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lump-sum payment and benefits pursuant to the ITO-II Program.
The release was broadly written and covered any and all possible
and potential claims in contract or in tort arising from
employment or termination of employment. Pertinent sections of
the release read as follows:
In exchange for the sums and benefits which you will
receive pursuant to the terms of the * * * [ITO-II
Program], [you agree] to release * * * [IBM] from all
claims, demands, actions or liabilities you may have
against IBM of whatever kind, including but not limited
to those which are related to your employment with IBM
or the termination of that employment. * * * You also
agree that this release covers, but is not limited to,
claims arising 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.
This release does not include your vested rights, if
any, in the IBM Retirement Plan, which survive
unaffected by this release.
* * * * * * *
3. This release does not waive any claims that you
may have which arise after the date you sign this
release.
* * * * * * *
6. In the event of rehire by IBM or any of its
subsidiaries as a regular employee, you understand
that IBM reserves the right to require repayment
of a prorated portion of the ITO-II Program
payment. The amount of repayment will be based on
the number of weeks off the IBM payroll compared
with the number of weeks' salary used to calculate
your payment.
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Last modified: May 25, 2011