This AGREEMENT (hereinafter referred to as the "Agreement") is made effective this _____ day of _______________, 200__ by and between ____________________, located at ________________________________________ and its parents, subsidiaries, affiliates, principals, members, managers, employees, former employees, representatives, counsel and/or agents (hereinafter referred to as the "Expellee") and ____________________, located at ________________________________________ (hereinafter referred to as the "Company").
WITNESSETH:
Reference is hereby made to the General Partnership Agreement, dated _______________, 200__, between _____PARTNER_____, _____PARTNER_____, _____PARTNER_____, and _____PARTNER_____.
The claims of all of the parties with respect to the Company have been resolved, and the parties hereby enter into this Release Agreement in full settlement and full satisfaction of all such issues. Upon execution hereof, Expellee shall withdraw as a member of the Company, and they shall release any and all interest that they may have in and/or to the Company, its assets, its units of membership interest, its contracts, its trademarks, and any rights of any nature whatsoever in and to the Company. Accordingly, Expellee and the Company agree as follows:
1. Upon the date hereof, Expellee shall have no further obligation perform any services of whatever nature for the Company, and the Company shall have no further obligation compensate Expellee in any form of whatever nature, except as specifically provided herein. Expellee further agrees that they shall have no further right or interest of any nature whatsoever in or to the Company, they shall have no right to make any decisions on behalf of the Company, they shall have no authority to act on behalf of the Company, and they shall have no right to hold or to receive any issuance of units of membership interest of the Company, or to be a manager or a member, or to hold any equity in the Company whatsoever...
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