This severance agreement provides a mechanism to conclude or discontinue any employee / employer relationship with ease.
About this document
This is a straightforward severance agreement, often called a termination agreement, a settlement and release agreement or an employee separation agreement (not to be confused with a separation agreement used for family law).
The agreement sets the terms for the lay-off and is fair to both parties.
It does not include a ‘release of claims’ paragraph (which would result in waiver of the employee’s rights to sue the employer). Whilst many severance agreements do include such paragraphs, it has been proven that such paragraphs do not always stand watertight in a court of law. There have been cases where the employee has successfully sued their employer even though the termination agreement included a release provision.
Set the terms clearly and agree the decision in writing to ensure a swift and easy termination.
Application
and features
Suitable for a variety of staff – permanent, temporary, part time, casual, senior or junior
Flexible paragraphs to suit your needs
Written in plain English
Contents
Employee resignation
Payment of sum in lieu of resignation
Withholding of taxes
Confidentiality
Company’s property to be returned
Liability
No duress
Jurisdiction
Word
Count (approximate):
Document: 473
words
Explanatory notes:
214
words
Draftsman
This is a Net Lawman drawn document. We also offer low cost legal advice. You can learn more and instruct us at Expert Legal Advice.
