Severance and Termination Agreement Form

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. The severance and termination agreement governs the terms by which an employee will leave employment at a particular work place. By signing this, the employee waives his or her right to sue his employer, in return for a severance pay or some other form of compensation paid by the employer. Thus these forms help to prove the basis for a cordial and litigation-free termination.

Sample Severance and Termination Agreement Form

Employer details

Name of company:                                      Address:

Phone number:                                            Email ID:

Employee details

Name of employee:                                      Address:

Phone number:                                             Email ID:

Employee code:                                            Date of joining:

Date of termination:

Through this general release, the employee hereby releases and forever discharges the employer its management and work team, and other employees of all charges, claims, and causes of action of every kind which the employee has, or has ever had, or may in the future related to his employment at the above mentioned company.

The employee agrees not to start or join any lawsuit or any action against the company regarding to his employment with the company.

The employer honours the employee’s request to resign on the date mentioned above.

Signature of employer:

Date:

I have received all dues, including a severance pay of ___________ as part of the termination.

Signature of employee:

Date:

Category: HR Forms