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.
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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
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
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
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Technology and Software
Manufacturing
Retail and Consumer Goods
Healthcare
Education
Professional Services
Construction
Telecommunications
Energy and Utilities
Real Estate
Transportation and Logistics
Media and Entertainment
Hospitality and Tourism
Mining and Natural Resources
Relevant Teams
Human Resources
Legal
Finance
Executive Leadership
Operations
Administration
Compliance
Risk Management
Corporate Secretariat
Employee Relations
Relevant Roles
Chief Executive Officer
Human Resources Director
Chief Financial Officer
Legal Counsel
Department Manager
Senior Executive
Regional Manager
Division Head
Project Manager
Operations Manager
Administrative Officer
Technical Specialist
Sales Manager
Account Executive
Research Scientist
Senior Engineer
Marketing Director
Financial Controller
Branch Manager
General Manager
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