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Separation & Release
As a business owner or Human Resources Manager, you have decided to make some personnel changes. How do you separate the employee(s) from the firm, and best protect the proprietary interests of the company? Review the language in the following agreement as a framework for an amicable and litigation-free termination. CONFIDENTIAL [date] [Name and Address] Re: Separation Agreement and General Release Dear [name of employee]: This letter proposes the following Separation Agreement and General Release ("Agreement") between you and I. Background A. You were employed by the Company as B. On [date], your employment with the Company terminated. II. Terms of Agreement In order to effect the termination of your employment and to provide you with certain benefits that you would not otherwise be entitled to, you and the Company agree as follows: 1. This Agreement shall not be in any way construed as an admission by the Company that it has acted wrongfully with respect to you or any other person, or that you have any rights whatsoever against the Company. 2. Even if you do not sign this Agreement, the Company will pay you the compensation that you have earned through the date of your termination, any accrued vacation benefits, and [insert any appropriate profit sharing, etc. plan name here] in accordance with the terms and conditions of such plan. Similarly, even if you do not sign this Agreement, you will be offered benefits to which you are entitled under the Consolidated Omnibus Budget. Reconciliation Act of 1985 ("COBRA"), and you retain all benefits under the Company's 401(k) Plan. 3. In exchange for the promises contained in this Agreement and release of claims as set forth below, and provided that you sign this agreement and return it to me by [date, 21 days from date of letter], and do not revoke this Agreement as set forth in Paragraph 15(d): Want to know more? Download the White Paper "Separation & Release" for just $9.95. People who ordered this paper also ordered: |
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