The Termination Waiver Agreement serves as a critical risk management tool for employers while providing employees with clarity and potential benefits upon separation. This document is typically used during voluntary or involuntary terminations, layoffs, or redundancies where the employer wishes to minimize the risk of future litigation. The agreement must be carefully drafted to comply with U.S. federal laws including the Age Discrimination in Employment Act and state-specific requirements. It should include clear terms regarding severance benefits, comprehensive release of claims, and mandatory review periods. Special attention must be paid to employees over 40, who are afforded specific protections under federal law.
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1. Parties: Identification of the employer and employee entering into the agreement
2. Background: Context of the employment termination and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Separation Terms: Details of the employment termination including effective date and final payments
5. Waiver and Release: Comprehensive release of claims against the employer
6. Consideration: Details of severance or other benefits being provided in exchange for the waiver
7. Review Period: Statutorily required review periods and revocation rights
8. Governing Law: Jurisdiction and applicable law
1. Non-Compete Provisions: Restrictions on future employment, used when protecting business interests is crucial and state law permits
2. Confidentiality: Ongoing obligations regarding company information, used when sensitive information was accessed during employment
3. Non-Disparagement: Mutual or one-way agreement not to make negative statements, used when protecting reputation is important
4. Return of Property: Process for returning company assets, used when employee has company property in their possession
5. Reference Provision: Agreement on how future employment references will be handled, used when specific reference arrangements are desired
1. Schedule A - Consideration Details: Itemized list of severance benefits and payment schedule
2. Schedule B - Released Claims: Detailed list of specific claims being waived
3. Schedule C - Company Property: Inventory of items to be returned
4. Appendix 1 - ADEA Disclosure: Required age discrimination disclosures for group terminations
Relevant legal definitions
Agreement
Company
Effective Date
Employee
Employer
Claims
Consideration
Confidential Information
Released Parties
Severance Payment
Separation Date
Termination Date
Review Period
Revocation Period
Waiver
Cause
Company Property
Proprietary Information
Trade Secrets
Intellectual Property Rights
Competing Business
Restricted Period
Territory
Governing Law
Parties
Company
Effective Date
Employee
Employer
Claims
Consideration
Confidential Information
Released Parties
Severance Payment
Separation Date
Termination Date
Review Period
Revocation Period
Waiver
Cause
Company Property
Proprietary Information
Trade Secrets
Intellectual Property Rights
Competing Business
Restricted Period
Territory
Governing Law
Parties
Clauses
Severance Payment
Waiver and Release
Confidentiality
Non-Disparagement
Non-Competition
Non-Solicitation
Return of Property
Cooperation
Reference Provision
Consideration
Review and Revocation Rights
Acknowledgments
Governing Law
Entire Agreement
Amendment
Severability
Breach and Remedies
Tax Matters
Benefits Continuation
Assignment
Notice
Dispute Resolution
Survival
Binding Effect
Voluntary Execution
Waiver and Release
Confidentiality
Non-Disparagement
Non-Competition
Non-Solicitation
Return of Property
Cooperation
Reference Provision
Consideration
Review and Revocation Rights
Acknowledgments
Governing Law
Entire Agreement
Amendment
Severability
Breach and Remedies
Tax Matters
Benefits Continuation
Assignment
Notice
Dispute Resolution
Survival
Binding Effect
Voluntary Execution
Relevant Industries
Relevant Teams
Relevant Roles
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