Employee and Employer Clause Samples

Employee and Employer. Any claim that Employee may have against Employer shall not constitute a defense to enforcement by Employer of this Agreement.

Employee and Employer expressly acknowledge that the entire agreement is contained in this Settlement Agreement and Release and no representations, promises, or inducements have been made by or to Employee other than as appear in this Settlement Agreement and Release. The parties understand and agree that this Settlement Agreement and Release may not be changed orally. This Settlement Agreement and Release supersedes all prior agreements and understandings concerning the subject matter hereof, including, but not limited to, Employee’s employment with Employer.

Employee and Employer acknowledge and agree that Employer has expended substantial amounts of time, money and effort to develop business strategies, customer relationships, employee relationships, trade secrets and goodwill and to build an effective organization and that Employer has a legitimate business interest and right in protecting those assets as well as any similar assets that Employer may develop or obtain. Employee and Employer acknowledge that Employer is entitled to protect and preserve the going concern value of Employer and its business and trade secrets to the extent permitted by law. Employee acknowledges and agrees the restrictions imposed upon Employee under this Agreement are reasonable and necessary for the protection of Employer’s legitimate interests, including Employer’s Confidential Information, intellectual property, trade secrets and goodwill. Employee and Employer acknowledge that Employer is engaged in a highly competitive business, that Employee is expected to serve a key role with Employer, that Employee will have access to Employer’s Confidential Information, that Employer’s business and customers and prospective customers are located around the world, and that Employee could compete with Employer from virtually any location in the world. Employee acknowledges and agrees that the restrictions set forth in this Agreement do not impose any substantial hardship on Employee and that Employee will reasonably be able to earn a livelihood without violating any provision of this Agreement. Employee acknowledges and agrees that, in addition to Employer’s agreement to hire her, part of the consideration for the restrictions in this Section 1 consists of Employer’s agreement to make severance payments as set forth in the separate Employment Agreement between Employer and Employee.

Employee and Employer agree that they shall keep the terms of this Agreement entirely confidential, except as and to the extent required to be disclosed by applicable law, code or regulation.

Employee and Employer. If Employee and Employer are unable to agree upon a single firm to make such determination, Employee and Employer shall each select one firm and the firms selected shall appoint a third firm to make the determination. The fees and expenses of any firm mutually agreed upon by Employee and Employer shall be borne by Employer. The fees and expenses of firms selected by Employee and Employer if no agreement is reached shall be borne by the party selecting such firm, with the fees and expenses of the third firm selected being shared equally by Employee and Employer. The determination of the accounting firm or firms shall be conclusive and binding on Employer and Employee.

Employee and Employer acknowledge that they have read this entire Agreement and that they understand the nature of the foregoing restrictions, and that the parties are signing this Agreement willingly and without duress.

Employee and Employer agree that upon the execution of this Agreement, Employer shall give the Employee the following: - the sum of $25,000 which constitutes a compromise and settlement of Employee's disputed claim for wages due under the parties' employment contract; - the sum of $25,000 which constitutes a compromise and settlement of various disputed personal injury claims, including emotional distress, that Plaintiff has raised or threatened to raise; - payment for all outstanding expense reports submitted by Employee as of the date of the execution of this Agreement; - forgiveness of the loan it made to Employee in the amount of $25,000 The payment of the above sums, the forgiveness of the loan, and the payment of Employee's expenses shall constitute full and final settlement of the parties' employment relationship and shall terminate all obligations that Employer may have had under the parties' Employment Agreement or otherwise under Tennessee or federal law.

Employee and Employer acknowledge that any breach or threatened breach by Employee of the provisions of this Section 3 may cause irreparable harm to Employer, which harm may not be fully redressed by the payment of damages to Employer. In addition, Employee and Employer acknowledge that Employer may be entitled, in addition to any other right and remedy it may have, at law or in equity, to an injunction, enjoining or restraining Employee from any violation or threatened violations of this Section 3. Employee Initials and Date: __________________

Employee and Employer their respective attorneys and --------------- other agents, agree not to disclose or cause the disclosure of the monetary or other terms of settlement, other than as required by law or as necessary for the preparation of income tax returns and other tax-related matters, or as necessary in the normal course of business for the Employer to perform its obligations under this Agreement. Any such disclosure shall be considered a breach of this Agreement resulting in damage to Employer or Employee, as pertinent.