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1. Parties: Identifies the employer and employee entering into the agreement
2. Background: Outlines the context of the employment relationship and the mutual decision to separate
3. Definitions: Defines key terms used throughout the agreement
4. Termination Date: Specifies the official end date of employment
5. Final Payments: Details regular salary, accrued vacation pay, and other standard entitlements up to the termination date
6. Severance Package: Outlines the severance payment amount, timing, and method of payment
7. Benefits Continuation: Describes the continuation or termination of health benefits, insurance, and other benefits
8. Company Property: Requirements for returning company property and documents
9. Confidentiality: Ongoing obligations regarding confidential information
10. Release of Claims: Mutual release of claims between parties
11. Non-Disparagement: Agreement not to make negative statements about each other
12. References: Terms regarding employment references and confirmation of employment
13. Governing Law: Specifies the applicable law and jurisdiction
14. General Provisions: Standard clauses including entire agreement, amendments, and severability
1. Stock Options/Equity: Treatment of outstanding stock options or equity compensation, used when employee has equity-based compensation
2. Non-Competition: Restrictions on working for competitors, used when protecting business interests is crucial and reasonable given position
3. Non-Solicitation: Restrictions on soliciting employees or customers, used when protecting business relationships is important
4. Outplacement Services: Provision of career transition services, used when included in separation package
5. Cooperation in Litigation: Agreement to assist with ongoing or future legal matters, used when employee had significant role or knowledge
6. Disability Accommodation: Special provisions related to disability, used when separation involves medical conditions
7. Immigration Status: Implications for work permits or immigration status, used for foreign workers
8. Reaffirmation of Prior Agreements: Continuation of specific previous contractual obligations, used when prior agreements should survive
9. Training Cost Repayment Waiver: Waiver of training cost clawback provisions, used when existing contract includes such provisions
1. Schedule A - Severance Calculation: Detailed breakdown of severance payment calculation
2. Schedule B - Benefits Summary: Detailed list of benefits and their continuation periods
3. Schedule C - Company Property Checklist: List of company property to be returned
4. Schedule D - Release of Claims: Detailed release language and specific claims being released
5. Schedule E - Outstanding Equity Details: Summary of stock options or other equity compensation treatment
6. Appendix 1 - Reference Letter: Agreed form of reference letter
7. Appendix 2 - Announcement Template: Approved internal/external communication regarding departure
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