The Employment Settlement Agreement is a crucial legal document used in New Zealand when an employer and employee agree to resolve employment-related disputes or negotiate a mutual separation. This document is particularly relevant when parties wish to formalize the termination of employment through mutual agreement, often involving compensation, confidentiality provisions, and mutual releases. It must comply with New Zealand's employment legislation, particularly the Employment Relations Act 2000, and typically requires both parties to receive independent legal advice. The agreement serves to prevent future disputes by clearly documenting all settlement terms, including financial arrangements, ongoing obligations, and any specific conditions agreed upon by the parties.
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1. Parties: Identifies and defines all parties to the agreement, including full legal names and descriptions
2. Background: Outlines the employment relationship, the existence of a dispute or circumstances leading to the settlement, and the parties' intention to resolve all matters
3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets out rules for interpretation
4. Settlement Terms: Details the core settlement provisions, including payment amounts and timing
5. Tax Treatment: Specifies how various components of the settlement payment will be treated for tax purposes
6. Release and Waiver: Mutual release of claims and waiver of rights to future claims
7. Confidentiality: Obligations regarding confidentiality of the agreement terms and circumstances
8. Non-Disparagement: Mutual obligations not to make disparaging comments about each other
9. Acknowledgments: Confirmations from both parties about understanding the agreement and receiving independent advice
10. General Provisions: Standard contractual terms including governing law, entire agreement, and amendment provisions
1. References: Terms regarding the provision of employment references, used when reference terms are part of the settlement
2. Return of Property: Provisions regarding company property return, used when there are outstanding items to be returned
3. Post-Employment Restrictions: Restatement or modification of existing restraints of trade, used when relevant to the settlement
4. Ongoing Cooperation: Terms for future assistance or handover, used when continued cooperation is needed
5. Medical Records: Provisions regarding medical information, used in health-related employment terminations
6. Garden Leave: Terms of any garden leave period, used when applicable to the termination arrangement
7. Legal Costs: Provisions regarding payment of legal costs, used when cost reimbursement is part of the settlement
1. Schedule 1 - Settlement Payment Breakdown: Detailed breakdown of settlement payments including salary, holiday pay, ex gratia payments
2. Schedule 2 - Deed of Release: Formal deed of release that may be required to be signed separately
3. Schedule 3 - Agreed Reference: Template or text of agreed employment reference if applicable
4. Schedule 4 - Company Property List: Itemized list of company property to be returned
5. Appendix A - Independent Advice Certificate: Certificate from legal advisor confirming independent advice has been given
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Technology
Healthcare
Manufacturing
Retail
Professional Services
Education
Construction
Hospitality
Transportation
Agriculture
Mining
Media and Entertainment
Telecommunications
Public Sector
Relevant Teams
Human Resources
Legal
Executive Management
Finance
Operations
Compliance
Industrial Relations
People & Culture
Employee Relations
Risk Management
Relevant Roles
Chief Executive Officer
Human Resources Director
Legal Counsel
Department Manager
Senior Executive
General Manager
Operations Manager
Finance Director
Sales Manager
Technical Lead
Project Manager
Department Head
Regional Manager
Chief Financial Officer
Chief Operating Officer
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