A North Carolina-compliant separation agreement (also commonly referred to as a severance agreement) between an employer and a departing employee specifying terms of the employee's separation from employment, including a release of legal claims against the employer in exchange for a benefit. This Standard Document is drafted in favor of the employer and has integrated notes with important explanations and drafting tips. This Standard Document is based on North Carolina law and is intended to be used by North Carolina employers. For a jurisdiction neutral short-form separation agreement that can be tailored to North Carolina law, see Standard Document, Separation and Release of Claims Agreement (Short-Form).