Netgear 2004 Annual Report Download - page 100

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his severance payments shall cease immediately: (1)Linksys Group (2)Dlink Systems, Inc.; (3)Dell Computer Corporation, Networking
Division (4)3Com Corporation; (5)Hewlett Packard Company, Networking Division; and (6)Cisco Systems. Executive agrees that if he
accepts an offer of employment from any of the above referenced companies within nine (9)months following the Effective Date of this
Agreement, he shall notify the Company not later than 48 hours following his acceptance of any such employment offer, whether
written or oral.
(b)
Stock
. Executive shall continue to vest under the Stock Agreement until July30, 2005 (the “Termination of Vesting Date”).
Executive acknowledges and agrees that he will have already vested in 198,021 shares of his outstanding options on the Termination
Date (the “Already Vested Options”). The Parties acknowledge that as of the Termination Date, Executive has already exercised at
least 20,100 shares of his Already Vested Options. Executive shall be eligible to exercise any of this vested options until October29,
2005, which is ninety (90)days following the Termination of Vesting Date.
(c)
COBRA
. Executive’s health insurance benefits will cease at the end of July2004, subject to Executive’s right to continue his health
insurance under COBRA. The Company shall reimburse Executive for the payments he makes for COBRA coverage for a period of nine
(9)months beginning on August1, 2004 and concluding on April30, 2005. The Company shall make these COBRA reimbursement
payments to Executive within ten (10)days following his provision to the Company of documentation substantiating his payments for
COBRA coverage. Executive’s participation in all other benefits and incidents of employment (including, but not limited to, vacation
and paid time off) ceased on the Termination Date.
2.
Confidential Information
. Executive shall continue to comply with the terms and conditions of the Proprietary Information
Agreement, and maintain the confidentiality of all of the Company’s confidential and proprietary information. Executive shall also
return to the Company all of the Company’s property and confidential and proprietary information by the Effective Date of this
Agreement.
3.
Payment of Salary
. Executive acknowledges and represents that, except for the Severence Payments set forth in Section1.(a). above,
the Company has paid all salary, wages, bonuses, accrued vacation, housing allowances, relocation costs, interest, outplacement
costs, fees, commissions and any and all other benefits and compensation due to Executive.
4.
Release of Claims
. Executive agrees that the consideration provided in this Agreement represents settlement in full of all
outstanding obligations owed to Executive by the Company and its current and former officers, directors, employees, agents,
investors, attorneys, shareholders, administrators, affiliates, divisions, subsidiaries, and predecessor and successor corporations and
assigns (collectively the “Releasees”). Executive hereby and forever releases the Releasees from any claim, complaint, charge, duty,
obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected,
that Executive may possess against any of the Releasees arising from any omissions, acts or facts that have occurred until and
including the Effective Date of this Agreement, including, without limitation:
-2-
2005. EDGAR Online, Inc.