THIS RELEASE
AGREEMENT (the “Release”) is executed as of September
11, 2009, by and between Terence W. Edwards (“Edwards”)
and PHH Corporation (the “Company”).
WHEREAS, the
Company and Edwards entered into a Transition Services and
Separation Agreement, executed as of August 5, 2009 (the
“Agreement”) that provides for certain payments and
benefits to be paid only if Edwards has signed and not revoked a
general release of claims.
NOW THEREFORE,
intending to be legally bound hereby, the Company and Edwards agree
as follows:
Release and
Covenant Not to Sue.
In consideration
for the benefits and payments specified in the Agreement, Edwards
hereby fully and forever releases and discharges the Company and
each of its subsidiaries and affiliates, and all of their
predecessors and successors, assigns, officers, directors,
trustees, employees, agents and attorneys, past and present
(“Releasees”) of and from any and all claims, demands,
liens, agreements, contracts, covenants, actions, suits, causes of
action, obligations, controversies, debts, costs, expenses,
damages, judgments, orders and liabilities, of whatever kind or
nature, direct or indirect, in law, equity or otherwise, whether
known or unknown, arising through the date of this Release, out of
Edwards’ employment with the Company or any Releasee,
including the termination thereof. By this paragraph Edwards waives
any claims which Edwards has or may have against Releasees, or any
of them. This includes all rights and obligations under any
federal, state or local laws or ordinances pertaining to
employment, including but not limited to any claims for relief or
causes of action under the Age Discrimination in Employment Act, 29
U.S.C. §621 et seq., or any other federal, state or local
statute, ordinance or regulation regarding discrimination in
employment, all claims for wrongful discharge, all claims that
Releasees, or any of them, dealt unfairly with Edwards, in bad
faith or in violation of any contract or agreement, expressed or
implied, that may have existed between Releasees, or any of them,
and Edwards, and all claims against Releasees, or any of them, for
assault, battery, personal injury, emotional distress, pain and
suffering.
Edwards expressly
represents that he has not filed a lawsuit or initiated any other
administrative proceeding against Releasees, or any of them, and
that he has not assigned any claim against the Releasees, or any of
them, Edwards further promises not to initiate a lawsuit or to
bring any other claim against Releasees, or any of them, arising
out of or in any way related to Edwards’ employment by the
Company or any Releasee, including the termination of that
employment. This Release will not prevent Edwards from filing a
charge with the Equal Employment Opportunity Commission (or similar
sta
|
