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Full And Final Settlement Agreement Template for Ireland

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Key Requirements PROMPT example:

Full And Final Settlement Agreement

"I need a Full and Final Settlement Agreement for a senior executive's departure by mutual consent, including provisions for share options, continued health benefits until March 2025, and an agreed reference letter, with the settlement sum being paid in two installments."

Document background
The Full and Final Settlement Agreement is a crucial legal document used in Irish employment law contexts when an employment relationship is being terminated or an employment-related dispute is being resolved. It serves as a comprehensive settlement of all claims between employer and employee, providing certainty and closure for both parties. The document is typically used in situations involving redundancy, mutual separation, resolution of workplace disputes, or settlement of potential claims. It must comply with Irish employment law requirements, including the necessity for independent legal advice for the employee. The agreement covers various aspects including financial settlements, tax treatment, confidentiality provisions, and mutual obligations, while ensuring all statutory requirements under Irish law are met. This type of agreement is particularly important as it provides protection for both parties by preventing future claims and clearly documenting the terms of settlement.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including full legal names and addresses

2. Background: Outlines the context of the dispute or circumstances leading to the settlement

3. Definitions: Defines key terms used throughout the agreement

4. Settlement Terms: Details the settlement sum and payment terms

5. Tax Indemnity: Addresses tax implications and responsibilities

6. Settlement and Waiver: Comprehensive list of claims being settled and waived

7. Warranties and Representations: Statements of fact and promises made by both parties

8. Confidentiality: Terms regarding the confidentiality of the settlement and dispute

9. Return of Property: Requirements for returning company property and documents

10. Post-Settlement Obligations: Ongoing obligations of both parties after settlement

11. Non-Disparagement: Mutual agreements not to make derogatory statements

12. Legal Advice: Confirmation that independent legal advice was received

13. Entire Agreement: Confirms this document represents the complete agreement between parties

14. Governing Law: Specifies Irish law as governing law and jurisdiction

15. Execution: Signature blocks and execution requirements

Optional Sections

1. References: Terms regarding the provision of references - include when future employment references are part of the settlement

2. Non-Compete Clauses: Restrictions on future employment - include when post-employment restrictions are required

3. Pension Arrangements: Details of any pension-related settlements - include when pension rights are affected

4. Share Options: Treatment of existing share options or awards - include for settlements involving senior executives

5. Ongoing Medical Insurance: Provisions for continued medical coverage - include when health benefits are part of settlement

6. Legal Costs: Agreement on payment of legal costs - include when legal costs are being covered

7. Announcement: Agreed internal/external communications - include for high-profile settlements

8. Garden Leave: Terms of any garden leave period - include when applicable to departure arrangements

Suggested Schedules

1. Schedule 1 - Claims Being Settled: Comprehensive list of all statutory and common law claims being settled

2. Schedule 2 - Payment Details: Breakdown of settlement payment including tax treatment of different elements

3. Schedule 3 - Company Property: Itemized list of company property to be returned

4. Appendix A - Agreed Reference: Format and content of agreed employment reference if applicable

5. Appendix B - Resignation Letter: Template or agreed form of resignation letter if applicable

6. Appendix C - Announcement Text: Agreed wording for any internal or external announcements

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





























Clauses




























Relevant Industries

Financial Services

Technology

Healthcare

Manufacturing

Retail

Professional Services

Education

Construction

Telecommunications

Pharmaceuticals

Public Sector

Non-Profit

Media and Entertainment

Energy

Transportation and Logistics

Relevant Teams

Human Resources

Legal

Finance

Compliance

Risk Management

Senior Management

Board of Directors

Operations

Employee Relations

Payroll

Relevant Roles

HR Director

Legal Counsel

Chief Financial Officer

HR Manager

Employment Lawyer

Compliance Officer

Risk Manager

Managing Director

Department Head

Line Manager

HR Business Partner

Company Secretary

Operations Director

Chief Executive Officer

Finance Manager

Senior Executive

Department Manager

Industries










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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