[EMPLOYMENT CASE]
CONFIDENTIAL SETTLEMENT, SEPARATION, AND RELEASE AGREEMENT
This Confidential Settlement, Separation, and Release Agreement (“Settlement
Agreement”) is entered into as of _____________, ____, (the “Effective Date”) by and between
Jane Employee (“Plaintiff”) and XYZ Corp. (“XYZ”).
RECITALS
A.
WHEREAS, Plaintiff filed a lawsuit against XYZ on ______________, ____
which is currently pending in the _________________________ Court, is entitled Employee v.
XYZ Corp., and bears Case No. _________________(“Lawsuit”); and,
B.
WHEREAS, Plaintiff and XYZ (collectively the “Parties”) negotiated a settlement
effective ___________; and,
C.
WHEREAS, the Parties desire to resolve the claims asserted in the Lawsuit on the
terms set forth in this Confidential Settlement and Release Agreement ("Settlement
Agreement"); and,
D.
WHEREAS, the Parties have agreed that it is in their mutual interest to terminate
their employment relationship such that Plaintiff shall no longer be employed by XYZ or any of
its subsidiaries, related entities, or successors, as more fully set forth hereinafter;
NOW THEREFORE, in consideration of the mutual promises made herein, the Parties
hereby agree as follows:
AGREEMENT
1.
XYZ's Obligations. XYZ shall pay to the total sum of
________________________________ ($__________) (“Settlement Payment”) within three (3)
weeks of the receipt by counsel for XYZ of the executed Settlement Agreement and W-9 forms
from Plaintiff and her attorneys. XYZ shall issue checks for the Settlement Payment as follows:
1) one check made out to "Jane Employee " in the amount of _______________ ($__________)
less applicable withholdings, for lost wages; 2) a second check made out to “Jane Employee” in
the amount of __________________________ ($__________) reported via 1099 in order to
compensate plaintiff for her claims of non-economic damages, including emotional distress; and
3) a third check made out to “Plaintiff’s Law Firm” in the amount of ___________________
($___________) reported via 1099 in order to compensate plaintiff’s counsel for a portion of its
attorney’s fees. All three checks shall be delivered to the law firm of “Plaintiff’s Law Firm.”
2.
Dismissal by Plaintiff. Plaintiff shall, within five days of execution of this
Settlement Agreement, execute and deliver to counsel for XYZ a completed Request for
Dismissal with Prejudice of the Lawsuit. Upon XYZ’s mailing of the Settlement Payment to