Template: Formal Separation Agreement
Detailing the terms for a formal separation between an employee and your company, this agreement includes the obligations of both parties. A formal separation agreement is to be used where the parties have legal representation and the promises made are significant, e.g. transfer of shares, payment of large amounts of money. It might also be appropriate where it is important to spell out the background behind the dispute in the introduction that might, for example, be important if the taxation treatment to be given to the payments is unusual, e.g. redundancy, pain and suffering.
This 4-page template is easy to adapt and will help you to make sure you have all the legalities covered for the separation. To complete this template, replace the red text with the relevant information and customise to your situation and workplace. Add your company logo and carry out due process.
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