Common use of Releases and Indemnification Clause in Contracts

Releases and Indemnification. (a) In further consideration of the obligations of ▇▇▇▇▇ set forth in this Agreement, Foilmark, on behalf of its predecessors, successors, assigns, subsidiaries, officers, directors, shareholders, employees, agents and representatives (hereinafter the "RELEASORS"), hereby releases and forever discharges ▇▇▇▇▇, his representatives, agents, heirs, successors, assigns, and estate, (hereinafter the "RELEASEES") and agrees to indemnify him and them and hold him and them harmless from any and all actions or causes of action, suits, claims, complaints, contracts, liabilities, agreements, promises, debts and damages, whether existing or contingent, known or unknown, which the RELEASORS or any other person or entity has, had, or ever had against any of the RELEASEES or any of them, including without limitation any action taken or not taken by ▇▇▇▇▇ as a director, officer, stockholder or employee of Foilmark, Franklin, or Kensol Olsenmark, Inc. from the beginning of this world to the present, and any obligation arising out of the closing documentation relating to the sale of ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ Pacific Machine and Manufacturing Company, Inc., and various machinery to Foilmark or its predecessor on or about February 21, 1992. (b) In consideration of the promises and agreements of Foilmark herein contained, ▇▇▇▇▇, on behalf of himself, his heirs, administrators and assigns, hereby releases and forever discharges Foilmark, its officers, directors, subsidiaries, successors and assigns from any and all actions, causes of action, suits, claims, complaints, contracts, liabilities, agreements, promises, debts, damages, whether existing or contingent, known or unknown, which ▇▇▇▇▇ has had or ever had against Foilmark or any of the foregoing persons arising out of or relating to his Employment Agreement. Nothing in this paragraph 10 shall be deemed to release Foilmark from its obligations under this Non-Competition Agreement.

Releases and Indemnification. (a) In further consideration of the obligations of ▇▇▇▇▇ set forth in this AgreementSubject to Section 3 below, FoilmarkLFC, on behalf of itself and its current and former officers, directors, employees, agents, stockholders (other than BWSC), attorneys, subsidiaries, predecessors, successors and assigns, or anyone claiming by, through, or under them, hereby releases, relinquishes and forever discharges BWSC, its current and former parents, subsidiaries (including, without limitation, WFASC), affiliated companies (with the exception of LFC), and their respective predecessors, successors, assigns, subsidiaries, and all their respective current and former officers, directors, shareholders, employees, agents and representatives (hereinafter the "RELEASORS"), hereby releases and forever discharges ▇▇▇▇▇, his representatives, agents, heirsstockholders, successorsattorneys, assignsheirs and representatives, from and estate, (hereinafter the "RELEASEES") and agrees to indemnify him and them and hold him and them harmless from against any and all actions Indemnifiable Losses arising out of or causes of actionin any way connected with, suitsdirectly or indirectly, claimsany acts, complaintsomissions to act, contracts, liabilities, agreements, promises, debts and damages, whether existing or contingent, known or unknown, which the RELEASORS or any other person form of obligation or entity hasomission by BWSC, had, or ever had against any of the RELEASEES or any of themits aforementioned privies, including without limitation related to any action taken or not taken by ▇▇▇▇▇ as a directorclaim, officer, stockholder or employee of Foilmark, Franklinliability, or Kensol Olsenmark, Inc. from the beginning of this world to the present, and any obligation arising out of the closing documentation relating or related to the sale operations of ▇▇▇▇▇▇▇▇WFASC or any claim, ▇▇▇▇▇▇▇▇ Pacific Machine liability, or obligation which has been or could be raised under the Contribution Agreement, including, without limitation, all cargo claims, cargo liabilities and Manufacturing Companycargo obligations (including, Inc.without limitation, any claims previously made under notice letters from LFC to BWSC dated April 17, 1998, May 21, 1998, September 17, 1998 and November 20, 1998), which LFC or any of its aforementioned privies, and various machinery to Foilmark or its predecessor on or about February 21, 1992. (b) In consideration of the promises and agreements of Foilmark herein contained, ▇▇▇▇▇, on behalf of himself, his heirs, administrators and assigns, hereby releases and forever discharges Foilmark, its officers, directors, subsidiaries, their respective successors and assigns from ever had, now have, or hereafter may have, whether grounded in tort or contract or otherwise, in any and all actionscourts or other forums, causes of action, suits, claims, complaints, contracts, liabilities, agreements, promises, debts, damageswhatever kind or nature, whether existing or contingent, known or unknownunknown (collectively, which ▇▇▇▇▇ has had or ever had against Foilmark or "Released Claims"). LFC agrees to defend and indemnify BWSC, and all of its aforementioned privies, for any of the Released Claims made by any third party and BWSC agrees to provide LFC with prompt written notice of any such third party claim. Furthermore, for any third party claim that LFC accepts the obligation to defend and indemnify BWSC and all of its aforementioned privies under this section, LFC has the right to control the defense or settlement of such third party claim; provided, however, LFC will not agree to settle any third party claim in a manner which would result in any additional cost, expense, liability or loss to BWSC or the aforementioned privies. Notwithstanding anything to the contrary herein, the foregoing persons arising out of release shall not extend to or relating to his Employment Agreement. Nothing in this paragraph 10 shall be deemed construed to release Foilmark from its the Parties' obligations under this Non-Competition Settlement Agreement.