Satisfaction Agreement Between

• Category: Contracts - Accord and Satisfaction
• State: Multi-State
• Control #: US-1340947BG
• Format: Word; Rich Text

Description

An accord and satisfaction is a method of discharging a contract, or settling a cause of action arising either from a contract or a civil wrong (tort), by substituting for the contract or cause of action an agreement for its satisfaction and the performance of the substituted agreement. The accord is the agreement; the satisfaction is the performance of the agreement. An Accord and Satisfaction and Release Agreement between Employer and Executive Employee Pursuant to a Severance Agreement is a legal contract between an employer and an executive employee in which both parties agree to settle a dispute through a payment or other consideration in exchange for a release from any further liability or obligation. This type of agreement is typically used when the executive employee is being laid off or terminated from their employment. The agreement sets forth the terms of the severance and the amount of money or other consideration to be paid in exchange for the executive employee's waiver of any potential claims against the employer. Types of Accord and Satisfaction and Release Agreement between Employer and Executive Employee Pursuant to a Severance Agreement include: 1. General Release Agreement: This type of agreement releases the employer from any and all claims the executive employee may have against them, including but not limited to wrongful termination, discrimination, and harassment. 2. Severance Agreement: This type of agreement outlines the amount of money or other consideration to be paid to the employee in exchange for the release of any potential claims against the employer. 3. Mutual Release Agreement: This type of agreement requires both parties to release each other from any potential claims. This agreement is typically used when the employer and employee have a dispute over wages or other compensation issues.

An Accord and Satisfaction and Release Agreement between Employer and Executive Employee Pursuant to a Severance Agreement is a legal contract between an employer and an executive employee in which both parties agree to settle a dispute through a payment or other consideration in exchange for a release from any further liability or obligation. This type of agreement is typically used when the executive employee is being laid off or terminated from their employment. The agreement sets forth the terms of the severance and the amount of money or other consideration to be paid in exchange for the executive employee's waiver of any potential claims against the employer. Types of Accord and Satisfaction and Release Agreement between Employer and Executive Employee Pursuant to a Severance Agreement include: 1. General Release Agreement: This type of agreement releases the employer from any and all claims the executive employee may have against them, including but not limited to wrongful termination, discrimination, and harassment. 2. Severance Agreement: This type of agreement outlines the amount of money or other consideration to be paid to the employee in exchange for the release of any potential claims against the employer. 3. Mutual Release Agreement: This type of agreement requires both parties to release each other from any potential claims. This agreement is typically used when the employer and employee have a dispute over wages or other compensation issues.