ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO
EXECUTION OF THIS AGREEMENT AND SHE HAS OBTAINED COUNSEL OF HER OWN
CHOOSING.
HAVING ELECTED TO EXECUTE THIS AGREEMENT, TO FULFILL THE PROMISES SET
FORTH HEREIN, AND TO RECEIVE THEREBY THE SUMS AND BENEFITS SET FORTH IN THIS
AGREEMENT, HANCE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO
THIS AGREEMENT INTENDING TO WAIVE, SETTLE AND RELEASE ALL KNOWN AND UNKNOWN
CLAIMS SHE HAS OR MIGHT HAVE AGAINST MAGYAR.
IN WITNESS WHEREOF, the parties have knowingly and voluntarily executed this
Separation Agreement and General Release as of the date and year first above
written.
MAGYAR BANCORP
By:
/s/ Joseph J. Lukacs, Jr.
Name: Joseph J. Lukacs, Jr.
Title: Chairman
EMPLOYEE:
/s/ Elizabeth E. Hance
ELIZABETH E. HANCE
STATE OF NEW JERSEY:
:SS.:
COUNTY OF Mercer:
On this 22 day of December, 2009, before me, the undersigned, personally
appeared ELIZABETH E. HANCE who, I am satisfied, is the person who signed the
foregoing instrument, and she did acknowledge that she signed, sealed and
delivered the same as her voluntary act and deed for the uses and purposed
expressed in the instrument.
Edna M. Horan
Notary Public
38