Employment Severance Agreement

A Severance Agreement details the mutual agreement between an employer and employee in which employee’s relationship with employer is terminated. This agreement sets forth the arrangement including the termination date and obligations of both employee and company. It also sets forth specifics regarding continuing insurance coverage and employee’s waiver of any claims. It is important that this type of agreement be in writing. A written Severance Agreement will be useful if there are future misunderstandings between the parties.

This Severance Agreement contains the following:

• Parties: Sets out the names of the employer and employee and agreement date;
• Termination Date: Date of employee's termination;
• Existing Company Obligations: Detailed list of company's obligations;
• Employee Obligations: Existing obligations of employee including return of all company property;
• Health Insurance: Employee's eligibility for continuing health insurance benefits;
• Release/Waiver of Claims: Employee waives and releases employer from all claims and causes of action;
• Confidentiality: Neither party will disclose the terms of this agreement;
• Signatures: Both employer and employee must sign and date this Severance Agreement.

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This attorney-prepared packet contains:

1. General Information
2. Step-by-Step Instructions
3. Severance Agreement

State Law Compliance: This form complies with the laws of all states

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• Includes:

  √ Instructions
  

• State:

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  Number of Pages:

   10

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