Employment Termination Agreement
This Employment Termination Agreement (“Agreement”) is entered into on June 30, 2021, by and between XXX (the “Company”) and YYY (“Employee”).
WHEREAS, Employee was employed by the Company from January 1, 2020.
WHEREAS, Employee and the Company agreed to terminate employment relationship as of June 30, 2021.
WHEREAS, Employee and the Company like to settle any disputes and difference relating to employment relationship and its termination.
THEREFORE, both parties agree as follows:
The parties agreed that the Employee’s employment with the Company is terminated effective on June 30, 2021. In consideration for the execution of this Agreement and for the covenants and promises described below, the Company will pay Employee JPY 1,000,000 as a severance payment. Severance payment shall be contingent upon the execution and non-revocation of this Agreement.