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Enter the full legal name of this party exactly as it appears on their ID or business registration.
Enter the full legal name of this party exactly as it appears on their ID or business registration.
A Severance Agreement is a binding contract in which an employer provides a departing employee with financial compensation — severance pay, COBRA continuation, or other benefits — in exchange for a release of all legal claims against the company. Under the ADEA, employees aged 40 and older must receive 21 days to consider the agreement and 7 days to revoke it. This template includes the required disclosures. Fill out this free severance agreement template online, e-sign it digitally, and download a legally valid PDF. no account or lawyer needed. Sections: Parties, Terms.
This Severance Agreement is made between ______________ ("Employer") and ______________ ("Employee") in connection with Employee's separation from employment effective ______________.
In consideration of the release below, Employer shall pay Employee $0.00, representing 0 weeks of pay, less applicable withholdings, within thirty (30) days of Employee's execution of this Agreement.
Employee hereby releases Employer and its affiliates, officers, directors, and employees from any and all claims, known or unknown, arising out of Employee's employment or separation, including claims under Title VII, the ADEA, the ADA, and applicable state laws.
Employee shall keep the terms of this Agreement confidential, except as required by law or as necessary to consult with legal, tax, or financial advisors.
Employee shall not make any disparaging statements about Employer or its personnel.
Employee has twenty-one (21) days to consider this Agreement and seven (7) days after signing to revoke it. This Agreement becomes effective on the eighth day after execution.
This Agreement shall be governed by and construed in accordance with the laws of the State of ______________, without regard to its conflict-of-laws principles.