This Release of
Claims (“Release”) is entered this 13th day of March,
2006, by and between Ken Wirt and Palm, Inc. (“Palm”)
pursuant to and in accordance with the terms of the July 10,
2002 Severance Agreement (“Severance Agreement”)
between the parties.
The parties hereby
acknowledge and agree that Mr. Wirt is eligible for the
severance benefits described in Section 2 of the Severance
Agreement in connection with his separation from employment with
Palm, effective March 24, 2006 (“Termination
Date”).
Except with
respect to the obligations created by, acknowledged by, or arising
out of this Release, Mr. Wirt, on behalf of himself, his
heirs, administrators, representatives, executors, successors and
assigns (the “Wirt Parties”), and each of them, hereby
releases Palm, its current and former stockholders, directors,
officers, employees, agents, attorneys, successors and assigns (the
“Palm Parties”), and each of them, of and from any and
all claims, actions and causes of action, whether now known or
unknown, which the Wirt Parties now have, ever had, or shall or may
hereafter have against the Palm Parties, or any of them, based upon
or arising out of any matter, cause, fact, thing, act or omission
whatsoever occurring or existing at any time up to and including
the date of this Release, including, but not limited to, any claims
arising from or related to Mr. Wirt’s employment with
Palm or the termination of that employment, and any claims of
breach of contract, wrongful termination, fraud, defamation,
infliction of emotional distress or discrimination due to national
origin, race, religion, age, sex, sexual orientation, disability or
other discrimination or harassment under the Civil Rights Act of
1964, the Age Discrimination in Employment Act of 1967, the
Americans with Disabilities Act, the California Fair Employment and
Housing Act or any other applicable law. The foregoing release
shall not extend to any right of indemnification the Wirt Parties
have or may have for liabilities arising from Mr. Wirt’s
actions within the course and scope of his employment with
Palm.
In connection with
the foregoing general release, Mr. Wirt acknowledges that he
has read and understands Section 1542 of the Civil Code of the
State of California, which provides in full 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 of executing the
release, which if known by him must have materially affected his
settlement with the debtor.
Mr. Wirt,
on behalf off the Wirt parties, hereby expressly waives and
relinquishes all rights and benefits he has or may have under
Section 1542 with respect to the release
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