Severance agreement is a contract that states and documents the termination of transaction between both parties, be it through employer-employee relations or perhaps between business partners. Usually, the contract includes a severance package such as the last pay and other benefits. There are also other conditions applied to it such as forbidding the employee or former business partner to work or collaborate with a competitor within a certain timeline.
Some organizations includes the severance agreement on their job contract. For more agreement sample layouts, you might want to check out these 8+ severance agreement templates. It provides the best quality template sample that can be easy to download and use.
The severance agreement will serve as a clear proof between the two parties’ detachment with the business or employment transaction. It also states a clear expectation and deal within the relationship of two the two parties, that must need to be adhered.
If either of the party fails to comply with the agreement and continues to use the relationship for other illegal transactions, then the agreement will be used as a legal proof or evidence of the current status between two parties.
All the sample templates on this article are saved in PDF format, therefore this makes the templates print-ready but not convertible or could not be edited on any word-editing software but could possibly work on a PDF Editor.
You can check out Template.net for more high quality sample templates as it offers different types of templates such as Graphic Templates, Web Templates, and Legal Documents (such as these Vendor Agreement samples) that can be used on different settings, either for school projects, professional graphic design purposes, web design purposes, and creating legal documents either for business agreement or a job application letter.