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Mutual Agreement To Terminate Employment

Mutual Agreement To Terminate Employment Template for New Zealand

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Key Requirements PROMPT example:

Mutual Agreement To Terminate Employment

"I need a Mutual Agreement to Terminate Employment for a senior executive position that includes garden leave provisions from January 15, 2025, an extended notice period, ongoing consultancy arrangements, and special provisions for share options."

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Document background
The Mutual Agreement to Terminate Employment is utilized in New Zealand when both employer and employee voluntarily agree to end their employment relationship. This document is particularly useful in situations where a clean break is desired, or when restructuring, career changes, or other amicable separations occur. It encompasses crucial elements required under New Zealand law, including final payment calculations, leave entitlements, and mutual releases, while ensuring compliance with the Employment Relations Act 2000 and related legislation. The agreement helps prevent future disputes by clearly documenting the termination terms, protecting both parties' interests, and providing certainty regarding ongoing obligations and entitlements. It's commonly used across various industries and organization sizes throughout New Zealand, offering a structured approach to employment termination that maintains professionalism and legal compliance.
Suggested Sections

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

2. Background: Outlines the current employment relationship and mutual decision to terminate

3. Definitions: Defines key terms used throughout the agreement

4. Termination Date: Specifies the agreed final day of employment

5. Final Payment: Details the calculation and components of the final payment including salary, leave entitlements, and any special payments

6. Tax Treatment: Specifies how various payments will be treated for tax purposes

7. Mutual Release: Both parties agree to release each other from claims relating to the employment

8. Confidentiality: Ongoing obligations regarding confidential information

9. Return of Property: Requirements for returning company property

10. References: Agreement on the nature and content of employment references

11. Execution: Signing provisions and declaration of voluntary agreement

Optional Sections

1. Garden Leave: Used when there is a period between agreement signing and final day where employee remains employed but not required to work

2. Post-Employment Restrictions: Include when existing or new restrictive covenants are to be enforced post-termination

3. Ongoing Cooperation: Used when employee's assistance may be needed for handover or future queries

4. Special Benefits Continuation: Include when certain employment benefits will continue beyond termination

5. Legal Advice: Section acknowledging independent legal advice when significant payments or rights are involved

6. Announcement: Include when parties agree on how the departure will be communicated

7. Intellectual Property: Used when specific IP arrangements need to be addressed

Suggested Schedules

1. Schedule 1: Final Payment Calculation: Detailed breakdown of all final payment components including salary, leave, and any special payments

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

3. Schedule 3: Continuing Obligations: Details of any ongoing obligations from the original employment agreement that survive termination

4. Appendix A: Reference Template: Agreed format and content of employment reference if applicable

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

Financial Services

Technology

Healthcare

Manufacturing

Retail

Professional Services

Education

Construction

Hospitality

Public Sector

Non-Profit

Telecommunications

Mining and Resources

Agriculture

Transportation and Logistics

Relevant Teams

Human Resources

Legal

Compliance

Executive Leadership

People Operations

Employee Relations

Payroll

Administration

Relevant Roles

Chief Executive Officer

Human Resources Director

HR Manager

Legal Counsel

Department Manager

Team Leader

Senior Executive

Operations Manager

Finance Director

Project Manager

General Manager

Department Head

Employee Relations Manager

HR Business Partner

Compliance Officer

Senior Manager

Line 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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