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Severance Agreement And General Release for Australia

Severance Agreement And General Release Template for Australia

An Australian-law governed agreement that formalizes the termination of employment between an employer and employee, detailing severance payments, benefits, and mutual obligations post-employment. The document includes comprehensive release provisions that comply with Australian employment law, including the Fair Work Act 2009, and addresses various statutory entitlements, tax implications, and continuing obligations. It serves as a legally binding document that provides clarity and certainty for both parties regarding the termination arrangements and helps prevent future disputes by documenting all agreed terms and conditions of the separation.

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What is a Severance Agreement And General Release?

A Severance Agreement And General Release is a crucial document in Australian employment law, typically used when an employment relationship is terminated through redundancy, mutual agreement, or as part of dispute resolution. The agreement serves multiple purposes: it documents the financial terms of the separation, ensures compliance with statutory obligations, provides legal protection through mutual releases, and establishes clear post-employment obligations. This document is essential for risk management and provides certainty for both parties, particularly in complex terminations or when significant severance payments are involved. The agreement must comply with Australian employment legislation, including the Fair Work Act 2009, various discrimination laws, and relevant state-based employment regulations.

What sections should be included in a Severance Agreement And General Release?

1. Parties: Identification of the employer and employee parties to the agreement

2. Background: Context of the employment relationship and reason for termination

3. Definitions: Key terms used throughout the agreement

4. Termination Date: Specific date and circumstances of employment termination

5. Severance Payment: Details of the severance amount, payment method, and timing

6. Statutory Entitlements: Confirmation of payment of all statutory entitlements including annual leave, long service leave, and notice period

7. Tax Treatment: Specification of how payments will be treated for tax purposes

8. General Release: Comprehensive release of claims by the employee against the employer

9. Confidentiality: Obligations regarding confidentiality of the agreement and company information

10. Non-Disparagement: Mutual obligations not to make negative statements about each other

11. Return of Company Property: Requirements and timeline for returning all company property

12. References: Agreement on the provision of employment references

13. Continuing Obligations: Survival of relevant employment agreement obligations

14. Governing Law: Specification of governing law and jurisdiction

15. Execution: Signature blocks and execution requirements

What sections are optional to include in a Severance Agreement And General Release?

1. Non-Competition: Restrictions on working for competitors, used for senior executives or when existing restraints need modification

2. Non-Solicitation: Restrictions on soliciting employees or customers, used when there's significant client/employee relationship risk

3. Intellectual Property: Additional IP provisions, used when the employee was involved in creating IP

4. Equity/Share Rights: Treatment of existing share rights or options, used when employee has equity participation

5. Outplacement Services: Provision of career transition services, used in larger severance packages

6. Legal Advice: Acknowledgment of independent legal advice, used in complex agreements or with senior executives

7. Media Communications: Agreed approach to external communications, used for senior executives or public-facing roles

8. Future Cooperation: Obligations to assist with transitions or future legal matters, used when ongoing cooperation might be needed

9. Benefits Continuation: Extension of certain employment benefits, used in more generous severance packages

10. Mutual Release: Where employer also releases claims against employee, used in complex separations

What schedules should be included in a Severance Agreement And General Release?

1. Schedule 1 - Payment Details: Detailed breakdown of all payment components including statutory entitlements, ex-gratia payments, and timing

2. Schedule 2 - Company Property: Itemized list of company property to be returned

3. Schedule 3 - Continuing Obligations: Specific obligations from employment agreement that survive termination

4. Schedule 4 - Agreed Reference: Form of agreed employment reference

5. Appendix A - Deed of Release: Formal deed of release if separate from main agreement

6. Appendix B - Certificate of Independent Legal Advice: Form for legal advisor to certify advice given to employee

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Ƶ

Document Type

Release Agreement

Cost

Free to use
Relevant legal definitions


























Clauses

























Relevant Industries

Financial Services

Technology

Manufacturing

Professional Services

Retail

Healthcare

Mining

Construction

Education

Telecommunications

Media

Real Estate

Hospitality

Transportation

Energy

Relevant Teams

Human Resources

Legal

Finance

Operations

Sales

Marketing

Information Technology

Research and Development

Manufacturing

Customer Service

Administration

Executive Leadership

Project Management Office

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Senior Manager

Department Manager

Project Manager

Sales Representative

Software Developer

Administrative Assistant

Operations Manager

Human Resources Manager

Marketing Director

Account Executive

Technical Specialist

Research Scientist

Regional Manager

Factory Worker

Customer Service Representative

Business Analyst

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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