shall be entitled to severance as follows:\n\n                  (a) Severance: The Employer will pay Employee $75,000, less\napplicable withholding taxes. Such payment will be made in a lump-sum in the\nnext payroll period following the Effective Date (as defined in paragraph 7).\nTogether with Employee's final paycheck, the gross amount of such payment will\nbe $79,615.38, and the net amount will be $59,442.64.\n\n                  (b) The provisions of paragraph 2(a) will have no force and\neffect if Employee revokes this Agreement as provided in paragraph 7 below.\n\n         15. (a) Full Release: In consideration of the benefits and compensation\nprovided in paragraph 2(a) herein, Employee, for himself, his heirs, executors,\nadministrator, successors, and assigns (hereinafter referred to as the\n'Releasors') hereby fully releases and discharges Employer, its officers,\ndirectors, employees, agents, insurers, underwriters, subsidiaries, parents,\naffiliates, successors or assigns (all such persons, firms, corporations and\nentities being\n\n\n\n\n\n\ndeemed beneficiaries hereof and are referred to herein as the 'Releasees') from\nany and all actions, causes of action, claims, obligations, costs, losses,\nliabilities, damages, attorneys' fees, and demands of whatsoever character,\nwhether or not known, suspected or claimed, which the Releasors have, or\nhereafter may have, against the Releasees by reason of any matter, fact or cause\nwhatsoever from the beginning of time to the date of this Agreement, including,\nwithout limitation, all claims arising out of or in any way related to\nEmployee's employment or the termination of his employment.\n\n                  This Agreement of Employee shall be binding on the executors,\nheirs, administrators, successors and assigns of Employee and shall inure to the\nbenefit of the respective executors, heirs, administrators, successors and\nassigns of the Releasees.\n\n                  (b) For and in consideration of the release set forth in\nclause (a) above, Employer, for and on behalf of the Releasees, releases\nEmployee from any and all actions, causes of action, claims, obligations, costs,\nlosses, liabilities, damages, attorneys' fees, and demands of whatsoever\ncharacter, whether or not known, suspected or claimed, which the Employer has,\nor hereafter may have, against Employee by reason of any matter, fact or cause\nwhatsoever from the beginning of time to the date of this Agreement, including,\nwithout limitation, all claims arising out of or in any way related to\nEmployee's employment or the termination of his employment.\n\n         16. Confidentiality: Employee agrees that the terms of this Agreement\nhave been and shall be held strictly confidential by him and his attorneys and\naccountants, and that he shall not, and shall instruct his attorneys and\naccountants not to disclose any such information, orally or in writing, to\nanyone else, including without limitation, any past, present or future employee\nor agent of the Employer. Employee recognizes that, in the event he or his\nattorneys disclose any information contrary to the confidentiality provisions of\nthis Agreement, any such disclosure would be a material breach of the Agreement\nfor which the Employer shall be entitled to recover payments made under\nparagraph 2(a) of this Agreement, in addition to its other remedies in law and\nequity.\n\n         17. Releasees' Express Denial of Liability: The payment by the\nReleasees of the amount specified herein above shall not be deemed an admission\nthat any liability of the Releasees exists, and in making such payment Releasees\ndo not admit, and expressly deny, any liability.\n\n         18. Waiver of Rights Under Other Statutes: Employee understands that\nhis Agreement includes the waiver of claims and rights Employee may have under\nother applicable statutes, including without limitation, Title VII of the Civil\nRights Act of 1964; the Civil Rights Act of 1991; the Employee Retirement Income\nSecurity Act; the Equal Pay Act; the Rehabilitation Act of 1973; the Americans\nwith Disabilities Act; the Family and Medical Leave Act; the New Jersey Family\nLeave Act; the New Jersey Law Against Discrimination; the Fair Labor Standards\nAct; the New Jersey Wage and Hour Act; and\/or the New Jersey Conscientious\nEmployee Protection Act, and any and all amendments to any of same.\n\n\n\n\n\n\n         19. Waiver of Rights Under the Age Discrimination in Employment Act:\nEmployee understands that this Agreement, and the release contained herein,\nwaives claims and rights Employee might have under the Age Discrimination in\nEmployment Act ('ADEA'). The monies and other benefits offered to Employee in\nthis Agreement are in addition to any sums or benefits that Employee would be\nentitled without signing this Agreement. For a period of seven (7) days\nfollowing execution of this Agreement, Employee may revoke the terms of this\nAgreement by a written document received by Employer on or before the end of the\nseven (7) day period (the 'Effective Date'). The Agreement will not be effective\nuntil said revocation period has expired. Employee acknowledges that he has been\ngiven up to twenty-one (21) days to decide whether to sign this Agreement.\nEmployee has been advised to consult with an attorney prior to executing this\nAgreement.\n\n         20. Return of Property: Prior to receiving the severance payment\ndescribed in paragraph 2(a), Employee agrees to return to the Employer all\nEmployer property, including without limitation, mailing lists, reports, files,\nmemoranda, records, computer hardware, software, credit cards, door and file\nkeys, computer access codes or disks and instructional manuals, and other\nphysical or personal property which Employee received or prepared or helped\nprepare in connection with his employment with Employer, and that Employee will\nnot retain any copies, duplicates, reproductions or excerpts thereof. Employer\nrecognizes that Employee states that he has returned all Employer property in\nhis possession.\n\n         21. No Disparagement:\n\n                  (a) Employee agrees that he shall not make, or cause to be\nmade, any statement or communicate any information (whether oral or written)\nthat disparages or reflects negatively on Employer or any of the Releasees.\nNothing herein shall preclude Employee from complying with a subpoena or other\nlawful process.\n\n                  (b) Employer agrees that it shall not make, or cause to be\nmade, any statement or communicate any information (whether oral or written)\nthat disparages or reflects negatively on Employee. Employer also agrees that it\nshall not interfere with Employee's efforts to obtain subsequent employment. It\nshall not be a violation of this paragraph 9(b) if an employee or independent\ncontractor of Employer disparages Employee or interferes with his efforts to\nobtain subsequent employment outside the scope of his or her employment or\nwithout the authority of Employer. Nothing herein shall preclude Employer from\ncomplying with a subpoena or other lawful process.\n\n         22. Employment Agreement is Terminated:With the exception of paragraph\n9 ('Confidentiality'), which agreement shall remain in full force and effect and\nis hereby affirmed and ratified, the Employment Agreement entered into between\nEmployer and Employee dated March 24, 1999 is terminated as of the Termination\nDate. Accordingly, Employee's agreements in paragraph 10 ('Non-Competition')\nwill terminate as of the Termination Date.\n\n         23. No Suit: Employee represents that he has not filed or permitted to\nbe filed against the Employer or any of the other Releasees, individually or\ncollectively, any lawsuits, and he covenants and agrees that he will not do so\nat any time hereafter. Employee will not voluntarily participate in any judicial\nproceeding against any of the Releasees that in any way involve the allegations\nand facts that he could have raised against any of the Releasees in any forum as\nof the date hereof. Employee agrees that he will not encourage or cooperate with\nany\n\n\n\n\n\n\nother current or former employee of Employer or any potential plaintiff to\ncommence any legal action or make any claim against the Employer or against the\nReleasees in respect of such persons employment with the Employer or otherwise.\n\n         24. Entire Agreement: Except as otherwise set forth herein, this\nAgreement sets forth the entire agreement between the parties relating to the\nsubject matter hereof. This Agreement may not be changed orally but changed only\nin a writing signed by both parties.\n\n         25. Miscellaneous:\n\n\n                  (a) This Agreement shall be governed in all respects by laws\nof the State of New Jersey.\n\n                  (b) Neither the Employer nor the Employee shall issue a press\nrelease announcing the termination of Employee's employment without the prior\napproval of the other party.\n\n                  (c) Employer will not interfere in any way with Employee's\nability to sell or otherwise transfer Employee's shares of Employer's stock.\n\n                  (d) In the event that any one or more of the provisions of\nthis Agreement is held to be invalid, illegal or unenforceable, the validity,\nlegality and enforceability of the remaining provisions will not in any way be\naffected or impaired thereby. Moreover, if any one or more of the provisions\ncontained in this Agreement is held to be excessively broad as to duration,\nscope, activity or subject, such provisions will be construed by limiting and\nreducing them so as to be enforceable to the maximum extent compatible with the\napplicable law.\n\n                  (e) The paragraph headings used in this Agreement are included\nsolely for convenience and shall not affect or be used in connection with the\ninterpretation of this Agreement.\n\n\n\n         IN WITNESS THEREOF, Employer and Employee have executed this Severance\nAgreement and General Release on this ____ day of ______________, 2000.\n\n\n                                              CYBERSHOP INTERNATIONAL, INC.\n\n\n\n                                              By:_______________________________\n\n\n\n\n\n                                              __________________________________\n                                              EDWARD MUFSON\n\n\n\n                                              Date:_____________________________\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7700],"corporate_contracts_industries":[9510],"corporate_contracts_types":[9539,9551],"class_list":["post-40497","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-gsv-inc","corporate_contracts_industries-technology__programming","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\/40497","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=40497"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40497"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40497"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}