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Employment Agreement After Sale Of Business Template for England and Wales

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Key Requirements PROMPT example:

Employment Agreement After Sale Of Business

"I need an Employment Agreement After Sale Of Business for a senior software developer transferring from the target company to our business following our acquisition, with specific provisions for remote working and retention of existing share options, to be effective from March 2025."

Document background
The Employment Agreement After Sale Of Business is essential when a business changes ownership in England and Wales. It serves to document the employment relationship between transferred employees and the new employer, ensuring compliance with TUPE regulations and other relevant employment laws. This agreement is particularly important as it confirms any agreed variations to employment terms post-transfer, provides clarity on continuing obligations, and helps maintain business continuity. It should be used whenever employees transfer to a new employer as part of a business sale, merger, or acquisition.
Suggested Sections

1. Parties: Identification of employer and employee

2. Background: Context of the business sale and employment transfer

3. Definitions: Key terms used throughout the agreement

4. Commencement and Term: Start date and duration of employment

5. Role and Duties: Job title, responsibilities, and reporting structure

6. Remuneration and Benefits: Salary, bonuses, and benefits package

7. Working Hours and Location: Work schedule and place of work

8. Holiday Entitlement: Annual leave and public holidays

9. Termination Provisions: Notice periods and grounds for termination

Optional Sections

1. Post-Completion Integration: Specific integration requirements following the business sale

2. Share Options: Details of any share schemes or options available to the employee

3. International Travel: Requirements and provisions for international work duties

4. Garden Leave: Provisions for garden leave during notice period for senior employees

Suggested Schedules

1. Schedule 1 - Job Description: Detailed outline of role and responsibilities

2. Schedule 2 - Benefits Package: Detailed description of all benefits including pension, insurance, and other perks

3. Schedule 3 - Company Policies: Key policies applicable to the employment

4. Schedule 4 - TUPE Information: Details of transferred terms and conditions from previous employment

5. Schedule 5 - Performance Metrics: KPIs and performance evaluation criteria

Authors

Alex Denne

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

Relevant legal definitions



































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Relevant Industries
Relevant Teams
Relevant Roles
Industries

TUPE Regulations 2006: Transfer of Undertakings (Protection of Employment) Regulations that protect employees' rights during business transfers, ensuring automatic transfer of employment terms and conditions and requiring consultation with affected employees

Employment Rights Act 1996: Core employment legislation covering basic employment rights, unfair dismissal provisions, statement of employment particulars, notice periods, and redundancy provisions

Equality Act 2010: Legislation ensuring protection against discrimination, equal treatment requirements, and reasonable accommodations in the workplace

Working Time Regulations 1998: Regulations governing maximum working hours, rest breaks, and holiday entitlements for employees

National Minimum Wage Act 1998: Legislation establishing minimum wage requirements and payment regulations

Data Protection Act 2018 and UK GDPR: Laws governing employee data protection and privacy requirements in the workplace

Pensions Act 2008: Legislation covering auto-enrollment requirements and pension scheme obligations for employers

Companies Act 2006: Corporate legislation relevant to director duties and corporate governance requirements in employment contexts

Collective Agreements: Any existing collective agreements that may affect employment terms and conditions post-business sale

Industry-Specific Regulations: Relevant sector-specific regulations that may impact employment terms in the particular industry

Business Sale Agreement: Specific terms from the business sale agreement that may affect employment conditions and transfer arrangements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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