its validity under the OWBPA and/or the ADEA, nothing
in this Agreement shall be construed to prohibit ITT from recovering from
Waddles its attorney's fees and/or costs specifically authorized under the ADEA
or any other law.
Furthermore, in the event Waddles successfully challenges
this Agreement under the OWBPA and prevails on the merits in an ADEA action
against ITT, he agrees that the court in such action may determine that ITT is
entitled to restitution, recoupment or setoff (hereinafter "reduction") against
any monetary award.
Moreover, he agrees that the reduction in such ADEA action
shall not exceed the lesser of:
(a) the amount recovered by him in such action;
or (b) the payments made to him and on his behalf under this Agreement.
8.
PERIOD TO CONSIDER AGREEMENT.
WADDLES UNDERSTANDS THAT HE HAS
TWENTY-ONE (21) CALENDAR DAYS FROM THE DAY THAT HE RECEIVES THIS AGREEMENT, NOT
COUNTING THE DAY UPON WHICH HE RECEIVED IT, TO CONSIDER WHETHER HE WISHES TO
SIGN THIS AGREEMENT.
IF HE SIGNS THIS AGREEMENT BEFORE THE END OF THE
TWENTY-ONE (21) CALENDAR DAY PERIOD, IT WILL BE HIS PERSONAL AND VOLUNTARY
DECISION TO DO SO.
WADDLES ALSO UNDERSTANDS THAT IF HE DOES NOT DELIVER THIS
AGREEMENT TO ITT'S GENERAL COUNSEL WITHIN SAID PERIOD OF TIME, IT SHALL BE
DEEMED TO BE WITHDRAWN BY ITT.
9.
WADDLES' RIGHT TO REVOKE AGREEMENT.
WADDLES UNDERSTANDS THAT
HE MAY REVOKE THIS AGREEMENT AT ANY TIME WITHIN SEVEN (7) CALENDAR DAYS AFTER HE
SIGNS IT, NOT COUNTING THE DAY UPON WHICH HE SIGNS IT.
THIS AGREEMENT WILL NOT
BECOME EFFECTIVE OR ENFORCEABLE, UNLESS AND UNTIL THE SEVEN (7) CALENDAR DAY
REVOCATION PERIOD HAS EXPIRED WITHOUT REVOCATION BY HIM.
10.
PROCEDURE TO ACCEPT OR REVOKE AGREEMENT.
TO ACCEPT THE TERMS OF
THIS AGREEMENT, WADDLES MUST DELIVER THE AGREEMENT, AFTER IT HAS BEEN SIGNED AND
DATED BY HIM, TO ITT'S GENERAL COUNSEL, BY HAND OR BY MAIL, AND IT MUST BE
RECEIVED BY THE GENERAL COUNSEL WITHIN THE TWENTY-ONE (21) CALENDAR DAY PERIOD
THAT WADDLES HAS TO CONSIDER THIS AGREEMENT.
TO REVOKE HIS ACCEPTANCE, WADDLES
MUST DELIVER A WRITTEN, SIGNED STATEMENT THAT HE REVOKES HIS ACCEPTANCE TO ITT
BY HAND OR BY MAIL AND ANY SUCH NOTICE OF REVOCATION MUST BE RECEIVED BY ITT'S
GENERAL COUNSEL AND ITS EMPLOYMENT LAW COUNSEL (MICHAEL A. BLICKMAN, ICE MILLER,
ONE AMERICAN SQUARE, BOX 82001, INDIANAPOLIS, IN 46282) WITHIN SEVEN (7)
CALENDAR DAYS AFTER HE SIGNS THE AGREEMENT.
11.
WADDLES' REPRESENTATIONS.
WADDLES HAS READ THIS AGREEMENT CAREFULLY
AND HE UNDERSTANDS ALL OF ITS TERMS.
IN AGREEING TO SIGN THIS AGREEMENT,
WADDLES HAS NOT RELIED ON ANY STATEMENTS OR EXPLANATIONS MADE BY ITT, EXCEPT AS
SPECIFICALLY SET FORTH IN THIS AGREEMENT.
WADDLES IS VOLUNTARILY RELEASING ANY
CLAIMS AGAINST ITT, AND HE UNDERSTANDS THAT IN CONSIDERATION OF ACCEPTING THE
CONSIDERATION
A-5
described above, he may be giving up possible future administrative and/or legal
claims.
Waddles also understands and agrees that this Agreement contains all of
the agreements between ITT and him relating to the matters included in this