The Employee Termination Agreement And Release is a crucial document used in Canadian employment law when ending employment relationships, whether through termination without cause, mutual agreement, or as part of a larger restructuring. It serves multiple purposes: documenting the final terms of employment separation, outlining compensation and benefits, and obtaining a release of potential legal claims. This agreement must comply with minimum standards set by provincial employment legislation, federal laws where applicable, and common law principles of reasonable notice. It typically includes provisions for severance payments, benefit continuation, confidentiality obligations, and release of claims. The document is essential for risk management and providing clarity to both parties about their rights and obligations during and after the termination process.

1. Parties: Identification of the employer and employee with full legal names and addresses

2. Background: Brief employment history, current position, and reason for agreement

3. Definitions: Key terms used throughout the agreement including 'Termination Date', 'Released Claims', etc.

4. Termination of Employment: Confirmation of termination date and immediate obligations

5. Severance Package: Details of all financial compensation, including salary continuance or lump sum payment

6. Statutory Deductions: Confirmation that all payments subject to required tax and statutory deductions

7. Benefits Continuation: Details of benefit continuation or cessation and conversion rights

8. Release of Claims: Comprehensive release of all possible claims against employer and related entities

9. Confidentiality: Ongoing obligations regarding confidential information and terms of agreement

10. Return of Property: Requirements for returning company property and documents

11. Non-Disparagement: Mutual obligations to refrain from negative comments

12. Acknowledgments: Employee's confirmation of understanding, right to counsel, and voluntary acceptance

13. General Provisions: Standard clauses including governing law, entire agreement, and amendments

14. Execution: Signature blocks and date of agreement