Document background
The Executive Separation Agreement is a crucial document used when terminating the employment relationship with senior executives in Ireland. It is typically implemented in situations involving mutual agreement to separate, redundancy, or other negotiated departures. The agreement serves multiple purposes: it documents the full terms of the separation package, protects the company's interests through confidentiality and restrictive covenant provisions, provides the executive with clarity on their entitlements and obligations, and creates a legally binding settlement of potential claims. Key components include financial terms, treatment of equity compensation, ongoing obligations, and various legal protections for both parties. The document must comply with Irish employment law requirements and often involves review by independent legal counsel to ensure enforceability.
