Can An Employer Fire Me For Not Signing A Release Agreement Saying I Won’t Ever Sue Them?

Hi everyone. My company is based out of CA but I am a remote worker in TN.

Recently, my company switched us from salary to hourly. However, in doing some research I learned that this was likely due to the fact that they were under paying us for years. As salaried employees, we’re meant to make double the minimum wage as our salary which we were not making. So, our employer owes us money.

Now, the company has issued paperwork to be signed due to this change and one of those documents is a “Release Agreement” which essentially states that I am not allowed to sue them.

The exact wording used is: “…"Employee"), HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, GENERALLY RELEASES, AND FOREVER DISCHARGES the Company and each of its past, present and future affiliates, related entities, parent companies, subsidiary companies, divisions, shareholders, members, predecessors, officers, directors, managers, employees, independent contractors, trustees, fiduciaries, administrators, executives, agents, representatives, principals, accountants, insurers, attorneys, and each of their respective successors and assigns (collectively, the "Company Released Parties") from any and all claims, charges, demands, sums of money, actions, rights, promises, agreements, causes of action, obligations, losses, suits, costs, counsel fees, penalties, interest, and liabilities of any kind or nature whatsoever, at law or in equity, WHETHER KNOWN OR UNKNOWN, existing or contingent, suspected or unsuspected, apparent or concealed, foreign or domestic which Employee has now or in the future may claim to have against any or all of the Company Released Parties based upon, arising out of, or in any way relating to any facts, acts, conduct, omissions, transactions, occurrences, contracts, claims, events, causes, matters or things of any conceivable kind or character existing or occurring or claimed to exist or to have occurred prior to Employee's execution of this Agreement that are in any way based upon, arising under, or relating to Employee's work with the Company, the payment for rest breaks, straight time, overtime, or any missed meal period violations, or any other violation of state or federal law, the termination of Employee's Offer Letter and Commission Agreement with the Company, or Employee's services as an employee of the Company (hereinafter collectively referred to as the "Released Claims")”

Amongst many more pages of legal jargon. I want to consult a lawyer, however they are on me to sign this paper claiming they need it in order to be able to pay me properly. I do not want to sign before speaking with a lawyer but I’m worried I’ll lose my job. Is it legal for them to do so?

Thank you in advance.