The Wayne Michigan Agreement to Redeem Liability for Workers' Compensation is a legal document that outlines the terms and conditions between the employer and employee regarding the settlement of a workers' compensation claim. This agreement is specific to cases that involve redeeming liability, which means that the employer agrees to make a one-time payment to the employee in exchange for releasing them from any further claims related to the workplace injury or illness. In Wayne County, Michigan, there are various types of agreements to redeem liability for workers' compensation, including: 1. Lump Sum Redemption Agreement: This type of agreement involves the payment of a fixed lump sum amount to the injured employee, which is intended to compensate them for all future medical expenses, lost wages, and other damages related to the workplace injury. By accepting this payment, the employee agrees to waive their right to any future claims or benefits. 2. Structured Settlement Redemption Agreement: This agreement involves the payment of compensation in installments over a specified period. The employer agrees to make regular payments to the employee, which may be monthly, quarterly, or yearly, depending on the agreement's terms. This option allows the employer to distribute the settlement amount over time while providing financial security to the employee. 3. Partial Redemption Agreement: In cases where the employer assumes only partial liability for the workplace injury, a partial redemption agreement may be entered into. This agreement outlines the specific amount or percentage of the employee's claim that the employer agrees to redeem, while leaving the remaining portion of the claim open for future benefits or compensation. 4. Third-Party Redemption Agreement: This type of agreement typically involves cases where a third party, other than the employer, is found partially or entirely responsible for the workplace injury. In such cases, the agreement specifies the amount or percentage of redemption that the third party will pay to the injured employee, relieving both the employer and the third party from further liability. The Wayne Michigan Agreement to Redeem Liability for Workers' Compensation is a crucial document that ensures both parties have a clear understanding of their obligations, rights, and the financial terms of the settlement. It is important to consult with a qualified attorney specializing in workers' compensation law to draft or review such agreements to ensure their legality and compliance with Michigan state laws.