Exhibit 99.1
CONFIDENTIAL SEVERANCE
AGREEMENT AND GENERAL RELEASE
Commerce Energy
Group, Inc. (“Company”) and Rubin N. Cioll
(“Employee”) hereby agree to end their employment
relationship on the following basis:
1.
Employee will be laid off
from the Company on April 25, 2008 (“Release
Date”). On the Release Date, Employee will be paid
his/her regular base salary through that date, and for any earned
but unused vacation days. Employee will cooperate fully with
an amicable and professional transition of accounts and/or
responsibilities. In addition, Employee represents that
he/she has returned to the Company all files, records, credit
cards, keys, equipment, and any other Company property or documents
maintained by him/her for the Company’s use or
benefit.
2.
Employee represents that
he/she is signing this Agreement voluntarily and with a full
understanding of and agreement with its terms, for the purpose of
receiving severance pay from the Company that is not required by
Company policy.
3.
In reliance on
Employee’s promises and releases in this Agreement, the
Company will make a severance payment to Employee in the sum of
$57,500.00, less deductions required by law (“Severance
Pay”). The Severance Pay will be mailed to Employee on
the Company’s first regular pay day that is more than seven
calendar days after the Effective Date (defined below) of this
Agreement.
Employee agrees
that he/she is not entitled to receive, and will not claim, any
right, benefit, or compensation other than what is expressly set
forth in this Agreement, and hereby expressly waives any claim to
any compensation, benefit, or payment which is not expressly
referenced in this Agreement.
4.
In exchange for the
Severance Pay provided in Paragraph 3, Employee promises
a.
to keep this Agreement and
its contents in complete confidence and not to disclose the fact or
terms of this Agreement or the fact or amount of the special
payment(s) to any person, including any past, present, or
prospective employee of the Company.
b.
not to disparage the
Company or its products, services, or management.
c.
not to use or disclose any
confidential information, trade secrets, or financial, personnel,
or client information which he/she learned while employed by the
Company.
d.
for a period of twelve
(12) months after this Agreement is signed, not to solicit or
participate in or assist in any way in the solicitation of any
Company employee to begin an employment or consulting relationship
with any other employer.
e.
for a period of twelve
(12) months after this Agreement is signed, not to solicit or
participate in or assist in any way in the solicitation of the
customers of the Company to cease or decrease doing business with
the Company or for the customers to begin doing business with any
competitor of the Company. This promise does not prevent
Employee from going to work for a competitor of the Company as long
as he/she does not violate any of his/her promises with respect to
Company information, property and/or trade secrets.
5.
Employee does hereby, for
himself/herself and his/her heirs, successors and assigns, release,
acquit and forever discharge the Company, and its officers,
directors, managers, employees, representatives, relate
