A separation and general release contract is drafted when an employee, partner or an agent separates from an organization that they are associated with , after the approval of both the parties. The contract states the mutual agreement and understandings concerning the separation. The contract also acts as evidence that the individual separating has been officially released from all his duties towards the organization.
Sample Separation and General Release Contract
Separation and general release contract number: SG 32
Contract effective date: 22nd of May 2011
This separation and general release contract had been drafted and entered between Jay Sean referred to as the employee and Gas Garments Limited referred to as the employer where in the employee agrees to separate from his employment in the position of a sales manager in the employer organization.
Details of the employee:
Residential address: 45 High Drive Road,
Colorado, North Carolina 2743
Contact number: 78523
Mobile number: 97498
E mail id: email@example.com
Details of the employer:
Office address: 74 Fast Drive Road,
Colorado, North Carolina 2746
Contact number: 78533
Fax number: 78534
E mail id: firstname.lastname@example.org
The terms and conditions agreed by both the parties are as follows:
- The employee will receive his salary till the last working month that is June 2011.
- The employee has to ensure that he completes and serves the notice period or else he may have to pay his one month’s basic salary.
- The employee has to submit all the assets of the company including laptop and mobile phone to the employer on his last working day.
Signature of the employee: Signature of the employer:
Jay Sean Tom Hanks
(MD, Gas Garments Limited)