to receive any severance or other separation benefits that are not explicitly set forth in this Agreement. Employee acknowledges that without this Agreement, Employee is otherwise not entitled to the consideration listed in this Section 1.
2.Restricted Stock Units. Pursuant to the RSU Agreement, Employee was granted an award of 5,000 RSUs. Absent this Agreement, as of the Separation Date, Employee will not be vested in any of the RSUs, and 5,000 RSUs would expire on the Separation Date. However, as set forth in Section 1.b. of this Agreement, as consideration for this Agreement and subject to Employee executing and not revoking this Agreement, the Company has agreed to accelerate the vesting of 5,000 RSUs, with such RSUs to be settled within ten (10) business days after the Effective Date. As a result, none of the RSUs will expire on the Separation Date. In the event that Employee does not execute this Agreement within the period of time specified in Section 27 hereof, or revokes such execution, such 5,000 RSUs will immediately expire. Except as provided in Section 1.b. of this Agreement, the RSU Agreement will remain in full force and effect, and Employee agrees to remain bound by that agreement. Employee agrees that Employee has no rights to Company equity other than as described in Section 1.b. and this Section 2.
3.Benefits. Employee’s Company-sponsored health insurance benefits shall cease on August 31, 2025, subject to Employee’s right to continue Employee’s health insurance under COBRA. Employee’s participation in all benefits and incidents of employment, including, but not limited to, vesting in stock options, and the accrual of bonuses, vacation, and paid time off, ceased as of the Separation Date.
4.Payment of Salary and Receipt of All Benefits. Employee acknowledges and represents that, other than the consideration set forth in this Agreement, the Company has paid or provided (to the extent applicable) all salary, wages, bonuses, vacation/paid time off, premiums, leaves, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, vesting, and any and all other benefits and compensation due to Employee.
5.Release of Claims. Employee agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to Employee by the Company, its parents, subsidiaries, and affiliates, and each of their respective current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, benefit plans, plan administrators, professional employer organizations or co-employers, insurers, trustees, divisions, predecessor and successor corporations, and assigns (collectively, the “Releasees”). Employee, on Employee’s own behalf and on behalf of Employee’s respective heirs, family members, executors, agents, and assigns, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, demand, or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Employee may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including the date Employee signs this Agreement, including, without limitation:
a. any and all claims relating to or arising from Employee’s employment relationship with the Company and the termination of that relationship;
b. any and all claims relating to, or arising from, Employee’s right to purchase, or actual purchase of shares of stock of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law;
c. any and all claims for wrongful discharge of employment, termination in violation of public policy, discrimination, harassment, retaliation, breach of contract (both express and implied), breach of covenant of good faith and fair dealing (both express and implied), promissory estoppel, negligent or intentional infliction of emotional distress, fraud, negligent or intentional misrepresentation, negligent or