Employee Termination Agreement And Mutual Release Form (Page 2 of 5) in pdf

TERMINATION OF [EMPLOYEE]

EMPLOYMENT AGREEMENT AND

MUTUAL RELEASE

This TERMINATION EMPLOYMENT AGREEMENT AND MUTUAL RELEASE is

entered into as of the ___ day of ________, 20__, by and between [COMPANY NAME], a

__________ corporation (the “Company”), and [EMPLOYEE NAME], of [ADDRESS,

CITY/STATE] (“Employee”).

WHEREAS, on ____________, 20__, the Company and Employee entered into a certain

Employment Agreement (the “Employment Agreement”) which Employment Agreement

provides the terms and conditions under which Employee would be employed by the Company

as the [POSITION];

WHEREAS, Section __ of the Employment Agreement provides that the Company may

terminate Employee’s employment with the Company for “good cause”, which term is defined

in the Employment Agreement;

WHEREAS, Section __ of the Employment Agreement further provides that the parties

may terminate the Employment Agreement by mutual written consent at any time upon such

conditions as they may agree;

WHEREAS, Section __ of the Employment Agreement further provides that in the event

of termination of the Employment Agreement, neither Employee nor Employee’s successors

shall be entitled to any further payments thereunder or to any damages of any kind whatsoever,

other than accrued but unpaid wages due to Employee up to the date of termination;

WHEREAS, following continuing and repeated incidents involving Employee, which

incidents the Company has reviewed with Employee on numerous occasions, Employee has

demonstrated to the Company [HIS OR HER] ineffectiveness as an employee; and

WHEREAS, after careful consideration of all such incidents and Employee’s failure to

take corrective action and/or to perform the duties expected of [HIM OR HER] as [TITLE], the

Company has determined that it is in the best interest of the Company to terminate the

Employment Agreement.

NOW, THEREFORE, in consideration of the mutual covenants exchanged herein, and

for other good and valuable consideration, the receipt and sufficiency of which is acknowledged

by the parties hereto, the parties hereby agree as follows:

Termination of Agreement. The Employment Agreement by and between Employee

and the Company is terminated, effective as of the date first set forth above.

Termination of Employment Agreement

Employee Termination Agreement And Mutual Release Form Page 2