Usually at my company, if there's a layoff, anyone laid off is offered a contract saying similar things to what yours says. The catch is that if the employee d

Usually at my company, if there's a layoff, anyone laid off is offered a contract saying similar things to what yours says. The catch is that if the employee does not sign, they don't get their severance pay or benefits which can be sizable. Everyone is allowed to sign or not sign but the contracts are 2 way streets (both sides get something). I've never heard of a contract being offered to those who are voluntarily quitting a job where they were an "at will" employee.