Document background
A Termination Release Agreement is utilized when an employment relationship is being ended by mutual consent or as part of a negotiated exit. This document, governed by English and Welsh law, serves to protect both employer and employee by clearly defining the terms of separation, including financial settlements, continuing obligations, and the waiver of potential claims. The agreement must comply with specific statutory requirements, including the necessity for independent legal advice for the employee. The Termination Release Agreement typically includes provisions for payment terms, confidentiality obligations, post-termination restrictions, and the return of company property, while ensuring compliance with employment legislation and tax regulations.
