Separation And Release Agreement

Separation And Release Agreement Template for New Zealand

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Key Requirements PROMPT example:

"I need a Separation and Release Agreement for a senior marketing executive leaving due to redundancy, with a 3-month notice period starting March 1, 2025, including garden leave provisions and post-employment restrictions for 12 months."

Document background

The Separation and Release Agreement is a crucial document used in New Zealand employment law contexts when an employment relationship is being terminated by mutual agreement or as part of a negotiated exit. It is particularly relevant in situations involving redundancy, mutual separation, or the resolution of employment disputes. The agreement serves multiple purposes: it documents the terms of separation, includes financial settlements and statutory entitlements, addresses ongoing obligations like confidentiality and non-disparagement, and provides legal protection for both parties through mutual releases. This document must comply with New Zealand's Employment Relations Act 2000 and related employment legislation, requiring careful consideration of statutory requirements and common law principles. It's essential to ensure the agreement is fair, reasonable, and that both parties have the opportunity to seek independent legal advice before signing.

Suggested Sections

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

2. Background: Outlines the employment relationship, reason for separation, and context for the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Termination Date: Specifies the official end date of employment and final working day

5. Settlement Payment: Details the financial settlement amount, payment timing, and tax treatment

6. Statutory Entitlements: Lists all statutory payments including holiday pay, long service leave, and other entitlements

7. Company Property: Requirements for returning company property and equipment

8. Confidentiality: Ongoing obligations regarding confidential information

9. Non-Disparagement: Mutual obligations to refrain from making negative statements

10. Release and Waiver: Mutual release of claims and legal rights

11. Continuing Obligations: Surviving terms from employment agreement that remain in effect

12. Tax Indemnity: Employee's responsibility for tax obligations on settlement payments

13. Legal Advice: Acknowledgment of opportunity to seek independent legal advice

14. Governing Law: Confirms New Zealand law governs the agreement

15. Execution: Signing provisions and attestation requirements

Optional Sections

1. Garden Leave: Terms of paid leave during notice period, used when employee is not required to work

2. Reference: Terms regarding employment references and agreed wording, if applicable

3. Post-Employment Restrictions: Non-compete and non-solicitation provisions, if required and reasonable

4. Outplacement Support: Details of any career transition services provided

5. Share Options/Benefits: Treatment of existing share schemes or long-term benefits

6. Medical Insurance: Continuation or termination of health insurance benefits

7. Announcement: Agreed internal and external communications about the departure

8. Handover: Requirements for knowledge transfer and work handover

9. Future Cooperation: Terms for assistance with future inquiries or legal proceedings

10. Resignation from Directorships: Process for resigning from any corporate positions, if applicable

Suggested Schedules

1. Schedule 1 - Settlement Payment Breakdown: Detailed calculation of all payment components including base entitlements and ex-gratia payments

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

3. Schedule 3 - Continuing Obligations: Specific clauses from employment agreement that survive termination

4. Schedule 4 - Reference Letter: Agreed form of written reference, if applicable

5. Appendix A - Legal Advice Certificate: Independent legal adviser's certification of providing advice

6. Appendix B - Resignation Letter: Template or copy of formal resignation letter

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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

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