Payment In Lieu Of Notice To Terminate With Immediate Effect (Clause For Employment Contact)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🖍️ Employment agreementBusiness activity
Hire an employeeAn employment agreement is a contract between an employer and employee that sets forth the rights and responsibilities of each party. It can cover such topics as wages, hours, job duties, and other terms and conditions of employment. The agreement can also include a clause specifying that the employee will not compete with the employer after leaving the job.
In certain circumstances, employers may need to terminate an employment contract with immediate effect, bypassing the notice period that is typically required. These circumstances may include gross misconduct, serious breach of contract, or other significant reasons justifying an immediate termination.
This legal template serves as a pre-drafted clause to be included in an employment contract. It aims to provide a clear understanding and agreement between the employer and employee regarding the payment the employee is entitled to receive instead of serving the notice period.
The template specifically addresses the financial aspect of the immediate termination, offering guidance on the amount and method of payment in lieu of notice. It may outline whether the payment will include a full or partial salary, any accrued but untaken holidays, bonuses, benefits, or pensions that the employee would have received during the notice period.
While this template is designed to comply with UK employment laws, it is essential for both employers and employees to seek legal advice and ensure the clause aligns with the specific circumstances and requirements of their situation.
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