The Older Workers Benefit Protection Act (OWBPA)requires that a signed waiver of an employee's rights to file a claim under the ADEA be "knowing and voluntary".To be considered "knowing and voluntary",the waiver must satisfy each of the following requirements except:

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In connection with employee waivers of their rights to file discrimination actions under the ADEA, the OWBPA requires that every waiver must be "knowing and voluntary" to be valid. In order to satisfy this requirement, the waiver must meet all of the following requirements:
1. The waiver must be written in a manner calculated to be understood by an average employee.
2. The waiver must specifically refer to ADEA rights or claims (but may refer to additional acts, such as Title VII or applicable state acts).
3. The waiver only affects those claims or rights that have arisen prior to the date of the waiver (i.e., the employee is not waiving any rights that will be acquired after signing the waiver).
4. The waiver of rights to claims may only be offered in exchange for some consideration in addition to anything to which the individual is already entitled (this usually involves inclusion in an early retirement program).
5. The employee must be advised in writing to consult with an attorney prior to execution of the waiver (this does not mean that the employee must consult with an attorney, but must merely be advised of the suggestion).
6. The employee must be given a period of 21 days in which to consider signing a waiver, and an additional 7 days in which to revoke the signature. Note that where a waiver is offered in exchange for an early retirement plan, as opposed to some other consideration, the individual must have 45 days in which to consider signing the agreement.
If the waiver is executed in connection with an exit incentive (early retirement) or other employment termination program, the employer must inform the employee in writing of the exact terms and inclusions of the program. This information must be sufficient for the employee to test the impact of the selection decision made; in other words, does the decision about inclusion in the program have any discriminatory impact.

The Older Workers Benefit Protection Act (OWBPA)requires That a Signed