The General Release For Employment Termination is a crucial document used when ending employment relationships in England and Wales. It's typically implemented when parties wish to achieve a clean break and prevent future disputes. The document combines elements of statutory requirements, contractual obligations, and negotiated terms to create a comprehensive settlement. It must comply with UK employment law and includes specific provisions about termination payments, tax treatment, confidentiality, and waiver of claims. This agreement is particularly important in situations involving senior employees, redundancies, or where there might be potential disputes, as it provides certainty and protection for both parties.
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1. Parties: Identification of employer and employee
2. Background: Context of employment and reason for termination
3. Definitions: Key terms used in the agreement
4. Termination Date: Specified date of employment termination
5. Payment Terms: Details of final salary, benefits, and any settlement payment
6. Tax Treatment: Tax implications of payments
7. Claims Released: Specific claims being waived by the employee
8. Confidentiality: Obligations regarding confidential information
9. Governing Law: Jurisdiction and applicable law
1. Reference Provision: Terms of employment reference to be provided by the employer
2. Garden Leave: Terms and conditions of any garden leave period prior to termination
3. Post-termination Restrictions: Non-compete and other restrictive covenants that survive termination
4. Company Property: Provisions regarding the return of company assets and property
5. Legal Fees: Terms regarding employer's contribution to employee's legal fees
1. Schedule of Claims: Detailed list of statutory and contractual claims being waived
2. Payment Schedule: Breakdown of all payments and benefits to be made
3. Certificate of Independent Legal Advice: Confirmation from legal advisor that appropriate advice has been given
4. Post-termination Restrictions: Full terms of any continuing restrictions after employment ends
5. Company Property List: Detailed inventory of company items to be returned
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