Last Chance Agreement
This Last Chance Agreement ("Agreement") is made and entered into as of [DATE] ("Effective Date") by and between [YOUR NAME] in the capacity of Management ("Management") and [EMPLOYEE NAME] ("Employee").
1. BACKGROUND
Management and Employee have previously discussed issues regarding Employee's performance at work. Despite the measures taken and previous warnings given, no noticeable improvement has been made in Employee's performance. It is upon this premise that both parties are entering into this Agreement to explicitly outline steps for improvement and consequences of continued poor performance.
2. OBJECTIVE OF THE AGREEMENT
The primary objective of this Agreement is to formally address and discuss the ongoing issues regarding Employee's persistent poor performance. It aims to provide a thorough, clearly defined, and agreed-upon plan to improve employees' work performance within a specified period.
3. PERFORMANCE IMPROVEMENT PLAN
The Employee agrees to undertake a Performance Improvement Plan designed and facilitated by Management. The specific parameters of the Improvement Plan will be based on the identified areas of underperformance and will have clear targets and timelines for the anticipated performance improvements.
4. DURATION
This Agreement will be implemented starting from the Effective Date mentioned above and will continue for a period of [PERIOD IN MONTHS], unless extended or terminated earlier per the conditions of this Agreement.
5. REVIEW AND MONITORING
Regularly, Management will conduct reviews to assess the progress of Employees about the agreed-on Performance Improvement Plan. Feedback will be provided to help in the continuous enhancement of the Employee's performance.
6. CONSEQUENCES OF NON-IMPROVEMENT
If, following the implementation of the Performance Improvement Plan, Employee's performance does not meet the agreed-upon standards, Management may take further action, which might include but not be limited to warnings, demotions, or possible termination.
7. CONFIDENTIALITY
Both parties agree to keep the contents of this Agreement confidential and not to disclose it to any third party without the prior written consent of the other party unless compelled to do so by law.
This Agreement is binding upon and benefits both parties and their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns.
[YOUR NAME]
[DATE SIGNED]
[EMPLOYEE NAME]
[DATE SIGNED]
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