CONFIDENTIAL SEPARATION
AGREEMENT
AND RELEASE OF ALL CLAIMS
Employee was provided a copy of
this agreement on March 2, 2007
This Separation
Agreement and Release of All Claims (“Agreement”) is
between Vince Niedzielski (“Employee”) and QAD
Inc. (“Company”).
|
|
1.
|
|
Employee’s employment with the
Company will be terminated effective March 9,
2007.
|
|
|
|
|
|
|
|
2.
|
|
The
parties recognize that, apart from this Agreement, the Company is
not obligated to provide Employee with any of the benefits set
forth hereunder.
|
|
|
|
|
|
|
|
3.
|
|
Employee has been paid all salary,
accrued vacation and Company benefits due and owing as of the
Termination Date. These amounts are not consideration for this
release.
|
|
|
|
|
|
|
|
4.
|
|
The
parties mutually desire to end their relationship as amicably as
possible and eliminate the possibility of any future
disputes.
|
|
|
|
|
|
|
|
5.
|
|
Based upon the foregoing, Employee
and the Company agree as set forth below:
|
|
|
(a)
|
|
In
full consideration of Employee signing this Agreement, the Company
promises to pay Employee the gross amount of $ 149,997.12,
less all required payroll tax deductions, by the next standard pay
period, following the Effective Date of this Agreement, as
described in Paragraph 5(i)(3) below. In addition, the company
promises to provide six months individualized Career
Transition/Outplacement program provided by Drake Beam Morin and
six months of paid COBRA for health coverage (medical, dental, and
vision), if Employee had elected coverage prior to Employee’s
Termination Date (this is also contingent upon Employee initiating
COBRA and completing the appropriate forms). QAD-paid COBRA
coverage does not include COBRA for Flexible Spending
Reimbursement. If Employee elects to not utilize the Career
Transition/Outplacement program or the three months of paid COBRA,
a cash equivalent is not available. This represents full settlement
of any and all claims that were or could have been raised against
the Company, and is consideration to which Employee was not
otherwise entitled.
|
|
|
|
|
|
|
|
(b)
|
|
Employee and his successors and
assigns hereby release forever with prejudice the Company, its
current shareholders, officers, directors, employees, agents,
insurers, predecessors, successors and assigns, and all persons
acting in such capacities during the time Employee was working for
the Company, from all actions, suits, claims and demands in law or
equity, that the Employee ever had, now has, or hereafter may have,
resulting from
|
1 of 5
|
|
|
|
anything that
has happened up until now, including, by way of example rather than
limitation, any matter, cause or claims relating in any way to
Employee’s employment relationship or the termination of
Employee’s employment relationship with the Company,
including but not limited to, any claims (including claims for
attorneys fees) arising under Title VII of the Civil Rights Act of
1964, the federal Age Discrimination in Employment Act and the
Americans with Disabilities Act, all as amended by the Civil Rights
Reconciliation Act of 1991; the federal Older Workers Benefit
Protection Act, the federal Equal Pay Act; the Occupational Safety
and Health Act; the Fair Labor Standards Act; the federal Employee
Retirement Income Security Act; the federal Family and Medical
Leave Act; the Consolidated Omnibus Reconciliation Act; the federal
Constitution; the California State Constitution; the California
Equal Pay Law; the California Fair Employment and Housing Act; the
California Family Rights Act; the California Workers Compensation
Act; the California wage and hour laws; or any other federal, state
or local law or ordinances and any common law claims under tort,
contract or any other theories now or hereafter recognized. The
release recited in this paragraph shall include any and all claims
which Employee may have for any type of damages cognizable under
any of the laws referenced herein, including, but not limited to,
any and all claims for compensatory damages, punitive damages, and
specifically including any claims for attorney fees.
|
|
|
|
|
|
|
|
(c)
|
|
Employee also specifically
acknowledges that he is aware of and familiar with the provisions
of California Civil Code section 1542, which provides as
follows:
|
“A
GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES
NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME EXECUTING THE
RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS
SETTLEMENT WITH THE DEBTOR.”
Employee being
aware of this section hereby
|
