RELEASE WAIVER AND QUITCLAIM

RELEASE WAIVER AND QUITCLAIM

I,
(name
of
employee),
of
legal
age,
residing
at
_____________________________, hereby acknowledge the involuntary and
lawful termination of my employment from _________________________ (the
Company) effective _________ and manifest and declare that:
1.
I
have
received
and
been
paid
the
amount
of
_______________PESOS (P______________) by way of Cash (or Check No.
______________), representing full and complete settlement of my separation
pay and/or retirement pay from the Company. I further declare that I have already
been paid in full all amounts representing my salaries, allowances and other
benefits, monetary or otherwise, due me from the Company, its stockholders,
officers, directors, agents and/or its employees, whether such amount, are due
me by virtue of any law, Company program, and/ or Company practice.
2.
In consideration of the foregoing payments, I hereby acknowledge
and accept the involuntary and lawful termination of my employment with the
Company and hereby release, remise, waive and forever discharge the
Company, its stockholders, officers, directors, agents and/or its employees from
any action, whether civil, criminal, administrative or otherwise, or from any claim
of any kind or character on account of the termination or cessation of my
employment and/or arising out of or in the course of my employment with the
Company, such as, for example, salaries, allowances, holiday pay, fringe
benefits, separation and retirement pay, etc.
3.
I undertake not to do or cause anything prejudicial to the interests
of the Company or of any of its departments or divisions or of its officers,
directors or stockholders. I also agree that whenever so requested, without any
expectation of compensation, except where it involves a considerable amount of
my time, I will assist the Company in any reasonable manner that may be
requested of me relative to any matter of which I have knowledge by virtue of my
previous employment therewith.
4.
I will not at any time in any manner whatsoever, directly or
indirectly, disclose to any person or entity any confidential information of any kind
relating to the business of the Company, including but not limited to, any of its
clients or any other confidential information concerning the business of the

Company, its manner of operation, its plans, processes or date of any kind which
I acquired, learned or received in confidence during my employment.
5.
I shall render every cooperation necessary and obligate myself to
turn over and account for all Company records, books, properties, and assets in
my possession.
6.
I further acknowledge that should I be awarded any claim under
any law or any order of a competent authority, the above-mentioned
considerations shall be considered full and final settlement of any and all such
claims.
7.
I have no cause of action whatsoever against the Company, its
Board of Directors, its officers or employees in respect of any matter incident to
or arising out of my employment with said Company or due to the cessation of
said employment.
8.
Finally, I have read this document entitled Release Waiver and
Quitclaim, and fully understood every word of it and its meaning and have affixed
my signature hereunder voluntarily and freely with the full and complete
knowledge of the meaning and intent of this document and of my rights under
existing laws.
AFFIANT FURTHER SAYETH NAUGHT.
(name and signature of employee)
Affiant
SIGNED IN THE PRESENCE OF:
____________________________

______________________________

SUBSCRIBED AND SWORN to before me this ___ day of ____________,

affiant exhibiting to me his Community Tax Certificate No. __________ issued on
____________________ at ___________________________.
Administering Officer