FULL AND FINAL RELEASE TO BE OBTAINED BY AN EMPLOYER FROM AN EMPLOYEE WHEN THE EMPLOYEE HAS BEEN TERMINATED
IN CONSIDERATION of the payment to me of the sum of TWO DOLLARS ($2.00), receipt of which is hereby acknowledged, I, [NAME OF EMPLOYEE SIGNING RELEASE], on behalf of myself, my heirs, administrators and assigns (hereinafter collectively referred to as the “Releaser”) hereby release and forever discharge [NAME OF EMPLOYER], its parent, subsidiaries and affiliates and each of its and their respective officers, directors, employees, servants and agents, and their successors and assigns (hereinafter collectively referred to as the “Release”) jointly and severally from any and all actions, causes of action, contracts and covenants, whether express or implied, claims and demands for damages, indemnity, costs, interest, loss or injury of every nature and kind whatsoever arising, which I may heretofore have had, may now have or may hereinafter have and without limiting the generality of the foregoing, all claims in any way relating to the hiring of, the employment by or the termination of employment of the Releaser by the Release and I hereby specifically covenant, represent and warrant to the Release that I have no further claim against the Release for or arising out of my employment or cessation of employment which specifically includes but is not limited to any claims for notice, pay in lieu of notice, wrongful dismissal, severance pay, bonus, overtime pay, incentive compensation, interest, vacation pay or any claims under any employment or human rights legislation.
AND FOR THE SAID CONSIDERATION I further covenant and agree to save harmless and indemnify the Release e from and against all claims, charges, taxes or penalties and demands which may be made by any governmental authority requiring the Release to pay any recognized federal, provincial and local taxing authorities in respect of income tax payable by me in excess of the income tax previously withheld.
IT IS UNDERSTOOD AND AGREED that the giving of the aforementioned consideration is deemed to be no admission of liability on the part of the said Release, said liability in fact being denied.
IN WITNESS WHEREOF I have hereunto executed this Release by affixing my hand and seal on
[DATE OF SIGNING OF RELEASE], in the presence of the witness whose signature is subscribed below.