Free, Customizable, and Legally Sound
Our Standard Severance Agreement Template is a comprehensive, ready-to-use document designed to help employers and HR professionals formalize the terms of an employee's departure. Whether you're managing a voluntary resignation, a layoff, or an involuntary termination, this template provides a clear and legally sound framework to ensure a smooth transition.
What’s Included in the Template
- Severance Payment Details: Clearly outlines the severance pay amount, payment schedule, and any conditions attached.
- Benefits Continuation: Specifies the continuation of health insurance, retirement contributions, and other benefits post-termination.
- Release of Claims: Includes a clause where the employee waives the right to pursue legal action against the employer, providing mutual protection.
- Confidentiality Agreement: Ensures that sensitive company information remains protected even after employment ends.
- Non-Disparagement Clause: Prevents both parties from making negative statements about each other, preserving reputations.
- Return of Company Property: Details the employee's obligation to return all company-owned items, such as laptops, keys, and documents.
- Governing Law and Jurisdiction: Specifies the legal jurisdiction that governs the agreement, providing clarity in case of disputes.
Why Use This Template
This Severance Agreement Template is crafted to help you:
- Ensure Legal Compliance: Aligns with standard employment laws to protect your organization from potential legal challenges.
- Maintain Professionalism: Provides a structured and respectful way to handle employee separations.
- Save Time and Resources: Offers a ready-made solution that can be customized to fit specific situations, reducing the need for drafting from scratch.
How to Use
- Download the Template: Click the download button to get the template in Word or PDF format.
- Customize the Document: Fill in the placeholders with the relevant details specific to the employee and the terms of their departure.
- Review and Finalize: Ensure all information is accurate and complete. It's advisable to have the document reviewed by legal counsel before finalizing.
- Execute the Agreement: Both parties should sign and date the agreement. Keep a copy for your records and provide one to the employee.
