SETTLEMENT AGREEMENT AND
RELEASE
This
Settlement Agreement and Release (hereafter
“Agreement”) is made and entered into as of and on the
last date set forth herein below by SHARON L.
VADENAIS-CHURCHILL (hereafter “Claimant”), of 5214
Bridgewater Lane, Brunswick, Ohio and LNB BANCORP, INC., of
Lorain, Ohio (hereafter “LNB”):
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A.
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Claimant is employed by LNB.
Claimant has threatened to sue LNB and some of its employees to
seek redress for alleged damages incurred by Claimant in the course
and scope of her employment with LNB.
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B.
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Claimant and LNB desire to
compromise and settle all differences that exist between them which
have arisen between them without incurring any further legal
expense.
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Now,
therefore , the Claimant and LNB hereto do hereby covenant and
agree as follows:
1.0 Release
and Discharge
1.1 In
consideration of the payments set forth in Section 2, Claimant
hereby completely releases and forever discharges LNB from all
claims asserted to date by claimant with respect to alleged damages
incurred by claimant in the course of her employment with LNB and
any and all past, present or future claims, demands, obligations,
actions, causes of action, rights, damages, punitive damages,
costs, losses of services, expenses and compensation of any nature
whatsoever, whether based on a tort, contract or other theory of
recovery, which Claimant now has, or which may hereafter accrue or
otherwise be acquired, on account of, or may in any way arise out
of, Claimant’s employment with LNB including, without
limitation, any and all known or unknown claims for bodily and
personal injuries to Claimant, back pay or front pay,
Workers’ Compensation claims, or any claims which were
asserted to date. Claimant specifically reserves the right to file
for unemployment compensation, and LNB reserves the right to oppose
or contest that filing and Claimant’s right to unemployment
compensation.
1.2 This
Agreement shall also apply to LNB’s past, present and future
officers, directors, shareholders, attorneys, agents, servants,
representatives, employees, subsidiaries, affiliates, partners,
predecessors, successors in interest, and assigns.
1.3 This
Agreement shall be fully binding upon Claimant’s heirs,
executors, administrators, assigns and successors.
1.4
Claimant acknowledges and agrees that the release and discharge set
forth above is a general release. Claimant expressly waives and
assumes the risk of any and all claims for damages which exist as
of this date, but of which Claimant does not know or suspect to
exist,
whether through
ignorance, oversight, error, negligence, or otherwise, and which,
if known, would materially affect Claimant’s decision to
enter into this Agreement. Claimant further agrees that Claimant
has accepted payment of the sum specified below as a complete
compromise of matters involving disputed issues of law and fact.
Claimant assumes the risk that the facts or law may be other than
as Claimant believes. It is understood and agreed to by Claimant
that this settlement is a compromise of a disputed claim, and the
payment set forth in Section 2 is not to be construed as an
admission of liability on the part of LNB or any of its employees,
by whom liability is expressly denied.
1.5
Claimant agrees to assume responsibility for all outstanding liens,
known or unknown, including medical liens and subrogation
interests, upon the proceeds of this settlement. In the event that
any liens or subrogation interests are in force, Claimant agrees to
hold harmless and indemnify LNB and its officers, employees,
directors, partners and agents, for all said liens including costs,
expenses, and attorney’s fees incurred because of said liens
or assertion of subrogation interests.
1.6
Claimant specifically releases any claims or causes of action that
she had, has, or may have into the future for any form of interest,
including any interest set forth in Ohio Revised Code §
1343.03.
1.7
Claimant agrees to defend, indemnify
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