This template is an executive separation agreement that sets forth the terms and conditions governing an executive's termination of employment with an employer, drafted more favorably toward the employer. This template includes practical guidance, drafting notes, and alternate and optional clauses. This template provides guidance on the terms of a standard separation agreement; however, not all provisions will be applicable to your employer-employee relationship. State law requirements may vary with respect to certain provisions, thus, you should consult local counsel. In addition, Section 409A of the Internal Revenue Code and existing contractual obligations to, and commitments by, the employee will need to be considered and may significantly constrain the ability to restructure the post-employment rights and obligations of the parties. For an executive-friendly agreement, see Executive Separation Agreement (Pro-executive). For additional practical guidance, see Executive Separation ...