Unless you already have some sort of contractual arrangement, written or not, that restricts your employer's ability to terminate you at will, he/she can do so. This is completely independent of whatever he/she is asking you to sign at present.
If on the other hand you do have a contract right to the position, the employer may only eliminate this right by providing some commensurate benefit, such as extra pay, less workload, more fringe benefits, etc. Unless you feel adequately compensated by such extra benefit(s), refuse to agree to the amended contract.
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I agree with the other answer and simply want to clarify. Ohio is an at will employment state which means they can fire people for any or no reason at all (that is excluding the protected classes). You could wear an ugly shirt to work and you could be fired for that. Now, on the other hand, you cannot be fired because of your gender or race etc.
I MAY also depend on what they are asking you to sign. I would imagine what they are asking you to sign is proper and within the bounds of the law. If so, we are an at will state. You do not have to sign it. However...
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I agree with the other responses. I strongly recommend that you take the document they are requesting you to sign to an employment attorney for review. If you have an employment agreement or contract with the employer, you may want to enforce the terms of the agreement or negotiate a buy-out. If you are an at-will employee, the employer may terminate you for any reason or no reason whatsoever, so long as it is not an unlawful reason. Impermissible reasons include your membership in a protected classification or engaging in a protected activity. It seem probable that if you are an employee-at-will, the employer is seeking more than just the ability to terminate you without further notice. You should make sure that if you are waiving claims against the employer, you only do so in an informed manner. The information provided does not provide a complete picture and suggests to me that you would greatly benefit from a consultation with an attorney.
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