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from the Age Discrimination in Employment Act of 1967,
as amended, Title VII of the Civil Rights Act of 1964,
as amended, and any other federal or state law dealing
with discrimination in employment on the basis of sex,
race, national origin, religion, disability, or age.
You also agree that this release includes claims based
on theories of contract or tort, whether based on
common law or otherwise. * * *
* * * * * * *
You acknowledge and agree that:
1. The benefits provided pursuant to the ITO II
Program constitute consideration for this release, in
that there are benefits to which you would not have
been entitled had you not signed this release.
* * * * * * *
3. This release does not waive any claims you may have
which arise after the date you sign this release.
None of the petitioners filed a claim of any type against IBM
either prior to signing the Release or at any other time.
Section 104(a)(2) provides that "gross income does not
include * * * the amount of any damages received (whether by suit
or agreement and whether as lump sums or as periodic payments) on
account of personal injuries or sickness". Sec. 1.104-1(c),
Income Tax Regs. explains that the term "damages received" "means
an amount received * * * through prosecution of a legal suit or
action based upon tort or tort type rights, or through a
settlement agreement entered into in lieu of such prosecution."
Petitioners' "Oppositions" do not allege, nor does the record
otherwise show, that any petitioner ever made any formal or
informal claim against IBM. It therefore appears that there were
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Last modified: May 25, 2011