Exhibit 10.67
FORM OF
RELEASE
This RELEASE (this “
Release ”) is entered into by and between Arlington
Tankers Ltd. (the “ Company ”) and Edward Terino
(the “ Executive ”).
The parties have entered into that
certain Executive Retention Agreement, dated as of October 17,
2008 (the “ Retention Agreement ”).
The Company has entered into an
Agreement and Plan of Merger and Amalgamation, dated as of
August 5, 2008 (the “ Merger Agreement ”),
with General Maritime Corporation and the other parties
thereto.
The parties wish to resolve amicably
the Executive’s separation from the Company and establish the
terms of the Executive’s severance arrangement.
NOW, THEREFORE, in consideration of
the promises and conditions set forth herein, the sufficiency of
which is hereby acknowledged, the Company and the Executive agree
as follows:
1.
Termination Date . The Executive’s effective
date of termination from the Company is December 31,
2008
2.
Consideration . In return for the execution of this
Release and it becoming binding upon the Executive, the Company
agrees to pay the Executive the amounts and provide the Executive
the benefits set forth in Section 4.1, Section 4.2, and
Section 4.3 of the Retention Agreement (the “ Release
Benefits ”), less applicable taxes and
withholdings.
3.
Release . In consideration of the payment of the
Release Benefits, which the Executive acknowledges he would not
otherwise be entitled to receive, the Executive hereby fully,
forever, irrevocably and unconditionally releases, remises and
discharges the Company and General Maritime Corporation and their
respective officers, directors, stockholders, corporate affiliates,
subsidiaries, parent companies, agents and Executives (each in
their individual and corporate capacities), all executive benefit
plans and plan fiduciaries (hereinafter, the “ Released
Parties ”) from any and all claims, charges, complaints,
demands, actions, causes of action, suits, rights, debts, sums of
money, costs, accounts, reckonings, covenants, contracts,
agreements, promises, doings, omissions, damages, executions,
obligations, liabilities, and expenses (including attorneys’
fees and costs), of every kind and nature which the Executive ever
had or now has against the Released Parties, including but not
limited to, any and all claims arising out of the Executive’s
employment with and/or separation from the Company,
including, but not limited to, all claims for any payment in
connection with the Closing (as defined in the Merger Agreement) of
the Combinations (as defined in the Merger Agreement), all
employment
discrimination claims under
Title VII of the Civil Rights Act of 1964, 42 U.S.C.
§ 2000e et seq. , the Age
Discrimination in Employment Act, 29 U.S.C. § 621
et seq. , the Americans With Disabilities Act
of 1990, 42 U.S.C., § 12101 et seq.
, the Family and Medical Leave Act, 29 U.S.C. § 2601
et seq. , the Rehabilitation Act of 1973, 29
U.S.C. § 701 et seq. , and the
Connecticut Human Rights and Opportunities Act, Conn. Gen.
Stat. § 46a-51 et seq. , the
Connecticut Equal Pay Law, Conn. Gen. Stat. § 31-75
et seq. , the Connecticut Family and Medical
Leave Law, Conn. Gen. Stat. § 31-51kk et
seq. , Conn. Gen. Stat. § 31-51m
(Connecticut whistleblower protection law), all as amended; all
common law claims including, but not limited to, actions in tort,
defamation and breach of contract; all claims to any non-vested
ownership interest in the Company, contractual or otherwise,
including but not limited to claims to stock or stock options; and
any claim or damage arising out of the Executive’s employment
with or separation from the Company (including a claim for
retaliation) under any common law theory or any federal, state or
local statute or ordinance not expressly referenced above;
provided, however, that nothing in this Release prevents the
Executive from filing, cooperating with, or participating in any
proceeding before the EEOC or a state Fair Employment Practices
Agency (except that the Executive acknowledges that he may not be
able to recover any monetary benefits in connection with any such
claim, charge or proceeding).
4.
Return of Company Property . The Executive agrees to
return all Company property and equipment in his po
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