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Mutual Separation Agreement Employment

Mutual Separation Agreement Employment Template for New Zealand

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Key Requirements PROMPT example:

Mutual Separation Agreement Employment

"Need a Mutual Separation Agreement Employment for a senior executive in the technology sector, with provisions for gardening leave until March 2025, ongoing share options, and post-employment restrictions including 12-month non-compete and non-solicitation clauses."

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Document background
The Mutual Separation Agreement Employment is a crucial document used in New Zealand when an employer and employee mutually agree to end their employment relationship. This agreement is particularly relevant in situations where both parties wish to part ways amicably and formalize the separation terms outside of standard resignation or termination processes. The document must comply with New Zealand employment law, particularly the Employment Relations Act 2000, and typically includes comprehensive details about final payments, leave entitlements, confidentiality obligations, and mutual releases. It serves as protection for both parties by clearly documenting the agreed terms of separation and helping prevent future disputes. The agreement is especially useful in situations involving senior employees, restructuring scenarios, or when special termination arrangements are needed.
Suggested Sections

1. Parties: Identifies the employer and employee entering into the agreement

2. Background: Sets out the context of the employment relationship and the mutual decision to terminate

3. Definitions and Interpretation: Defines key terms used throughout the agreement

4. Termination Date: Specifies the final date of employment and any transition period

5. Final Payment: Details of salary, wages, and other entitlements up to the termination date

6. Leave Entitlements: Calculation and payment of outstanding annual leave, sick leave, and other leave entitlements

7. Company Property: Requirements for return of company property and intellectual property rights

8. Confidentiality: Ongoing obligations regarding confidential information

9. Full and Final Settlement: Mutual release of claims and confirmation of full settlement

10. Tax Treatment: Clarification of tax treatment of payments

11. Execution: Signing provisions and acknowledgment of independent legal advice

Optional Sections

1. Gardening Leave: Used when the employee will remain employed but not required to work during notice period

2. Reference and Announcement: Include when parties agree on the form of reference and internal/external announcements

3. Post-Employment Restrictions: Used when including or affirming non-compete or non-solicitation provisions

4. Outplacement Support: Include when employer is providing career transition services

5. Share Options/Long-Term Incentives: Required when addressing treatment of existing share schemes or long-term incentives

6. Continuing Obligations: Used to specify any ongoing duties or obligations post-employment

7. Medical Insurance/Benefits: Include when addressing continuation or termination of employment benefits

8. Legal Costs: Used when employer agrees to contribute to employee's legal costs

Suggested Schedules

1. Schedule 1 - Payment Calculations: Detailed breakdown of all payments including salary, leave entitlements, and any special payments

2. Schedule 2 - Company Property List: Itemized list of company property to be returned

3. Schedule 3 - Reference Letter: Agreed form of reference letter if applicable

4. Appendix A - Acknowledgment Form: Form for employee to acknowledge receipt of final payment and return of company property

5. Appendix B - Deed of Release: Formal release of all claims against the employer

6. Appendix C - Certificate of Independent Legal Advice: Confirmation that employee received independent legal advice

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions




























Clauses


























Relevant Industries

Financial Services

Technology

Healthcare

Manufacturing

Retail

Professional Services

Education

Construction

Hospitality

Mining and Resources

Agriculture

Transportation and Logistics

Media and Entertainment

Telecommunications

Energy

Relevant Teams

Human Resources

Legal

Executive Leadership

Finance

Operations

Corporate Services

Risk and Compliance

Administration

Relevant Roles

Chief Executive Officer

Managing Director

Senior Manager

Department Head

Project Manager

Senior Executive

Regional Manager

Account Manager

Technical Lead

Operations Manager

Sales Director

Financial Controller

Human Resources Manager

General Counsel

Department Supervisor

Senior Consultant

Business Development Manager

Program Director

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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