Common use of Section 1542 Clause in Contracts

Section 1542. The releases set forth in Sections 1, 3 and 4 above shall be effective as a full and final accord and satisfaction and release of and from all liabilities, disputes, claims and matters covered under such releases, known or unknown, suspected or unsuspected. In furtherance of this intention, each of Executive and Company acknowledges that each has been informed of the provisions of Section 1542 of the California Civil Code, and each of them does hereby expressly waive and relinquish all rights and benefits each of them has or may ever have had under that section, which provides as follows: Having been apprised of Section 1542, each of Executive and Company waives and relinquishes any right or benefit that each of them may have under Section 1542 of the Civil Code of the State of California. In connection with such waiver and relinquishment, each of Executive and Company acknowledges that each of them may hereafter discover claims or facts in addition to or different from those that each of them now knows or believes to exist with respect to Executive or the Company, as applicable, or the subject matter of the releases, but that it is the intention of each of them hereby fully, finally and forever to settle and release all of the matters, disputes and differences, known and unknown, suspected or unsuspected, which now exist, may exist, or heretofore have existed, between each of them, except as otherwise provided in such releases. In furtherance of this intention, the releases herein shall be and remain in effect as a full and complete general releases (except as otherwise provided in such releases) notwithstanding the discovery or existence of any such additional or different claims or facts.