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1. Parties: Identification of employer and employee, including legal names and addresses
2. Background: Context of employment termination and basis for severance arrangement
3. Definitions: Key terms including competitive business, restricted territory, confidential information, and cause
4. Severance Payment: Details of severance compensation, including amount, timing, and conditions of payment
5. Non-Compete Obligations: Core restrictions including scope of prohibited activities, duration, and geographic limitations
6. Consideration: Statement of consideration provided for the agreement, including severance benefits
7. General Release: Employee's release of claims against the employer
8. Governing Law: Specification of applicable state law and jurisdiction
1. Non-Solicitation: Additional restrictions on soliciting employees or customers, included when relevant to employee's role
2. Return of Property: Requirements for returning company property, included when employee had access to sensitive materials
3. Cooperation: Post-employment cooperation obligations, typically included for senior roles
4. Confidentiality: Additional confidentiality obligations, included when handling sensitive information
5. ADEA Provisions: Special provisions required for employees over 40, included when applicable
1. Schedule A - Severance Payment Details: Detailed breakdown of severance compensation and payment schedule
2. Schedule B - Restricted Territory: Geographic scope of non-compete restrictions with specific boundaries
3. Schedule C - Competitive Business Definition: Detailed description of prohibited competitive activities and companies
4. Schedule D - Company Property List: Itemized list of company property to be returned, if applicable
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