FREE Canadian Full and Final Release
A free Full and Final Release Agreement for use in Canada. This allows an employee to release an employer from liabilty and any causes of action upon termination of employment.
Disclaimer:This was not drafted by a attorney & should not be used as a legal document.
FULL AND FINAL RELEASE AGREEMENT
This Full and Final Release Agreement is made on this [Date] by and between:
The [Company], having its registered office at [Address] hereinafter referred as the Company;
AND[Name], having his/her residence at [Address] hereinafter referred as the Employee
The terms and conditions set out below, along with the attached Full and Final Release, will constitute our binding agreement regarding the terms and conditions of the engagement with the Company:
Effective from [Date of release] the Employee will cease to have the title andresponsibilities as [Position Held].
On [Termination Date]or such other earlier date as the Employee advise (in eithercase the "Termination Date") the employment relationship with the Company willbe deemed to have terminated without cause.
The Employee for good and valuable consideration as set out in the Agreement effective [Date] (the "Agreement") the sufficiency of such consideration beinghereby acknowledged, does hereby remise, release and forever discharge the Company, its successors, administrators, assigns, affiliated and relatedcompanies, and their respective directors, officers, employees and agents(hereinafter collectively referred to as the "Company"), of and from allactions, causes of action, damages, claims, cross-claims and demands whatsoever.
IN ADDITION TO AND WITHOUT ANY LIMITATION TO THE FOREGOING, the Employee acknowledges that he has not been subjected to any form of discriminationcontrary to any statute or otherwise at law.
IT IS FURTHER UNDERSTOOD AND AGREED THAT FOR THE SAME CONSIDERATION, the Employee further covenants and agrees to save harmless and indemnify the Company from and against all claims, charges, taxes or penalties and demandswhich may be made by the Minister of National Revenue requiring the Employee topay income tax under the Income Tax Act (Canada) in respect of income taxpayable by the Employee in excess of the income tax previously withheld, and in respect of any and allclaims, charges, taxes or penalties and demands which may be made on behalf ofor related to the Minister of National Revenue, the Employment InsuranceCommission, the Canada Pension Commission, or the Workplace Safety and InsuranceBoard, under the applicable statutes and regulations, with respect to anyamounts which may, in the future be found to be payable by the Company inrespect of the Employee.
This Agreement will be governed by the laws in effect in [Province], Canada.
IN WITNESS WHEREOF THE PARTIES hereto have hereunto set and subscribed their respective hands on the day and date first hereinabove mentioned.