Separation and Release Agreement

1.	NO ADMISSION

2.	PAYMENT

3.	TAX

4.	RELEASE

5.	KNOWN OR UNKNOWN CLAIMS

6.	NON﷓DISCLOSURE

7.	EMPLOYER PROPERTY AND TRADE SECRETS

8.	NO FUTURE EMPLOYMENT

9.	NON SOLICITATION OF CLIENTS AND CUSTOMERS

10.	NON SOLICITATION OF EMPLOYEES

11.	NO DISPARAGEMENT

12.	REFERENCES

13.	NO ADMISSION OF WRONGDOING

14.	FURTHER DOCUMENTS

15.	DISPUTE

16.	MODIFICATION AND WAIVER

17.	CONSTRUCTION

18.	ATTORNEYS’ FEES

19.	INTEGRATION

20.	BINDING AGREEMENT

21.	COUNTERPARTS

22.	HEADINGS

23.	TIME FOR ACCEPTANCE AND REVOCATION

24.	STATEMENTS TO UNEMPLOYMENT BOARD AND TO OTHERS

25.	SEVERABILITY

Document Description:

A Separation and Release Agreement is an agreement used when a former employee agrees to release his/her former employer from any existing and future contractual obligations. In signing this document, the employee is waiving his/her right to sue and bring about civil claims against the employer in exchange for some sort of settlement or compensation.

There are several very important elements included in this agreement such as the No Admission clause (whereby the employer denies any wrongdoing or violation of law), and a Non-Disclosure claim (whereby the employee agrees not to discuss or divulge any terms or payments agreed upon in the agreement).