30

8+ Severance Agreement Templates

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.

Employee Severance Agreement Template

Details
File Format
  • PDF

Size: 83 KB

Download

Executive Severance Agreement Template

Details
File Format
  • PDF

Size: 16 KB

Download

Severance Package Agreement Template

Details
File Format
  • PDF

Size: 349 KB

Download

Severance Pay Agreement Template

Details
File Format
  • PDF

Size: 79 KB

Download

Standard Severance Agreement Template

Details
File Format
  • PDF

Size: 73 KB

Download

What Is the Purpose of a Severance Agreement?

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.

Reasons for End of Contract?

  • Performance – this is only applicable for companies. This will be handed out when an employee is terminated by the employer due to poor performance at work.
  • Breach of Contract – this will apply to both employer-employee or business partners. The termination of contract occurs when either of the party failed to comply with the agreement. Most likely, this is being handed out when the situation gets worse or abusive like repeated noncompliance and several violations.
  • Recission – it is an act of cancellation of the agreement of either of the involved parties and the reason may differ, it could be personal or perhaps some other significant reasons such as conflicts on other important matters.

Similar Agreement Samples

  • Separation Agreement – This is an agreement similar to the severance agreement but only it pertains on a more personal level, such as an end of a marriage contract, wherein both couples decided to separate for some irreconcilable reasons.
  • Confidentiality Agreement – or better known as a Nondisclosure Agreement, is a type of agreement that discloses confidential matters of the company such as important information like the company’s rules and regulations, resources, clients, and the company’s annual productivity report.

Severance Release Agreement Template

Details
File Format
  • PDF

Size: 9 KB

Download

Basic Mortgage Severance Agreement Template

Details
File Format
  • PDF

Size: 119 KB

Download

Director Severance Agreement

Details
File Format
  • PDF

Size: 23 KB

Download

Land Severance Agreement

Details
File Format
  • PDF

Size: 55 KB

Download

How Do I Use These Severance Agreement Templates?

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.

More Agreement Samples

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.

You may also like

Read More Articles about

BusinessAgreements