Severance Release Agreement Template for Netherlands

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Key Requirements PROMPT example:

Severance Release Agreement

"I need a Severance Release Agreement under Dutch law for our departing Chief Technology Officer, including provisions for stock options, retention of company devices until March 2025, and continued health benefits, with specific non-compete restrictions for the Benelux region."

Document background

The Severance Release Agreement is a crucial document used in the Netherlands when terminating an employment relationship by mutual consent. It is typically implemented when parties agree to end the employment relationship amicably, often as part of a larger restructuring, individual termination, or voluntary separation program. The agreement must comply with Dutch employment law requirements, including proper calculation of the statutory transition payment (transitievergoeding) and consideration of applicable notice periods. This document serves multiple purposes: it provides legal certainty regarding the termination terms, protects both parties from future claims, ensures proper payment of severance and outstanding benefits, and addresses confidentiality and post-employment obligations. The agreement is particularly important in the Dutch context due to the strict employment protection regulations and the need for clear documentation of mutually agreed termination terms.

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 reason for termination

3. Definitions: Key terms used throughout the agreement

4. Termination Date: Specific date of employment termination and final working day

5. Severance Payment: Details of the severance amount, calculation method, payment date, and tax treatment

6. Final Settlement: Settlement of outstanding salary, vacation days, expenses, and other employment-related benefits

7. Release of Claims: Mutual release of claims between parties, specifying which claims are covered and excluded

8. Confidentiality: Obligations regarding confidential information and trade secrets

9. Return of Company Property: Requirements and timeline for returning company assets and documents

10. Reference and Communications: Agreement on employment references and internal/external communications about the departure

11. Tax Implications: Statement on tax responsibilities and implications of the severance payment

12. Governing Law: Specification of Dutch law as governing law and jurisdiction

13. Signatures: Execution section with date and signature blocks for both parties

Optional Sections

1. Non-Competition and Non-Solicitation: Post-employment restrictions, if applicable and agreed upon

2. Ongoing Cooperation: Terms for employee assistance in transitioning responsibilities or future legal matters

3. Insurance Continuation: Details about post-employment insurance coverage, if provided

4. Equity/Stock Options: Treatment of any outstanding equity or stock options

5. Pension Arrangements: Special provisions regarding pension benefits or contributions

6. Legal Counsel: Acknowledgment that parties had opportunity to seek legal advice

7. Outplacement Support: Details of any career transition services provided

8. Medical Insurance Bridge: Provisions for continued medical coverage if applicable

9. International Considerations: Special provisions for international employees or cross-border implications

Suggested Schedules

1. Schedule A - Calculation of Severance: Detailed breakdown of severance calculation including statutory transition payment

2. Schedule B - Outstanding Benefits: Itemized list of accrued benefits, vacation days, and other entitlements

3. Schedule C - Company Property: Comprehensive list of company property to be returned

4. Schedule D - Release Details: Specific claims included and excluded from the release

5. Schedule E - Reference Letter: Agreed form of employment reference letter

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

Financial Services

Manufacturing

Professional Services

Healthcare

Retail

Telecommunications

Energy

Construction

Education

Logistics

Media and Entertainment

Pharmaceuticals

Real Estate

Consulting

Relevant Teams

Human Resources

Legal

Finance

Executive Leadership

Operations

Information Technology

Sales

Marketing

Research & Development

Administration

Customer Service

Product Development

Engineering

Corporate Communications

Compliance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Managing Director

Senior Manager

Department Head

Project Manager

Senior Engineer

Account Manager

HR Manager

Financial Controller

Operations Director

Sales Executive

Technical Specialist

Marketing Manager

Research Scientist

Legal Counsel

Business Analyst

Product Manager

Software Developer

Administrative Officer

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Release Of Liability Employment Termination

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Let's create your Severance Release Agreement

Authors

Alex Denne

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