A confidential separation contract is a document which is drafted when an employee and an employer enters into a mutual understanding that employee will confidentially separate from the employer organization. The contract states the compensation and benefits that the employee is supposed to receive after his separation and the other terms and conditions agreed between them.
Sample Confidential Separation Contract
Confidential separation contract number: CS 23
Effective date of contract: 23rd June 2011
This confidential separation contract has been made and entered between Deepak Chopra referred to as the employee and Steel Limited referred to as the employer as per Separation Laws of the state of Colorado.
As per the contract, the terms and conditions of the separation will be kept confidential by both the parties.
The terms and conditions set in the contract are as follows:
- The separation of the employee will be kept confidential till all the settlement has been made between both the parties.
- The contract is valid till the date the employer clears all the benefits and compensation that the employee is bound to receive. The employee should receive all the outstanding payments within forty five days after the termination date, in failure to which the employee can take legal action.
- The employer agrees to pay the outstanding bonus and incentives to the employee.
- The employee will have to submit his laptop, mobile phone and other assets assigned to him by the company.
Signature of the employee: Signature of the employer:
Deepak Chopra Will May
(On behalf of Steel Limited)