Voluntary Severance Agreement Template for Canada

1. Non-Disparagement: Mutual or one-way obligations regarding making negative statements, used when there's concern about potential reputational damage

2. Non-Competition: Restrictions on future employment with competitors, used for senior employees or those with access to sensitive information

3. Non-Solicitation: Restrictions on soliciting employees or customers, used when employee had significant client or team relationships

4. Outplacement Services: Details of career transition support, included when part of severance package

5. Equity Compensation: Treatment of stock options or other equity-based compensation, needed when employee has such benefits

6. Legal Counsel: Acknowledgment of right to seek independent legal advice, recommended for significant severance packages

7. Cooperation: Terms for post-employment assistance with transitions or legal matters, used when ongoing cooperation might be needed

8. Immigration Status: Impact on work permits or immigration status, needed for foreign workers

1. Schedule A - Severance Calculation: Detailed breakdown of severance payment calculation including salary, benefits, and other compensation

2. Schedule B - Outstanding Expenses: List of approved expenses to be reimbursed

3. Schedule C - Company Property: Itemized list of company property to be returned

4. Schedule D - Continuing Benefits: Detailed description of benefits continuation terms and duration

5. Schedule E - Release of Claims: Comprehensive release language as required by provincial law

6. Appendix 1 - Employee's Current Benefits: Summary of current benefits and their treatment post-termination

7. Appendix 2 - Reference Letter: Standard form of reference letter if agreed upon