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|This is a sample and should not be construed as constituting legal advice. Consultation with a legal professional before and in conjunction with the use of these materials is recommended.
Severance Agreement and General Release
This letter sets forth our agreement with respect to all matters that pertain to your employment and separation from employment by Your Organization (the “Company”).
In consideration of the mutual benefits set forth above, you and the Company agree as follows:
Except as otherwise set forth in this agreement, you hereby release, waive and discharge the Company, its parent, subsidiaries and affiliates and their respective predecessors and successors, and each of its and their respective past, present and future directors, trustees, officers, employees, representatives, attorneys, agents and assigns (the “Released Parties”), from the Claims; and you hereby agree that neither you nor any of your heirs or personal representatives will ever assert, in any form, any of the Claims. In addition, and not in limitation of the foregoing, you hereby forever release and discharge the Company from any liability or obligation to reinstate or reemploy you in any capacity. You acknowledge that you have not suffered any on-the-job injury for which you have not already filed a workers’ compensation claim and, except as expressly provided in this Agreement, you have been paid for all hours worked including overtime, if applicable, and all other wages and compensation due. You further agree not to institute any charge, complaint or lawsuit to challenge the validity of this General Release and Covenant Not To Sue or the circumstances surrounding its execution. The Claims expressly do not include actions to enforce the terms of this Agreement.
You understand and agree that by entering into this Agreement, the Company does not admit any liability, including liability arising under state or federal law or under any agreement or contract.
You and the Company will not disparage or malign one another, and will exercise reasonable efforts to keep the terms and provisions of this Agreement confidential.
This agreement is intended to comply with the Older Workers Benefit Protection Act of 1990. You acknowledge and agree that you specifically are waiving rights and claims under the Age Discrimination in Employment Act (“ADEA”), and that the waiver of rights and claims does not extend to any rights or claims arising after the date you execute this Agreement. You are advised to consult an attorney regarding the terms of this severance agreement. You are entitled to twenty-one (21) days within which to fully consider and sign this agreement, although you may do so at any time between now and DATE, this twenty-one (21) day period. Following the date that you sign this agreement, you shall have a period of seven (7) days, in which to revoke it, which you may do in writing. The terms of this agreement will not be enforceable until the expiration of this revocation period, which means that this agreement shall be effective and binding on the eighth day following the day on which you sign it. In the event that you revoke your acceptance of this agreement, the Company shall have no obligations hereunder.
If the foregoing is acceptable to you and conforms to your understanding of our agreement, please sign and return the original to me and keep the enclosed copy of this letter for your files.
Very truly yours,
I hereby freely and voluntarily assent to all the terms and conditions in this agreement, and sign the same as my own free act with the full intent of releasing the Released Parties (as defined above) from all claims including without limitation, the Age Discrimination In Employment Act, Title VII of the Civil Rights Act, the Americans with Disabilities Act, and the Rehabilitation Act, and Massachusetts General Laws c. 151B.
This is a sample and should not be construed as constituting legal advice. Consultation with a legal professional before and in conjunction with the use of these materials is recommended.