It won't clear reminders on previously booked appointments, just for future ones added to your schedule. You can disable/enable the reminder on an appointment by appointment basis - so if you've booked a lot prior to disabling the reminder, you'll have to disable them one by one.
Also, if you're invited to meetings by others, the meeting organizer sets the reminder. You can change the settings for your personal reminder for this meeting when you're in the invite, prior to accepting it.
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