Shutterfly 2007 Annual Report Download - page 106

(b) If Employee is covered under the Company’s group health plan as of the Termination Date and he timely elects to continue his group
coverage pursuant to federal/state law (COBRA), the Company will pay six (6) months of the applicable COBRA premiums as COBRA is
provided in accordance with the terms of the applicable plans and the law beginning on the first of the month following the Termination Date
until the earlier of (i) the date you become employed and covered under another employer’s group health plan, or (ii) the last day of the six
month period described herein. Thereafter, Employee will be solely responsible for the timely payment of the COBRA premiums.
Employee understands and acknowledges that as of the Termination Date, he will be paid all wages and accrued, unused paid time off that
Employee earned during his employment with the Company through the Termination Date. Employee understands and acknowledges that he
shall not be entitled to any payments or benefits from the Company other than those expressly set forth in this paragraph 2.
3. Release .
In consideration of the compensation and benefit to be paid to Employee pursuant to paragraph 2 above, Employee and his successors and
assigns fully release the Company and its related entities, past and present affiliates, stockholders, investors, directors, officers, employees,
agents, attorneys, insurers, legal successors and assigns (the “Released Parties”) of and from any and all claims, liabilities, obligations,
demands, actions and causes of action, whether now known or unknown, that Employee now has, or at any other time had, or shall or may have
against those Released Parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing at
any time up to and including the Termination Date.
This release includes specifically but not exclusively and without limiting the generality of the foregoing, any claims of breach of contract,
wrongful termination, retaliation, fraud, defamation, infliction of emotional distress or national origin, race, age, sex, sexual orientation,
disability or other discrimination or harassment under the Civil Rights Act of 1964, the Age Discrimination In Employment Act of 1967, as
amended, the Older Workers Benefit Protection Act, the Americans with Disabilities Act, the Fair Employment and Housing Act or any other
applicable law. However, this Release is not intended to bar any claims that, by statute, may not be waived, such as claims for workers’
compensation benefits, unemployment insurance benefits, and any challenges to the validity of Employee’s release of claims under the Age
Discrimination in Employment Act of 1967, as amended, as set forth in this Agreement.
Employee acknowledges that he has read section 1542 of the Civil Code of the State of California, which states in full:
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
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