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3. Severance Pay. The City shall pay to the Employee the sum of$7030.40, which
<br /> amount represents one week of the Employee's salary for every year of the Employee's service
<br /> to the City, reduced by applicable federal and state taxes, employment taxes, and other
<br /> customary withholdings, in settlement of all salary, compensatory time, claims in law and equity,
<br /> as well as any administrative claims that the Employee may have against the City or its officers,
<br /> agents, employees, or insurers. The payment shall be made on the effective date of the
<br /> Employee's separation from employment with the City, following any applicable rescission
<br /> periods, in a check made payable to "Rick Jarson."
<br /> 4. Health Insurance Premiums. The City shall pay to the Employee a lump sum of
<br /> $2,100.00 which amount represents six months of the City's contribution to the Employee's
<br /> health insurance premiums at a rate of$350.00 per month.
<br /> 5. Educational Benefits and/or out placement Services. The City shall provide the
<br /> Employee with educational benefits and/or out placement services up to a value of$3,000.00, to
<br /> be paid to the appropriate educational institution or out placement services company providing
<br /> such educational or out placement services to the Employee. The City will make payments
<br /> directly to the educational institution or out placement company upon submission of invoices by
<br /> such entity to the City. Educational benefits and/or out placement services provided by the City
<br /> to the Employee pursuant to this Agreement will be available to the Employee for one year from
<br /> the date of this Agreement.
<br /> 6. Release. In consideration of the above referenced Severance Pay at Paragraph No.
<br /> 3, Health Insurance Premiums at Paragraph No. 4, and Educational Benefits and/or Out
<br /> placement Services at Paragraph No. 5, the Employee, for himself, his heirs, administrators,
<br /> representatives, successors, and assigns, hereby releases and forever discharges the City, and its
<br /> attorneys, agents, representatives, employees, former employees, insurers, heirs, executors and
<br /> assigns of and from any and all past, present or future claims, demands, obligations, actions or
<br /> causes of action, at law or in equity, whether arising by statute, common law or otherwise, and
<br /> for all claims for damages, of whatever kind or nature, and for all claims for attorneys' fees, and
<br /> costs and expenses, including but not limited to all claims of any kind arising out of Employee's
<br /> employment, including but not limited to claims for harassment, discrimination, or constructive
<br /> discharge, or any actions arising from discussions in efforts to negotiate this Agreement.
<br /> In consideration of the above referenced Severance Pay at Paragraph No. 3, Health
<br /> Insurance Premiums at Paragraph No. 4, and Educational Benefits and/or Out placement Services
<br /> at Paragraph No. 5, Employee further acknowledges that he is knowingly and voluntarily
<br /> waiving all possible rights or claims arising under the Age Discrimination in Employment Act,
<br /> 29 U.S.C. 626, and all possible rights under the Minnesota Human Rights Act, Minn. Stat. 363,
<br /> et. al. and that Employee has consulted with his Attorney concerning the waiver of and content of
<br /> the rights available under these Acts. The City and Employee acknowledge that Employee has
<br /> 45 days in which to consider the waiver of rights available under the Age Discrimination in
<br /> Employment Act before such waiver can become effective.
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