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A severance agreement is a contract between an employer and an employee that outlines the terms of the employee's departure from the company. The agreement typically includes a severance package, which may include severance pay, continuation of benefits, and outplacement assistance. The agreement may also include a non-compete clause, which prohibits the employee from competing with the company for a period of time.
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Use this agreement when bringing an advisor on board to formalize variables such as job role and responsibilities, duration of contract and compensation. The agreement also sets forth certain key terms such as confidentiality and intellectual property.
This template is to be used the next time your company needs to set out terms with an individual (i.e. not to be used for agreements involving a personal service company as defined within IR35). It sets out the terms on which a contractor provides services to a client company, and is perfect for freelance software developers, marketing consultants, designers, PR/HR/recruitment consultants.
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