The Settlement Agreement Ex Gratia Payment is a formal legal document used when one party wishes to make a voluntary payment to another party without admitting any legal obligation to do so. This type of agreement is commonly used in Austrian business practice to resolve potential disputes or to provide additional compensation beyond contractual obligations. It must comply with Austrian civil law requirements, particularly the provisions of the ABGB regarding settlement agreements (Vergleich) and the Austrian Income Tax Act (EStG) for tax treatment. The document typically includes detailed payment terms, comprehensive releases, tax and social security provisions, and confidentiality obligations. It's particularly useful in employment contexts, corporate restructuring, or other situations where a party wishes to make a payment while maintaining that it has no legal obligation to do so.
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1. Parties: Identification of the parties entering into the agreement
2. Background: Context of the situation leading to the ex gratia payment, explicitly stating its voluntary nature
3. Definitions: Key terms used throughout the agreement
4. Ex Gratia Payment: Details of the payment amount, timing, and method of payment
5. Tax and Social Security: Clarification of tax treatment and social security implications
6. Release of Claims: Comprehensive release of all claims by the receiving party
7. Confidentiality: Obligations regarding confidentiality of the agreement and its terms
8. Data Protection: GDPR compliance and data handling provisions
9. Governing Law: Confirmation of Austrian law as governing law
10. Execution: Signature blocks and execution provisions
1. Non-Disparagement: Mutual obligations not to make negative statements, used when public relations are a concern
2. Return of Property: Requirements for returning company property, relevant if the recipient was an employee
3. Non-Compete/Non-Solicitation: Restrictions on future activities, used when protecting business interests is crucial
4. Reference: Terms regarding future employment references, included when the recipient is a former employee
5. Announcement: Agreed format for any internal or external communications about the settlement
6. Legal Advice: Confirmation that independent legal advice was received, used in high-value settlements
1. Payment Schedule: Detailed breakdown of payment amounts and dates if payment is to be made in installments
2. Tax Calculation: Detailed calculation of tax implications and net payment amounts
3. Form of Release: Standard form for executing the release of claims
4. Company Property List: Itemized list of company property to be returned, if applicable
5. Agreed Announcement Text: Pre-approved text for any internal or external communications about the settlement
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Manufacturing
Technology
Professional Services
Healthcare
Retail
Education
Construction
Energy
Telecommunications
Relevant Teams
Human Resources
Legal
Finance
Compliance
Employee Relations
Payroll
Risk Management
Executive Leadership
Corporate Governance
Relevant Roles
Chief Executive Officer
Human Resources Director
Legal Counsel
Finance Director
Compliance Officer
HR Business Partner
Department Manager
Employee Relations Manager
Payroll Manager
Risk Manager
General Counsel
Chief Financial Officer
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