A Termination Agreement is a legal document that outlines the terms under which a contract or employment relationship is ended. It specifies the rights and responsibilities of both parties involved, ensuring that the termination process is clear and agreed upon. This agreement can help prevent misunderstandings and potential disputes in the future. Typically, a Termination Agreement includes details such as the effective date of termination, any final payments or benefits, and confidentiality clauses. It may also address the return of company property or the handling of ongoing obligations, providing a structured way to conclude the relationship between the parties, such as an employer and an employee.