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Independent Contractor Severance Agreement
"I need an Independent Contractor Severance Agreement for terminating a software development contractor who's been working on our fintech project for 3 years, including provisions for code handover and ongoing maintenance support until March 2025."
1. Parties: Identification of the principal company and the independent contractor, including ACN/ABN and registered addresses
2. Background: Brief history of the contractor relationship, reference to original agreement, and context for the severance
3. Definitions: Key terms used throughout the agreement, including references to original contract terms where relevant
4. Termination Date: Clear specification of when the contractor relationship will end or has ended
5. Final Payment: Details of all final payments, including outstanding invoices, termination payments, and timing
6. Mutual Release: Release of claims and obligations between parties, subject to terms of this agreement
7. Return of Property: Requirements for return of company property, documents, and materials
8. Continuing Obligations: Surviving terms from original agreement such as confidentiality and intellectual property
9. Tax Matters: Responsibility for taxes, superannuation, and other statutory payments
10. Confidentiality: Obligations regarding confidentiality of the severance agreement and ongoing confidentiality duties
11. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and severability
1. Transition Services: Used when contractor needs to provide handover or complete specific tasks before departure
2. Non-Disparagement: Include when parties wish to ensure mutual professional courtesy post-termination
3. References: Include when parties agree on the nature and content of future references
4. Ongoing Projects: Used when there are specific arrangements for incomplete projects or work
5. Post-Termination Restraints: Include when new or modified restraint of trade provisions are required
6. Dispute Resolution: Include detailed dispute resolution procedures for high-value or complex arrangements
7. Third Party Rights: Include when termination affects rights or obligations with third parties
8. Insurance: Include when specific insurance obligations continue post-termination
1. Schedule 1 - Payment Details: Detailed breakdown of all final payments, including calculation methods
2. Schedule 2 - Company Property: Itemized list of company property to be returned
3. Schedule 3 - Ongoing Projects: List and status of any projects requiring transition or completion
4. Schedule 4 - Original Agreement: Copy of the original contractor agreement for reference
5. Schedule 5 - Release Deed: Detailed deed of release covering all claims and obligations
6. Appendix A - Handover Documentation: Template or requirements for handover documentation
7. Appendix B - Confidential Information: Specific list of confidential information and handling requirements
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