Pursuant to the terms of your Employment Agreement, you are hereby given <amount of notice> notice that your employment with this company is being terminated. The effective date of your termination will be <date>.
After careful consideration, the decision to terminate your employment was reached on the basis of <reason>.
If you wish to discuss compensation and/or severance pay, references or any other matters, please contact me at your earliest convenience. While it is always difficult and unfortunate when we have to sever a working relationship, I hope this transition will go as smoothly as possible.
Good luck in your future endeavors.