General Release Extension Addendum to Separation Agreement

Summary

Use this template addendum to an executive separation agreement to extend the period covered by a general release of claims from the separation agreement's execution date through the end of employment if the separation agreement was executed earlier. This template includes practical guidance, drafting notes, and an alternate clause. When an executive enters into a separation agreement containing a waiver and general release of claims against the employer, the intention is generally for the waiver to cover all claims relating to or arising out of the employment relationship. In many cases, separation agreements are executed prior to the executive's anticipated termination date. Therefore, since it is unrealistic (and legally problematic) for the executive to agree to release claims for a future period, many employers will require the executive to execute a separate agreement, after the executive's last day of employment, that provides for the waiver and release to cover the period from ...