Mutual Separation Agreement
Mutual Separation Agreement
This Mutual Separation Agreement (the “Agreement”) is entered into as of this 20th day of January 2050 (the “Effective Date”), by and between [Your Company Name], a corporation (the “Company”), and Jewell Ward (the “Employee”).
1. SEPARATION
It is agreed upon by both parties that the employment relationship between the Employee and the Company will terminate amicably on the 1st day of February 2050. This decision is mutual and in the best interest of both parties due to reasons such as downsizing, restructuring, retirement, or prevailing workplace conflicts which are finalized through this Agreement.
2. SEVERANCE PAYMENT
In consideration for agreeing to this Mutual Separation Agreement, the Company agrees to provide the Employee a severance payment of $1500, payable within 15 days of the Effective Date of this Agreement. This payment is inclusive of any salary, bonuses, compensations, or benefits to which the Employee may be entitled under any company policy plan or agreement.
3. RELEASE OF CLAIMS
The Employee agrees to release and forever discharge the Company and its affiliates from all claims, liabilities, demands, causes of action, costs, expenses, attorneys' fees, damages, indemnities, and obligations of every kind and nature, in law, equity, or otherwise, related to or arising out of any relationship or contracts held with the Company during their employment.
4. CONFIDENTIALITY
The Employee shall maintain in confidence and shall not directly or indirectly, use, disseminate, disclose, publish, or use for his benefit or the benefit of any person or entity, any confidential and proprietary information or trade secrets of the Company of any kind or nature.
5. TERMINATION CONDITIONS
5.1 The termination of employment under this Agreement shall be deemed a resignation by the Employee.
5.2 The Employee agrees to return all company property, including but not limited to keys, access cards, laptops, and any confidential documents, to the Employer on or before the Termination Date.
6. DISPUTE RESOLUTION
In the event of any dispute arising out of or relating to this Agreement, the Parties agree to first attempt to resolve the dispute through good faith negotiations. If the dispute cannot be resolved through negotiation, the Parties agree to seek mediation before pursuing any legal action.
7. GOVERNING LAW
This Agreement shall be governed by and construed under the laws of [Jurisdiction], without regard to its conflict of laws provisions.
8. SIGNATURES
The Parties hereby acknowledge that they have read and understood all the terms and conditions of this Agreement and voluntarily accept them.
[Your Company Name]
Jewell Ward
Employee
