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Termination Agreement Form
1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant identification numbers
2. Background: Brief context of the employment relationship, including start date and current position
3. Definitions: Definition of key terms used throughout the agreement
4. Termination Date: Clear statement of the effective date of termination and last working day
5. Final Salary and Benefits: Details of final salary payment, including calculation of any pro-rata amounts
6. Holiday Pay Settlement: Calculation and payment terms for any accrued holiday pay as per the Danish Holiday Act
7. Company Property: Requirements and timeline for returning company property
8. Confidentiality Obligations: Ongoing obligations regarding confidential information
9. Full and Final Settlement: Confirmation that the agreement represents a full and final settlement of all claims
10. Governing Law: Confirmation that the agreement is governed by Danish law
11. Signatures: Execution blocks for both parties
1. Severance Payment: Details of any severance payment beyond statutory requirements - include when additional severance is offered
2. Release of Claims: Mutual release of claims - include in cases of potential disputes or when offering enhanced packages
3. Reference Provision: Terms regarding employment references - include when agreed to provide references
4. Non-Competition/Non-Solicitation: Post-employment restrictions - include when existing contracts contain these clauses or new ones are agreed
5. Outplacement Support: Details of any career transition services - include when offering outplacement support
6. Share Options/Bonus Treatment: Treatment of outstanding share options or bonus payments - include when employee has such arrangements
7. Insurance Continuation: Details of any post-employment insurance benefits - include when offering extended coverage
8. Tax Implications: Overview of tax treatment - include when complex compensation elements are involved
1. Schedule 1 - Payment Calculation: Detailed breakdown of all payments including final salary, holiday pay, and any additional payments
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Benefit Details: Detailed information about the treatment of various benefits and their termination dates
4. Appendix A - Data Privacy Notice: Information about the handling of personal data post-employment
5. Appendix B - Tax Summary: Summary of tax treatment of various payment elements
6. Appendix C - Existing Restrictive Covenants: Copy of any existing non-compete or non-solicitation obligations that will continue
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