{"id":40529,"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-and-release-agreement-gap-inc.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"severance-and-release-agreement-gap-inc","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/severance-and-release-agreement-gap-inc.html","title":{"rendered":"Severance and Release Agreement &#8211; Gap Inc."},"content":{"rendered":"<p align=\"center\"><strong>RELEASE <\/strong><\/p>\n<p>The Gap Inc. (&#8220;Company&#8221;) and Marka Hansen (&#8220;Executive&#8221;) entered into an<br \/>\nagreement dated February  16, 2007, and as amended (&#8220;Agreement&#8221;), to provide<br \/>\ncertain specified severance compensation and benefits (&#8220;Severance&#8221;) in the event<br \/>\nof Executive153s termination. Company will terminate the employment of Executive<br \/>\neffective March  29, 2011. Executive153s Separation from Service, as that term is<br \/>\ndefined in the Agreement, is February  4, 2011. Therefore, Executive is eligible<br \/>\nfor Severance, as long as certain conditions in the Agreement are met, including<br \/>\nExecutive153s execution of the release of claims as follows:<\/p>\n<p>Executive hereby releases and forever discharges the Company, its<br \/>\nsubsidiaries, affiliates, officers, directors, agents and employees, from any<br \/>\nand all claims, liabilities and obligations, of every kind and nature, whether<br \/>\nnow known or unknown, suspected or unsuspected, which Executive ever had, or now<br \/>\nhas, with the exception of claims that cannot be legally waived. This release<br \/>\nincludes all federal and state statutory claims, federal and state common law<br \/>\nclaims (including those for contract and tort), and claims under any federal or<br \/>\nstate anti-discrimination statute or ordinance, including but not limited to,<br \/>\nTitle VII of the Civil Rights Act of 1964 (as amended), the Age Discrimination<br \/>\nin Employment Act, 42 U.S.C. sections 1981 and 1983, the Employee Retirement<br \/>\nIncome Security Act of 1974, the Americans with Disabilities Act, the California<br \/>\nConstitution, the California Fair Employment and Housing Act, the California<br \/>\nUnfair Competition Act (California Business and Professions Code section 17200<br \/>\net seq.), the California Unruh Act, and the California Labor Code. Executive<br \/>\nexpressly waives the protection of Section  1542 of the Civil Code of the State<br \/>\nof California, which states:<\/p>\n<p>&#8220;A general release does not extend to claims which the creditor does not know<br \/>\nor suspect to exist in his favor at the time of executing the release, which if<br \/>\nknown by him must have materially affected the settlement with the debtor.&#8221;<\/p>\n<p>This is a legally binding release. Executive is advised to consult with an<br \/>\nattorney prior to signing this Release. Executive has more than 21 days to<br \/>\nconsider this Release. Executive must return this signed Release to the Company<br \/>\nby March  18, 2011. Within seven days of signing this Release, Executive may<br \/>\nrevoke this Release by notifying the Company in writing that Executive revokes<br \/>\nit. Executive is also advised to seek her own financial and tax consultants<br \/>\nrelated to the Severance described in the Agreement.<\/p>\n<\/p>\n<table width=\"40%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"100%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Agreed to this 1<sup>st<\/sup> day of February, 2011<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>\/s\/ Marka Hansen<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Marka Hansen<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7600],"corporate_contracts_industries":[9494],"corporate_contracts_types":[9539,9551],"class_list":["post-40529","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-gap-inc","corporate_contracts_industries-retail__clothing","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\/40529","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=40529"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40529"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40529"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}