Termination Waiver Agreement Template for New Zealand

The Termination Waiver Agreement is a crucial document used in New Zealand employment contexts when parties wish to formally document the end of an employment relationship and establish clear terms for separation. This agreement type is particularly relevant when employers and employees want to achieve a clean break and minimize the risk of future disputes. It typically includes provisions for financial settlement, release of claims, and ongoing obligations, all while ensuring compliance with New Zealand employment law. The document is commonly used in both voluntary and involuntary termination scenarios, restructuring situations, or as part of settlement negotiations. Its primary purpose is to provide legal certainty and protection for both parties by clearly documenting the terms of separation and any rights being waived.

1. Parties: Identifies and defines all parties to the agreement, including full legal names and addresses

2. Background: Sets out the context of the agreement, including reference to the employment relationship and circumstances leading to termination

3. Definitions: Defines key terms used throughout the agreement

4. Termination Acknowledgment: Confirms the termination date and circumstances of the employment relationship

5. Waiver Provisions: Details the specific rights, claims, and entitlements being waived by the employee

6. Consideration: Specifies the payment or other consideration being provided in exchange for the waiver

7. Surviving Obligations: Outlines any obligations that continue after termination (e.g., confidentiality, intellectual property)

8. Release and Indemnity: Contains mutual releases and any indemnification provisions

9. Non-Admission: States that the agreement does not constitute an admission of liability by either party

10. Confidentiality: Sets out the confidentiality obligations regarding the agreement and its terms

11. Entire Agreement: Confirms this document represents the complete agreement between parties

12. Governing Law: Specifies that New Zealand law governs the agreement

13. Execution: Signature blocks and execution details