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Laid Off Separation Agreement
"I need a Laid Off Separation Agreement for laying off 15 software engineers in our New York office, with standard severance of 3 months' pay and continuation of health benefits until March 2025."
1. Parties: Identification of employer and employee with full legal names and addresses
2. Background: Context of employment relationship and circumstances leading to separation
3. Definitions: Key terms used throughout the agreement including Company, Effective Date, Separation Date
4. Separation Date: Specification of final day of employment and employment status termination
5. Severance Payment: Details of severance compensation including amount, payment schedule, and tax treatment
6. Benefits: Information about continuation or termination of health insurance, COBRA rights, and other benefits
7. Release of Claims: Comprehensive waiver of legal claims against employer with specific reference to relevant laws
8. Return of Company Property: Requirements and timeline for returning all company assets and materials
9. Consideration Period: Mandatory review period (21 or 45 days) and 7-day revocation period as required by ADEA
1. Non-Compete Clause: Restrictions on future employment and competitive activities, used when protecting company interests
2. Confidentiality Agreement: Ongoing obligations regarding confidential information and trade secrets
3. Non-Disparagement: Mutual agreement not to make negative statements about each other
4. Outplacement Services: Details of career transition support provided by the company
5. Reference Provision: Terms regarding future employment references and company response to reference requests
1. Schedule A - Severance Calculation: Detailed breakdown of severance payment calculation including base salary, bonuses, and deductions
2. Schedule B - Benefits Summary: Comprehensive overview of continuing benefits, COBRA rights, and insurance information
3. Schedule C - Company Property Checklist: Itemized list of company property to be returned including devices, documents, and access cards
4. Appendix 1 - Age/Title Disclosure: Required disclosure for group terminations under OWBPA including job titles and ages of affected employees
Authors
Company
Effective Date
Employee
Separation Date
Severance Payment
Severance Period
Confidential Information
Company Property
Released Claims
Released Parties
Consideration Period
Revocation Period
COBRA Benefits
Accrued Benefits
Cause
Competitive Business
Trade Secrets
Intellectual Property
Final Compensation
Outstanding Obligations
Restrictive Covenants
Governing Law
Proprietary Rights
Surviving Provisions
Release of Claims
Confidentiality
Non-Disparagement
Return of Property
Non-Competition
Non-Solicitation
Benefits Continuation
Final Compensation
Tax Considerations
Cooperation
Reference Provision
Governing Law
Dispute Resolution
Entire Agreement
Consideration Period
Right of Revocation
Amendment and Waiver
Severability
Acknowledgment
General Release
COBRA Rights
Outplacement Services
Intellectual Property
Survival of Obligations
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