Full and Final Settlement Letter
Full and Final Settlement Letter
I. Introduction
This letter serves as a full and final settlement confirmation between [EMPLOYEE NAME] and [YOUR COMPANY NAME] regarding all matters related to employment and termination of employment. This settlement is made in regard to the terms of the employment agreement and any applicable workplace policies.
II. Termination Details
Termination Date: [TERMINATION DATE]
Reason for Termination: [REASON FOR TERMINATION]
III. Settlement Terms
Final Pay: [FINAL PAY AMOUNT], payable by [PAYMENT DATE]
Compensation:
Bonus: [BONUS AMOUNT]
Unused Vacation Pay: [VACATION PAY AMOUNT]
Deductions:
Tax Deductions: [TAX DEDUCTION AMOUNT]
Other Deductions: [OTHER DEDUCTION DETAILS]
Additional Agreements: [ADDITIONAL AGREEMENT DETAILS]
IV. Release of Claims
By signing this agreement, [EMPLOYEE NAME] releases [YOUR COMPANY NAME], its affiliates, officers, and employees from any claims, demands, or legal actions related to [EMPLOYEE NAME]'s employment and its termination.
V. Confidentiality
Both parties agree to maintain the confidentiality of the terms of this settlement and the circumstances surrounding it, except as required by law or with prior written consent from both parties.
VI. Agreement Validity
This agreement is binding upon the parties, their successors, and assigns. It is acknowledged that this settlement represents a compromise of disputes and is not to be construed as an admission of any liability or obligation by either party.
VII. Signatures
[EMPLOYEE NAME]
[DATE]
[EMPLOYEE REPRESENTATIVE]
[DATE]
