Sample Separation Agreement And Release printable pdf download

Sample Separation Agreement and Release

[Date]

Name of Employee Street Address City, State, Zip

Dear [Name of Employee]:

This letter confirms your termination as [specify title] of [Name of Company] (the "Company")

effective [specify date].

Our understanding and agreement with respect to your separation is as follows:

1. Your total and final compensation from the Company shall be provided to you as follows:

a) You will receive a lump sum payment of [specify amount] (less statutory deductions) in the

form of a Company check to be sent to you Seven (7) days following the execution of this letter.

b) You will continue to be covered under the Company's group medical, dental, vision and life

insurance programs until [specify date], which expense shall be covered by the Company and

you at the same proportionate rates as are being paid on the date of separation. Thereafter, you

may continue to be covered under the Company's group health insurance program, at your

expense, for a period of 18 months (or such longer period as may be required by law) or until you

become covered by any other group health plan, whichever occurs first. This continued coverage

will be subject to and in accordance with the terms of the documents governing the program.

c) A check in the amount of [specify amount], representing all accrued but unused vacation (less

statutory deductions), will be mailed to you on [specify day and date].

d) The Company agrees to provide you with a letter of reference attached hereto.

e) Other than as set forth herein, you will not receive any compensation or benefits of any kind

from the Company and you expressly acknowledge and agree that you are not entitled to any

such payment or benefit, with the exception of any vested benefit to which you have or will

become entitled under the [specify company] Pension Plan.

2. You understand and agree that the compensation and benefits provided for herein are being

provided to you in consideration for the covenants undertaken and the releases contained in this

Agreement.

3. a) You agree to accept the compensation and benefits provided for herein in full resolution and

satisfaction of, and hereby IRREVOCABLY AND UNCONDITIONALLY RELEASE, REMISE AND

FOREVER DISCHARGE the Company from any and all liabilities, actions, causes of action,

contracts, agreements, promises, claims and demands of any kind whatsoever, in law or equity,

whether known or unknown, suspected or unsuspected, fixed or contingent, apparent or

concealed, which you, your heirs, executors, administrators, successors or assigns ever had, now

have or hereafter can, shall or may have for, upon, or by reason of any matter, cause or thing

whatsoever, from the beginning of the world to the day of the date of this Agreement and

Release, including, without limitation, any and all claims arising out of or relating to your

employment, compensation and benefits with the Company and/or the termination thereof

including, without limitation, contract claims, benefit claims, tort claims, harassment, defamation

Note: This document is for informational purposes only and may not be appropriate for

your situation. Please consult an attorney for all legal matters.

Sample Separation Agreement And Release