Adaptec 2011 Annual Report Download - page 118
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Executive agrees that he fully and forever waives any and all rights and benefits conferred upon him by the provisions of Section 1542 of the Civil Code of
the State of California or any other similar state statute, which states as follows:
A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if
known by him must have materially affected his settlement with the debtor.
Executive understands and agrees that this means that if, hereafter, he discovers facts different from or in addition to those which he now knows or believes to
be true, that the waivers and releases of this General Release shall be and remain effective in all respects subject to the exceptions in Section 1,
notwithstanding such different or additional facts or the discovery of such fact.
4. The parties agree that neither the fact nor any aspect of this General Release is intended, or should be construed at any time, to be an admission of liability
or wrongdoing by either Executive or by the Company.
5. The parties agree that if any provision, or portion of a provision, of this General Release is, for any reason, held to be unenforceable, that such
unenforceability will not affect any other provision, or portion of a provision, and this General Release shall be construed as if such unenforceable provision
or portion had never been contained herein.
6. Executive understands that he has twenty-one (21) days after receipt of this General Release within which he may review and consider it, and should
discuss it with an attorney of my own choosing, and decide whether or not to sign this General Release. He also understands that, for the period of seven
(7) days after he signs this General Release, he may revoke it by delivering a written notification of my revocation, no later than the seventh day, to:
General Counsel
1380 Bordeaux Drive
Sunnyvale CA 94089
Fax: 408-239-8118
Executive further understands that the Effective Date of this General Release will be the eighth day after he has signed it, provided that he has delivered it to
the Company and has not revoked it during the seven days after he signed it. He understands that he will not receive the separation payment and other
separation benefits if he revokes this General Release.
7. This General Release, in all respects, shall be interpreted, enforced and governed by and under the laws of the State of Delaware. Any disputes regarding
the enforcement or interpretation of this General Release shall be governed by binding arbitration, under the terms of the Arbitration and Equitable Relief
agreement previously signed by the Company and Executive.
This General Release contains the entire agreement between the Company and Executive with
respect to any matters referred to herein.
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