General Release Agreement Template for New Zealand

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Key Requirements PROMPT example:

General Release Agreement

"I need a General Release Agreement for the termination of a senior software developer's employment, scheduled for March 15, 2025, which includes confidentiality provisions and covers the return of company equipment and intellectual property."

Document background
A General Release Agreement is a crucial legal instrument used in New Zealand business and personal contexts to formally conclude disputes, settle claims, or end relationships between parties. This document is particularly valuable when parties wish to achieve a clean break and prevent future litigation or claims relating to past events or relationships. The agreement must comply with New Zealand contract law principles and relevant legislation, including the Contract and Commercial Law Act 2017 and the Limitation Act 2010. It typically includes detailed provisions about the scope of the release, consideration provided, and any ongoing obligations. The document is commonly used in employment separations, business disputes, personal injury settlements, and commercial relationship terminations.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including their legal names, addresses, and any relevant registration numbers

2. Background: Sets out the context and circumstances leading to the release agreement, including any relevant history of disputes or claims

3. Definitions: Defines key terms used throughout the agreement, including 'Claims', 'Released Matters', and other relevant terminology

4. Release and Discharge: The core section detailing the scope of the release, what claims are being released, and the effect of the release

5. Consideration: Specifies what is being given in exchange for the release (monetary or otherwise)

6. Acknowledgments: Statements from both parties acknowledging their understanding of the agreement and its implications

7. Warranties: Representations and warranties from both parties regarding their capacity to enter into the agreement and other relevant matters

8. Confidentiality: Provisions regarding the confidentiality of the agreement and its terms

9. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and severability

Optional Sections

1. Non-Disparagement: Optional clause preventing parties from making negative statements about each other, typically included in employment-related releases

2. Future Cooperation: Optional section outlining any ongoing obligations or cooperation required between the parties

3. Return of Property: Optional section dealing with the return of any physical or intellectual property, particularly relevant in employment or business relationship contexts

4. Tax Implications: Optional section addressing the tax treatment of any payments made under the agreement

5. Insurance Claims: Optional section dealing with any insurance-related matters or claims, particularly relevant if insurance companies are involved

6. Mutual Release: Optional section where both parties release each other (as opposed to a one-way release)

7. Deed Poll: Optional structure where the release is given by one party only, without requiring acceptance by the released party

Suggested Schedules

1. Schedule 1 - Released Claims: Detailed list or description of specific claims being released

2. Schedule 2 - Payment Terms: Details of any settlement payments, including amounts, timing, and payment methods

3. Schedule 3 - Excluded Claims: List of any specific claims or rights that are explicitly not released by the agreement

4. Appendix A - Related Entities: List of related entities or persons covered by the release

5. Appendix B - Form of Acknowledgment: Template for any required acknowledgments or certificates to be signed by the parties

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

Relevant Industries

Legal Services

Financial Services

Insurance

Healthcare

Construction

Manufacturing

Professional Services

Technology

Real Estate

Retail

Education

Mining and Resources

Transport and Logistics

Agriculture

Relevant Teams

Legal

Human Resources

Risk Management

Compliance

Executive Leadership

Finance

Operations

Contract Administration

Business Development

Project Management

Claims Administration

Relevant Roles

Legal Counsel

Human Resources Manager

Risk Manager

Compliance Officer

Chief Executive Officer

Chief Financial Officer

Operations Manager

Contract Administrator

Business Development Manager

Project Manager

Settlement Officer

Claims Manager

Employment Relations Specialist

Company Secretary

Industries
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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