Exhibit 10.4
SEPARATION AGREEMENT AND RELEASE
(CHINA)
This Separation Agreement and
Release (this “China Release”) is made by and between
Ying Wu (“Employee”) and UTStarcom (China) Co., Ltd.
(the “Company”) (collectively, referred to as the
“Parties” or individually, referred to as a
“Party”).
WHEREAS, the Parties wish to resolve
any and all disputes, claims, complaints, grievances, charges,
actions, petitions, and demands that the Employee may have against
the Company and any of the Releasees as defined below, including,
but not limited to, any and all claims arising out of or in any way
related to Employee’s employment with or separation from the
Company;
WHEREAS, concurrently with this
Agreement, Employee and UTStarcom, Inc. are entering into the
Separation Agreement and Release (California) dated even date
herewith and to which this China Release is attached as
Exhibit B (the “Agreement”);
NOW, THEREFORE, in consideration of
the mutual promises made herein, the Company and Employee hereby
agree as follows:
1.
Consideration
. The Company agrees to
provide Employee the consideration set forth in Section 1 of
the Agreement, which is a lump sum payment of twelve (12) months of
Employee’s base salary as in effect as of the date of such
termination plus an additional one hundred thousand USD ($100,000)
dollars, (subject to and reduced by the individual income tax),
payable within ten (10) days after the Effective Date of the
Agreement.
2.
Release of Claims
. Employee agrees that the
foregoing consideration represents settlement in full of all
outstanding obligations owed to Employee by the Company and its
current and former officers, directors, employees, agents,
investors, attorneys, shareholders, administrators, affiliates,
divisions, and subsidiaries, and predecessor and successor
corporations and assigns (collectively, the
“Releasees”). Employee, on his own behalf and on
behalf of his respective heirs, family members, executors, agents,
and assigns, hereby and forever releases the Releasees from, and
agrees not to sue concerning, or in any manner to institute,
prosecute, or pursue, any claim, complaint, charge, duty,
obligation, or cause of action relating to any matters of any kind,
whether presently known or unknown, suspected or unsuspected, that
Employee may possess against any of th
