Severance Agreement Template

SEVERANCE AGREEMENT

This Severance Agreement (the Agreement) is entered into by and between Employer Name: with principal address: and Employee Name: . Effective Date:

Personal Information

Position and Employment Details

Start Date:   Termination Date:   Last Salary (annual):

Severance Terms

Subject to the terms and Employee’s execution of this Agreement and any release required herein, Employer agrees to provide the following consideration:

Payment Method: Lump sum Installments over

All payments are subject to applicable federal, state and local tax withholdings. Employee acknowledges that the severance payments provided hereunder are in addition to any amounts payable under law or Employer policies except where expressly stated otherwise.

Release and Waiver of Claims

In exchange for the consideration set forth above, Employee, on behalf of Employee and Employee’s heirs, executors, administrators and assigns, hereby irrevocably and unconditionally releases and forever discharges Employer and its affiliates, officers, directors, agents, employees and insurers from any and all claims, liabilities, demands, causes of action, and damages of any nature, whether known or unknown, arising out of or related to Employee’s employment or separation from employment through the Effective Date, including but not limited to claims for wages, wrongful termination, discrimination, harassment, retaliation, breach of contract and statutory claims.

Confidentiality and Non-Disparagement

Employee agrees to keep the terms, negotiations and existence of this Agreement strictly confidential and will not disclose such information to third parties except as required by law or as necessary to enforce the terms of this Agreement. Employee further agrees not to make any false or disparaging statements about Employer, its officers, directors, or employees. Employer agrees not to make disparaging statements about Employee in connection with the matters addressed by this Agreement.

Return of Company Property; Cooperation

Employee represents that all Employer property, including but not limited to computers, phones, keys, access cards, documents, and confidential information, has been returned to Employer. Employee agrees to cooperate with Employer, at Employer’s expense if required, in any reasonable transition activities, investigations, or legal proceedings related to matters in which Employee has relevant knowledge.

Tax Withholding and Indemnification

Employer shall withhold all taxes required by law from any payments made pursuant to this Agreement. Employee agrees to indemnify and hold Employer harmless from any taxes, penalties or interest resulting from Employee’s failure to report or pay taxes due on amounts received hereunder, except to the extent such taxes result from Employer’s error.

Governing Law; Severability; Enforceability

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws principles. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

Acknowledgments; Right to Consult Counsel

Employee acknowledges that Employee has been advised in writing to consult with an attorney prior to signing this Agreement, has had the opportunity to review this Agreement, and is signing it voluntarily and without coercion. Employee further acknowledges that the consideration provided for execution of the release is in addition to anything of value to which Employee is otherwise entitled.

If Employee is age 40 or older, Employee acknowledges that Employee has a period of twenty-one (21) calendar days to consider this Agreement and may accept the Agreement earlier if desired. If executed, Employee has seven (7) calendar days from the date of signing to revoke the release by delivering written notice of revocation to Employer. Employee acknowledges receipt of a copy of this Agreement on the date of signing.

Employee acknowledges the following: Employee is age 40 or older Employee is under age 40 or declines to assert age-based rights

At-Will Employment and Equal Employment

Nothing in this Agreement modifies the at-will nature of the employment relationship where applicable. Employer is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation or any other protected characteristic.

Authorization to Contact; Background Checks

Employee authorizes Employer and its agents to contact prior employers, educational institutions and references for purposes related to the matters addressed by this Agreement and consents to reasonable background or records checks if necessary to verify Employee’s representations. Employee authorizes: Authorization granted

Employment History

Most Recent Employer

Dates Employed:

Prior Employer

Dates Employed:

Education

References

Employee Certification

I certify that all information provided by me in connection with this Agreement is true and complete to the best of my knowledge. I understand that any material misrepresentation may constitute a breach of this Agreement and may affect my eligibility for any consideration described herein.

Employee Authorization: I authorize Employer to contact previous employers and references listed above and to verify any facts or statements made by me in connection with this Agreement.

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