-8-
known and unknown claims against the defendants arising out of or
related to his employment relationship with the bank and the
Nevada and Federal litigation.8
The agreement specifically provided that the bank took no
position on the tax effect of the $500,000 payment to petitioner
and would issue a Form 1099 regarding the payment. The agreement
also provided that if any governmental authority determined the
payment constituted income, petitioner would be solely
responsible for the payment of all taxes arising from the
determination. Furthermore, the agreement provided, in regard to
attorney’s fees, that--
As further mutual consideration of the promises set
forth herein, the Bank and Allum agree that they are
each responsible for their own attorneys’ fees and
costs, and each agrees that they will not seek from the
other reimbursement for attorneys’ fees and/or costs
incurred in this action or relating to any matter
addressed in this Agreement.
8The release of claims provision consisted of both
boilerplate language and, in pertinent part, the following:
This agreement includes, but is not limited to, (i)
release, waiver and discharge of any claims, * * *
damages, or injuries that Allum has pled or otherwise
claimed, or which Allum could have pled or otherwise
claimed, in any of the * * * [Nevada and Federal
litigation], (ii) release, waiver and discharge of any
claims arising from any statements * * * made or
distributed or published by any and all of the Released
Parties, prior to signing of this Agreement by Allum,
including any statements by Allum himself, and (ii)
[sic] release of any claims for any type of wages,
commissions, bonus, separation or severance benefits,
or any other form of compensation. * * *
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