Severance Agreement And General Release Page 5
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10You therefore waive all unknown, unanticipated, unsuspected and
undisclosed claims, liens, demands or liabilities, as well as those, which are
known, anticipated, suspected or disclosed.
10.
Return of Company Property. You agree, warrant and covenant that prior
to signing this agreement you: (1) returned all 8x8 property of any kind (including, but
not limited to, equipment, keys, credit cards, computers, telephones cellular/mobile
phones and devices, files, documents, digital materials, etc.) in your possession, custody
or control before signing this Agreement, (2) have not kept any copies (digital, paper or
in any other form whatsoever) of any 8x8 property and (3) that you have not provided
any such copies to any other person or entity. If you need access to any 8x8 property to
perform any obligations under this Severance Agreement, that access will be provided to
you at and for the time period necessary for you to complete your obligations.
11.
Certification of No Work-Related Injuries.
You agree, warrant and
covenant that you have not knowingly experienced or suffered any work-related
occupational injuries or diseases (physical, mental or otherwise) arising out of or in the
course of your employment with 8x8 and certify that you has not failed to report any
work-related occupational injuries or diseases arising out of or in the course of your
employment with 8x8.
12.
Internal Revenue Code Section 409A.
This Severance Agreement is
intended to comply with the short-term deferral rule under Treasury Regulation Section
1.409A-1(b)(4) and be exempt from Code Section 409A, and shall be construed and
interpreted in accordance with such intent, provided that, if any payment provided at any
time hereunder involves non-qualified deferred compensation within the meaning of
Code Section 409A, it is intended to comply with the applicable rules with regard thereto
and shall be interpreted accordingly.
In no event may you designate, directly or
indirectly, the calendar year of any payment to be made under this Severance Agreement
that is considered non-qualified deferred compensation. In the event the time period for
considering any general release and it becoming effective as a condition of receiving a
severance benefit shall overlap two calendar years, no amount of such severance shall be
paid in the earlier calendar year. 8x8 does not guarantee that tax treatment of any
payment or benefits made under this Severance Agreement, and you shall be responsible
in any event for any taxes or penalties due under federal or state tax laws due to payments
made hereunder. If you are deemed to be a specified employee within the meaning of
that term under Code Section 409A(a)(2)(B), then with regard to any payment that is
considered non-qualified deferred compensation under Code Section 409A payable on
account of a separation from service (as defined under Treasury Regulation § 1.409A-
1(h)), such payment or benefit shall be made or provided at the date which is the earlier
of (A) the date that is immediately following the expiration of the six (6)-month period
measured from the date of such separation from service, or (B) the date of your death
(the Delay Period ). Upon the expiration of the Delay Period, all payments and benefits
delayed pursuant to this paragraph (whether they would have otherwise been payable in a
single sum or in installments in the absence of such delay) shall be paid or reimbursed to
you in a lump sum (without interest), and any remaining payments and benefits due under
this Severance Agreement shall be paid or provided in accordance with the normal
payment dates specified for them herein.
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K.N. __________
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