An employee termination agreement is a written document depicting the fact that a particular employee will no longer be a part of the company concerned. This sort of agreement generally states that all the dues of the employee are cleared and he can join any other organization in the future.
Sample Employment termination agreement
Company: XYZ Services Private Limited.
Employee Name: Mr. John Murray
Designation: Associate Manager
The organization hereby lays down the following terms and conditions in connection with the termination of employment:
The employee discharges and releases all demands, claims, charges, complaints and disputes against the employer, its partners and its shareholders.
The employee will not share or disclose, in any form, any confidential information related to the company or its clients that might have come to his knowledge during the course of his employment.
The employee have surrendered all hard copies and electronic copies of all letters, records, memoranda and documents that have been under his possession as necessitated for his employment.
The employee will not indulge himself with any organization nor will not set up any business of his own that will be emerge as a direct competitor of this company.