SEVERANCE AGREEMENT 1
SEVERANCE AGREEMENT
This Severance Agreement made on this [day] day of [month] of [year] Between Company and Employee (hereinafter the “Agreement”)
BETWEEN:
[Company name/address] (hereinafter the "Company"),
AND:
[Employee name/address] (hereinafter the "Employee"),
ARTICLE 1
SEVERANCE PAY
In consideration of Employee signing this Severance Agreement and the relevant letters of resignation and associated documents, Company will pay [amount], minus standard payroll deductions such as state and federal taxes, to Employee. Funds will be delivered to Employee no later than [date and time]. Funds will be delivered according to standard salary payment practices of Company such as [direct deposit into Employee’s account/payment by check to E