The Employment Waiver Release Agreement serves as a critical risk management tool for employers in the United States, typically used during employment terminations or voluntary separations. This document provides legal protection for employers by obtaining a release of potential claims in exchange for consideration, often in the form of severance pay or benefits. The agreement must carefully comply with federal regulations, including the Age Discrimination in Employment Act (ADEA), Title VII of the Civil Rights Act, and various state-specific requirements. It's particularly important when terminating employees over 40, as specific provisions and time periods must be included to ensure compliance with the Older Workers Benefit Protection Act.
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1. Parties: Identification of employer and employee with full legal names and addresses
2. Background: Context of employment termination and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Consideration: Details of severance or other payment being offered
5. Release of Claims: Comprehensive list of claims being waived, including federal and state law claims
6. Non-Admission: Statement that agreement does not constitute admission of wrongdoing
7. Governing Law: Jurisdiction and applicable law governing the agreement
1. Confidentiality: Terms of confidentiality regarding agreement and employment details
2. Non-Disparagement: Mutual or one-way agreement not to make negative statements about the other party
3. Return of Property: Requirements for returning company property and materials
4. References: Agreement on how future employment references will be handled
5. Ongoing Obligations: Continuation of certain employment agreement obligations post-termination
1. Schedule A - Payment Details: Detailed breakdown of severance or other payments
2. Schedule B - Company Property Checklist: List of company property to be returned
3. Appendix 1 - State-Specific Notices: Required notices based on applicable state law
4. Appendix 2 - ADEA Disclosure: Required age discrimination disclosures for workers over 40
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