LEGALDOCS - Employment Termination and Release Agreement
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This Agreement can be used as a employment termination agreement where the termination results from a disagreement between the employer and employee, and the likelihood of litigation by the employee exists. This agreement provides for a variety of settlement options (monetary consideration, no consideration, or a non-monetary settlement), the possible designation of a specific person to handle employee recommendations, and provides that following termination, the employer will not provide damaging information to any prospective employers.
To create an Employment Termination Agreement, complete this form.
The Parties to the Agreement
Enter the name and, if applicable, the business capacity of the employer. (For example, "Acme Company, a Texas corporation" OR "Joe's Restaurant, a sole proprietorship")
Enter the name of the employee who will sign the termination agreement:
Terms of the Settlement
This Agreement gives you 3 settlement options. Either (i) a cash settlement (the most prevalent), (ii) a no-cash settlement where both parties walk from their relationship with no agreement except for a mutual waiver of claims, or (iii) a settlement that you can specify. Choose the appropriate option below, and if you choose (i) or (iii), fill in the missing information.
As a settlement to Employee, Employer will pay to Employee the total sum of $.
No monetary settlement amount is provided, and Employer and Employee agree to mutually waive any claims each has against the other, as otherwise set forth in the Agreement.
Complete the following sentence: All claims between Employer and Employee are settled on the following terms:
Use full sentences and punctuation. (For example: for the 12 months following the effective date of termination, Employer will pay for Employee's tuition costs at ABC Community College, plus the sum of $500 per month during such time period.)
Appointment of Agent to Provide References
The Agreement contains language that the circumstances behind the Employee's termination, and the facts leading to this Release Agreement shall remain confidential and shall not be divulged to prospective new employers. To make sure that type of confidentiality is maintained, employers and employees sometimes agree that only one certain person, i.e., the personell director, is empowered to discuss references with any prospective employer.
Do you want to name a specific person that is the only person empowered to talk to potential employers regarding the employee's performance and references?
Yes, and that person is .
Insert any additional matters you want to include in this agreement.
(For example: Employee shall vacate her desk and workspace no later than 3 pm on Friday, June 5th, 2002. Employee will be paid her full salary, plus benefits for the 14 day period ending on June 19th, 2002. Employee will furthermore be paid 4 accrued vacation days. Employee acknowledges that except for the payments set forth in this paragraph, Employee is not entitled to nor due any additional compensation resulting from her employment with Employer.)
Use complete sentences and correct punctuation.
Note: IF this area remains blank, there will be no reference
to "Additional Matters" in this agreement.
This Agreement will be signed in the
This Agreement shall be construed under the laws of the State of .
This completes the information input for your Employment Termination and Release Agreement. When you Send this Form, this program will prepare a Summary of the Employment Termination and Release Agreement for your review. Make sure that all facts stated in the Summary are correct in all respects.
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