FROM, ANY AND ALL PAST OR PRESENT CAUSES OF ACTION, SUITS, AGREEMENTS
OR OTHER CLAIMS WHICH THE EXECUTIVE, HIS DEPENDENTS, RELATIVES, HEIRS,
EXECUTORS, ADMINISTRATORS, SUCCESSORS AND ASSIGNS HAS OR MAY HEREAFTER HAVE FROM
THE BEGINNING OF TIME TO THE DATE HEREOF AGAINST DUKE ENERGY OR THE DUKE
RELEASES UPON OR BY REASON OF ANY MATTER, CAUSE OR THING WHATSOEVER, INCLUDING,
BUT NOT LIMITED TO, ANY MATTERS ARISING OUT OF HIS EMPLOYMENT BY THE AFFILIATED
ENTITIES, AND THE CESSATION OF SAID EMPLOYMENT OR ANY CLAIM FOR COMPENSATION,
AND INCLUDING, BUT NOT LIMITED TO, ANY ALLEGED VIOLATION OF THE CIVIL RIGHTS
ACTS OF 1964 AND 1991, THE EQUAL PAY ACT OF 1963, THE AGE DISCRIMINATION IN
EMPLOYMENT ACT OF 1967, THE REHABILITATION ACT OF 1973, THE EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, THE OLDER WORKERS BENEFIT PROTECTION ACT OF 1990,
THE AMERICANS WITH DISABILITIES ACT OF 1990, THE NORTH CAROLINA EQUAL EMPLOYMENT
PROTECTION ACT AND ANY OTHER FEDERAL, STATE OR LOCAL LAW, REGULATION OR
ORDINANCE, OR PUBLIC POLICY, CONTRACT OR TORT LAW HAVING ANY BEARING WHATSOEVER
ON THE TERMS AND CONDITIONS OF EMPLOYMENT OR TERMINATION OF EMPLOYMENT.
THE
RELEASE SHALL NOT, HOWEVER, CONSTITUTE A WAIVER OF ANY OF THE EXECUTIVE'S RIGHTS
TO COMPENSATION AND BENEFITS DUE UNDER THIS AGREEMENT.
B.
THE EXECUTIVE ACKNOWLEDGES THAT HE HAS RECEIVED A COPY OF THIS
AGREEMENT PRIOR TO ITS EXECUTION AND HAS BEEN ADVISED HEREBY OF HIS OPPORTUNITY
TO REVIEW AND CONSIDER THE RELEASE FOR 21 DAYS PRIOR TO ITS EXECUTION.
THE
EXECUTIVE FURTHER ACKNOWLEDGES THAT HE HAS BEEN ADVISED HEREBY TO CONSULT WITH
AN ATTORNEY PRIOR TO EXECUTING THIS AGREEMENT.
THE EXECUTIVE ENTERS INTO THIS
AGREEMENT HAVING FREELY AND KNOWINGLY ELECTED, AFTER DUE CONSIDERATION, TO
EXECUTE THIS AGREEMENT AND TO FULFILL THE PROMISES SET FORTH HEREIN.
THE
RELEASE SHALL BE REVOCABLE BY THE EXECUTIVE DURING THE SEVEN-DAY PERIOD
FOLLOWING ITS EXECUTION, AND SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE
EXPIRATION OF SUCH SEVEN-DAY PERIOD.
IN THE EVENT OF SUCH A REVOCATION, THE
EXECUTIVE SHALL NOT BE ENTITLED TO THE CONSIDERATION UNDER THIS AGREEMENT SET
FORTH IN PARAGRAPHS 2, 3 AND 4.
C.
THE EXECUTIVE REPRESENTS AND WARRANTS THAT THERE HAS BEEN NO
ASSIGNMENT OR OTHER TRANSFER OF ANY INTEREST IN ANY CLAIM WHICH THE EXECUTIVE
MAY HAVE AGAINST DUKE ENERGY OR ANY OF THE DUKE RELEASES. THE EXECUTIVE
REPRESENTS THAT HE HAS NOT COMMENCED OR JOINED IN ANY CLAIM, CHARGE, ACTION OR
PROCEEDING WHATSOEVER AGAINST DUKE ENERGY OR ANY OF THE DUKE RELEASES ARISING
OUT OF OR RELATING TO ANY OF THE MATTERS SET FORTH IN THIS RELEASE. THE
EXECUTIVE FURTHER AGREES THAT HE WILL NOT SEEK OR BE ENTITLED TO ANY PERSONAL
RECOVERY IN ANY CLAIM, CHARGE, ACTION OR PROCEEDING WHATSOEVER AGAINST DUKE
ENERGY OR ANY OF THE DUKE RELEASES FOR ANY OF THE MATTERS SET FORTH IN THE
RELEASE.
D.
THE EXECUTIVE ACKNOWLEDGES THAT, IN HIS DECISION TO ENTER INTO THIS
AGREEMENT, INCLUDING THE RELEASE, HE HAS NOT RELIED ON ANY REPRESENTATIONS,
PROMISES OR AGREEMENTS OF ANY KIND, INCLUDING ORAL STATEMENTS