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Mutual Severance Agreement
"I need a Mutual Severance Agreement for a senior executive in the banking sector in Qatar, including provisions for unvested stock options and extended medical benefits, with an effective termination date of March 1, 2025."
1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Brief history of employment relationship, reason for separation, and mutual intent to terminate
3. Definitions: Key terms used throughout the agreement, including 'Termination Date', 'Final Settlement', etc.
4. Termination of Employment: Formal statement of employment termination, including last working day and immediate obligations
5. Final Settlement Amount: Comprehensive breakdown of all payments, including salary, end of service gratuity, and other entitlements
6. Payment Terms: Timing and method of settlement payment
7. Employee Benefits: Treatment of existing benefits, insurance coverage, and any continuation periods
8. Company Property: Requirements for return of company property and documentation
9. Confidentiality: Ongoing obligations regarding confidential information
10. Full and Final Settlement: Mutual release of claims and waiver of rights
11. Governing Law: Confirmation of Qatar law application and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Non-Compete Obligations: Include when there are post-employment restrictions on working for competitors
2. Continuing Cooperation: Used when employee's assistance may be needed for transition or future matters
3. Medical Insurance Extension: Include if providing extended medical coverage beyond termination
4. Reference Provision: Include when agreeing to provide specific references
5. Repatriation Benefits: For expatriate employees entitled to repatriation
6. Share Options/Awards: Include when employee has outstanding equity-based compensation
7. Legal Fees: Include if employer is contributing to employee's legal costs
8. Tax Indemnity: Include for international employees with complex tax situations
1. Schedule 1 - Payment Calculation: Detailed breakdown of all payment components including basic salary, notice pay, and end of service benefits
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Benefits Summary: Details of benefit termination dates and any continued coverage
4. Schedule 4 - Outstanding Share Awards: Details of any share options or awards and their treatment
5. Appendix A - Release Form: Standard form of release in Arabic and English
6. Appendix B - Certificate of Service: Draft certificate of service as required by Qatar Labor Law
Authors
Banking & Financial Services
Oil & Gas
Construction & Real Estate
Technology
Professional Services
Healthcare
Education
Retail & Hospitality
Manufacturing
Telecommunications
Aviation & Transportation
Energy & Utilities
Human Resources
Legal
Finance
Executive Management
Compliance
Payroll
Employee Relations
Risk Management
Operations
Chief Executive Officer
Chief Financial Officer
Managing Director
General Manager
Department Head
Senior Manager
Project Manager
Technical Specialist
Senior Engineer
Finance Manager
Sales Director
Operations Manager
HR Manager
Legal Counsel
Account Manager
Regional Manager
Program Director
Business Development Manager
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