The Severance Contract (beëindigingsovereenkomst) is a crucial document used in the Netherlands when employment relationships are terminated by mutual agreement or as part of a wider reorganization. This document is essential for ensuring compliance with Dutch employment law while providing clear terms for both parties regarding the termination of employment. It becomes relevant in various scenarios including reorganizations, performance-related exits, or mutual agreements to part ways. The contract must adhere to strict Dutch legal requirements, including statutory severance calculations (transitievergoeding) and the mandatory 14-day reflection period. It typically encompasses financial arrangements, tax considerations, confidentiality provisions, and potential post-employment restrictions, all while ensuring protection under Dutch employment regulations.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of the employment relationship, including start date, position, and reason for termination
3. Definitions: Key terms used throughout the agreement
4. Termination Date and Arrangements: Specific date of termination and handover arrangements
5. Financial Settlement: Details of severance payment, including calculation method and payment timing
6. Final Salary and Benefits: Treatment of outstanding salary, bonuses, vacation days, and other benefits
7. Tax Treatment: Tax implications and responsibilities regarding the severance payment
8. Statutory Reflection Period: Mandatory 14-day reflection period under Dutch law
9. Final Discharge: Mutual release of claims and obligations
10. Confidentiality: Obligations regarding confidential information
11. References: Agreement on employment references and communications about departure
12. Governing Law: Confirmation of Dutch law application and jurisdiction
13. Signatures: Execution section including date and signature blocks
1. Non-Competition and Non-Solicitation: Post-employment restrictions, used when protecting business interests is crucial
2. Company Property: Details of company property return, used when employee has significant company assets
3. Ongoing Projects: Transition arrangements for unfinished work, used for senior or specialized roles
4. Share Options/Investment Plans: Treatment of equity-based compensation, used when employee has share-based benefits
5. Legal Fees: Arrangement for payment of legal advisory fees, used when employer agrees to cover employee's legal costs
6. Medical Insurance Continuation: Arrangements for continued health coverage, used for international employees or special benefits packages
7. Outplacement Support: Details of career transition services, used when part of severance package
8. Press/Communication Strategy: External and internal communication agreements, used for senior executives or public-facing roles
1. Schedule 1 - Severance Calculation: Detailed breakdown of severance payment calculation including statutory and contractual elements
2. Schedule 2 - Outstanding Benefits: Itemized list of accrued benefits, bonuses, and vacation days
3. Schedule 3 - Company Property Inventory: List of company assets to be returned
4. Schedule 4 - Handover Document: Detailed list of ongoing projects and handover instructions
5. Appendix A - Tax Calculations: Overview of tax implications and calculations
6. Appendix B - Benefits Summary: Summary of post-termination benefits and their duration
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