Overview of Resignation, Release and Waiver

 

What is this document?

A Resignation, Release and Waiver is a legal document where one party agrees to resign from their position, and waive any present or future claims against the other party.

 

When would I use this document?

A Resignation, Release and Waiver can be used where an employee is resigning from a company, or a director is resigning from a board of directors.

 

Who signs this document?

A Resignation, Release and Waiver is signed by the party who is resigning.

 

More details about this document

A Resignation, Release and Waiver is a document signed by an employee or a director of a company when they resign from their position. The purpose of the document is to ensure that an employee or director will not bring a claim against the company.

The document is a one-sided document, in favour of the company from which the employee or director is resigning.

Some Resignation, Release and Waivers can be drafted in relation to separate documents, such as a termination letter or a share purchase agreement.

 

What are the core elements of this document?

The core elements of a Resignation, Release and Waiver include: Release of Claims, Waiver of Liability, and Independent Legal Advice.

Additional clauses could include: Enurement, Entire Agreement and Precedence of Agreements.

 

Related Documents

Nondisclosure/Confidentiality Agreement – an agreement that protects confidential information.

Contractor/Consulting/Services Agreement – this type of agreement can have various names, and is used when a person is paid to provide services but is not hired as an employee. Payment can be flexible eg. money, shares or some other form of compensation.

Employment Agreement – an agreement that sets out the terms of an employment relationship.

Termination Agreement – an agreement used to terminate another agreement.

 

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This article is provided for informational purposes only and does not create a lawyer-client relationship with the reader. It is not legal advice and should not be regarded as such. Any reliance on the information is solely at the reader’s own risk. Clausehound.com is a legal tool geared towards entrepreneurs, early-stage businesses and small businesses alike to help draft legal documents to make businesses more productive. Clausehound offers a $10 per month DIY Legal Library which hosts tens of thousands of legal clauses, contracts, articles, lawyer commentaries and instructional videos. Find Clausehound.com where you see this logo.

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