Online Compromise Agreement Template Template

This Compromise Agreement (this “Agreement” or this “Compromise Agreement”), effective as of  DATE (the “Effective Date”), is made and entered into by and between  EMPLOYER NAME, registration number  NUMBER, a company organized and existing in England, with offices located at [ADDRESS] (hereinafter “Employer”), and  EMPLOYEE NAME (hereinafter “Employee”).

• a. Employee has been employed by Employer as of  DATE under the terms and conditions of Employee’s employment contract with Employer (the “Employment Agreement”), and
• b. Employee will no longer be employed by Employer as of  DATE (the “Separation Date”), and
• c. The parties hereto (collectively referred to herein as the “Parties) wish to set forth their agreement with respect to the termination of Employee’s employment with Employer, and
• d. The Parties intend for this Agreement to be a statutory “compromise agreement” between the Parties,

NOW, THEREFORE, in consideration of the foregoing, and of the mutual covenants, agreements, and promises set forth herein, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

Employee hereby accepts and confirms that Employee’s employment with Employer will terminate on the Separation Date for the following reason(s):

Prior to and including the Separation Date, Employee will be paid Employee’s regular compensation less any customary taxes, and will receive all benefits currently given, all in accordance with the Employment Contract and any Employer policies in effect. Employee has read and understands all Employer policies.

As of the Separation Date, Employee shall be entitled to an extra, voluntary payment in the amount of  DOLLAR AMOUNT in accordance with the Employment Agreement between the Parties.