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Severance Pay Non Compete Agreement

Severance Pay Non Compete Agreement Template for Netherlands

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Key Requirements PROMPT example:

Severance Pay Non Compete Agreement

"I need a Severance Pay Non Compete Agreement for a departing Chief Technology Officer in the software industry, with a 12-month non-compete period and severance payment to be made in installments starting March 2025, ensuring protection of our AI development projects and client relationships."

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Document background
The Severance Pay Non Compete Agreement is a crucial document used in the Netherlands when terminating employment relationships, particularly for positions with access to sensitive business information or significant client relationships. This agreement type combines two essential elements: compensation for employment termination and protection of business interests through post-employment restrictions. It must comply with Dutch employment law, including the Dutch Civil Code and Work and Security Act, which set specific requirements for both severance calculations and non-compete provisions. The document is typically used during negotiated exits or redundancy situations where the employer seeks to protect its business interests while ensuring fair compensation for the departing employee. The agreement includes detailed provisions on payment terms, restricted activities, geographical limitations, and duration of restrictions, all structured to meet Dutch legal requirements for enforceability.
Suggested Sections

1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant registration numbers

2. Background: Context of the agreement, including reference to the termination of employment and mutual desire to establish post-employment obligations

3. Definitions: Key terms used throughout the agreement, including 'Restricted Period', 'Territory', 'Competitive Activities', 'Confidential Information', and 'Severance Payment'

4. Termination of Employment: Confirmation of employment termination date and general terms of separation

5. Severance Payment: Details of the severance amount, calculation method, payment schedule, and conditions for payment

6. Non-Compete Obligations: Specific restrictions on competitive activities, including scope, duration, and geographical limitations

7. Non-Solicitation: Restrictions on soliciting employees, customers, or business relations

8. Confidentiality: Obligations regarding confidential information and trade secrets

9. Consideration: Explicit acknowledgment that the severance payment serves as consideration for the non-compete obligations

10. Enforcement and Remedies: Consequences of breach and available remedies

11. General Provisions: Standard clauses including governing law, jurisdiction, amendment procedures, and severability

Optional Sections

1. Garden Leave: Applicable if the employee is required to serve a garden leave period before the termination date

2. Company Property: Required if there are specific company assets or materials to be returned

3. Intellectual Property Rights: Necessary when the employee has been involved in creating IP during employment

4. References and Announcements: Include when parties agree on specific terms for employment references and public announcements

5. Continuing Obligations: Required when specific obligations from the employment contract continue post-termination

6. Tax Indemnity: Include when specific tax arrangements or indemnities are necessary

7. Legal Advice: Acknowledgment of independent legal advice, particularly important for enforceability in Dutch courts

Suggested Schedules

1. Schedule 1 - Severance Payment Calculation: Detailed breakdown of severance payment calculation according to Dutch statutory requirements

2. Schedule 2 - Restricted Territory: Specific geographical areas covered by the non-compete restriction, including maps if necessary

3. Schedule 3 - Competitive Activities: Detailed list of prohibited activities and competing businesses

4. Schedule 4 - Company Customers and Business Relations: List of specific customers and business relations covered by non-solicitation provisions

5. Appendix A - Acknowledgment Form: Form for employee to acknowledge receipt of severance payment and acceptance of restrictions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 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

Technology

Financial Services

Professional Services

Manufacturing

Pharmaceuticals

Telecommunications

Management Consulting

Software Development

Healthcare

Retail (senior management)

Energy

Media and Entertainment

Relevant Teams

Human Resources

Legal

Finance

Executive Leadership

Sales

Business Development

Research & Development

Information Technology

Operations

Product Development

Customer Relations

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Sales Director

Technical Director

Senior Manager

Department Head

Account Manager

Senior Software Engineer

Product Manager

Business Development Manager

Regional Manager

Research Director

Senior Consultant

Technical Lead

Operations 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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