Document background
The Exit Agreement For Employees is a crucial document used in New Zealand employment relationships when formalizing the termination of employment, whether through mutual agreement, redundancy, or other circumstances. It serves as a legally binding document that protects both employer and employee interests by clearly stating all termination terms, including financial settlements, continuing obligations, and mutual releases. The agreement must comply with New Zealand's Employment Relations Act 2000, Privacy Act 2020, and other relevant legislation. It is typically used when employers want to ensure a clean break and minimize the risk of future disputes, or when providing enhanced termination benefits beyond statutory requirements. The document often requires independent legal advice for the employee to ensure fairness and enforceability under New Zealand law.
