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Settlement Agreement Contract for Ireland

Settlement Agreement Contract Template for Ireland

A Settlement Agreement Contract under Irish law is a legally binding document used to formally conclude an employment relationship and resolve any potential disputes between an employer and employee. This agreement, governed by Irish employment law, provides a comprehensive framework for settling all claims and establishing clear terms for the termination of employment. It includes provisions for financial settlement, confidentiality obligations, and mutual releases, while ensuring compliance with Irish statutory requirements, particularly regarding independent legal advice and the protection of employee rights.

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What is a Settlement Agreement Contract?

A Settlement Agreement Contract is a crucial legal document used in Ireland when an employer and employee agree to terminate their employment relationship on mutually agreed terms. This document is particularly relevant in situations involving redundancy, workplace disputes, or voluntary departure arrangements. The agreement must comply with Irish employment law requirements, including the necessity for employees to receive independent legal advice. It typically contains detailed provisions regarding financial settlements, tax treatment, confidentiality obligations, and waivers of claims. The Settlement Agreement Contract serves to provide legal certainty to both parties by preventing future claims and establishing clear terms for the conclusion of the employment relationship. Its use is regulated by various Irish employment statutes, including the Employment Equality Acts and the Unfair Dismissals Acts.

What sections should be included in a Settlement Agreement Contract?

1. Parties: Identification of the parties to the agreement, including full legal names and addresses

2. Background: Recitals explaining the context of the settlement, employment relationship, and dispute

3. Definitions: Definitions of key terms used throughout the agreement

4. Termination Date: Specific provisions regarding the termination of employment and final working day

5. Settlement Payments: Detailed breakdown of settlement sum, payment terms, and tax treatment

6. Tax Indemnity: Employee's indemnity regarding tax treatment of payments

7. Waiver of Claims: Comprehensive waiver of employment-related claims under Irish law

8. Company Property: Requirements for return of company property and intellectual property rights

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

10. Reference: Terms regarding the provision of employment references

11. Non-Disparagement: Mutual obligations not to make derogatory statements

12. Warranties: Employee warranties regarding claims and circumstances

13. General: Standard boilerplate provisions including governing law

14. Execution: Signature blocks and execution formalities

What sections are optional to include in a Settlement Agreement Contract?

1. Post-Termination Restrictions: Restatement or modification of existing restrictive covenants, used when employment contract contains restrictions

2. Legal Costs: Provisions regarding payment of legal fees, used when employer is contributing to employee's legal costs

3. Pension Arrangements: Details of pension-related settlements, used when pension benefits are part of settlement

4. Share Options/Awards: Treatment of existing share schemes, used when employee participates in share schemes

5. Garden Leave: Terms of garden leave period, used when employee will be placed on garden leave

6. Outplacement Support: Details of career transition services, used when outplacement support is offered

7. Medical Insurance: Provisions for continued medical coverage, used when extending medical benefits

8. Re-engagement: Terms preventing future employment, used when parties wish to prevent future re-employment

What schedules should be included in a Settlement Agreement Contract?

1. Schedule 1: Settlement Payment Breakdown: Detailed itemization of settlement payments and tax treatment

2. Schedule 2: Claims Being Settled: Comprehensive list of statutory and common law claims being waived

3. Schedule 3: Resignation Letter: Form of resignation letter to be signed by employee

4. Schedule 4: Agreed Reference: Agreed form of employment reference

5. Schedule 5: Company Property List: Itemized list of company property to be returned

6. Appendix A: Legal Advice Certificate: Independent legal adviser's certificate confirming advice given

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

Ireland

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions






























Clauses

























Relevant Industries

Financial Services

Technology

Manufacturing

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Healthcare

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Human Resources

Legal

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Executive Leadership

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Chief Executive Officer

Chief Financial Officer

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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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