Severance Agreement and Release of Claims

This Severance Agreement and Release of Claims (the “Agreement”) is entered into between ACME Resources LLC, a TX LLC (the “Company”), and (the “Employee”). The Employee’s employment ends effective (the “Separation Date”).

1. Final Wages and Separation

Regardless of whether the Employee signs this Agreement, the Company will pay the Employee all earned but unpaid wages and any accrued, unused paid time off owed under law or policy through the Separation Date, on the schedule required by applicable law. The Employee acknowledges that, after such payment, the Employee is owed no further wages, bonuses, commissions, or other compensation except as set out below.

2. Severance Benefits

In exchange for the Employee’s promises in this Agreement, and provided the Employee signs and does not revoke it, the Company will provide:

• Severance pay totaling , paid over month(s) in accordance with the Company’s normal payroll cycle, less applicable withholdings, beginning after this Agreement becomes effective; and
• Benefits continuation: , after which the Employee may continue group health coverage at the Employee’s own expense to the extent permitted by COBRA or applicable state continuation law.

The Employee acknowledges that these severance benefits are consideration to which the Employee would not otherwise be entitled.

3. General Release of Claims

In exchange for the severance benefits, the Employee, on behalf of the Employee and the Employee’s heirs and assigns, fully releases and discharges the Company and its officers, directors, employees, agents, affiliates, successors, and assigns from any and all claims, demands, and causes of action, known or unknown, arising on or before the date the Employee signs this Agreement, including claims relating to the Employee’s employment or its termination. This release covers, to the fullest extent permitted by law, claims under Title VII of the Civil Rights Act, the Age Discrimination in Employment Act (ADEA), the Americans with Disabilities Act, the Family and Medical Leave Act, and all other federal, state, and local employment laws, as well as common-law claims.

This release does not waive: (a) claims that cannot be waived by law; (b) the right to file a charge with, or participate in an investigation by, a government agency (though the Employee waives any individual monetary recovery); (c) vested benefits; or (d) the right to enforce this Agreement.

4. Review and Revocation Period

The Employee is advised to consult an attorney before signing. The Employee has days to consider this Agreement and may revoke it within seven (7) days after signing by delivering written notice of revocation to the Company. This Agreement is not effective until the revocation period expires without revocation (the “Effective Date”).

5. Continuing Obligations and Confidentiality

The Employee reaffirms all continuing obligations regarding confidentiality, non-disparagement, and assignment of inventions under any prior agreement, and will keep the terms of this Agreement confidential except as required by law or as needed to enforce it or to consult with the Employee’s attorney, tax advisor, or immediate family. The Employee will return all Company property and confidential information on or before the Separation Date. Nothing in this Agreement limits the Employee’s right to report possible violations of law to a government agency or to discuss wages or terms of employment as protected by law.

6. No Admission; Entire Agreement; Governing Law

This Agreement is not an admission of liability by either party. It is the entire agreement between the parties on its subject matter, supersedes prior discussions regarding severance, and may be amended only in a writing signed by both parties. It is governed by the laws of the State of TX and may be signed in counterparts, including by electronic signature.

ACME Resources LLC

Name: Michael Yuan
Title: General Manager
Date:

 

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