SEPARATION AGREEMENT AND GENERAL RELEASE
This separation agreement and general release is made and entered into by and between Kentucky State University (“KSU”) and ___ (“Employee”).
RECITALS and STIPULATIONS
WHEREAS, the Employee was employed by KSU as an at-will Employee;
WHEREAS, the Kentucky State University Board of Regents voted at its May 5, 2020 Special-Called Board of Regents Meeting to approve an action directing KSU to implement immediate measures to ensure its financial stability through an immediate reduction in force;
WHEREAS, the Kentucky State University Board of Regents placed KSU with the difficult decision to implement a campus-wide reduction of personnel based on a thorough review its current workforce, the distribution of labor, and costs given the current financial and enrollment considerations.
WHEREAS, KSU identified the Employee's position as one that would be subject to a reduction in force, a re-alignment, and/or cessation of duties.
WHEREAS, KSU is separating the Employee from KSU without cause and consistent with the Employee's status as an at-will employee.
WHEREAS, KSU and the Employee do not anticipate that there will be any disputes between them or legal claims arising out of the Employee's resignation from KSU, but nevertheless the parties desire to ensure a completely amicable parting and to settle fully and finally any and all differences or claims that might otherwise arise out of the Employee's employment with KSU;
NOW, THEREFORE, in consideration of the foregoing, Employee and KSU have agreed to the following terms, both intending to bind themselves, their heirs, assigns, executors, personal representatives, and devisees:
AGREEMENT
Employee's employment at KSU ended on _____.
Immediately following conclusion of Employee's employment with KSU, KSU paid Employee's normal rate of pay for time worked from the date Employee was hired through the End, plus any applicable vacation time.
KSU now also agrees to pay Employee an additional lump sum payment of $1,886.00 as consideration for the promises of Employee contained herein.