Job Separation Agreement Template

This job separation agreement template has 3 pages and is a MS Word file type listed under our legal agreements documents.

Sample of our job separation agreement template:

JOB SEPARATION AGREEMENT This Job Separation Agreement (the "Agreement") is made and effective this [DATE], BETWEEN: [EMPLOYER NAME] (the "Employer"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], [COUNTRY], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [EMPLOYEE NAME] (the "Employee"), an individual/company with their main address located at: [COMPLETE ADDRESS] WHEREAS, the Employee has been employed by the Employer since [START DATE]; WHEREAS, the Employer and the Employee have mutually agreed to terminate the Employee's employment under the terms and conditions set forth herein; WHEREAS, the Employer and the Employee desire to settle fully and finally all outstanding matters between them, including any claims arising out of the Employee's employment with the Employer and the termination thereof; IT IS HEREBY AGREED THAT: Termination of Employment 1.1 Termination Date. The Employee's employment with the Employer shall terminate on [TERMINATION DATE] (the "Termination Date"). 1.2 Final Compensation. The Employee shall receive all earned salary, accrued but unused vacation time, and any other compensation due through the Termination Date, which will be paid on the next regular payroll date following the Termination Date. SEVERANCE PAYMENT 2.1 Severance Amount. In consideration of the Employee's acceptance of this Agreement and compliance with its terms, the Employer agrees to pay the Employee a severance payment in the amount of [SEVERANCE AMOUNT] (the "Severance Payment"). 2.2 Payment Schedule. The Severance Payment shall be paid in [lump sum/installments] as follows: [DETAIL PAYMENT SCHEDULE]. Benefits 3.1 Health Insurance. The Employee's health insurance benefits shall continue through [DATE] in accordance with the terms of the Employer's health insurance plan. Thereafter, the Employee may elect to continue health insurance coverage at the Employee's own expense as provided by the Consolidated Omnibus Budget Reconciliation Act (COBRA). 3.2 Other Benefits. Any other benefits will terminate on the Termination Date in accordance with the terms of the applicable benefit plans. Release of Claims 4.1 Release