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1. Parties: Details of the employer and employee entering into the mutual separation agreement
2. Background: Brief context of the employment relationship and mutual decision to terminate
3. Definitions: Key terms used in the agreement
4. Effective Date of Separation: Clear statement of the last working day and formal termination date
5. Settlement Terms: Details of final settlement including salary, bonuses, and other benefits
6. Handover Process: Requirements for transitioning work, projects, and company property
7. Full and Final Settlement: Comprehensive list of payments and benefits to be provided
8. Release and Discharge: Mutual release from claims and obligations post-separation
9. Confidentiality: Ongoing obligations regarding company confidential information
10. Governing Law: Specification of Indian law as governing law and jurisdiction
1. Non-Compete: Restrictions on working with competitors, if applicable to employee level and role
2. Non-Solicitation: Restrictions on approaching company employees or clients, if relevant to role
3. Reference Letter: Terms regarding providing employment references
4. Stock Options/RSUs: Treatment of outstanding equity compensation, if applicable
5. Post-Separation Consultancy: Terms for any post-separation support or transition assistance
6. Medical Insurance Extension: Details of extended medical coverage if offered
7. Dispute Resolution: Specific procedures for resolving any disputes post-separation
1. Schedule A - Settlement Calculation: Detailed breakdown of all settlement amounts including salary, gratuity, leave encashment, etc.
2. Schedule B - Company Property Checklist: List of company assets to be returned
3. Schedule C - Handover Document: Detailed list of ongoing projects and handover requirements
4. Appendix 1 - Release Letter Format: Template of the final release letter to be signed post settlement
5. Appendix 2 - Reference Letter Format: Standard format for employment reference letter if agreed
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