RELEASE, WAIVER AND QUITCLAIM
KNOW ALL MEN BY THESE PRESENTS:
I, (NAME OF EMPLOYEE), Filipino, married/single, of legal age, and a resident of (Place of Residence of Employee), confirm my separation from employment with (Name of Company), a corporation duly organized and existing under Philippine laws with office address at (Address of Company) (herein called the “Company”), and by reason thereof hereby:
1. Release, remit and forever discharge said Company, its directors, stockholders, officers, agents and employees; all their successors and assigns from any action, sum of money or other obligations arising from or in connection with my previous employment with said Company or the cessation thereof.
2. Acknowledge that I have received all amounts that are now or in the future may be due me from the Company through direct credit to my (Bank Account Details) on (Date of Payment) amounting to (AMOUNT IN WORDS) (Php________________) representing my full separation benefits.
3. Acknowledge that I have no cause of action, claim or grievance whatsoever against the said Company, its directors, stockholders, officers, agents or employees, all their successors and assigns, with respect to any matter incident to or arising out of my employment or the cessation thereof. Any consideration received by me shall not be taken by me or my heirs or assigns as an admission of liability by the Company, its directors, stockholders, officers, agents or employees; its successors and assigns for all legal intents and purposes, nor does its arise out of a Company rule or policy.
4. Undertake not to disclose confidential or commercially sensitive information obtained in the course of my employment with the Company to any other party at any time, directly or indirectly, without prior written consent of (Name of Company). I understand that this obligation of confidentiality shall subsist in perpetuity.
5. I have read and understood this document and the release, waiver and quitclaim executed herein is given by me willingly and voluntarily and that this is a full settlement of my Separation pay and other benefits from the Company, its directors, stockholders, officers, agents and employees, their successors and assigns.
IN WITNESS WHEREOF, I have hereunto set my hand this (Date of Signing) at (Place of Signing).
(NAME OF FORMER EMPLOYEE)
Releaser
Signed in the presence of: ________________________ ________________________
ACKNOWLEDGMENT
Republic of the Philippines )
City of Cebu ) S.S.
BEFORE ME, a Notary Public in and for (Place of Notarization), this (Date of Notarization), personally appeared (Name of Signatory), with (Government ID Details), valid until (Date of Expiry) known to me to be the same person who executed the foregoing instrument and acknowledged the same as his/her own free will and deed.
WITNESS MY HAND AND NOTARIAL SEAL on the date and place first above written.
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of _____.
