Severance and termination agreement forms are created by the human resource department of a company to notify the employee that his services are no longer required, and he has been officially terminated. It is also called a Golden Handshake and is used in case of layoffs or voluntary retirement.
You can Download the Severance and Termination Agreement Form Template, customize it according to your needs, and Print it. The severance and Termination Agreement Form Template is in MS Word or Editable PDF.
Download the Severance and Termination Agreement Form Template for only $6.54.
Buy Now: 6.54 USDIf you are having problems downloading a purchased form, don’t hesitate to contact us and include your receipt number and the exact name of the document you purchased, and I’ll email you a copy.
Absolutely! We offer complimentary editing services for any purchased forms to ensure they meet your specific needs. If you require a brand new form, our team can design one tailored to your specifications at an affordable price.
Features:
Clear Terms of Termination:
Provides detailed sections outlining the reasons and terms of the employee’s termination.
Severance Payment Details:
Includes fields for calculating and documenting severance packages, such as salary, bonuses, or benefits.
Confidentiality Clauses:
Offers standard clauses to ensure both parties agree to maintain the confidentiality of company information post-termination.
Non-Compete and Non-Solicitation Clauses:
Incorporates optional clauses to prevent the terminated employee from competing with the company or soliciting clients/employees.
Release of Claims:
Contains legal language that protects the employer from future claims related to the termination.
Final Benefits and Compensation:
Includes a section for detailing any final benefits, including health insurance, retirement contributions, or unused vacation time.
Signature Section:
Provides space for signatures of both the employer and the employee to formalize the agreement.
Benefits :
Legal Protection:
Reduces the risk of future legal disputes by clearly defining terms and releasing the employer from potential claims.
Structured Process:
Streamlines the termination process with a standardized document, ensuring consistency and also fairness.
Transparency:
Provides clear communication of severance terms and also final compensation, minimizing misunderstandings.
Smooth Transition:
Helps both employer and employee transition with mutual understanding of obligations and restrictions post-employment.
Reduced Conflict:
With clearly outlined terms, potential conflicts are mitigated, ensuring smoother negotiations and also exit processes.
