RELEASE, WAIVER AND QUITCLAIM

RELEASE, WAIVER AND QUITCLAIM

KNOW ALL MEN BY THESE PRESENTS:

            THAT I, [NAME OF EMPLOYEE], of legal age and resident of [ADDRESS OF EMPLOYEE], acknowledge that my employment with [NAME OF THE COMPANY] (hereinafter called the “Company”) validly ceased effective [LAST DATE OF EMPLOYMENT] by reason of redundancy. I further acknowledge that I have received all benefits due me arising out of or in connection with my employment with the Company, and the amount of [AMOUNT RECEIVED], representing my final pay, which includes all my unpaid salaries, COLA, accrued leave benefits, proportionate 13^th month pay, and separation pay, in full, final, and complete settlement of any and all claims I have or may have against the Company arising from or as a consequence of my employment with the Company and/or the cessation of such employment.

            Furthermore, and in consideration of the foregoing -

1.                  I confirm the validity of the termination of my employment as telephone operator on the ground of redundancy. [EXPLANATION OF THE CIRCUMSTANCES OF THE REDUNDANCY.]

2.                  I acknowledge the value of the opportunity afforded to me to be of service to the Company.

            2.         I release, remise and forever discharge the Company, its parent, affiliate or subsidiary companies, their stockholders, officers, directors, agents or employees, from any action, claim for sum of money, or other obligations arising from all incidents of my employment with the Company or the cessation of such employment.

            3.         I acknowledge that I have received all amounts that are now or in the future may be due me from the Company.  I also acknowledge that I am physically fit for work and, therefore, am not suffering from any disability.

            4.         I will not at any time, in any manner whatsoever, disclose any information pertaining to the Company’s business or affairs and/or use the name in any manner that will prejudice the interest of the Company, its parent, affiliate or subsidiary companies, their stockholders, officers, directors, agents or employees and will not disclose any confidential information I may have learned or obtained in the course of my employment.

            5.         I acknowledge that I have no cause of action, complaint, case or grievance whatsoever against the Company, its parent, affiliate or subsidiary companies, their stockholders, officers, directors, agents or employees in respect of any matter incident to or arising out of my employment with the Company or the cessation of the same.  I further warrant that I will institute no action against the Company, its parent, affiliate or subsidiary companies, their stockholders, officers, directors, agents or employees. 

            7.         I agree that the Company may bring action to seek an award for damages resulting from my breach of this release, waiver and quitclaim.  Such award shall include but not be limited to the return of whatever sums may have been paid to me by virtue hereof.

            8.         I finally declare that I have read this entire document, the contents of which have been explained to me and which I acknowledge to understand, and the entire release, waiver and quitclaim hereby given are made by me willingly, voluntarily and with full knowledge of my rights under the law.

            IN WITNESS WHEREOF, I have hereunto set my hand at Makati City, Philippines, this 20th day of July, 2020.

                                                                                                                         

                                                                        [NAME OF EMPLOYEE]

SIGNED IN THE PRESENCE OF:

_______________________________          ________________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )

MAKATI CITY                                   ) S.S.

I certify that on this date before me, a notary public duly authorized in the city named above to take acknowledgments, personally appeared:

Name                                      Community Tax Certificate No.       Place/ Date of Issue

EMPLOYEE

who was identified by me through competent evidence of identity to be the same person described in the foregoing instrument, who acknowledged before me that the signature on the instrument was voluntarily affixed by the him for the purposes stated therein, and who declared to me that he executed the instrument as his free and voluntary act and deed.

Witness my hand and seal this _____ day of ________________, 2020.

Doc. No.  _____; Page No.  _____; Book No. _____; Series of 2020.