If you have a severance pay agreement, it probably contains a paragraph that is pretty much like this: the arrangement process is recognized by law and is one of the few ways such an agreement between an employer and an employee can be fully legally binding. For this reason, you should resort to independent legal advice on the document, usually by a lawyer before it becomes mandatory. The lawyer must also certify the agreement. This document answers questions you may have when a termination agreement is offered to you in exchange for a waiver of your actual or potential rights to discrimination. Part II contains basic information on redundancy agreements; Part III specifies the date of validity of a declaration of renunciation; and Part IV deals specifically with the waiver of rights to age discrimination, which must comply with the provisions of the Older Workers Benefit Protection Act (OWBPA). Finally, this document contains a list of tips on what you should do before signing a waiver statement in a severance pay agreement and a sample agreement offered to a group of employees that gives them the option to terminate in exchange for severance pay. In other words, no matter what the employee says, if he signs the document, you cannot skip the 7-day withdrawal period. It is voluntarily there by law to ensure that the person has not been forced to sign the agreement. Breach of agreement: Settlement agreements likely provide that if you breach any of its terms, you will have to reimburse some or all of your employer`s payments and compensate them for future costs and procedures to compensate them (and in some cases losses resulting from the breach). This is a usual clause, although it often needs to be watered down, so only a “substantial” infringement should lead to a refund, and even then, the refund should not include the sums to which you were entitled in all cases (for example.

B contractual termination payments). However, as stated above, a transaction agreement cannot prevent you from reporting breaches to the police, from reporting a competent authority (e.g. B a supervisory authority) or to report anything that had not yet been done at the time of signing the settlement agreement, for example.B. if you stayed with your employer and the harassment continued. The example below illustrates a way to present employees with the information required from the OWBPA as part of a waiver agreement and should not suggest that employers must adhere to this format. . . .