Severance Release Agreement

Severance Release Agreement Template for Switzerland

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Key Requirements PROMPT example:

"I need a Severance Release Agreement for a senior executive in our Geneva office who is departing voluntarily on March 1, 2025, including provisions for unvested stock options and a 6-month non-compete clause."

Document background

The Severance Release Agreement is a crucial document used in Swiss employment relationships when terminating employment through mutual agreement or as part of a negotiated exit. It serves as a comprehensive settlement document that outlines the terms of separation, including financial compensation, benefit arrangements, and mutual releases of claims. This agreement type is particularly important in Switzerland, where employment law emphasizes protection of employee rights and requires specific elements such as work certificates and reference letters. The document must comply with Swiss federal and cantonal laws, particularly the Swiss Code of Obligations, and typically includes provisions for social security, pension arrangements, and tax considerations. It's commonly used during corporate restructurings, executive departures, or any situation where a formal documented agreement for employment termination is necessary.

Suggested Sections

1. Parties: Identification of the employer and employee, including full legal names and addresses

2. Background: Brief context of the employment relationship, including start date and position

3. Definitions: Key terms used throughout the agreement

4. Termination Date: Specification of the effective date of employment termination

5. Final Salary and Benefits: Details of final regular salary payment and outstanding benefits

6. Severance Payment: Amount, timing, and conditions of the severance payment

7. Release of Claims: Mutual release of claims, specifically tailored to Swiss law requirements

8. Continuing Obligations: Ongoing duties including confidentiality and non-disparagement

9. Tax and Social Security: Treatment of statutory deductions and social security contributions

10. Return of Company Property: Process and timeline for returning company assets and documents

11. Reference Letter: Commitment to provide a reference letter as required by Swiss law

12. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction

13. Entire Agreement: Integration clause and confirmation of full terms

14. Execution: Signature blocks and date

Optional Sections

1. Garden Leave: Terms of garden leave if applicable during notice period

2. Post-termination Restrictions: Non-compete and non-solicitation provisions if agreed

3. Ongoing Projects: Handover requirements for specific projects or responsibilities

4. Stock Options/Equity: Treatment of any outstanding equity compensation

5. Insurance Continuation: Details of any continued insurance coverage

6. Outplacement Services: Terms of any career transition support provided

7. Legal Fees: Any agreement regarding payment of legal fees

8. Pension Arrangements: Special provisions regarding pension fund transfers or payments

9. International Considerations: Special provisions for cross-border employment situations

Suggested Schedules

1. Schedule 1 - Calculation of Severance Payment: Detailed breakdown of severance calculation

2. Schedule 2 - Outstanding Benefits: List of accrued benefits and their treatment

3. Schedule 3 - Company Property: Inventory of items to be returned

4. Appendix A - Release Claims: Detailed list of claims being released

5. Appendix B - Reference Letter: Draft or agreed form of reference letter

6. Appendix C - Certificate of Service: Draft or agreed form of work certificate (Arbeitszeugnis)

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

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Human Resources

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Chief Executive Officer

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Managing Director

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Let's create your Severance Release Agreement

Authors

Alex Denne

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