This Severance Agreement (the "Agreement") is entered into between the above-named Employee ("Employee") and Company ("Employer"). This Agreement is made as part of a merger or acquisition transaction affecting Employer and supersedes all prior verbal or written agreements relating to termination or severance.
The employment of Employee with Employer shall terminate effective as of .
Employer agrees to pay Employee a severance in the amount of . Payment will be made within following the Termination Date.
Employee shall be entitled to continue participating in Employer's group health, dental, and vision insurance plans for months after the Termination Date, or as required by law.
In consideration of the severance payment and benefits set forth above, Employee voluntarily releases and discharges Employer and its affiliates from any and all claims relating to Employee's employment or termination thereof, including those arising as a result of the merger or acquisition.
Employee agrees to maintain the confidentiality of this Agreement and not to make any disparaging remarks about Employer and its affiliates.
Employee agrees to return all Company property, including documents, equipment, and proprietary information, on or before the Termination Date.
This Agreement shall be governed by the laws of .