Non-Compete Obligations Waiver and Release

Summary

This waiver and release template waives certain provisions of a non-competition agreement between an employer and its employee. This template contains practical guidance, drafting notes, and an alternate clause. An employer and an employee who are parties to a non-competition agreement can waive certain provisions of the agreement in order to allow the employee to work for a competing employer or enter into a competing business. Employers may negotiate such waivers in exchange for a reduction in the amount of severance pay or other separation benefits that a terminated or separated employee might otherwise demand. The parties can use this wavier and release as a stand-alone agreement that modifies the non-competition agreement or as part of an employee separation agreement. For information on drafting separation agreements, see Separation Agreements: Key Negotiating Issues (Pro-Employee) and Separation Agreements: Drafting and Negotiation Tips (Pro-Employer). For a model non-jurisdictional separation agreement, see Separation Agreement. For more information on non-compete agreements, see Restrictive Covenant Basics, Including Adequate Consideration, Protectable Interests, Geographic and Time Restrictions, and Permissible Scope, Restrictive Covenants: Drafting Common Provisions, Restrictive Covenants: Enforcement Tips, Non-compete Agreements Checklist (Best Drafting Practices for Employers), and Non-compete and Non-solicitation Agreements Checklist (Addressing Suspected Violations). For a model non-compete agreement, customer and employee non-solicitation, and confidentiality agreement, see Non-compete, Customer and Employee Non-solicitation, and Confidentiality Agreement. For a sample non-competition, non-solicitation and confidentiality agreement, see Non-competition, Non-solicitation and Confidentiality Agreement. For information on state laws concerning non-compete agreements, see Non-competes and Trade Secret Protection State Practice Notes Chart. For state law compliant non-compete agreements, see Non-competes and Trade Secret Protection State Expert Forms Chart.