Below is a copy-paste indemnity agreement, download a free severance package template, and learn more about severance packages. Rights under the Age Discrimination in Employment Act (ADEA) may be removed in an exemption agreement, but the exemption agreement must meet all the requirements of the Older Workers Benefit Protection Act (“OWBPA”). Unfortunately, violations of the OWBPA remain some of the most common mistakes made by employers in designing termination agreements. Conventional wisdom suggests that if the employer offers severance pay, it should receive in return a promise not to take legal action. (The benefits of an unlocking agreement may include other commitments, for example.B. a future cooperation or non-competition or advertising agreement for customers and employees.) If an employer does not receive this promise not to take legal action and is then prosecuted, he tends to regret the decision to effectively finance the former employee`s appeal with the severance pay that was made available “free of charge and clearly”. While it`s important to deliver severance pay in the best possible way, you should also consider your entire termination or RIF process to make sure you`re doing everything you can to deny the harsh feelings when you let someone go. The effective date of the debt exemption is another prerequisite for severance pay agreements that may lead an ignorant employer to a misstep. The actual release is effective only until the date of signature of the contract . .