OK. Answering this question would be bordering on offering legal counsel, which I’m not qualified to provide. So, my first suggestion is getting a lawyer to draft the letter.
What I CAN say is that if I were an HR director in the position you describe, I would make it a point to include:
- The exact details of what the employee did and when he did it;
- The employee’s acknowledgement that he knew that his actions violated company policy and were in no way justified, excused or condoned by management or anybody else;
- The amount of money involved;
- The plan, if any, for the employee to repay the money;
- A statement of the employee’s decision to resign and/or acknowledgement that his conduct constitutes just cause for termination without notice or wages in lieu of notice;
- The employee’s agreement not to sue or pursue any legal action against the company
- The consideration, i.e., the thing of value the employee will receive for waiving his rights to sue. Possibilities: Your promise not to sue him; forgiveness of the debt
- Signature and date
I want to again emphasize that this is just a general opinion based on a theoretical situation and in no way constitutes legal advice. I still urge you to talk to a lawyer, especially if this is a termination situation. Hope my thoughts on the matter are of some help, though. Glenn