Document:

Separation & Release Agreement for Duane Huesers dated December 27,2005

 Exhibit 10.16 
 Separation and Release Agreement for Duane Huesers dated December 27, 2005 
 December 27, 2005

 SEPARATION AND RELEASE AGREEMENT 
 THIS SEPARATION AND RELEASE AGREEMENT (hereinafter referred to as “Agreement”) is made and entered into by DUANE A. HUESERS (hereinafter referred to as “Huesers”), and COLDWATER CREEK INC., its
successors, assigns, subsidiaries, related companies, directors, officers, owners, shareholders, managers, employees, agents, insurers, attorneys, accountants, affiliates, benefit plans, benefit administrators and providers, and control persons
(hereinafter collectively referred to as “CWC” except as otherwise specifically noted). 
 WHEREAS, Huesers and CWC desire to
settle fully and finally any and all differences between them that have or might arise out of Huesers’ employment with CWC; 
 NOW, THEREFORE, in
consideration of the mutual promises set forth herein, it is agreed as follows: 
 1. Huesers has submitted a written resignation of
employment to CWC that is to be effective at the close of business on January 31, 2006. 
 2. CWC shall provide the following payment
and benefits at the time of Huesers’ separation of employment with CWC on January 31, 2006: 
 (a) Severance Payment: CWC agrees to
pay Huesers a severance payment in the amount of four (4) months of his last base salary at CWC, less applicable federal and state withholding taxes; 
 (b) Accrued Vacation: CWC shall pay Huesers all accrued, unused vacation pay through the time of his separation of employment on January 31, 2006; 
 (c) COBRA Benefits: CWC shall pay four (4) months of Huesers’ COBRA health insurance premiums following his employment separation date conditioned upon Huesers timely exercising his rights and
necessary paperwork to obtain COBRA benefits; and 
 (d) 401(k) Benefits: Huesers shall not be entitled to make or receive any 401(k)
contributions after January 31, 2006. 
 3. No benefits or compensation other than described above shall be owing by CWC to
Huesers. 
 4. Huesers agrees and acknowledges that the payments and other consideration made pursuant to this Agreement constitute valid
consideration for his release of any and all claims, and that the payments made to him exceed any payments or benefits to which Huesers may be entitled to receive from CWC. 
 5. Full Release. In consideration of the payments and benefits set forth above, Huesers, on behalf of himself and his marital community, heirs,
estates, executors, administrators, successors, and assigns DOES FULLY RELEASE AND DISCHARGE CWC from any and all claims, causes of action, judgments, obligations, damages, or liabilities of whatsoever kind and character, including,
but not limited to, all claims arising out of or relating to Huesers’ employment with CWC, or to any acts or events involving Huesers and CWC, WHETHER CURRENTLY KNOWN OR SUSPECTED, OR UNKNOWN OR UNSUSPECTED. 
  

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 Huesers represents and warrants that he has not assigned any such claims or authorized any other person or entity to
assert any such claims on Huesers’ behalf. Further, Huesers agrees that under this Agreement he waives any and all claims for damages incurred at any time after the date of this Agreement because of alleged continuing effects of any alleged
acts or omissions involving CWC which may have occurred on or before the date of this Agreement, and any right to sue CWC for monetary or injunctive relief against the alleged continuing effects of any alleged past acts or omissions occurring prior
to the date of this Agreement. No portion of this Agreement shall be construed to waive any rights or obligations of the parties under the Industrial Insurance laws for the State of Idaho. 
 HUESERS UNDERSTANDS AND EXPRESSLY AGREES THAT THIS AGREEMENT EXTENDS TO ANY AND ALL FEDERAL AND STATE LAW CLAIMS OF EVERY NATURE AND KIND
WHATSOEVER, KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED, PRESENT OR PAST, IF ANY, WHICH EXIST THROUGH THE SEPARATION OF HIS EMPLOYMENT ON JANUARY 31, 2006, INCLUDING, BUT NOT LIMITED TO, ALL CLAIMS INVOLVING SEX, SEXUAL HARASSMENT,
RETALIATION, WHISTLEBLOWER, PUBLIC POLICY WRONGFUL DISCHARGE, AGE, DISABILITY OR HANDICAP DISCRIMINATION, EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA), COBRA, WARN ACT, OR ANY CLAIMS IN TORT OR CONTRACT OR IMPLIED CONTRACT RELATED TO
HUESERS’ EMPLOYMENT OR TO ANY ALLEGED ACTS OR OMISSIONS OF CWC INVOLVING HUESERS. 
 Specifically, but without in any way limiting the
generality of the foregoing, Huesers agrees to refrain from and shall not institute, prosecute, file, process or assist or cooperate in any Human Rights Commission charges, EEOC charges, claims under the AGE DISCRIMINATION IN EMPLOYMENT ACT OF
1967 AS AMENDED, THE CIVIL RIGHTS ACT OF 1991, THE AMERICANS WITH DISABILITIES ACT, AND THE OLDER WORKERS BENEFIT PROTECTION ACT, wrongful termination or discrimination laws or any other claims or actions arising out of Huesers’
employment with CWC. Any such claims, known or unknown, are hereby knowingly waived and released. 
 6. HUESERS EXPRESSLY REPRESENTS THAT
HE HAS HAD AN OPPORTUNITY TO CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT. HUESERS REPRESENTS THAT HIS SIGNATURE BELOW CONSTITUTES AN EXPRESS REPRESENTATION THAT HUESERS UNDERSTANDS THE TERMS OF THIS AGREEMENT AND HAS VOLUNTARILY SIGNED
THIS AGREEMENT. 
 7. Huesers will not testify or give evidence in a lawsuit or any other forum concerning his affiliation or employment
with CWC unless required by law or requested in writing by an authorized official of CWC. Notwithstanding the foregoing, if Huesers is requested in writing to do so by an authorized official of CWC or under subpoena issued lawfully, he will fully
and completely cooperate with CWC in any investigation it may conduct in connection with any events which occurred while he was an employee and/or officer of CWC. Huesers shall be entitled to legal representation and indemnification provided by CWC
for claims made relating to his period of employment with CWC to the extent required and authorized for officers of CWC by the bylaws and/or articles of incorporation of CWC. 
 8. Huesers understands and agrees that effective at the end of business on January 31, 2006, Huesers is no longer authorized to incur any expense,
obligation, or liability, or make any commitment on behalf of CWC, and Huesers warrants that he will not incur any such expense, obligation, liability or commitment on behalf of CWC subsequent to such date. Any reimbursable expenses incurred by
Huesers prior to the end of business on January 31, 2006 will only be reimbursed if such expenses are properly submitted to CWC no later than February 10, 2006. 
  

 2 

 9. Huesers has returned or will immediately return to CWC all CWC property, including, but not limited
to, the following items acquired during or related to Huesers’ employment with CWC: cellular telephones; computers; reports; strategic plans; financial information; employee information; stock and shareholder information; files; memoranda;
records; software; credit cards; card key passes; door and file keys; computer access codes; computer disks and/or instruction manuals; and all other physical and personal property which Huesers received or prepared or helped to prepare in
conjunction with his employment with CWC, and Huesers warrants that he has not retained and will not retain any copies, duplicates, reproductions, or excerpts thereof. 
 10. Huesers and CWC shall not make any statements or criticism, written or oral, or take any action which is adverse to the interests of or that would cause the other injury, embarrassment or humiliation, or to cause
the other to be held in disrepute by the public or by CWC’s clients, shareholders, customers, competitors, or business partners or employees. 
 11. This Agreement shall not in any way be construed as an admission by CWC that it has acted in any manner wrongfully with respect to Huesers or to any other person, or that Huesers has any rights, other than those specifically provided
for in this Agreement, against CWC. 
 12. Huesers represents and acknowledges that in executing this Agreement he does not rely upon and has
not relied upon any representations made by CWC’s agents, representatives, or attorneys with regard to the subject matter, basis or effect of this Agreement or otherwise. 
 13. This Agreement sets forth the entire agreement between the parties hereto, and fully supersedes any and all prior arrangements, understandings, or
agreements between the parties hereto; provided, however, the parties agree that the COLDWATER CREEK INC. CONFIDENTIALITY AND INTELLECTUAL PROPERTY AGREEMENT, AND AGREEMENT FOR NON-SOLICITATION OR RECRUITMENT AND CODE OF BUSINESS CONDUCT that
was previously executed by Huesers, is incorporated herein by reference, and shall remain in full force and effect for the periods set forth therein. 
 14. The provisions of this Agreement are severable. If any part of the Agreement is found to be unenforceable, the other parts shall remain fully valid and enforceable. 
 15. This Agreement is governed by the laws of the State of Idaho. Venue of any dispute over the terms of this Agreement shall be in Bonner County. The
prevailing party to any lawsuit concerning the violation or breach of this Agreement shall be entitled to recover reasonable attorney’s fees and costs. 
 16. Huesers shall have seven (7) days from his execution and return of this Agreement to CWC to revoke it by written notice delivered to Greg Dieffenbach of CWC. No payments or benefits under this Agreement shall
be provided to Huesers until this revocation period has expired without revocation. 
  

 3 

 IN WITNESS WHEREOF, this Agreement has been executed on the 16th day of January, 2006. 
  

			
	 /s/ Duane A. Huesers

	DUANE A. HUESERS
	
	COLDWATER CREEK INC.
		
	By:	 	 /s/ Greg Dieffenbach

	Title:	 	VP Human Resources

  

 4 

 OLDER WORKERS BENEFIT PROTECTION ACT NOTICE 
 I hereby acknowledge that: 
 1. COLDWATER
CREEK INC. (“Company”), has provided me a copy of the Release and Severance Agreement dated December 27, 2005, in the upper right hand corner of the first page (“Agreement”) for review. 
 2. I have been advised by Company that I have the right to consult with an attorney prior to entering into the Agreement. 
 3. My right to receive severance pay and benefits pursuant to the Agreement is conditional on my prior execution and return of the Agreement. 

4. I have twenty-one (21) days from the date hereof to consider whether to accept the Agreement. While it is my right to accept, enter into, and
execute the Agreement before the end of the 21-day period, I am under no obligation to do so. However, by returning the signed Agreement prior to the expiration of the 21-day period, I will have voluntarily terminated that required period for
considering the Agreement. I acknowledge that the Agreement shall be considered withdrawn if not signed within the 21-day consideration period. 
 5. By signing the Agreement, I am expressly waiving any and all claims I may have against the parties set forth in the Agreement, including claims under the Age Discrimination in Employment Act (“ADEA”). 
 6. I have the right to revoke the Agreement for a period of seven (7) days following my execution of the same. If I do not revoke the Agreement as
provided in this paragraph, it will become binding and enforceable seven (7) days following the date it is signed by me. 
 PLEASE READ
CAREFULLY. THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
 ACKNOWLEDGMENT OF RECEIPT 
 I hereby acknowledge receipt of a copy of the Release and Severance Agreement on the date indicated below. I further acknowledge that I have read the
foregoing notice and understand its terms. 
  

					
	 /s/ Duane A. Huesers
	 		 	Date: January 16, 2006
	DUANE A. HUESERS	 		 	

  

 5Employment Agreement

 Exhibit 10.1 
 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 1 
  

 EMPLOYMENT AGREEMENT 
 between 
 PEAK INTERNATIONAL LIMITED 
 and 
 MICHAEL BINGHAM 
 Term: April 10, 2006 to May 31, 2007 

 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 2 
  

 THIS AGREEMENT is made this 10th day of April, 2006 between PEAK INTERNATIONAL LIMITED, a company incorporated in
Bermuda, with its principal office at 38507 Cherry Street, Newark, CA 94560 (the “Company”); and Michael Bingham, residing at 8071 Erb Way, Tracy, CA 95304 (the “Employee”). 
 The parties agree as follows: 
  

	1.	EMPLOYMENT 

  

	 	1.1.	Employee shall be employed as Senior Vice President, Sales. 

  

	2.	PAYMENT UPON TERMINATION OF EMPLOYMENT 

  

	 	2.1.	The term (“Term”) of this Agreement shall commence on April 10, 2006 and shall remain in effect until the earlier of (a) May 31, 2007 or (b) until
terminated as hereinafter provided. 

  

	 	2.2.	Employee shall be paid a monthly salary of US$13,500.00 plus a half month’s bonus and a 13th month bonus of one month’s pay if employee is employed by the Company on the
date the Company shall elect to pay such half month and 13th month bonuses in Hong Kong. In the first year, any such bonus shall be prorated based on a fraction the numerator of which is the number of days of employment by the Company during the
prior 365 days and the denominator of which is 365. 

  

	 	2.3.	Employee shall be paid the cost of reasonable housing in Hong Kong in an amount not to exceed US$5,500 per month, or, at the Company’s option, the provision of housing in lieu
of such living allowance. 

  

	 	2.4.	Employee shall be entitled to fly business class on for all air flights over five hours in length for travel on Company business during his employment with the Company.

  

	 	2.5.	Employee shall be responsible for and shall pay all income, sales, real estate, vat, duties, and other taxes of every nature whatsoever without any form of assistance or
contribution from the Company. 

  

	 	2.6.	Employee shall be based in Hong Kong and shall be entitled to participate in all Company benefit plans in effect in its Hong Kong subsidiary, Peak Plastics and Metal Products
(International) Limited, during the term of his employment with the Company or any subsidiary of the Company. 

  

	 	2.7.	 Subject to clauses 2.9 and 4, the Employee shall be entitled to a lump-sum payment in an amount equal to the greater of (a)US$40,500 or (b) 3 months base
salary at the rate in effect at the time of termination, and any accrued but unused 

 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 3 
  

	 	 
vacation pay (the “Termination Payment”) within 15 days of receipt of the general release attached hereto as Appendix I; and all of Employee’s
stock options which would have vested within 18 months of the date of termination of employment shall immediately vest in full and be fully exercisable for a period of one year from such date of termination of employment.

  

	 	2.8.	The Termination Payment shall be in full and final settlement of any rights, payments or benefits to which the Employee is entitled under any other agreement or arrangement pursuant
to which he is employed by the Company or any of its subsidiaries or affiliates other than: 

  

	 	2.8.1.	benefits pursuant to any life, disability, health, or other insurance policy or benefit plan provided by the Company or any of its subsidiaries to which Employee was a beneficiary
on the date of termination of Employee’s employment; and 

  

	 	2.8.2.	stock options issued to Employee pursuant to any stock option plan of the Company. 

  

	 	2.9.	The Employee shall not be entitled to the Termination Payment when employment is terminated in any of the following circumstances (the Employee being entitled, in such
circumstances, only to payment for accrued and unused vacation, any payments to which he is otherwise entitled pursuant to life, disability, health or other insurance plan, and to exercise any stock option to the extent otherwise vested and
exercisable under the terms of such plan and stock option agreements): 

  

	 	2.9.1.	the conviction of the Employee of a felony involving dishonesty; 

  

	 	2.9.2.	termination of the Employee for Good Cause. “Good Cause” shall mean (i) Employee’s conviction of or guilty plea to the commission of an act or acts constituting
a felony under the laws of the United States or any state thereof, (ii) action by the Employee involving personal dishonesty (including without limitation any failure to declare or pay income taxes in any jurisdiction in which Employee shall be
obligated to report income and/or to pay such taxes), theft or fraud in connection with the Employee’s duties as an officer of the Company, or (iii) a breach of any one or more material terms of this Agreement (including but not limited to
the confidentiality and non-solicitation provisions contained herein.) 

  

	 	2.9.3.	any material breach by the Employee of the terms of this Agreement that the Employee has failed to cure within 10 days of receipt of written notice of such breach from the Company;

  

	 	2.9.4.	the death of the Employee; 

 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 4 
  

	 	2.9.5.	the inability of the Employee due to ill health or physical or mental condition to perform his duties and responsibilities in the ordinary and usual manner required of a person in
the Employee’s position for 90 days in any six month period; 

  

	 	2.9.6.	the resignation by the Employee, except if such resignation is the result of a reduction by the Company of the Employee’s base salary to less than $182,250 per year.

  

	3.	CHANGE IN CONTROL 

  

	 	3.1.	“Change in Control” of the Company means any transaction or series of transactions in which any of the following occurs: 

  

	 	3.1.1.	the acquisition by any “person” (as such term is used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or
by the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of the “beneficial ownership” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities, 

  

	 	3.1.2.	the consummation of a merger or consolidation of the Company with or into any other corporation, other than a merger or consolidation that would result in the voting securities of
the Company outstanding prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power represented by the
voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or 

  

	 	3.1.3.	the consummation of a plan of complete liquidation of the Company or of the sale or disposition by the Company of all or substantially all of the Company’s assets.

  

	 	3.2.	In the event Employee’s employment with the Company is terminated in anticipation of or within two years following a Change of Control (i) by the Company without Good
Cause or (ii) by Employee with Good Reason (as defined above), then, in addition to the payments in Paragraph 2.5, above, all of Employee’s stock options shall immediately vest in full and be fully exercisable for a period of one year from
the date of Employee’s termination of employment. 

 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 5 
  

	4.	LIMITATION ON PAYMENTS 

  

	    	In the event that the payments to Employee under this Agreement (i) constitute “parachute payments” within the meaning of Section 280G of the Code, and
(ii) but for this Section 3, would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code or any similar or successor provision, then the payments shall be reduced to such lesser amount that would result in
no portion of the payments being subject to excise tax under Section 4999 of the Internal Revenue Code. Any determination required under this Section 3 shall be made by the Company’s independent accountants (the
“Accountants”), whose determination shall be conclusive and binding upon Employee and the Company for all purposes. For purposes of making the calculations required by this Section 3, the Accountants may make reasonable assumptions
and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Employee shall furnish to the Accountants such information and
documents as the Accountants may reasonably request in order to make a determination under this Section 4. 

  

	5.	CONFIDENTIALITY 

  

	 	5.1.	The Employee understands that by virtue of the Employment, the Employee has been and will be exposed to confidential information, including all ideas, information and materials,
tangible or intangible, relating to the business of the Company and its subsidiaries, their personnel (including their officers, directors, shareholders, trustees, agents, employees and contractors), their customers, clients, vendors, suppliers,
distributors, consultants, and others with whom the Company and its subsidiaries do business (“Confidential Information”). 

  

	 	5.2.	The Employee agrees not to disclose any Confidential Information obtained during the Employment for a period of 12 months after the termination of the Employment and thereafter not
to disclose the same unless the proposed recipient of the Confidential Information has entered into an undertaking with the Companyto keep the same confidential on terms no less exacting than those set out herein; and provided always that the
Employee shall not be obliged to keep confidential any Confidential Information required to be disclosed as a matter of law or to the extent that it becomes generally known to the public other than as a result of any breach by the Employee of the
terms herein. 

  

	 	5.3.	The Employee covenants and undertakes that after the termination of the Employment, the Employee 

  

	 	5.3.1.	shall not for a period of 12 months after the termination of the Employment use any Confidential Information for any purpose; 

  

	 	5.3.2.	shall not destroy, retain or take with the Employee any Confidential Information in a tangible form, which includes ideas, information or materials in written or graphic form, on a
computer disc or other medium, or otherwise stored in or available through electronic or other form (“Tangible Form”); and 

 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 6 
  

	 	5.3.3.	shall immediately deliver to the Company any Confidential Information in a Tangible Form that the Employee may then or thereafter hold or control, as well as all other property,
equipment, documents or things that the Employee was issued or otherwise received or obtained during the Employment. 

  

	6.	RESTRICTIVE COVENANTS 

  

	 	6.1.	The Employee covenants and undertakes that for a period of 12 months following the termination of the Employment for any reason, the Employee shall not: 

  

	 	6.2.	directly or indirectly induce any person who is an employee of the Company (or any of its subsidiaries) to terminate his or her employment with the Company (or any of its
subsidiaries), whether or not such termination constitutes a breach of that person’s employment contract; 

  

	 	6.3.	directly or indirectly solicit the customer or business of any person who, as at the date of termination of the Employment, is (or, within the preceding period of 12 months, was) a
client or customer of the Company or its subsidiaries, with the intention or for the purpose of supplying (or procuring the supply of) precision engineered packing materials; or 

  

	 	6.4.	directly or indirectly and whether on his own account or on account of any future employer, partner or associate, compete with the Company or otherwise engage in or provide services
related to the precision engineered semiconductor packing business (including, without limitation, the business of collecting and recycling semiconductor packing material) in Hong Kong, Singapore, Malaysia or the United States of America.

  

	7.	RELEASE 

  

	 	7.1.	In consideration of, and as an express condition precedent to, the Company’s obligation to make the Termination Payment, the Employee shall sign and deliver to the Company a
General Release in the form attached hereto as Appendix 1. 

  

	 	7.2.	The Company shall not be obliged to make the Termination Payment in the event that the General Release is not signed and delivered to the Company following termination of the
Employment. If the Employee shall fail to sign and to deliver the General Release to the Company within 15 days of receipt of notice from the Company requesting it, then, in such event, the Company shall be released of its duties and obligations
under this Agreement and the Employee shall waive or cause to be waived any claims that the Employee may have under this Agreement. 

 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 7 
  

	8.	ASSIGNMENT 

  

	 	8.1.	The rights and obligations under this Agreement shall inure to and be binding upon the parties hereto and their respective heirs, successors and assigns. 

 

	9.	NOTICES 

  

	 	9.1.	All notices and other communications provided for hereunder must be in writing and must be sent by courier to the party’s address indicated above or to such other address as
may be designated by a party by notice. 

  

	 	9.2.	Notices hereunder shall be effective when delivered. 

  

	10.	MISCELLANEOUS 

  

	 	10.1.	This Agreement shall supersede any and all prior written or oral agreements and discussions between the Employee and the Company regarding the subject matter hereof and this
Agreement contains the entire understanding of the parties in respect of the subject matter hereof. 

  

	 	10.2.	If any of the restrictions contained in this Agreement shall be void or unenforceable, then the remainder of this Agreement shall be enforced to the fullest extent permitted by law.

  

	 	10.3.	This Agreement is made in and shall be governed by and construed in accordance with the laws of the state of California. 

  

	11.	DISPUTES 

  

	    	Any dispute hereunder shall be settled by binding arbitration in Alameda County, CA in the English language before a single arbitrator pursuant to the rules of the American
Arbitration Association. Each party shall bear its own legal fees and costs. The cost of arbitration shall be paid by the Company. 

  

	12.	CODE OF ETHICS 

 The Code of Ethics of the Company is
attached hereto as Appendix II. Employee agrees to abide by the Code of Ethics, as presently in force and as amended from time to time hereafter, during his employment with the Company. 

 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 8 
  

	13.	Survival 

  

	 	13.1.	Sections 2, 3, 4, 5, 6, 7, 9, 10, and 11 shall survive the termination of this Agreement. 

  

	14.	This Agreement supersedes all prior agreements between the Company and the Employee regarding the subject matter hereof. 

 IN WITNESS WHEREOF the parties hereto have duly executed this Agreement the day and year first above written. 
  

			
		 	 /s/ Michael Bingham

		 	Michael Bingham
		
	 By
	 	 /s/ Dean Personne

		 	Dean Personne, President
		 	duly authorized for and on behalf of
		 	PEAK INTERNATIONAL LIMITED

 Employment Agreement – Michael Bingham 
 April 10, 2006 
 Page 9 
  

 APPENDIX I 
 GENERAL RELEASE 
 [Insert Date] 
 I, Michael Bingham, hereby release Peak International Limited (the “Company”) of certain duties and obligations and waive any rights or remedies that I may have
against the Company as provided in this letter. This letter is delivered pursuant to the Employment Agreement entered into between the Company and me dated April 10, 2006 (the “Employment Agreement”). 
 In consideration of the promises and mutual covenants contained in the Employment Agreement, and for good and valuable consideration, the receipt and sufficiency of
which is expressly acknowledged, I hereby: 
  

	 	1.	release and discharge the Company and its subsidiaries, and each of their respective past and present officers, directors, shareholders, managers, employees and agents, and their
respective successors and assigns (collectively the “Released Parties”), from any and all claims or demands, that I may have, whether past, present or future, against the Released Parties, statutory or otherwise, to the fullest extent
permissible by law; and 

  

	 	2.	waive the obligations, duties and liabilities that the Company may have, whether past, present or future, statutory or otherwise, to the fullest extent permissible by law; arising
out of or relating in any way to my employment with or termination of my employment with the Company. 

 This letter shall be governed by,
subject to and construed and enforced pursuant to the terms and conditions of the Employment Agreement. 
  

	
	  
 Michael Bingham

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