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Voluntary Severance Agreement
"I need a Voluntary Severance Agreement for a senior software engineer who is being offered 6 months' salary as severance, with an effective date of March 1, 2025, and I need to include non-compete provisions due to our proprietary technology."
1. Parties: Identification of employer and employee, including full legal names and addresses
2. Background: Context of the separation and purpose of the agreement
3. Definitions: Key terms used throughout the agreement
4. Separation Date: Clear statement of employment termination date
5. Severance Payment: Amount, timing, and method of severance payment
6. General Release: Employee's release of claims against employer
7. Confidentiality: Terms regarding confidential information and trade secrets
8. Return of Company Property: Requirements for returning company assets
9. Governing Law: Jurisdiction and applicable law
1. Non-Compete: Restrictions on future employment in competitive markets
2. Non-Solicitation: Restrictions on soliciting employees or customers to protect client relationships and workforce
3. Outplacement Services: Career transition assistance provisions
4. Reference Provision: Terms regarding future employment references and agreed communication approach
5. COBRA Continuation: Healthcare coverage continuation details and terms
1. Schedule A - Severance Calculation: Detailed breakdown of severance payment calculation
2. Schedule B - Company Property List: Itemized list of company property to be returned
3. Schedule C - Benefits Summary: Summary of continued benefits and their duration
4. Appendix 1 - ADEA Disclosure: Required age discrimination disclosure for employees over 40
5. Appendix 2 - State-Specific Notices: Required state-specific legal notices and disclosures
Authors
Company
Employee
Effective Date
Separation Date
Severance Payment
Severance Period
Confidential Information
Release
Released Parties
Claims
Trade Secrets
Intellectual Property
Company Property
Consideration
COBRA Benefits
Accrued Benefits
Competing Business
Restricted Period
Territory
Cause
Proprietary Information
Work Product
Board of Directors
Affiliate
Successor
Assignment
Non-Disparagement
Governing Law
Review Period
Release of Claims
Confidentiality
Non-Disparagement
Return of Property
Benefits Continuation
Tax Implications
Non-Compete
Non-Solicitation
Intellectual Property
Cooperation
Reference Provision
Outplacement Services
COBRA Rights
General Release
Acknowledgment and Review Period
Revocation Rights
Governing Law
Integration
Severability
Amendment
Assignment
Notice
Consideration
Waiver
Voluntary Agreement
Medicare Coverage
Dispute Resolution
Survival
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