Sallie Mae 2015 Annual Report Download - page 181

SLM and I, the Parties (“Parties”), expressly agree however, that nothing in this
Agreement and Release shall preclude my participation as a member of a class in any suit or
regulatory action brought against the Released Parties arising out of or relating to any alleged
securities violations or diminution in the value of SLM securities. SLM agrees that the release under
this Section (2) shall not cover, and I reserve and do not waive, my rights, directly or indirectly to
seek further indemnification and/or contribution under the By-Laws of SLM. SLM hereby reaffirms
that I am entitled to indemnification after termination of my employment, for actions taken in my
capacity as an officer of SLM Corporation or applicable SLM Corporation subsidiaries under the
bylaws of the applicable subsidiary or SLM (subject to the provisions of the By-Laws, which limit
indemnity in certain circumstances).
(3) Covenant Not To Sue: I agree not to sue the Released Parties with respect to any
claims, demands, liabilities or obligations released by this Agreement and Release. The Parties
agree, however, that nothing contained in this covenant not to sue or elsewhere in this Agreement
and Release shall:
(a) prevent me from challenging, under the Older Workers Benefits Protection
Act (29 U.S.C. § 626), the knowing and voluntary nature of my release of any age claims in this
Agreement and Release before a court, the Equal Employment Opportunity Commission (“EEOC”),
or any other federal, state, or local agency;
(b) prevent me from enforcing any future claims or rights that arise under the
Age Discrimination in Employment (ADEA) after I have signed this Agreement and Release; or
(c) prohibit or restrict me from: (i) making any disclosure of information required
by law; (ii) filing a charge, initiating, making disclosures, testifying in, providing information to,
or assisting in an investigation or proceeding brought by or to any governmental or regulatory body
or official, or in any judicial or administrative action; (iii) making disclosures that are required or
protected under the Sarbanes-Oxley Act of 2002, the Securities Exchange Act of 1934, and any
other law, rule or regulation, subject to the jurisdiction of the Securities and Exchange Commission;
or (iv) from testifying, participating in or otherwise assisting in a proceeding relating to an alleged
violation of any federal or state employment law or any federal law relating to fraud or any rule or
regulation of the Securities and Exchange Commission or any self-regulatory organization.
Except with respect to the proviso in Section (2) regarding alleged securities
violations and notwithstanding anything to the contrary in this paragraph, I hereby waive and release
any right to receive any personal relief (for example, money) as a result of any investigation or
proceeding of the U.S. Department of Labor, EEOC, U.S. Department of Education, OIG, Securities
and Exchange Commission, Consumer Financial Protection Bureau, or any federal, state, or local
government agency or court. Further, with my waiver and release of claims in this Agreement and
Release, I specifically assign to the Released Parties my right to any recovery arising from any such
investigation or proceeding.