Severance Release Agreement Template for Germany

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Key Requirements PROMPT example:

Severance Release Agreement

"I need a Severance Release Agreement for a senior software developer in our Munich office who will be leaving due to restructuring, with a planned termination date of March 1, 2025, including provisions for unvested stock options and continued health benefits for 3 months."

Document background

The Severance Release Agreement is a crucial document used in German employment relationships when an employer and employee agree to terminate the employment relationship by mutual consent. It serves as a comprehensive settlement document that outlines the terms of separation, including severance payment, final settlements, and mutual releases. This document is particularly important in the German legal context due to the strong employment protection laws and the need for clear documentation of mutual agreements. The agreement helps prevent future disputes by clearly defining all aspects of the separation, from financial settlements to ongoing obligations. It must comply with various German labor laws, including the Kündigungsschutzgesetz and Betriebsverfassungsgesetz, and often requires careful consideration of tax implications and works council involvement.

Suggested Sections

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

2. Background: Context of the employment relationship, including start date, position, and circumstances leading to the separation

3. Definitions: Key terms used throughout the agreement

4. Termination of Employment: Specific details about the termination date and method (mutual agreement or notice)

5. Severance Payment: Amount, calculation basis, payment date, and tax treatment of the severance payment

6. Release of Claims: Mutual releases and waivers of claims, specifically tailored to German law requirements

7. Confidentiality: Obligations regarding confidential information and trade secrets

8. Return of Company Property: Requirements and timeline for returning company property

9. Reference Letter: Agreement regarding the content and issuance of the final reference letter (Arbeitszeugnis)

10. Final Payments: Treatment of salary, bonuses, vacation pay, and other outstanding payments

11. Tax and Social Security: Implications and responsibilities regarding tax and social security contributions

12. Governing Law: Confirmation of German law application and jurisdiction

13. Severability: Standard clause ensuring partial invalidity doesn't void entire agreement

Optional Sections

1. Post-Contractual Non-Compete: Include when there is an existing non-compete agreement that needs to be addressed

2. Company Car/Benefits: Include when dealing with company car return or continuation of specific benefits

3. Stock Options/Share Programs: Include when employee participates in equity compensation programs

4. Works Council Approval: Include when works council involvement is required

5. Garden Leave: Include when employee will be released from work duties before termination date

6. Ongoing Cooperation: Include when employee's assistance may be needed for transition or future matters

7. Pension Arrangements: Include when dealing with company pension schemes or deferred compensation

8. International Aspects: Include for employees with international responsibilities or cross-border implications

Suggested Schedules

1. Calculation of Severance Payment: Detailed breakdown of severance calculation including factors considered

2. Inventory of Company Property: List of items to be returned to the employer

3. Outstanding Vacation Days Calculation: Calculation of remaining vacation days and corresponding compensation

4. Benefits Summary: Summary of benefits and their treatment post-termination

5. Form of Reference Letter: Draft or agreed form of the final reference letter

6. Tax Calculation: Estimated tax implications of the severance payment

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 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

Manufacturing

Financial Services

Healthcare

Retail

Professional Services

Telecommunications

Energy

Automotive

Construction

Education

Media and Entertainment

Logistics

Pharmaceutical

Consumer Goods

Real Estate

Relevant Teams

Human Resources

Legal

Finance

Executive Leadership

Operations

Information Technology

Sales

Marketing

Research and Development

Administration

Customer Service

Production

Quality Assurance

Business Development

Procurement

Relevant Roles

Chief Executive Officer

Managing Director

Department Head

Senior Manager

Project Manager

Software Developer

Sales Representative

Account Manager

Financial Controller

HR Manager

Marketing Manager

Operations Manager

Research Scientist

Business Analyst

Technical Lead

Production Supervisor

Administrative Assistant

Customer Service Representative

Regional Manager

Product Manager

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Let's create your Severance Release Agreement

Authors

Alex Denne

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