This california severance agreement template has 4 pages and is a MS Word file type listed under our business plan kit documents.
Sample of our california severance agreement template:
SEVERANCE AGREEMENT (CALIFORNIA) This Severance Agreement (the "Agreement") is effective [DATE], BETWEEN: [EMPLOYEE NAME] (the "Employee"), an individual with their principal place of residence located at: [COMPLETE ADDRESS] AND: [COMPANY NAME] (the "Company"), a company organized and existing under the laws of [STATE/PROVINCE], with its principal place of business located at: [COMPLETE ADDRESS] WHEREAS, the Employee's employment with the Company will terminate as of [TERMINATION DATE]; and WHEREAS, the Company and the Employee wish to establish an amicable arrangement concerning the terms of the Employee's termination and the payments and benefits that will be provided as severance; NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties agree as follows: TERMINATION OF EMPLOYMENT Termination Date: The Employee's last day of employment with the Company will be [TERMINATION DATE] (the "Termination Date"). From the Termination Date onward, the Employee will no longer represent the Company in any capacity. SEVERANCE PAYMENT AND BENEFITS 2.1 Severance Payment: The Company agrees to provide the Employee a severance payment in the amount of [AMOUNT], less applicable taxes and withholdings. This payment will be made within [NUMBER OF DAYS] days following the Termination Date, provided that this Agreement is signed, returned, and not revoked within the timeframes specified herein. 2.2 Health Benefits (COBRA): The Employee will be eligible to continue health benefits under the Consolidated Omnibus Budget Reconciliation Act (COBRA) at the Employee's expense, subject to the terms and conditions of COBRA. The Employee will receive information on how to continue coverage from the Company's benefits provider. 2.3 Accrued Wages and Vacation: The Company agrees to pay the Employee all accrued wages, unused vacation, and any other compensation due through the Termination Date, in accordance with California law. This payment will be made no later than the Employee's final paycheck on [FINAL PAYCHECK DATE]. 2.4 Bonus/Commission: If the Employee is eligible for a bonus or commission under any Company plan, the Employee will receive a prorated payment based on the time worked through the Termination Date, payable in accordance with the Company's regular payment schedule. RELEASE OF CLAIMS 3.1 General Release: In consideration of the severance payment and other benefits provided under this Agreement, the Employee, on behalf of themselves and their heirs, assigns, and successors, agrees to release and forever discharge the Company and its officers, directors, employees, agents, affiliates, successors, and assigns from any and all claims, liabilities, demands, and causes of action, known or unknown, arising out of or in any way related to the Employee's employment with or separation from the Company. This includes, but is not limited to, claims under the California Fair Employment and Housing Act (FEHA), Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act (ADEA), the Family and Medical Leave Act (FMLA), and any other federal, state, or local law. 3
