WALTERS, PAUL M. - SEVERANCE - Laserfiche WebLink

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9. Mutual Section 1542 Waivers. As a further consideration and inducement for this Agreement, to the extent permitted by law, Officer and the City each hereby waive and release any and all rights under section 1542 of the California Civil Code or any analogous state, local, or federal law, statute, rule, order or regulation, he or it has or may have with respect to any claims against each other, or against the Released Parties or the City-Released Parties. California Civil Code section 1542 reads as follows; "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR- SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. II Officer and the City each waive any right he or it might have to invoke section 1542 now or in the future with respect to the releases set out in this Agreement. Officer and the City each recognize and acknowledge that factors which have induced him or it to enter into this Agreement may turn out to be incorrect or different from what he or it had previously anticipated, and Officer and City each expressly assume all of the risks of this wavier of section 1542. 10. SDecific Acknowlede:ment of Waiver of Claims Under ADEA and OWBPA. The Age Discrimination in Employment Act of 1967 C'ADEA"; 29 U.s.C. ~~ 621~634) makes it illegal for an employer to discharge any individual or otherwise discriminate with respect to the nature and privileges of an individual's employment on the basis that the individual is age forty or older. The Older Workers Benefit Protection Act ("OWBPA"; 29 V.S.C. ~~ 626 et seq.) augments the ADEA and prohibits the waiver of any right or claim under the ADEA unless the waiver is knowing and voluntary. By entering into this Agreement, Officer acknowledges that, in exchange for consideration stated herein, he knowingly and voluntarily waives and releases any rights that he may have under the ADEA and/or OWBPA. Officer further acknowledges that he has been advised and understands, pursuant to the provisions of the ADEA and OWBP A that: a. This waiver/release is written in a manner Officer understands. b. Officer is aware of and has been advised by a representative or legal counsel of his own choosing of his rights under the ADEA and OWBP A, and of the legal significance of his waiver of any possible claims he currently may have under the ADEA, OWBP A, or similar age discrimination laws. c. Officer is entitled to a reasonable time of at least twenty-one (21) days within which to review and consider this Agreement, and the waiver and release of any rights he may have under the ADEA, the OWBPA, or similar age discrimination laws, but he may, in the exercise of his own discretion, sign or reject this Agreement at any time before the expiration of the twenty-one Page 4 of7