The Severance Agreement Template – Canada is offered in multiple formats, including PDF, Word, and Google Docs. These formats are fully editable and printable, ensuring they suit your requirements effortlessly.
Severance Agreement Template – Canada Editable – PrintableSample
1. Parties Involved 2. Purpose of the Agreement 3. Termination Details 4. Severance Payment 5. Benefits Continuation 6. Release of Claims 7. Confidentiality 8. Return of Company Property 9. Governing Law 10. Signatures and Acceptance
PDF
WORD
Examples
[Employee’s Name]
[Employee’s ID]
[Employee’s Address]
[Employee’s Phone]
[Employee’s Email]
[Employer’s Name]
[Employer’s ID]
[Employer’s Address]
[Employer’s Phone]
[Employer’s Email]
This Severance Agreement (“Agreement”) is made between [Employee’s Name] and [Employer’s Name], effective as of [Effective Date], to outline the terms of the severance package following the termination of employment.
The employee’s employment will terminate on [Termination Date]. The reasons for termination are as follows: [Details of Termination].
The Employer agrees to provide the Employee with a severance payment of [Amount], which will be paid in a lump sum on or before [Payment Date]. This payment is in consideration for the Employee’s release of claims as outlined in this Agreement.
The Employee shall continue to receive health and dental benefits under the Employer’s group plans until [Date], subject to the terms of the plans.
The Employee agrees to maintain the confidentiality of all proprietary information and trade secrets of the Employer, both during and after the term of this Agreement.
In consideration of the severance payment, the Employee releases and discharges the Employer from any and all claims, actions, or liabilities related to their employment and its termination.
This Agreement will be governed by the laws of the Province of [Province], Canada.
[Employee’s Signature]
[Employee’s Name]
[Employer’s Signature]
[Employer’s Name]
[Employee’s Name]
[Employee’s ID]
[Employee’s Address]
[Employee’s Phone]
[Employee’s Email]
[Employer’s Name]
[Employer’s ID]
[Employer’s Address]
[Employer’s Phone]
[Employer’s Email]
This Severance Agreement outlines the terms of severance pay and related obligations, effective as of [Effective Date] due to the cessation of the Employee’s employment.
The termination of employment is effective on [Termination Date] and is voluntary/involuntary based on [Details].
The Employee shall be entitled to a severance package comprising [Details of Benefits, i.e., Salary, Vacation Pay, etc.], totaling [Amount].
The Employer agrees to provide a positive reference to potential future employers, should the Employee request such reference.
The Employee agrees to return all company property, including but not limited to [List of Company Property], prior to receiving severance payment.
Both parties agree not to disparage each other in any way that could harm the reputation of the other.
This Agreement shall be governed by the laws of the Province of [Province], Canada.
[Employee’s Signature]
[Employee’s Name]
[Employer’s Signature]
[Employer’s Name]
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