How to Formally Notify an Employee About Non-Renewal Due to Punctuality Issues?

One of our staff members is not punctual in fulfilling his duties. Therefore, before his contract expiry date, we want to issue a notice with immediate effect stating that the organization will not extend his contract.

In this context, please find a draft letter regarding the aforementioned issue so that I can use it formally.

If you just type "termination letter" in the search option of this site, you will find thousands of documents related to this case. However, you need to know the exact name of the document that you require.