This Corporate Executive Severance Agreement documents an executive's resignation and his/her subsequent agreement to render consulting services to the company. This type of agreement if often used in circumstances where the separation was amicable and the executive’s expertise or knowledge of a specific project is valuable to the company.

This letter agreement sets forth the consulting services to be rendered, location of the services and fees paid for the consultation services. It also sets forth the benefits (such as health and life insurance) that the executive will continue to receive and how expenses for travel and entertainment will be reimbursed. It also specifies that consultant will now be considered an independent contractor and not a company employee.

This Corporate Executive Severance Agreement contains the following:

• Resignation: Acknowledges receipt of the individual's letter of resignation and its effective date;
• Consulting: Sets out that he or she will provide consulting services for the company and the time period and specific services to be provided;
• Fees: Specifies the amount paid for the consultations and that fees will be payable in equal biweekly installments;
• Independent Contractor: Consultant is considered as an independent contractor and not an employee of company;
• Confidential Information: Consultant acknowledges receipt of confidential information while employed with the company and that this information will not be disclosed or communicated to others;
• Restrictive Covenants: Restrictions under which the consultant agrees including consulting with other business competitors;
• Signatures: Both parties must sign this letter agreement.

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This attorney-prepared packet contains:

1. General Information
2. Instructions and Checklist
3. Corporate Executive Severance Agreement

State Law Compliance: This form complies with the laws of all states