Waiver for Employment
Waiver for Employment
This Waiver of Employment Claims ("Waiver Agreement") is entered into by and between [YOUR NAME] ("Employee") and [YOUR COMPANY NAME] ("Employer") on this July 15, 2050, and becomes effective on July 22, 2050.
1. Termination of Employment
The Employee’s employment with the Employer will terminate on July 31, 2050. As part of this termination, the Employee agrees to release and waive certain claims in exchange for severance benefits, as outlined in this Waiver Agreement.
2. Severance Compensation
In consideration for the Employee’s execution of this Waiver Agreement and compliance with its terms, the Employer agrees to provide the following severance compensation to the Employee:
-
A severance payment of $50,000, payable in a lump sum on August 15, 2050.
-
Continuation of health benefits through December 31, 2050, as outlined by the applicable company policies.
-
Outplacement services for a period of three months to assist in the Employee's transition.
3. Waiver of Claims
In exchange for the severance compensation described above, the Employee agrees to waive and release any and all claims, causes of action, or demands of any kind, known or unknown, against the Employer, including but not limited to:
-
Claims of wrongful termination, discrimination, harassment, or retaliation.
-
Claims under the Fair Labor Standards Act (FLSA), Title VII of the Civil Rights Act, or any other federal, state, or local law or regulation.
-
Any claims arising under the Employee's employment contract or any company policy, including claims related to wages, benefits, bonuses, or stock options.
4. Non-Admission of Liability
The Employee acknowledges and agrees that this Waiver Agreement does not constitute an admission of wrongdoing or liability by the Employer. The Employer denies any liability or wrongdoing and is entering into this Waiver Agreement solely to avoid potential litigation and resolve any potential disputes amicably.
5. Confidentiality
The Employee agrees to keep the terms of this Waiver Agreement confidential, except as required by law or as necessary to consult with legal, financial, or tax advisors.
6. Non-Disparagement
The Employee agrees not to make any false, negative, or disparaging statements regarding the Employer, its management, employees, or products. Similarly, the Employer agrees to provide a neutral reference for the Employee, confirming dates of employment and position held.
7. Return of Company Property
The Employee agrees to return all company property, including but not limited to:
-
Laptop computer, access badges, and company-issued mobile phone by July 31, 2050.
8. Right to Consult Legal Counsel
The Employee acknowledges that they have been advised to consult with an attorney before signing this Waiver Agreement and that they have had sufficient time to do so.
9. Consideration Period
The Employee acknowledges they have been given 21 days to consider this Waiver Agreement before signing. If the Employee signs and returns the Waiver Agreement before this period ends, they do so voluntarily and knowingly.
10. Revocation Period
The Employee may revoke this Waiver Agreement within 7 days after signing it by providing written notice to the Employer. If revoked, the severance compensation will not be provided.
11. Entire Agreement
This Waiver Agreement represents the entire understanding between the Employee and the Employer concerning the subject matter hereof and supersedes any prior agreements or understandings, whether oral or written.
12. Governing Law
This Waiver Agreement shall be governed by and construed in accordance with the laws of the State of [STATE NAME].
13. Acknowledgment of Understanding
The Employee acknowledges that they have read and fully understand this Waiver Agreement, that they are entering into it voluntarily, and that the terms are clear and understandable.
IN WITNESS WHEREOF, the parties have executed this Waiver Agreement as of the date first written above.
Employee:
[YOUR NAME]
July 15, 2050
Employer:
Sophie Fadel
HR Director
[YOUR COMPANY NAME]
July 15, 2050
