Employment Severance Agreement

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Employment Termination and Severance Agreement

{Company Name}                                   {Employee Name}
{Company Address}                               {Employee Address}
{Address Continued}                              {Address Continued}
{Contact Number}                                  {Contact Number}

This will stand as an Agreement between {Company} and {Employee}, setting forth the terms of {Employee's} severance from {Company}. Said severance is effective as of {Date}.

This Agreement is contingent upon the following terms and conditions:

1. Severance Pay

Upon termination of employment, no later than {length of time} after {Employee's} last day,{Company} will pay {Employee}, via check delivered to {Employee's address}, the amount of {amount in dollars}, less any applicable taxes.

2. Non-Disclosure

{Employee} agrees to return to {Company} all documents, property, or materials belonging to {Company}, or else risk forfeiture of severance pay outlined in Section 1 of this Agreement, and/or criminal prosecution. {Employee} also agrees to keep this Agreement confidential, and not share any details with any other current or former employees of {Company}. Further, {Employee} agrees to keep confidential any information and/or intellectual or physical property {he/she} gained while working at {Company}, under penalty of criminal prosecution and/or forfeiture of severance pay outlined in Section 1 of this Agreement.

3. Legal Action

By signing this Agreement, {Employee} agrees to release {Company} from any liability with regard to legal matters. This includes any lawsuits or actions arising from incidents that occurred while {Employee} was still employed at {Company}, through the date of the signing of this Agreement. {Employee} also agrees that this termination is lawful, that {he/she} is leaving on good terms, and without any workplace injuries, and therefore waives the right to any discrimination action(s) against {Company}, with regard to the term of employment. {Employee} also waives the right to any additional compensation from {Company}, other than the severance pay package outlined in Section 1 of this Agreement. Should either party be found in breach of this Agreement, the injured party has the right to pursue legal action.

This Agreement is signed and consented to this {date} day of {month}, {year}.

________________________                                 __________________________
Employee Printed Name                                          Company Representative Name

________________________                                 __________________________
Signature                                                                  Signature

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