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Download Business Tools
Termination Agreement
Updated: 11/22/2003


 
$29.00
Format: ms word

Provides a template for you to structure a Employment Release Agreement for employee terminations



Software Notes:

ACTUAL FIRST PAGE OF AGREEMENT:




Dear _______________:

This letter confirms that your services will no longer be required by XYZ Company (the “Company”) after ___________, 200_ and accordingly your active employment with the Company and its affiliates will end on such date. We wish you all the best in your future endeavors.

On the eighth day following your execution and delivery of a copy of this letter to the Company without any revocation thereof, the Company will make the following payments to you in full satisfaction of amounts owed to you as a result of your employment with the Company:

1.




2.

In addition, the Company will provide you with the following benefits until ___________, 200_, or sooner should you notify us, per your original employment agreement, that you are receiving equivalent benefits elsewhere:
1.


2.




By signing a copy of this letter and delivering such signed copy to the Company, you acknowledge and agree that the foregoing constitutes all of the payments and benefits to which you are entitled from the Company and its affiliates and agree to the terms of this letter (including the release set forth below).

By signing and delivering to the Company a copy of this Letter, you acknowledge and agree that (i) your employment with the Company and its affiliates will end on _________, 200_, (ii) you will be deemed to have voluntarily resigned as of such date, (iii) you have had an opportunity to consult with your legal counsel regarding this Letter, and (iv) you have voluntarily executed and delivered to the Company a copy of