Sallie Mae 2015 Annual Report Download - page 200

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.
(4) Additional Representations and Promises: I further acknowledge and agree that:
(a) I will return all SLM and Released Parties’ property in my possession or control
to them.