{"id":40516,"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-stamps-com-inc-and-john-la-valle.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"severance-agreement-stamps-com-inc-and-john-la-valle","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/severance-agreement-stamps-com-inc-and-john-la-valle.html","title":{"rendered":"Severance Agreement &#8211; Stamps.com Inc. and John La Valle"},"content":{"rendered":"<pre>                                                                         stamps\n                                                                            .com\n\n                               October 26, 2000\n\nMr. John La Valle\n1171 Westbend Road\nWestlake Village, CA 91362\n\nDear John:\n\n     Based upon our mutual desire to part company amicably, this is to confirm\nour mutual agreement as follows:\n\n     1.  The Company agrees to accept your resignation from the offices of\nExecutive Vice President and Chief Financial Officer at the Company and from\nyour role as a member of the board of directors and chief financial officer of\nEncrypTix, Inc.  The resignations shall be effective October 6, 2000.\n\n     2.  Upon receipt of this letter signed and dated by you, the Company agrees\n         to:\n\n         (a)  Pay you a lump sum amount of $100,000, less all appropriate\n              withholding taxes. This amount will be wired to you in immediately\n              available funds to an account of your specification.\n\n         (b)  Allow you to keep the laptop computer and Palm Pilot provided to\n              you by the Company for your personal use.\n\n         (c)  Pay you for any accrued and unused vacation and reimburse you for\n              any unpaid expenses incurred by you.\n\n         (d)  Extend the exercisability of any stock options for which you were\n              vested as of October 6, 2000 until April 6, 2001.\n\n     3.  You acknowledge that by payment of the amounts set forth above, you\nwill receive all money and other benefits due you as a result of your employment\nwith and discontinuation of your executive role with the Company.\n\n     4.  You fully release and discharge the Company, all affiliated\ncorporations, past and present officers, directors, employees, agents and\nrepresentatives, and each of them of and from, without limitation, any and all\nrights, claims, liabilities, losses or expenses of any kind whether arising out\nof, from, or related to your employment relationship with the Company, your\nresignation thereof, or arising\n\n \n                                                                         stamps\n                                                                            .com\n\n\nout of any other matter between you and the Company, and specifically including\nany claim of age discrimination under the Age Discrimination in Employment Act,\nas amended, and the California Fair Employment &amp; Housing Act. The Company agrees\nto release and discharge you from, without limitation, any and all rights,\nclaims, liabilities, losses or expenses of any kind whether arising out of,\nfrom, or related to your employment relationship with the Company, your\nresignation thereof, or arising out of any other matter between you and the\nCompany. This agreement does not alter the extent to which you are entitled to\nindemnification pursuant to the Company's Certificate of Incorporation and\nBylaws, Section 2802 of the California Labor Code and any other provision of\nDelaware or California law.\n\n     5.  Each party understands and agrees that the claims released hereby are\nintended to and do include any and all claims of every nature and kind\nwhatsoever, known or unknown, suspected or unsuspected, which each party has or\nmay have against the other and each party hereby waives any and all rights it\nmay have or may have under Section 1542 of the California Civil Code.  Section\n1542 provides as follows:\n\n               A general release does not extend to claims which \n               the creditor does not know or suspect to exist in \n               his favor at the time of executing the release, \n               which if known by him must have materially\n               affected his settlement with the debtor.\n\n     6.  The Company agrees not to directly or indirectly disparage you in any\nmanner.  You agree not to directly or indirectly disparage the Company, its\nofficers or employees in any manner, or directly or indirectly solicit or\nattempt to solicit is employees or customers.  In addition, you agree that you\nremain bound by the Confidential Information and Inventions Assignment Agreement\nthat you signed on September 24, 1998.  You also represent and warrant that you\nhave complied with your obligations under that confidentiality agreement and\nthat you will continue to comply with such obligations.  Nothing contained in\nthis paragraph shall prohibit you from complying with any subpoena, court order,\ndeposition notice, or other legal process.\n\n \n                                                                         stamps\n                                                                            .com\n\n     7.  You acknowledge that you have been advised to consult with an attorney\nbefore signing this agreement, and that you have voluntarily and knowingly\nexecuted this agreement and voluntarily and knowingly waived the statutory\nprovisions described in Sections 8 and 9 below after having had the opportunity\nto consult with an attorney.\n\n     8.  You further acknowledge that you may consider the terms of this\nagreement for 21 days before signing it, and that you have been so advised.  You\nagree to waive this right.\n\n     9.  For a period of seven days following your execution of this agreement,\nyou may revoke the agreement, and the agreement shall not become effective or\nenforceable until the revocation period has expired.  You agree to waive this\nright.\n\n     10.  This letter constitutes the entire agreement between you and the\nCompany concerning the terms of your employment severance and the compensation\nrelated thereto.  No amendments to this agreement will be valid unless written\nand signed by you and an officer of the Company.\n\n     I believe this letter fully describes our agreement, and if you are in\naccord, please sign and date below.  We wish you the best in your future\nendeavors.\n\n                                        Sincerely yours,\n    \n\n\n \n                                        \/s\/ MICHAEL ZUERCHER\n                                        -------------------------------\n                                        Michael Zuercher, Secretary\n\n\n     I agree to and accept the\n     terms of this letter.\n\n\n     John W. La Valle                       26 October, 2000   \n     ----------------------------        -------------------\n     John W. La Valle                          Date\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8913],"corporate_contracts_industries":[9501],"corporate_contracts_types":[9539,9551],"class_list":["post-40516","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-stampscom-inc","corporate_contracts_industries-retail__misc","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\/40516","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=40516"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40516"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40516"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}