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This Employment Termination Agreement is used when an employer and employee in Canada are formally ending their employment relationship, whether through mutual agreement, without cause termination, or as part of a broader workforce reduction. The document is essential for protecting both parties' interests and ensuring compliance with Canadian employment standards, including federal and provincial legislation. It typically includes detailed provisions for severance payments, benefits continuation, confidentiality obligations, and release of claims. The agreement should be customized based on the applicable provincial jurisdiction, as employment standards vary across Canadian provinces. It's particularly important when terminating long-term employees, senior executives, or in situations involving significant severance packages. The document helps prevent future disputes by clearly documenting all termination terms and ensuring all statutory obligations are met.

1. Parties: Identification of the employer and employee, including full legal names and addresses

2. Background: Brief overview of employment history, current position, and decision to terminate

3. Definitions: Key terms used throughout the agreement

4. Termination Date: Clear statement of the effective date of employment termination

5. Final Payment: Details of final salary payment, including regular wages, accrued vacation pay, and statutory entitlements

6. Severance Package: Comprehensive details of the severance payment, including amount, timing, and method of payment

7. Statutory Deductions: Confirmation that all payments will be subject to required statutory deductions

8. Benefits Continuation: Details of any continued benefits coverage and duration

9. Return of Company Property: Requirements and timeline for returning company equipment, documents, and other property

10. Confidentiality Obligations: Ongoing obligations regarding confidential information

11. Release of Claims: Mutual release of claims between parties

12. Reference Letter: Terms regarding the provision of employment references

13. Non-Disparagement: Mutual agreement not to make negative statements about each other

14. Governing Law: Specification that the agreement is governed by Canadian law and the applicable province

15. Independent Legal Advice: Acknowledgment that the employee has had the opportunity to seek independent legal advice

16. Entire Agreement: Statement that this document represents the complete agreement between parties

17. Execution: Signing requirements and effective date of the agreement