190-26 Separation Agreement R. Smith.pdf

1 190-26 SETTLEMENT AGREEMENT AND GENERAL RELEASE This Settlement Agreement and General Release (hereinafter referred to as the “Agreement”) is entered into this 7th day of July 2026 between the Township of West Orange (hereinafter referred to as “Township”) and Richard Smith hereinafter referred to as (“Smith”) (collectively, the “Parties,” each a “Party”). WHEREAS, Smith has been an employee with the Township from the period of June 4, 2001- June 1, 2026; WHEREAS, a calculation of Smith’s accumulated accrued leave time balances and ending pensionable rate have been provided to support a total payment of $65,484.65. WHEREAS, outside legal counsel has reviewed documentation, including accrual balances, has verified the figures that support the total payment amount, and has provided a written opinion in support thereof; WHEREAS, the Parties wish to resolve all disputes which may have arisen out of or in relation to the processing of payment of Smith’s accrued earned and unused paid leave and Smith’s employment with the Township to date; and WHEREAS, the Parties wish to memorialize in the Agreement all the terms and conditions of Smith’s employment separation payout and desire to resolve all outstanding issues with respect to this matter; NOW, THEREFORE, in consideration for the promises and mutual covenants set forth herein, the Parties agree as follows: COVENANTS AND TERMS OF AGREEMENT 1. TOWNSHIP TO PROCESS PAYMENT a. The Township agrees to process payment to Smith for all his accrued earned and unused paid leave time without further delay in the amount of $ 65,484.65. b. Smith agrees to waive any and all claims to back pay, benefits, and any and all other monetary claims including, but not limited to, attorneys’ fees with respect to his employment with the Township to date with the sole exception of the payment pursuant to paragraph (a) above. c. Smith and the Township acknowledge that this Agreement does not nor will it establish precedent in any future proceedings, nor is it intended to add to, modify or change any collective bargaining agreement.