Severance Release Agreement

Severance Release Agreement Template for Philippines

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Key Requirements PROMPT example:

"I need a Severance Release Agreement for a senior executive in our Manila office who is being terminated due to redundancy effective March 1, 2025, with a comprehensive non-compete clause and continued health benefits for 6 months."

Document background

The Severance Release Agreement is a crucial document used in the Philippines when formalizing the termination of employment relationships, whether through mutual agreement, redundancy, or other authorized causes under Philippine labor law. This document serves multiple purposes: it details the severance package and benefits, provides legal protection through mutual releases, and ensures compliance with local labor regulations. The agreement typically comes into play during corporate restructuring, voluntary separation programs, or individual employment terminations. It must comply with the Philippine Labor Code, relevant DOLE (Department of Labor and Employment) regulations, and Supreme Court jurisprudence regarding separation agreements and quitclaims. The document is particularly important as it helps prevent future disputes by clearly documenting the terms of separation and the rights and obligations of both parties.

Suggested Sections

1. Parties: Identifies the employer and employee parties to the agreement, including their complete legal names and addresses

2. Background: Outlines the employment relationship, including start date, position, and circumstances leading to separation

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Separation Date and Terms: Specifies the effective date of employment termination and basic terms of separation

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

6. Release of Claims: Comprehensive release of all claims, causes of action, and demands against the employer

7. Company Property: Requirements for return of company property and confidential information

8. Continuing Obligations: Ongoing obligations such as confidentiality and non-disclosure requirements

9. Tax Matters: Addresses tax treatment of severance payments and related obligations

10. Acknowledgments: Employee's acknowledgments of understanding, voluntary execution, and opportunity for legal counsel

11. Governing Law: Specifies Philippine law as governing law and relevant jurisdiction

12. Execution: Signature blocks and execution requirements

Optional Sections

1. Non-Compete Provisions: Restrictions on future employment, if applicable and reasonable under Philippine law

2. Non-Solicitation: Restrictions on soliciting employees or customers, if applicable

3. Reference and Communications: Terms regarding future employment references and internal/external communications about the separation

4. Benefits Continuation: Details about any continued benefits or insurance coverage post-employment

5. Cooperation in Transition: Terms regarding employee's assistance in transitioning duties

6. Dispute Resolution: Alternative dispute resolution procedures, if preferred over standard legal proceedings

7. Amendment to Previous Agreements: Modifications to existing employment agreements or contracts

8. Certificate of Service: Terms regarding the provision of employment certificate required under Philippine law

Suggested Schedules

1. Schedule A - Severance Calculation: Detailed breakdown of severance payment calculation including base pay, prorated benefits, and other components

2. Schedule B - Company Property Checklist: List of company property to be returned by the employee

3. Schedule C - Benefits Summary: Summary of benefits and their treatment post-termination

4. Appendix 1 - Previous Agreements: Copies or references to relevant previous employment agreements being superseded

5. Appendix 2 - Statutory Requirements Checklist: Checklist confirming compliance with Philippine statutory requirements for valid releases

6. Appendix 3 - Tax Computation: Detailed tax calculations and withholding information for the severance package

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

alex.den.21@genieai.co

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Banking and Financial Services

Technology and Software

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Education

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Energy and Utilities

Real Estate

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Relevant Teams

Human Resources

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Finance

Executive Leadership

Operations

Administration

Compliance

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Corporate Secretariat

Employee Relations

Relevant Roles

Chief Executive Officer

Human Resources Director

Chief Financial Officer

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Department Manager

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Operations Manager

Administrative Officer

Technical Specialist

Sales Manager

Account Executive

Research Scientist

Senior Engineer

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Financial Controller

Branch Manager

General Manager

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Let's create your Severance Release Agreement

Authors

Alex Denne

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