Retirement Agreement
/rɪˈtaɪərmənt əˈɡriːmənt/
Definitions
- (n.) A legally binding contract outlining the terms under which an employee agrees to retire, often including benefits, payments, and obligations.
The company offered a retirement agreement that included a severance package and extended health benefits.
- (n.) An agreement detailing the settlement of rights and obligations upon an individual's retirement, sometimes involving non-compete or confidentiality clauses.
Before finalizing the retirement agreement, the lawyer reviewed the non-disclosure terms with the client.
Forms
- retirement agreements
Related terms
See also
Commentary
Retirement agreements often require clear specification of terms to avoid post-retirement disputes, including compensation and restrictive covenants.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.