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Severance Agreement Release Of Claims
"I need a Severance Agreement Release Of Claims for our Dubai-based Chief Technology Officer who is leaving with significant unvested stock options and ongoing projects, requiring extended post-termination cooperation and strict non-compete provisions for 12 months."
1. Parties: Identification of the employer and employee, including full legal names and relevant details
2. Background: Brief history of employment relationship, reason for separation, and context for the agreement
3. Definitions: Key terms used throughout the agreement, including 'Effective Date', 'Separation Date', 'Released Claims', etc.
4. Termination of Employment: Formal statement of employment termination, including last working day and final responsibilities
5. Severance Payment: Details of severance payment, calculation method, payment timing, and tax implications
6. End of Service Benefits: Calculation and payment of statutory end of service gratuity under UAE Labor Law
7. Release of Claims: Comprehensive release of legal claims by employee against employer and related entities
8. Company Property: Requirements for return of company property and confidential information
9. Confidentiality: Obligations regarding confidentiality of agreement terms and company information
10. Non-Disparagement: Mutual obligations to refrain from making negative statements
11. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant courts for disputes
12. General Provisions: Standard clauses including entire agreement, amendments, and severability
1. Non-Competition and Non-Solicitation: Post-employment restrictions, used when protecting business interests is crucial
2. Reference and Communications: Terms regarding employment references and internal/external communications about departure
3. Continuing Benefits: Any benefits extending beyond termination date, such as health insurance
4. Cooperation: Terms for post-employment assistance with transitions or legal matters
5. Immigration Status: Provisions regarding visa status and obligations, required for expatriate employees
6. Equity/Share Options: Treatment of any outstanding equity or share options, if applicable
7. Reaffirmation: Provision for employee to reaffirm release at time of payment receipt
8. Legal Fees: Provisions regarding payment of legal fees for agreement review
1. Schedule A - Payment Calculation: Detailed breakdown of severance payment and statutory benefits calculation
2. Schedule B - Company Property Checklist: List of company property to be returned
3. Schedule C - Benefits Summary: Summary of benefits and their treatment post-termination
4. Appendix 1 - Release of Claims Detail: Comprehensive list of types of claims being released
5. Appendix 2 - Continuing Obligations: Detailed list of obligations that survive termination
6. Appendix 3 - Certificate of Service: Draft certificate of service as required under UAE Labor Law
Authors
Affiliate
Business Day
Claims
Company
Confidential Information
Effective Date
Employee
End of Service Benefits
Final Settlement
Governing Law
Group Companies
Notice Period
Parties
Release
Released Claims
Released Parties
Remaining Salary
Separation Date
Severance Payment
Termination Date
UAE
Company Property
Continuing Obligations
Final Salary
Gratuity
Intellectual Property Rights
Non-Compete Obligations
Outstanding Benefits
Payment Date
Restrictive Covenants
Settlement Sum
Statutory Entitlements
Terminal Benefits
Waiver
Termination of Employment
Final Settlement
Payment Terms
Release of Claims
Confidentiality
Non-Disparagement
Return of Property
Post-Employment Restrictions
Non-Competition
Non-Solicitation
Intellectual Property
Continuing Obligations
References
Tax Indemnity
Immigration Status
General Release
Representations and Warranties
Cooperation
Legal Fees
Governing Law
Jurisdiction
Assignment
Severability
Amendment
Waiver
Notices
Third Party Rights
Entire Agreement
Counterparts
Language
Electronic Execution
Data Protection
Acknowledgment
Banking and Financial Services
Technology
Oil and Gas
Real Estate and Construction
Healthcare
Retail and Consumer Goods
Professional Services
Manufacturing
Telecommunications
Education
Hospitality and Tourism
Media and Entertainment
Maritime and Logistics
Free Zone Companies
Human Resources
Legal
Finance
Executive Leadership
Operations
Administration
Compliance
Risk Management
Corporate Secretariat
Employee Relations
Chief Executive Officer
Managing Director
Department Head
Senior Manager
Regional Manager
Project Manager
Senior Executive
Financial Controller
Sales Director
Operations Manager
Technical Lead
Senior Engineer
Account Manager
Marketing Manager
HR Manager
Legal Counsel
Department Supervisor
Branch Manager
Administrative Officer
Executive Assistant
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