Separation Agreement and Mutual Release

• Category: Employment - Termination
• State: Multi-State
• Control #: US-E-T-409-01
• Format: Word; Rich Text

Description

An agreement and release is a legal agreement that releases a party from contractual obligations or where a party concedes rights. This agreement is most commonly used at the end of a contract term to certify that neither party has any legal claims against the other. In other words, it is a legally binding agreement that, once signed, makes it unlawful for either party to make legal claims against the other regarding responsibilities, duties, or obligations under the agreement and release. Also called a release and waiver agreement, this document is often signed following a settlement agreement, which offers financial compensation in exchange for terminating pending legal allegations. The agreement and release effectively ensures that upon receipt of the settlement, no further court action can be pursued for the same reason.