Separation Agreement



Separation Agreement :



This Letter should be written in The Letter-Pad of the Company.


This agreement will confirm the points of our May 16 conversation regarding the termination of your employment at Yellen Digital Technologies.


We explained Yellen Digital Technologies wishes to make your transition to other employment as smooth as possible. Instead of termination, we agreed you would resign and be free to tell prospective employers you left Yellen Digital Technologies voluntarily.


In addition to the severance pay and benefits you are entitled to under our standard policy, we will provide an office for use in your employment search from June 1 to 14 and a four month extension of your health plan.


You acknowledge this agreement represents the complete and final settlement of any and all claims resulting from your employment with Yellen Digital Technologies. These claims are including but not limited to claims under contract, tort or state or federalstatutes that you may have now or in the future. With the exception of the benefits named in this agreement, you agree this company owes you no further liability or obligations after employment is terminated June 13.


We also agree that you must return the following company property in order to receive the stipulated pay and benefits:


1. Cellular phone

2. Company car

3. Laptop computer

4. Marketing materials


You are welcome to examine this agreement with your attorney before signing it. Your signature indicates your assent to this agreement. The terms will be kept in confidence.


We are pleased we have been able to come to this agreement and part with good feelings. We wish you the best in finding employment that takes advantage of your talents and skills.


Employer Signature :


Date :


Employee Signature :


Date : ________________


NOTE :


DISCLAIMER :


Each state has its own laws governing personnel regulations. Additionally, both state and federal laws are frequently revised. Please consult with an attorney experienced in personnel regulations prior to instituting any of the personnel agreements contained in this section.




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