Separation Agreement
This Employment Separation Agreement (hereinafter referred to as the "Agreement") is made and entered into this [Date] by and between [Your Name] (hereinafter referred to as the "Employer"), and [Employee's Name] (hereinafter referred to as the "Employee").
RECITALS
WHEREAS, the Employee was previously employed by the Employer; and
WHEREAS, the Employee's employment with the Employer has been terminated; and
WHEREAS, the Employer and the Employee wish to define and set forth the terms of the Employee's separation from the Employer.
TERMS AND CONDITIONS
1. Termination of Employment
The Employee's employment with the Employer was terminated effective [Termination Date]. The Employee shall return all property of the Employer no later than [Return Date].
2. Severance Pay
In consideration of the promises and covenants contained herein, the Employer agrees to pay the Employee severance pay in the amount of [Severance Amount], payable by the Employer's standard payroll procedures.
3. Continuation of Benefits
The Employer shall provide the Employee with health insurance benefits, at the Employee’s expense, for a period of up to [Benefit Duration Months] months after the effective date of termination, or until the Employee becomes eligible for equivalent health insurance coverage through another employer, whichever occurs first.
4. Confidentiality
The Employee agrees to keep confidential all non-public information regarding the Employer’s operations, personnel, and business affairs, both during and after the Employee’s employment, except when disclosure is required by law or authorized by the Employer.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, and assigns.
SIGNATURES:
[Your Name]
[Your Company Name]
[Employee's Name]
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