What are the terms of a mutual release agreement?
2. The Company and Employee have mutually agreed to terminate the employment relationship, including the rights and obligations of the Parties under the Employment Agreement, and to release each other from any claims arising from, or related to the employment relationship, all on the terms and conditions set forth in this Agreement. AGREEMENT
When was the separation agreement and mutual release made?
Exhibit 10.27 SEPARATION AGREEMENT AND MUTUAL RELEASE This Separation Agreement and Mutual Release (“Agreement”) is made and shall be effective as of December 28, 2004, by and between SulphCo, Inc., a Nevada corporation (the “Company”), and Kirk S. Schumacher (“Employee”). RECITALS
Can a members release include unknown fraud claims?
As a preliminary matter, the parties here debate whether the Members Release encompasses unknown fraud claims. We find that it does.
What does the release in a settlement agreement mean?
The settlement agreement contained a release, which provided that the agreement was made in “full and final settlement of all matters arising out of or in connection with the facts, matters, claims, actions and allegations” made in the lawsuits.
When does a mutual release agreement take place?
A mutual release agreement occurs between two parties that are involved in a legal dispute. By agreeing to mutually release, each party agrees to give up any claims against the other.
What does a rescission do in a mutual release agreement?
A rescission essentially turns back the clock, putting both parties into their pre-agreement positions. A rescission is also referred to as an “unmaking” of a contract. When a mutual release agreement and rescission are drafted well, they represent a definitive ending point for the commitments of each party.
The settlement agreement contained a release, which provided that the agreement was made in “full and final settlement of all matters arising out of or in connection with the facts, matters, claims, actions and allegations” made in the lawsuits.
As a preliminary matter, the parties here debate whether the Members Release encompasses unknown fraud claims. We find that it does.