EMPLOYEE TERMINATION AGREEMENT THIS TERMINATION AGREEMENT is made at [City], [State], on [Date____________________], by and between [Employee] (“Employee”) and [Company/Employer] (“Company”). 1. Background. Company is engaged in the business of [Describe Business]. As of this date, Employee is the [Describe Employment]. Employee desires to leave his employment with the Company and Company is willing to accept Employee’s resignation, subject to terms and conditions of the Agreement set forth below. 2. Resignation. Employee hereby resigns as sales manager of the Company, and Company accepts Employee’s resignation, effective at close of business on [Date]. 3. Employee’s Representations, Warranties, Covenants and Agreements. represents, warrants, covenants and agrees that: Employee
A. Employee shall not, directly or indirectly, use or divulge to any third party any of the Company’s confidential information or materials disclosed or made available to Employee by reason of his Employment with the Company and not generally known to the public industry in which the Company is engaged (collectively “Confidential Information”). The Confidential Information includes, without limitation: trade secrets and other information related to the Company practices in accounting, marketing, advertising, promotion, merchandising, selling and distributing; price lists; vendor lists; customer know-how; and research. B. All of the Confidential Information is a valuable asset of the Company and is, will be and shall, at all times, remain the sole and exclusive property of the Company. C. Employee shall, at all times, hold the Confidential Information Secret.
D. Employee shall immediately deliver or cause to be delivered to Company all of the Confidential Information in Employee’s possession or control, as well as all other materials furnished to or acquired by Employee as a result of, or during the course of, Employee’s employment by the Company.
4. Salary Continuation. In consideration of all of Employee’s acknowledgements, representations