Resignation Agreement Sample: What You Need to Know

If you`re considering resigning from your job, it`s important to make sure that you do it correctly. One way to ensure that the process goes smoothly is to have a resignation agreement in place. In this article, we`ll take a closer look at what a resignation agreement is, what it typically includes, and provide a sample resignation agreement to help get you started.

What is a Resignation Agreement?

A resignation agreement, also known as a separation agreement or termination agreement, is a legally binding agreement between an employer and an employee that outlines the terms of the employee`s departure from the company. The goal of a resignation agreement is to protect both parties from legal disputes that could arise after the employee leaves the company.

What Does a Resignation Agreement Typically Include?

A resignation agreement can vary depending on the circumstances surrounding the employee`s departure. However, there are a few key components that most resignation agreements include:

1. Reason for Resignation: This section outlines the reason why the employee is resigning. It`s important to be clear and concise in this section to avoid any confusion.

2. Severance Pay: Depending on the circumstances of the resignation, the employee may be entitled to receive severance pay. This section outlines the amount of severance pay the employee will receive and any conditions that must be met in order to receive it.

3. Return of Company Property: This section outlines what company property the employee must return upon resignation, such as company-issued laptops, phones, and keys.

4. Non-Disclosure Agreement: This section outlines the employee`s obligation to keep certain information confidential after leaving the company. This may include trade secrets, intellectual property, or other sensitive information.

5. Release of Claims: This section outlines the employee`s agreement to release the company from any legal claims that could arise after the employee leaves the company. This is often a key component of the resignation agreement and can help avoid costly legal battles.

Sample Resignation Agreement

To give you a better idea of what a resignation agreement looks like, here`s a sample agreement:

[Date]

[Employee Name]

[Employee Address]

[City, State ZIP]

[Employer Name]

[Employer Address]

[City, State ZIP]

Dear [Employee Name],

This letter is to confirm our agreement regarding your resignation from [Employer Name], effective [Resignation Date]. The terms of your resignation are as follows:

• Reason for Resignation: [Insert reason for resignation]

• Severance Pay: [Insert amount of severance pay and any conditions that must be met in order to receive it]

• Return of Company Property: [List any company property that must be returned upon resignation, such as laptops, phones, keys, etc.]

• Non-Disclosure Agreement: [Insert the language of the non-disclosure agreement, outlining what information must be kept confidential]

• Release of Claims: [Insert the language of the release of claims, outlining the employee`s agreement to release the company from any legal claims that could arise after the employee leaves the company]

Please sign and return a copy of this agreement to me by [Date]. If you have any questions or concerns about the terms outlined in this agreement, please don`t hesitate to contact me.

Sincerely,

[Employer Name]

[Employer Signature]

[Employee Signature]

[Date]

Conclusion

A resignation agreement is an important document to have in place when resigning from your job. It can help protect both parties from legal disputes that could arise after the employee leaves the company. By understanding what a resignation agreement typically includes and using a sample agreement as a template, you can ensure that your resignation goes smoothly and without any unnecessary legal complications.