Sample Severance Agreement And Release

This agreement does not waive any rights or claims that employee may have which arise after the date the employee signs this agreement.

Sample severance agreement and release. By making this agreement company does not admit that it has done anything wrong. A severance agreement is absolutely necessary if you are going to provide a terminated employee severance pay. This contract defines any severance package and the conditions under which it will be provided or withheld. A severance agreement template should include details like how much pay the employee will be entitled to after termination when benefits will be discontinued etc.

Statements to unemployment board and to others. A severance agreement is a contract between an employer and an employee that contains rules and guidelines for when an employee is terminated. Company makes this agreement to avoid the cost of defending against any possible legal action. This agreement and release sets forth the entire agreement between the parties hereto and fully supersedes any and all prior agreements or understandings between the parties hereto pertaining to the subject matter hereof.

The company s payments of severance are expressly conditioned upon x the executive executing and delivering to the company a timely and effective separation agreement which shall include but not be limited to a general release of claims by the executive in the form attached hereto as exhibit b and y the executive s continued.