Severance agreement template

This Severance Agreement and General Release (the "Agreement") is between Company name (the "Company") and Employee name (the "Employee"). The Company gave this Agreement to the Employee on Date given.

1. Separation

The Employee's employment ends on Separation date (the "Separation Date"). Whether or not the Employee signs this Agreement, the Company will pay all wages earned through the Separation Date, any accrued vacation or paid time off the law or Company policy makes payable, and expenses properly submitted by Expense deadline. These payments are not part of the severance in section 2.

2. Severance pay

If the Employee signs this Agreement and does not revoke it, the Company will pay the Employee severance of Severance amount in total, less required tax withholding, paid as follows: Payment schedule. Payments begin on the first regular payday after the Effective Date in section 9. The Employee agrees that this severance is more than they would otherwise be entitled to receive.

3. Benefits

The Employee's group health coverage ends on Health coverage end date. The Employee will receive a separate notice explaining the right to continue coverage under COBRA or state law. If the Employee elects continuation coverage on time, the Company will pay the premiums for Months of premiums paid months, or until the Employee becomes eligible for another group health plan, whichever comes first. Retirement and other benefits are governed by the terms of each plan.

4. General release of claims

In exchange for the severance, the Employee, for themselves and their heirs, releases the Company and its owners, officers, directors, employees, agents, successors and benefit plans from all claims, known or unknown, that arise from anything that happened up to the date the Employee signs this Agreement. This includes claims about the Employee's hiring, pay, employment and its end, and claims under Title VII of the Civil Rights Act, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act (other than claims for vested benefits), 42 U.S.C. § 1981, and any state or local law against discrimination, harassment or retaliation, as well as contract and personal injury claims, to the fullest extent the law allows.

5. Claims not released

The Employee does not release claims for unemployment or workers' compensation benefits; vested retirement or other plan benefits; rights under this Agreement; claims arising after the Employee signs; or any claim that cannot be released by private agreement under the law. The Employee also does not give up the right to challenge whether this release of age claims is valid.

6. Protected rights

Nothing in this Agreement prevents the Employee from filing a charge with, or taking part in an investigation by, the Equal Employment Opportunity Commission, the National Labor Relations Board, the Securities and Exchange Commission or any other government agency; from testifying truthfully under subpoena; from discussing terms and conditions of employment; or from speaking about unlawful conduct in the workplace. The Employee does give up any right to receive money from the Company in a charge or lawsuit about released claims, except an award paid by a government agency for information provided to it.

7. Company property

By Property return date, the Employee will return the following, along with all other Company documents, files and devices, and delete Company information from personal devices: Property to return. The Company will provide prepaid shipping if needed.

8. Confidentiality and statements

Subject to section 6, the Employee will keep the amount of the severance private, except from their family, attorney, tax and financial advisers, and government agencies. The Employee will not make statements about the Company that they know to be false, and the Company will instruct Managers bound by non-disparagement not to make statements about the Employee that they know to be false.

9. Time to consider, revocation and Effective Date

The Employee has Days to consider days from the date in the opening paragraph to consider this Agreement, and the Company advises the Employee in writing to consult an attorney of their choice before signing. The Employee may sign sooner if they choose to, but no one may require it. After signing, the Employee has 7 days to revoke this Agreement by written notice to Revocation email. If the Employee does not revoke, this Agreement becomes effective on the eighth day after the Employee signs it (the "Effective Date"). If the Employee revokes, no severance is paid.

10. References and unemployment

Reference requests should go to Reference contact, who will confirm only the Employee's dates of employment and last job title. The Company will not contest a claim for unemployment benefits, but will answer questions from the unemployment agency truthfully.

11. General terms

This Agreement is not an admission of wrongdoing by anyone. It is the entire agreement about the end of the Employee's employment, except that earlier confidentiality, invention or similar agreements stay in force on their own terms. If a court finds part of it unenforceable, the rest stays in effect. It is governed by the laws of the state of State, can be changed only in a writing signed by both parties, and may be signed electronically.

I have read and understand this Agreement, I was advised to consult an attorney and given time to do so, and I am signing it knowingly and voluntarily.