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Voluntary Termination Of Employment Agreement

Voluntary Termination Of Employment Agreement Template for England and Wales

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Key Requirements PROMPT example:

Voluntary Termination Of Employment Agreement

"I need a Voluntary Termination Of Employment Agreement for a senior software developer who is leaving amicably to join a non-competing company, with a termination date of March 15, 2025, including standard confidentiality provisions but without restrictive covenants."

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Document background
The Voluntary Termination Of Employment Agreement is used when both employer and employee agree to end their employment relationship amicably. This document, governed by English and Welsh law, is particularly important for ensuring clear documentation of separation terms and protecting both parties' interests. It typically includes details about final payments, benefit arrangements, confidentiality obligations, and the waiver of potential claims. The agreement helps prevent future disputes by clearly outlining all termination conditions and ensuring compliance with UK employment legislation.
Suggested Sections

1. Parties: Identification of employer and employee with full legal names and addresses

2. Background: Brief context of employment relationship and mutual agreement to terminate

3. Definitions: Key terms used throughout the agreement including Termination Date, Confidential Information, etc.

4. Termination Date: Specification of the last day of employment and agreement on notice period

5. Payments: Details of final salary, benefits, termination payments and timing of such payments

6. Tax Indemnity: Employee's responsibility for tax on payments and employer's right to make deductions

7. Company Property: Obligation to return all company assets, equipment, and documents

8. Full and Final Settlement: Waiver of claims against employer and group companies

Optional Sections

1. Garden Leave: Terms of paid leave during notice period, including duties and restrictions

2. Post-termination Restrictions: Non-compete, non-solicitation, and confidentiality obligations after employment ends

3. Reference Provision: Terms regarding future employment references and agreed wording

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

Suggested Schedules

1. Schedule 1: Payment Calculation: Detailed breakdown of all payments including salary, benefits, and statutory entitlements

2. Schedule 2: Company Property List: Itemized list of company property to be returned by the termination date

3. Schedule 3: Certificate of Independent Legal Advice: Confirmation that employee has received independent legal advice on the agreement

4. Schedule 4: Agreed Form of Reference: Template of agreed employment reference if applicable

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Clauses
Termination Date
Final Payments
Tax Treatment
Company Property Return
Confidentiality
Full and Final Settlement
Waiver of Claims
Acknowledgment and Agreement
Governing Law
Entire Agreement
Severability
Third Party Rights
Garden Leave
Non-Competition
Non-Solicitation
Non-Dealing
Reference Provision
Continuing Obligations
Share Options
Benefits Continuation
Legal Costs
Outplacement Support
Announcement
Post-Termination Assistance
Intellectual Property
Data Protection
Variation
Bonus Payments
Commission Arrangements
Pension Provisions
Insurance Benefits
Stock Options
Restrictive Covenants
Relevant Industries
Relevant Teams
Relevant Roles
Industries

Employment Rights Act 1996: Primary legislation covering basic employment rights, statutory notice periods, final payment calculations, and continuity of employment provisions

Equality Act 2010: Ensures protection against discrimination and confirms that termination arrangements are not discriminatory in nature

Income Tax Act 2007 and Income Tax (Earnings and Pensions) Act 2003: Governs tax treatment of termination payments, including the tax-free threshold for termination payments (currently £30,000)

National Insurance Contributions Act 2014: Determines National Insurance Contribution implications on termination payments

Working Time Regulations 1998: Regulates accrued holiday pay calculations and holiday entitlement settlement

Protection of Employment Regulations 2006: Applicable if the termination is part of a larger redundancy situation

Common Law - Settlement Agreements: Legal principles governing settlement agreements and their enforceability

Common Law - Confidentiality: Legal principles regarding confidentiality obligations post-employment

Common Law - Post-termination Restrictions: Legal principles governing restrictive covenants and their enforceability after employment ends

Notice Period Requirements: Statutory and contractual requirements for notice periods and payment in lieu of notice

Payment Calculations Framework: Structure for calculating final payments including salary, bonuses, commissions, and other benefits

Benefits Termination Protocol: Guidelines for handling the termination of employment benefits, insurance, and other perks

Company Property Requirements: Procedures for the return of company property and equipment

Reference Provision Guidelines: Standards and requirements for providing future employment references

Full and Final Settlement Terms: Requirements for drafting comprehensive settlement terms that prevent future claims

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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