Document:

EX-4.1

AMENDMENT NO. 1 (this “Amendment”) dated as of March 18, 2008, to
the Rights Agreement dated as of November 6, 2001 (the “Rights Agreement”),
between NOVEN PHARMACEUTICALS, INC., a corporation organized and existing under the
laws of the State of Delaware (the “Company”) and AMERICAN STOCK TRANSFER &
TRUST COMPANY, a corporation organized and existing under the laws of the State of
New York, as Rights Agent (the “Rights Agent”).

WHEREAS the Company and the Rights Agent have previously entered into the Rights Agreement
specifying the terms of the Rights;

WHEREAS the Company has directed the Rights Agent to enter into this Amendment pursuant to
Section 26 of the Rights Agreement; and

WHEREAS capitalized terms used but not defined herein shall have the respecitve meanings
assigned to them in the Rights Agreement.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
acknowledged by this Amendment, the Company and the Rights Agent, for themselves, their successors
and assigns, agree as follows:

Section 1. Amendment to Rights Agreement. The Rights Agreement is hereby amended as
follows:

(a) The definition of “Acquiring Person” in Section 1(a) of the Rights Agreement is hereby
amended such that all references to “15%” in that definition shall be deleted and substituted with
“20%” in lieu thereof;

(b) Paragraph 3 of the “Summary of Rights to Purchase Series A Junior Participating Preferred
Stock” in Exhibit A to the Rights Agreement is hereby amended such that all references to “15%” in
that paragraph shall be deleted and substituted with “20%” in lieu thereof; and

(c) Paragraph 4 of the “Summary of Rights to Purchase Series A Junior Participating Preferred
Stock” in Exhibit A to the Rights Agreement is hereby amended such that all references to “15%” in
that paragraph shall be deleted and substituted with “20%” in lieu thereof.

Section 2. Certification. The officer of the Company executing this Amendment on
behalf of the Company hereby certifies on behalf of the Company that this Amendment complies with
the terms of Section 26 of the Rights Agreement.

Section 3. Governing Law. This Amendment shall be governed by and construed in
accordance with the law of the State of Delaware applicable to contracts to be made and performed
entirely within such State, without giving effect to any conflict of laws provision or rule.

Section 4. Execution in Counterparts. This Amendment may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to be an original, and
all such counterparts shall together constitute but one and the same instrument. This Amendment may
be executed and delivered by facsimile transmission.

Section 5. Rights Agreement as Amended. Upon the effectiveness of this Amendment, the
term “Rights Agreement” as used in the Rights Agreement shall refer to the Rights Agreement as
amended hereby.

[SIGNATURE PAGE TO FOLLOW]

1

IN WITNESS WHEREOF, the Company and the Rights Agent have caused this Amendment to be duly
executed as of the day and year first above written.

	 	 	 
	NOVEN PHARMACEUTICALS, INC.,

	by

	
 
	 	/s/ Jeff Mihm
	
 
	 	 
	
 
	 	Name: Jeff Mihm

Title: VP and General Counsel

	 	 	 

AMERICAN STOCK TRANSFER & TRUST COMPANY
 as Rights agent                 }
      By                         }
             /s/ Herbert J. Lemmer

             Name:  Herbert J. Lemmer
             Title:  Vice President
AMERICAN STOCK TRANSFER & TRUST COMPANY

	as Rights agent
	By
	/s/ Herbert J. Lemmer
	Name: Herbert J. Lemmer
	Title:	 	Vice President

2EX-10.1

March 14, 2008

MMA Mortgage Investment Corporation

621 E. Pratt St. Ste 300

Baltimore, MN 21202

Attention: Edward Feldkamp

Vice President and Treasurer

Re: Amended and Restated Credit Agreement

Ladies and Gentlemen:

Reference is made to that certain Amended and Restated Credit Agreement, dated as of November
16, 2005, as amended by Amendments dated as of December 5, 2005, December 14, 2005, March 15, 2006,
July 24, 2006, November 30, 2006 and November 30, 2007 (as so amended, the “Credit Agreement”),
between MMA Mortgage Investment Corporation (the “Borrower”) and U.S. Bank National Association
(the “Bank”). Capitalized terms used herein and not otherwise defined shall have the meanings
given in the Credit Agreement.

The Borrower has not delivered its annual audited financial statements for the fiscal year
ended December 31, 2006 (the “2006 Audited Statements”), as required to be delivered pursuant to
the Credit Agreement. At the request of the Borrower, and effective as provided below, the Bank
waives any Default or Event of Default arising from the Borrower’s failure to deliver the 2006
Audited Statements; provided that the Borrower shall deliver the 2006 Audited Statements on
or before April 30, 2008. Failure by the Borrower to deliver either the 2006 Audited Statements by
April 30, 2008 shall be deemed non-compliance with Section 4.1 of the Credit Agreement and a
Default under the Credit Agreement.

Please confirm the Borrower’s agreement to the terms and limitations of this waiver by signing
and returning a copy to the Bank, and upon receipt by the Bank of such copy, this waiver shall
become effective and shall constitute a waiver as described in Section 7.3 of the Credit Agreement.

1

MMA Mortgage Investment Corporation

March 14, 2008

Page 2

Very truly yours,

U.S. Bank National Association

By: /s/ Randall Baker 

Randall Baker

Vice President

Acknowledged and Agreed as of the date above

MMA MORTGAGE INVESTMENT CORPORATION

By: /s/ Charles M. Pinckney

Charles M. Pinckney

Chief Operating Officer

2Filed by Bowne Pure Compliance

 

Exhibit 10.1

TRANSITION AND SEPARATION
AGREEMENT

This TRANSITION AND
SEPARATION AGREEMENT (the “Agreement”) dated
               , 2008 (“Effective Date”)
between Jennifer L. Haslip (“Employee”) and Universal Technical
Institute, Inc., a Delaware corporation (the “Company”) provides:

WHEREAS, Employee
is currently employed by the Company; and

WHEREAS, Employee
has been employed by the Company for approximately ten (10) years and has
gained access to confidential information as more fully described in this
Agreement and has acquired an extensive amount of knowledge regarding the
Company’s operations, strategies and business; and

WHEREAS, the
Company has determined it is in its best interests for Employee’s
employment with the Company to terminate; and

NOW, THEREFORE, the
parties hereto agree as follows:

1. Previous
Agreement Superseded. The previous Employment and Non-Interference
Agreement between the parties dated November 30, 2003 (the “Previous
Employment Agreement”) is hereby superseded, replaced in its entirety and
considered null and void.

2. Position
During Transition. From the Effective Date of this Agreement until
March 31, 2008 (the “Transition Period”), Employee agrees to
continue to be available to the Company at her current salary and benefits, and
Employee will perform such duties as requested by Kim McWaters, President and
Chief Executive Officer. Throughout the Transition Period, Employee will
continue to report to Ms. McWaters.

3. Separation Date. Employee agrees and
acknowledges that her last day of employment with the Company shall be
March 31, 2008 (the “Separation Date”).

4. Payments
After Separation.

(a) For and in consideration of the promises and covenants
set forth herein, after the revocation period set forth on
Exhibit A, the Company agrees to pay Employee the total amount of
Three Hundred and Ninety Thousand dollars ($390,000), less applicable local,
state and federal withholdings. This amount shall be payable in thirty-nine
bi-weekly payments pursuant to the Company’s normal payroll practices, in
the gross amount of Ten Thousand dollars ($10,000), less applicable local,
state and federal withholdings.

 

 

 

(b) For fiscal year 2008, Employee will be entitled to an
annual bonus, pro-rated based on a separation date of March 31, 2008, if:
(a) such a bonus is approved by UTI’s Board of Directors as payable
to all current employees, and (b) Employee signs, returns, and does not
revoke the Release attached as Exhibit A. The 2008 bonus, if
payable, will be paid during December 2008, or such other time as paid to all
other employees, and the bonus, if any, will be based on the performance
metrics previously established by the Board of Directors (or any subsequent
changes that benefit Employee).

5. Benefits. Employee’s current medical and
dental benefits will continue pursuant to Company policy, until March 31,
2008. Beginning on the first day that active employee coverage is ineffective,
Employee may elect to continue current medical and dental benefits for up to
eighteen (18) months in accordance with any applicable plan provisions and
the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), and
Employee will be responsible for paying any COBRA premiums. The Company will
pay Employee the equivalent value of medical, dental, and Execucare benefits
for a period of eighteen (18) months following the Transition Period,
which totals Twenty-Eight Thousand Six Hundred Eighty-Six dollars ($28,686),
less withholdings, to be paid to Employee in two equal installments. The first
installment ($14,343) will be paid within ten (10) business days after
expiration of the revocation period set forth in Exhibit A and the second
installment ($14,343) will be paid on or about December 31, 2008.

6. Stock
Awards. All stock Awards (as defined by any applicable Plan), including
stock options and restricted stock, shall be governed by the terms and
provisions of the Plan and the grant Agreement under which such Award was
granted. The Company has previously authorized Employee to sell her stock in
the open market and exercise stock options and restricted stock without any
limitations, in accordance with applicable law.

7. Outplacement. The Company shall pay for twelve
(12) months of outplacement services by paying Employee a one-time payment
of the total gross amount of Twelve Thousand dollars ($12,000), less
withholdings, to be paid to Employee within ten (10) business days after
expiration of the revocation period set forth in Exhibit A.

8. Mitigation or Reduction of Benefits. Employee
shall not be required to mitigate the amount of any payment provided for in
this Agreement by seeking other employment. Except as otherwise specifically
set forth herein, the amount of any payment or benefits provided herein shall
not be reduced by any compensation or benefits or other amounts paid to or
earned by Employee as the result of employment by another employer after the
Separation Date.

9. Section 409A Compliance. The parties intend
that the benefits provided under Sections 4(a), 5 and 15 comply with the
separation pay exception to the requirements of Section 409A of the
Internal Revenue Code as described in Treas. Reg. Section 1.409A-1(b)(4)
and Treas. Reg. Section 1.409A-1(b)(9)(iii) and (v) respectively.
Nevertheless, under no circumstances may the time or schedule of any payment
made or benefit provided pursuant to this Agreement be accelerated or subject
to further deferral except as otherwise permitted or required pursuant to
regulations and other guidance issued pursuant to Section 409A of the Code.

 

 

 

In addition, the Employee shall not
have any right to make any election regarding the time or form of any payment
due under this Agreement. For purposes of this Agreement, the determination of
whether Employee has terminated employment will be made in accordance with
Treas. Reg. Section 1.409A-1(h)(l). The right to each monthly payment
under Section 4 shall be treated as the right to a series of separate
payments within the meaning of Treas. Reg. Section 1-409A-2(b) (2).

If the Company
concludes at a later date, in the exercise of its discretion, that neither the
short-term deferral exception, the separation pay exception nor any other
exception to the requirements of Section 409A is available, all monthly
payments, if any, that are to be made following the fifteenth (15) day of
the third (3rd) month of the Employee’s taxable year in which the
Separation Date occurred, but before the date which is six (6) months
following the Separation Date, that are, in the aggregate, in excess of the
Excludable Compensation shall be paid in a lump sum on the first (1st) day of
the seventh (7th) month following the Employee’s Separation Date or, if
earlier, the date the Employee dies following the Separation Date. For purposes
of this Section, “Excludable Compensation” shall equal the lesser
of two times (i) the Employee’s annualized base compensation for the
Employee’s taxable year prior to the Employees’ taxable year in
which the Separation Date occurred or (ii) the applicable limit set forth
in Section 401 (a) (17) of the Code for the year in which the
Separation Date occurred.

Each provision of
this Agreement shall be interpreted, to the extent possible, to comply with
Section 409A or any exception thereto.

10. Release. In order to receive payments and
benefits described herein, other than those provided in Section 2,
Employee must execute a Release in the form attached as Exhibit A
and that Release must become effective. If Employee fails to sign the Release
within the period provided in the Release, or if Employee revokes the Release
within the seven (7) day revocation period provided therein, Employee will
forfeit any right to the payments and benefits described in Sections 4, 5,
7 and 16.

11. Covenant Not to Solicit. Employee agrees that
during the course of her employment, she has received Confidential Information
and training, designed to give her special skills and to provide the Company
with a competitive advantage and which has commercial value. Employee
acknowledges that the Company has a legitimate interest in protecting its
Confidential Information and in taking reasonable steps to protect its
goodwill, its relationships with students, employees, consultants, vendors,
suppliers, manufacturers and to protect itself against unfair competition.

Employee therefore
agrees:

(a) As used in this Section 11(a), the term
“Company Relationship” means any of the following
individuals or entities with whom Employee had dealings in connection with her
Company employment during the past twenty-four (24) months: any Company
employee, student, consultant, independent contractor, vendor, supplier,
manufacturer, or any other person or entity with a business relationship with
the Company. For a period of eighteen (18) months (or twelve
(12) months if an arbitrator or arbitration panel finds that eighteen
(18) months are unreasonable, or for nine (9) months if an arbitrator
or arbitration panel finds that twelve (12) months are unreasonable) after
the Separation Date, Employee agrees that she will not, either directly or
indirectly, or through others, solicit or attempt to solicit any Company
Relationship to terminate or limit its relationship with the Company in order
to become an employee, consultant, or independent contractor to or for any
other person or entity.

 

 

 

12. Acknowledgment Regarding Restrictions. Employee
recognizes and agrees that the restraints contained in Sections 11 and 15
(both separately and in total) are reasonable and should be fully enforceable
in view of the high level position Employee has had with the Company, and the
Company’s legitimate interests in protecting its Confidential Information
and its goodwill and relationships. Employee specifically hereby acknowledges
and confirms that Employee is willing and intends to, and will, abide fully by
the terms of Sections 11 and 15 of this Agreement.

13. Company’s Right to Obtain Injunctive
Relief. In addition to any other legal or equitable remedies the Company
may have (including any right to damages that it may suffer), the Company shall
be entitled to temporary, preliminary and permanent injunctive relief
restraining a breach or imminent breach of Employee’s obligations to
Company in this Agreement. Employee hereby expressly acknowledges that the harm
which might result to Company’s business as a result of noncompliance by
Employee with any of the provisions of this Agreement would be largely
irreparable.

14. Employee Agreement to Disclose this Agreement.
Employee agrees to disclose, for a period of eighteen (18) months
following the Transition Period, the terms of Sections 11 and 15 to any
potential future employer.

15. Confidential Information. During and after the
Employee’s employment, Employee will not, directly or indirectly, in one
or a series of transactions, disclose to any person, or use or otherwise
exploit for the Employee’s own benefit or for the benefit of anyone other
than the Company, any Confidential Information, whether prepared by Employee or
not; provided, however, that any Confidential Information may be disclosed
(i) to officers, representatives, employees and agents of the Company who
need to know such Confidential Information in order to perform the services or
conduct the operations required or expected of them in the business, and
(ii) in good faith by the Employee in connection with the performance of
Employee’s duties hereunder to persons who are authorized to receive such
information by the Company. Employee shall use Employee’s best efforts to
prevent the removal of any Confidential Information from the premises of the
Company, except as required in Employee’s normal course of employment by
the Company. Employee shall use Employee’s best efforts to cause all
persons or entities to whom any Confidential Information shall be disclosed by
Employee hereunder to observe the terms and conditions set forth herein as
though each such person or entity was bound hereby. Employee shall have no
obligation hereunder to keep confidential any Confidential Information, if and
to the extent such information is disclosed publicly through no breach of this
Agreement by Employee or disclosure of any such information is specifically
required by law; provided, however, that in the event disclosure is required by
applicable law, the Employee shall provide the Company with prompt notice of
such requirement, prior to making any disclosure, so that the Company may seek
an appropriate protective order. The Company acknowledges that Employee has
delivered to the Company all Confidential Information which Employee may
possess or control. Employee agrees that all Confidential Information of the
Company conceived, discovered or made by Employee during employment exclusively
belongs to the Company (and not to Employee). Employee will perform all actions
reasonably requested by the Company to establish and confirm such exclusive
ownership.

 

 

 

16. Attorneys Fees. The Company agrees to reimburse
Employee for her attorneys fees incurred in connection with the negotiation of
this Agreement in the amount of Ten Thousand dollars ($10,000), less applicable
withholdings, to be paid to Employee within ten (10) business days after
expiration of the revocation period set forth in Exhibit A.

17. References. Within ten (10) days after
expiration of the revocation period set forth in Exhibit A, the Company
will deliver to Employee a written job reference from Ms. McWaters in the
forms attached hereto as Exhibit B. The Company will also provide a
reference from Company Director Conrad Conrad within fourteen (14) days after
expiration of the revocation period set forth in Exhibit A.

18. Agreement to Arbitrate. All disputes or claims
regarding this Agreement shall be submitted for resolution exclusively to
binding arbitration under the Commercial Rules of Arbitration of the American
Arbitration Association in Phoenix, AZ, no later than six (6) months from
the date such claim arises. The arbitrator or arbitration panel shall have the
authority to award temporary or permanent injunctive relief and to award
attorney’s fees and costs to the prevailing party. Any temporary or
permanent injunctive relief ordered by the arbitrator or the arbitration panel
may be enforced in court by either party by seeking judicial confirmation of
such award.

19. Severability. If any provision of this
Agreement or the application thereof to any person or circumstance shall to any
extent be held to be invalid or unenforceable, the remainder of this Agreement
and the application of such provision to persons or circumstances other than
those as to which it is held invalid or unenforceable shall not be affected
thereby, and each provision of this Agreement shall be valid and enforceable to
the fullest extent permitted by law. An arbitrator or arbitration panel can
reasonably modify this Agreement by rewriting it and/or it can
“blue-pencil” this Agreement by striking things out.

20. Headings. The headings in this Agreement are
inserted for convenience of reference only and shall not in any way affect the
meaning or interpretation of this Agreement.

21. Counterparts. This Agreement may be executed in
one or more identical counterparts, each of which shall be deemed an original
but all of which together shall constitute one and the same instrument.

22. Waiver. Neither any course of dealing nor any
failure or neglect of either party hereto in any instance to exercise any
right, power or privilege hereunder or under law shall constitute a waiver of
such right, power or privilege or of any other right, power or privilege or of
the same right, power or privilege in any other instance. Without limiting the
generality of the foregoing, Employee’s continued employment without
objection shall not constitute Employee’s consent to, or a waiver of,
Employee’s rights. All waivers by either party hereto must be contained
in a written instrument signed by the party to be charged therewith, and, in
the case of the Company, by a resolution adopted by a majority of the Board of
Directors.

 

 

 

23. Entire
Agreement. This instrument constitutes the entire agreement of the parties
in this matter and shall supersede any other agreement between the parties,
oral or written, concerning the same subject matter.

24. Amendment. This Agreement may be amended
only by a writing which makes express reference to this Agreement as the
subject of such amendment and which is signed by Employee and by the Chairman
of the Compensation Committee of the Board of Directors or the Chairman’s
designee.

25. Governing Law. In light of Company’s and
Employee’s substantial contacts with the State of Arizona, the facts that
the Company is headquartered in Arizona and Employee resides in and provides
services to the Company in Arizona, the parties’ interests in ensuring
that disputes regarding the interpretation, validity and enforceability of this
Agreement are resolved on a uniform basis, and Company’s execution of,
and the making of, this Agreement in Arizona, the parties agree that:
(a) any arbitration or litigation involving any noncompliance with or
breach of the Agreement, or regarding the interpretation, validity and/or
enforceability of the Agreement, shall be filed and conducted exclusively in
the state of Arizona; and (b) the Agreement shall be interpreted in
accordance with and governed by the laws of the State of Arizona, without
regard for any conflict/choice of law principles.

IN WITNESS WHEREOF,
Employee and the Company have executed this Agreement as of the day and year
first above written.

	 	 	 	 	 
	 	UNIVERSAL TECHNICAL INSTITUTE, INC.

 	 
	 	By:  	/s/ Chad A Freed
 	 
	 	 	Senior Vice President and General Counsel 	 
	 	 	 	 
	 
	 	Jennifer L. Haslip

 	 
	 	By:  	/s/ Jennifer L. Haslip
 	 
	 	 	 	 
	 	 	 	 
	 

 

 

 

Exhibit A

MUTUAL WAIVER AND RELEASE

This MUTUAL WAIVER
AND RELEASE (the “Release”) dated
                ,
         is by and between
Jennifer L. Haslip (“Employee”) and Universal Technical Institute,
Inc., a Delaware corporation (“Company”);

WHEREAS, the
Company and Employee are parties to a Transition and Separation Agreement dated
               ,
2008 (the “Agreement”), which provides certain payments and
benefits to Employee upon separation of employment; and

WHEREAS, the
execution of this Release is a condition precedent to, and material inducement
to, the Company’s provision of certain benefits under the Agreement;

NOW, THEREFORE, the
parties hereto agree as follows:

1. Mutual
Promises. The Company undertakes the obligations contained in the
Agreement, which are in addition to any compensation to which Employee might
otherwise be entitled, in exchange for Employee’s promises and
obligations contained herein. The Company’s obligations are undertaken in
lieu of any other employment benefits.

2. Release
of Claims by Employee; Agreement Not to File Suit.

a.
Employee, for and on behalf of herself and her heirs, beneficiaries, executors,
administrators, successors, assigns and anyone claiming through or under any of
the foregoing, agrees to, and does, release and forever discharge the Company
and its subsidiaries and affiliates, each of their shareholders, directors,
officers, employees, agents and representatives, and its successors and assigns
(collectively, the “Company Released Persons”), from any and all
matters, claims, demands, damages, causes of action, debts, liabilities,
controversies, judgments and suits of every kind and nature whatsoever,
foreseen or unforeseen, known or unknown, which have arisen or could arise from
matters which occurred prior to the date of this Release, which matters include
without limitation: (i) the matters covered by the Agreement and this
Release, (ii) Employee’s employment, and/or termination from
employment with the Company, and (iii) any claims which might otherwise
arise in the future as a result of arrangements or agreements in effect as of
the date of this Release or the continuance of such arrangements and agreements.

b.
Employee, for and on behalf of herself and her heirs, beneficiaries, executors,
administrators, successors, assigns, and anyone claiming through or under any
of the foregoing, agrees that Employee will not file or otherwise submit any
arbitration demand, claim, complaint, or action to any court, organization, or
judicial forum (nor will Employee permit any person, group of persons, or
organization to take such action on Employee’s behalf) against any
Company Released Person arising out of any actions or non-actions on the part
of any Company Released Person arising before the date of this Release or any
action taken after the date of this Release pursuant to the Agreement.

 

 

 

Employee further
agrees that in the event that any person or entity should bring such a charge,
claim, complaint, or action on Employee’s behalf, Employee hereby waives
and forfeits any right to recovery under said claim and will exercise every
good faith effort to have such claim dismissed.

c.
The charges, claims, complaints, matters, demands, damages, and causes of
action referenced in Sections 2(a) and 2(b) include, but are not limited to:
(i) any breach of an actual or implied contract of employment between
Employee and any Company Released Person, (ii) any claim of unjust,
wrongful, or tortuous discharge (including, but not limited to, any claim of
fraud, negligence, retaliation for whistle blowing, or intentional infliction
of emotional distress), (iii) any claim of defamation or other common law
action, or (iv) any claims of violations arising under the Civil Rights
Act of 1964, as amended, 42 U.S.C. §2000e et seq., the Age
Discrimination in Employment Act, 29 U.S.C. §621 et seq., the
Americans with Disabilities Act of 1990, 42 U.S.C. §12101 et seq., the
Fair Labor Standards Act of 1938, as amended, 29 U.S.C. §201 et
seq., the Rehabilitation Act of 1973, as amended, 29 U.S.C. §701 et
seq., the Family and Medical Leave Act, or any other relevant federal,
state, or local statutes or ordinances, or any claims for pay, vacation pay,
insurance, or welfare benefits or any other benefits of employment with any
Company Released Person arising from events occurring prior to the date of this
Release other than those payments and benefits specifically provided herein.

d.
This Release does not affect Employee’s right to any governmental
benefits payable under any Social Security or Worker’s Compensation law
now or in the future; Employee’s rights in the Agreement;
Employee’s rights with regard to stock, stock options, and restricted
stock the Company previously issued to her or that she owns; Employee’s
rights to indemnification as an officer, agent or employee under applicable
law, charter document, bylaws, or agreement; or Employee’s rights under
insurance policies, including Directors and Officers liability insurance
policies.

e.
This Release does not affect Employee’s right to participate in any
federal, state or local investigation by any governmental agency or to
challenge the validity of this Agreement. Further, this Release is not intended
to be a release of any claims under the Arizona Minimum Wage Act, effective
January 1, 2007.

3. Release
of Claims by the Company; Agreement Not to File Suit.

a.
The Company agrees to, and does release and forever discharge Employee, from
any and all matters, claims, demands, damages, causes of action, debts,
liabilities, controversies, judgments and suits of every kind and nature
whatsoever, foreseen or unforeseen, known or unknown, which have arisen or
could arise from matters which occurred prior to the date of this Release,
which matters include without limitation: (i) the matters covered by the
Agreement and this Release, (ii) Employee’s employment, and/or
termination from employment with the Company, and (iii) any claims which
might otherwise arise in the future as a result of arrangements or agreements
in effect as of the date of this Release or the continuance of such
arrangements and agreements.

 

 

 

b.
The Company agrees that it will not file or otherwise submit any arbitration
demand, claim, complaint, or action to any court, organization, or judicial
forum (nor will the Company permit any person, group of persons, or
organization to take such action on the Company’s behalf) against
Employee arising out of any actions or non-actions on the part of Employee
arising before the date of this Release or any action taken after the date of
this Release pursuant to the Agreement. The Company further agrees that in the
event that any person or entity should bring such a charge, claim, complaint,
or action on the Company’s behalf, the Company hereby waives and forfeits
any right to recovery under said claim and will exercise every good faith
effort to have such claim dismissed.

4. Release
of Benefit Claims. Employee, for and on behalf of herself and her heirs,
beneficiaries, executors, administrators, successors, assigns and anyone
claiming through or under any of the foregoing, further releases and waives any
claims for pay, vacation pay, insurance or welfare benefits or any other
benefits of employment with any Company Released Person arising from events
occurring prior to the date of this Release other than claims to the payments
and benefits specifically provided for in the Agreement and claims for benefits
which are not subject to waiver under the law.

5. Revocation Period; Knowing and Voluntary
Agreement. Employee acknowledges that she is knowingly and voluntarily
waiving and releasing any rights she may have under the Age Discrimination in
Employment Act, as amended, (“ADEA”). Employee also acknowledges
that the consideration given for the waiver and release in the preceding
Section is in addition to anything of value to which she would be entitled to
without this Agreement. Employee further acknowledges that Employee is advised
by this writing, as required by the ADEA, that: (a) this waiver and
release does not apply to any rights or claims that may arise after execution
date of this Release; (b) Employee has been advised of having had the
right to consult with an attorney prior to signing this Release;
(c) Employee has twenty-one (21) days to consider this Release
(although Employee may choose to voluntarily execute this Release earlier);
(d) Employee has seven (7) days following the signing of this Release
by the parties to revoke the Release; and (e) this Release shall not be
effective until the date upon which the revocation period has expired, which
shall be the eighth day after this Release is executed by the Employee.

6. Severability. If any provision of this Release
or the application thereof to any person or circumstance shall to any extent be
held to be invalid or unenforceable, the remainder of this Release and the
application of such provision to persons or circumstances other than those as
to which it is held invalid or unenforceable shall not be affected thereby, and
each provision of this Release shall be valid and enforceable to the fullest
extent permitted by law.

7. Headings. The headings in this Release are
inserted for convenience of reference only and shall not in any way affect the
meaning or interpretation of this Release.

8. Counterparts. This Release may be executed in
one or more identical counterparts, each of which shall be deemed an original
but all of which together shall constitute one and the same instrument.

 

 

 

9. Entire
Agreement. This Release and related Agreement constitutes the entire
agreement of the parties in this matter and shall supersede any other agreement
between the parties, oral or written, concerning the same subject matter.

10. Governing Law. This Release shall be governed
by, and construed and enforced in accordance with, the laws of the State of
Arizona, without reference to the conflict of laws rules of such State.

IN WITNESS WHEREOF,
Employee and the Company have executed this Release as of the day and year
first above written.

	 	 	 	 	 
	 	UNIVERSAL TECHNICAL INSTITUTE, INC.

 	 
	 	By:  	/s/ Chad A. Freed
 	 
	 	 	Senior Vice President and General Counsel 	 
	 	 	 	 
	 
	 	JENNIFER L. HASLIP

 	 
	 	By:  	/s/ Jennifer L. Haslip

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]