Shutterfly 2007 Annual Report Download - page 107

Download and view the complete annual report

Please find page 107 of the 2007 Shutterfly annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 125

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125

MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.
Notwithstanding Section 1542, Employee agrees that this Agreement shall act as a release of all past and future claims that may arise from or
related to his employment or termination from employment with the Company, whether such claims are currently known or unknown, foreseen
or unforeseen, contingent or absolute. Employee intentionally and specifically waives any rights he may have under the provisions of
Section 1542, as well as under any other statutes or common law principles of similar effect, and assumes full responsibility for any injuries,
damages, losses or liabilities that she may hereafter incur with respect to such claims.
As additional consideration for the compensation and benefits described in this Agreement, Employee agrees that he will affirm and extend
this Release of Claims for the Transition Period by re-signing this Agreement in the space at the end of the Agreement on or shortly before the
Termination Date.
4. No Assignment or Transfer . Employee represents and warrants that there has been no assignment or other transfer of any interest in any
claim that he may have against the Company and agrees to indemnify and hold the Company harmless from any liabilities, claims, demands,
damages, costs, expenses and attorneys’ fees incurred by the Company as a result of any assertion of assignment or transfer.
5. Review / Rescind Period .
(a) This Agreement shall not become effective or enforceable until the eighth day after Employee signs this Agreement. In other words,
Employee may revoke Employee’s acceptance of this Agreement within seven (7) days after the date Employee signs it. Employee’
s revocation
must be in writing and received by Patricia School, Vice President, Human Resources at the Company by 5:00 p.m. Pacific Time on the
seventh day in order to be effective. If Employee does not revoke acceptance within the seven (7) day period, Employee’s acceptance of this
Agreement shall become binding and enforceable on the Effective Date. The benefits described above shall become due and payable in
accordance with paragraph 2, provided this Agreement has not been revoked.
(b) Employee acknowledges and agrees that (i) Employee has read and understands the terms of this Agreement; (ii) Employee has been
advised in writing to consult with an attorney before executing this Agreement; (iii) that Employee has obtained and considered such legal
counsel as Employee deems necessary; (iv) that Employee has been given up to twenty-one (21) days to consider whether or not to enter into
this Agreement (although Employee may elect not to use the full 21-day period at Employee’s option); and (v) that by signing this Agreement,
Employee acknowledges that Employee does so freely, knowingly, and voluntarily.
6. Confidentiality .
3