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Severance And Release Agreement

Severance And Release Agreement Template for Pakistan

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Key Requirements PROMPT example:

Severance And Release Agreement

"I need a Severance and Release Agreement for a mid-level software engineer in Karachi who will be terminated due to company restructuring effective March 15, 2025, with a standard severance package of 3 months' salary and continued health benefits for 6 months."

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Document background
The Severance and Release Agreement is a crucial document used in Pakistan when formally ending an employment relationship through mutual agreement or unilateral termination. It is particularly important in situations involving redundancy, restructuring, or negotiated exits, providing both parties with legal certainty and protection. The agreement must comply with Pakistani labor laws, including the Industrial Relations Act 2012, Employment and Service Conditions Act 1965, and relevant provincial legislation. This document typically includes detailed provisions for severance payments, benefit continuations, release of claims, and ongoing obligations such as confidentiality and non-competition. The Severance and Release Agreement serves as a comprehensive record of the separation terms while protecting both employer and employee interests through clear documentation of rights, obligations, and mutual releases.
Suggested Sections

1. Parties: Identification of the employer and employee with complete legal names and addresses

2. Background: Brief history of employment relationship, reason for agreement, and context of separation

3. Definitions: Key terms used throughout the agreement including 'Effective Date', 'Severance Payment', 'Released Claims', etc.

4. Termination of Employment: Official termination date, final working day, and handover requirements

5. Severance Benefits: Detailed breakdown of severance package including monetary compensation and other benefits

6. Payment Terms: Timeline and method of severance payment, tax implications, and any conditions precedent

7. Release of Claims: Mutual release of claims and rights waived by both parties

8. Continuing Obligations: Ongoing obligations such as confidentiality, non-disparagement, and return of company property

9. Company Property: Requirements for return of company assets, documents, and intellectual property

10. Final Settlement: Confirmation that the severance package represents full and final settlement

11. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and relevant jurisdiction

12. General Provisions: Standard clauses including entire agreement, amendments, and severability

Optional Sections

1. Non-Competition: Restrictions on future employment with competitors, used for senior employees or those with access to sensitive information

2. Non-Solicitation: Restrictions on soliciting company employees or customers, typically for senior roles

3. Reference and Communications: Terms regarding future employment references and agreed communication about the separation

4. Outplacement Services: Details of any career transition support provided, typically for senior management

5. Benefits Continuation: Extended medical or other benefits beyond termination date, if applicable

6. Stock Options/Share Rights: Treatment of any outstanding equity compensation, for employees with share-based compensation

7. Legal Costs: Provisions for payment of legal fees for agreement review, typically for senior executives

8. Cooperation in Pending Matters: Requirements for assistance in ongoing business matters or litigation

9. Revocation Period: Time period for employee to revoke acceptance, if required by applicable law

Suggested Schedules

1. Schedule A - Severance Calculation: Detailed calculation of severance amount including basic pay, gratuity, and other components

2. Schedule B - Benefits Summary: Complete list of benefits and their treatment post-termination

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

4. Schedule D - Outstanding Claims: List of all claims being released by both parties

5. Appendix 1 - Resignation Letter: Standard format resignation letter to be signed by employee

6. Appendix 2 - Certificate of Service: Standard format service certificate to be provided by employer

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

Banking & Financial Services

Information Technology

Manufacturing

Telecommunications

Healthcare

Education

Real Estate & Construction

Retail & Consumer Goods

Energy & Utilities

Professional Services

Transportation & Logistics

Pharmaceuticals

Textiles

Agriculture

Mining

Relevant Teams

Human Resources

Legal

Finance

Operations

Information Technology

Sales

Marketing

Research & Development

Production

Customer Service

Administration

Business Development

Quality Assurance

Supply Chain

Corporate Communications

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Managing Director

General Manager

Department Head

Senior Manager

Project Manager

Software Engineer

Sales Representative

Administrative Officer

Human Resources Manager

Financial Analyst

Operations Manager

Marketing Executive

Research Analyst

Production Supervisor

Account Manager

Business Development Executive

Technical Lead

Customer Service Representative

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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