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Termination Agreement

Termination Agreement Template for New Zealand

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Key Requirements PROMPT example:

Termination Agreement

"I need a Termination Agreement for a senior software developer who is leaving by mutual agreement on March 15, 2025, with ongoing confidentiality obligations and a 6-month non-compete clause for the Auckland region."

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Document background
The Termination Agreement is a crucial legal document used in New Zealand when an employer and employee mutually agree to end their employment relationship. It serves as a comprehensive record of the termination terms, protecting both parties' interests and ensuring compliance with New Zealand employment law. This document is typically used in situations of mutual separation, redundancy, or negotiated exits, and includes essential details such as termination date, final payments, ongoing obligations, and mutual releases. The agreement helps prevent future disputes by clearly documenting all aspects of the separation and ensures all legal requirements under New Zealand legislation are met, including obligations under the Employment Relations Act 2000 and related employment laws.
Suggested Sections

1. Parties: Identifies and defines the employer and employee who are parties to the agreement

2. Background: Outlines the context of the employment relationship and the circumstances leading to termination

3. Definitions: Defines key terms used throughout the agreement

4. Termination Date: Specifies the official end date of employment and last working day if different

5. Final Payment: Details the breakdown of final payment including salary, holiday pay, and other entitlements

6. Company Property: Lists company property to be returned and deadline for return

7. Confidentiality: Confirms ongoing obligations regarding confidential information

8. Non-Disparagement: Mutual obligations not to make disparaging remarks about each other

9. Release and Waiver: Mutual release of claims and waiver of rights to future claims

10. Tax: Clarifies tax treatment of payments and responsibilities

11. Governing Law: Specifies New Zealand law as governing law and jurisdiction

12. Execution: Signature blocks and execution details

Optional Sections

1. Post-Employment Restrictions: Include when existing restraint of trade or non-compete obligations need to be addressed or modified

2. References: Include when parties agree on the content and format of future employment references

3. Ongoing Cooperation: Include when employee's assistance may be needed for transition or future matters

4. Insurance and Benefits: Include when addressing continuation or termination of insurance coverage or other benefits

5. Intellectual Property: Include when specific IP rights need to be addressed or transferred

6. Legal Advice: Include when confirming that parties have had opportunity to seek independent legal advice

7. Outplacement Support: Include when employer is providing career transition or outplacement services

8. Garden Leave: Include when employee will be on garden leave before final termination date

Suggested Schedules

1. Schedule 1 - Final Payment Calculation: Detailed breakdown of all final payments including holiday pay, outstanding wages, and any special payments

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

3. Schedule 3 - Continuing Obligations: Details of any ongoing obligations from the employment agreement that survive termination

4. Appendix A - Reference Letter: Agreed form of reference letter if applicable

5. Appendix B - Handover Plan: Detailed plan for handover of responsibilities if applicable

Authors

Alex Denne

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

alex.den.21@genieai.co
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Relevant Industries

Technology

Financial Services

Healthcare

Manufacturing

Retail

Professional Services

Education

Construction

Hospitality

Transportation

Energy

Agriculture

Mining

Telecommunications

Media and Entertainment

Public Sector

Non-Profit

Relevant Teams

Human Resources

Legal

People Operations

Employee Relations

Compliance

Senior Management

Administration

Corporate Services

Risk Management

Relevant Roles

HR Manager

HR Director

Legal Counsel

Employment Lawyer

HR Business Partner

Chief Human Resources Officer

People Operations Manager

Employee Relations Manager

HR Coordinator

Compliance Officer

General Manager

Department Manager

Chief Executive Officer

Managing Director

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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