Separation Agreement Sample Contracts

Separation and Release Agreement

A Separation and Release Agreement is a contract through which a company agrees to release an employee from performance under an employment agreement before the end of the agreement's termSeparation and Release Agreements define the severance provisions, if any, including compensation, benefits, and confidentiality requirements.

Separation Agreement (March 15th, 2019)

THIS SEPARATION AGREEMENT (this Agreement), dated as of March 15, 2019, is made by and among Ladder Capital Finance LLC, a Delaware limited liability company (the Company), Ladder Capital Corp, a Delaware corporation (LCC) and Thomas M. Harney (Harney).

Vringo – Separation Agreement (March 15th, 2019)

This SEPARATION AGREEMENT (the "Agreement"), dated as of March 14, 2019 (the "Execution Date") is made by and between XpresSpa Group, Inc. (formerly FORM Holdings Corp.) (the "Company") and Edward Jankowski ("Executive"). Capitalized terms not herein defined shall have the definitions ascribed them in the Executive Employment Agreement between the Company and Executive, dated January 20, 2017 (the "Employment Agreement").

Spiral Energy Tech., Inc. – Separation Agreement (March 11th, 2019)

THIS SEPARATION AGREEMENT (the "Agreement") is entered into as of the 11th day of March, 2019 (the "Effective Date") by and between Timothy Ryan ("Employee") and Exactus, Inc., a Nevada corporation, and subsidiaries (the "Company", and together with the Employee, the "Parties").

Superior Industries International, Inc. – Separation Agreement (March 7th, 2019)
Newmarkt Corp. – Separation Agreement (March 6th, 2019)

This Separation Agreement between Ozop Surgical Corp, a Nevada corporation with its principal office at 319 Clematis Street, Suite 714, West Palm Beach, FL 33401 (hereinafter referred to as "OZOP" or the Company" and Salman J. Chaudhry (hereinafter referred to as "Chaudhry"). References to OZOP and the Company include any and all subsidiaries and predecessor companies.

Separation Agreement & Release (February 26th, 2019)

Severance Pay. The Company will pay the Employee severance in the amount of $ 4,250,000.00, which will be paid in equal installments on the Company's regular pay dates for the twelve-month period beginning on the first pay period following the Separation Date (this period is the "Severance Period"). During the Severance Period, the Employee must be available to provide reasonable transition assistance and answer questions related to his Company employment, subject to the provisions of the final sentence of Section 5. Severance Pay will not be considered as compensation under the Company's benefit plans and, except to the extent specifically provided in this Agreement, no service credits will be awarded for the Severance Period.

Separation Agreement (February 22nd, 2019)
Separation Agreement (February 22nd, 2019)

THIS SEPARATION AGREEMENT (this "Agreement") is entered into effective as of November 8, 2018, by and between Assurant, Inc. (the "Company") and Ajay Waghray (the "Employee").

Separation Agreement and Release of Claims (February 6th, 2019)

This Separation Agreement is entered into between Flex Ltd. and any predecessor, successor, subsidiary or affiliated company (collectively, the "Company") and Michael M. McNamara ("Executive"). In consideration of the mutual promises set forth below, the Company and Executive have agreed as follows:

BioDelivery Sciences International, Inc. – Transitional Service and Separation Agreement (January 29th, 2019)
Separation Agreement (January 24th, 2019)

This Separation Agreement and General Release of All Claims (the "Agreement") is entered into and effective as of January 7, 2019, subject to the terms and conditions set forth herein, by and between Thomas M. Conophy ("Executive") and AutoNation, Inc. ("AutoNation" or "Company") relating to Executive's employment with and separation from the Company. When used herein, the term "Company" includes each and every officer, director, employee, agent, parent corporation(s), subsidiary corporation(s), wholly owned companies, affiliate(s) and division(s), their successors, assigns, beneficiaries, servants, legal representatives, insurers and heirs.

U.S. Auto Parts Network – Separation Agreement (January 23rd, 2019)

This Agreement made and entered into this January 23, 2019 at Mandaluyong City by and between: U.S. Auto Parts Network (Philippines) Corp. (the "Company"), a corporation organized and existing under Philippine laws with address at 9F, Robinsons Cybergate Plaza, EDSA Boni Avenue, Mandaluyong City, represented in this act by Lev Peker.

Cyanotech Corporation – Separation Agreement (January 9th, 2019)

This Separation Agreement (the "Agreement") is entered as of the Effective Date by and among Jole Deal ("Employee") and Cyanotech Corporation, a Nevada corporation (the "Company").

Separation Agreement (January 9th, 2019)

This Separation Agreement and General Release of All Claims (the "Agreement") is entered into and effective as of January 3, 2019, subject to the terms and conditions set forth herein, by and between Donna Parlapiano ("Executive") and AutoNation, Inc. ("AutoNation" or "Company") relating to Executive's employment with and separation from the Company. When used herein, the term "Company" includes each and every officer, director, employee, agent, parent corporation(s), subsidiary corporation(s), wholly owned companies, affiliate(s) and division(s), their successors, assigns, beneficiaries, servants, legal representatives, insurers and heirs.

AquaMed Technologies, Inc. – Asset Contribution and Separation Agreement (January 9th, 2019)

THIS ASSET CONTRIBUTION AND SEPARATION AGREEMENT (this "Agreement") is entered into as of [*], 2018, by and among: Alliqua BioMedical, Inc., a Delaware corporation ("Alliqua"), and AquaMed Technologies, Inc., a Delaware corporation ("AquaMed"). Certain capitalized terms used in this Agreement are defined in Exhibit A.

Separation Agreement (January 4th, 2019)

This Separation Agreement (the "Agreement") is made as of the December 31, 2018 (the "Effective Date") by and between Dhruv Prasad (the "Executive") and Townsquare Media, Inc., a Delaware Corporation (the "Company").

Ekso Bionics Holdings, Inc. – Separation Agreement and Full Release of All Claims (December 17th, 2018)

Whereas, Russell DeLonzor ("Employee") has been employed by Ekso Bionics, Inc., a wholly owned subsidiary of Ekso Bionics Holding, Inc., a Nevada corporation ("EBHI"), and served as an officer of EBHI.

Gentherm – Separation Agreement (December 12th, 2018)
Separation Agreement (December 6th, 2018)

This Separation Agreement (this Agreement) by and between James Lillie (Employee) and OvaScience, Inc., a Delaware corporation (the Company), is effective eight (8) days after Employee and the Company signing this Agreement (the Effective Date), unless Employee rescinds his acceptance of this Agreement as provided in Section 5 below, with reference to the following facts:

Separation Agreement With Waiver and Release of Claims (November 27th, 2018)

This Separation Agreement with Waiver and Release of Claims ("Agreement") is made by and between Jose Luis Laparte ("Executive") and PriceSmart, Inc. (the "Company") (collectively referred to as the "Parties" or individually referred to as a "Party").

SB/RH Holdings, LLC – Separation Agreement (November 23rd, 2018)

This Agreement is between Spectrum Brands, Inc., Spectrum Brands Holdings, Inc. (which together are referred to in this Agreement as the "Company") and Stacey L. Neu (who in this Agreement is referred to as "Executive" or "I" or "me" as the context dictates). Collectively, the Company and Executive are referred to as the "Parties".

Separation Agreement (November 14th, 2018)

This Separation Agreement ("Agreement"), is made and entered into as of the Effective Date (as defined in Section 11 hereof), by and between Christopher T. Weber ("Employee") and Halliburton Company ("Employer" or Halliburton"), for and on behalf of itself, its subsidiaries, and its affiliated companies, (collectively, the "Halliburton Entities").

Fusion Telecommunications International, Inc. – Separation Agreement (November 13th, 2018)

THIS AGREEMENT (this "Agreement"), is made and entered into as of November 8, 2018 (the "Effective Date"), by and between Fusion LLC (formerly known as Network Billing Systems, LLC (the "Company") and Gordon Hutchins, Jr. ("Executive").

Biodel Inc. – Separation Agreement (November 8th, 2018)

This Separation Agreement (this "Agreement") is made and entered into as of October 4, 2018 (the "Execution Date") by and between Albireo Pharma, Inc. ("Company") and Thomas A Shea ("Executive").

Subject: Separation Agreement (November 7th, 2018)

The purpose of this memorandum ("Memorandum") is to formally advise you of a decision by Charles River Laboratories (the "Company") to terminate your employment without cause and due to a position elimination pursuant to the terms of the 2010 Charles River Corporate Officer Separation Plan (the "Plan"), a copy of which is attached for your reference. This Memorandum is delivered pursuant to Section 11.0 of the Plan, and provides you with formal written notice that, subject to your execution of the letter agreement dated August 1, 2018 (the "Letter Agreement") delivered in conjunction with this notification, your employment with the Company will terminate effective today, August 2, 2018 (the "Separation Date"). Should you become deceased before all benefits hereunder are paid and/or provided to you, all such payments and/or benefits shall be made to your estate.

Separation Agreement (October 31st, 2018)

This Separation Agreement (this "Agreement") is made by and among Jaime A. Irick ("You" or "Your") and Brunswick Corporation ("Brunswick" or the "Company"), as of the date set forth below in connection with the payments and benefits to be provided to You by the Company (as set forth on Schedule A attached hereto), and in association with the termination of Your employment with the Company on October 29, 2018.

Separation Agreement (October 26th, 2018)

This Separation Agreement ("Separation Agreement"), is made by and between Cerner Corporation (together with its subsidiaries and affiliates, "Cerner") and Zane M. Burke ("you" or "your") (together, the "parties").

AgeX Therapeutics, Inc. – Separation Agreement (October 22nd, 2018)

This Separation and Release Agreement ("Separation Agreement") is entered into by and between Alfred Kingsley ("Executive") and AgeX Therapeutics, Inc. (the "Company") and confirms the agreement that has been reached with Executive in connection with Executive's separation from the Company.

Separation Agreement (October 19th, 2018)

This Confidential Separation Agreement (Agreement) is made by and between Banc of California, National Association and Banc of California, Inc. (collectively the Company) and Jason Pendergist (Employee). In consideration for the execution of this Agreement, and the performance of the terms and conditions herein, Company and Employee (collectively the Parties) agree as follows:

Hd Supply Holdings Inc. – Separation Agreement & Release of Claims (October 2nd, 2018)

This is a Separation Agreement and Release of Claims (Agreement or Release) between HD Supply, Inc., HD Supply Holdings, Inc., their subsidiaries, affiliates, predecessors, and related entities (hereinafter collectively referred to as the Company) and William P. Stengel (the Employee).

PRG-Schultz International Inc. – Separation Agreement (October 2nd, 2018)
September 21, 2018 Gil D. Schwartz C/O CBS Corporation 51 W. 52nd Street New York, NY 10019 Dear Gil: This Letter (Separation Agreement) Is to Confirm the Terms of Your Separation From CBS Corporation (CBS), Effective November 1, 2018 (The Separation Date). (September 27th, 2018)
Separation Agreement (September 13th, 2018)
Separation Agreement (September 12th, 2018)
Separation Agreement (August 31st, 2018)

This Separation Agreement (this "Agreement") is entered into by and among Thomas C. Kennedy ("Executive"), Hertz Global Holdings, Inc. ("Holdings") and The Hertz Corporation (together with their subsidiaries and divisions, "Hertz," the "Company" or the "Companies"), on August 29, 2018. Reference is made to the Hertz Global Holdings, Inc. Severance Plan for Senior Executives, as amended (the "Severance Plan"), and all capitalized terms used in this Agreement and not otherwise defined herein are as defined in the Severance Plan.