HR Liquidation Document

HR LIQUIDATION DOCUMENT

This HR Liquidation Document (the "Agreement") is entered into by and between Employer Name: and Employee Name: . Effective Date: .

Recitals

WHEREAS, Employee was employed by Employer in the position described below; and WHEREAS, the parties desire to effect a final liquidation and settlement of all compensation, benefits, and claims arising from Employee's employment and separation; and WHEREAS, this Agreement constitutes a full, final and binding settlement upon the terms set forth herein.

Personal Information

Position Information

Employment Start Date:    Separation/Termination Date:

Liquidation Calculation — Itemized Final Compensation

Base salary due (pro rata): $

Accrued but unused vacation/sick pay: $

Performance bonuses/commissions owed: $

Deductions authorized by Employee (e.g., advances, property charges): $

Gross liquidation amount: $

Estimated net payment after withholding: $

Payment Terms and Schedule

Payment method:    Payment date:

If payment is to be made in installments, specify schedule and amounts below:

Tax Withholding and Deductions

All payments are subject to applicable federal, state and local tax withholding and employment-related deductions as required by law. Employee acknowledges and agrees that Employer will withhold amounts required by law.

Employee acknowledges withholding:

Return of Company Property

Employee represents that the following company property has been returned to Employer. If items remain outstanding, they will be subject to deduction or repossession as permitted by law.

Confidentiality and Non-Disparagement

In consideration of the payments and benefits provided under this Agreement, Employee agrees to maintain in confidence Employer's proprietary information and trade secrets and to refrain from making disparaging public statements about Employer. The parties agree that reasonable injunctive relief will be available for any breach.

Employee accepts confidentiality and non-disparagement:

Release of Claims

In consideration of the payments and benefits provided hereunder, Employee knowingly and voluntarily releases and forever discharges Employer, its affiliates, officers, directors, employees and agents from any and all claims, demands, liabilities or causes of action, whether known or unknown, arising out of or related to Employee's employment or separation, to the fullest extent permitted by law. This release does not waive claims that cannot be waived by law.

Employee acknowledges the release:

Representations and Warranties

Each party represents that it has full power and authority to enter into this Agreement and that the individual signing on its behalf is authorized to do so. Employee represents that all information provided to Employer is true, complete and correct.

Employment History

From:    To:

From:    To:

Education

Graduation Date:

References

Legal Disclosures

At-Will Employment: Employee acknowledges that nothing in this Agreement alters the at-will nature of employment unless a separate written agreement signed by both parties expressly states otherwise.

Equal Employment Opportunity: Employer reaffirms its policy of providing equal employment opportunity and not discriminating on any protected basis.

Authorization to Contact and Background Checks

Employee authorizes Employer to contact prior employers, references, and relevant parties for purposes related to verification and finalization of liquidation and settlement. Employee further authorizes the conduct of any background checks required to effectuate this Agreement.

Consent to contact and checks:

Applicant Certification

I certify that all information provided in this document is true, complete and correct to the best of my knowledge. I understand that any material misrepresentation or omission may constitute grounds for denial of the liquidation arrangement or other corrective action.

Certification:

Miscellaneous Provisions

Governing Law: This Agreement will be governed by and construed in accordance with the laws of the jurisdiction where Employer's principal place of business is located, without regard to conflict of laws principles.

Entire Agreement: This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements or understandings, whether written or oral.

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