The agreement typically releases known and unknown claims, includes confidentiality and non-disparagement provisions, and may impose restrictive covenants. ADEA waivers require specific OWBPA compliance.
Certain claims cannot be released.
Alternative Names:
Separation Agreement|Severance and Release
Why it Matters?
OWBPA compliance is the requirement that voids more releases than any other, requiring plain language, specific reference to ADEA rights, advice to consult counsel, twenty-one days to consider, and seven days to revoke. Group terminations add disclosure of the decisional unit and ages of those selected. Claims that cannot be waived include unemployment benefits, workers' compensation, and the right to file agency charges, which recent enforcement has emphasized.
Frequently Confused with
Related terms
Frequently asked questions
What does OWBPA require for an ADEA waiver?
Which claims cannot be released?
