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Employment Settlement Agreement
"I need an Employment Settlement Agreement under Austrian law for a senior software developer leaving our Vienna-based tech company by mutual consent on March 1, 2025, including provisions for ongoing project handover and treatment of unvested stock options."
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Brief history of employment relationship, including start date, position, and reason for termination
3. Definitions: Key terms used throughout the agreement, including 'Termination Date', 'Settlement Sum', and other relevant definitions
4. Termination of Employment: Formal statement of employment termination, specifying the last day of employment and immediate actions required
5. Settlement Payments: Detailed breakdown of all payments to be made, including final salary, severance pay, and any additional compensation
6. Tax Treatment: Clarification of tax handling for various payment components in accordance with Austrian tax law
7. Company Property: Requirements for return of company property and confirmation of data deletion
8. Confidentiality Obligations: Ongoing confidentiality obligations post-employment
9. Full and Final Settlement: Mutual release of claims and waiver of rights, subject to Austrian legal requirements
10. Reference and Communications: Agreement on employment references and internal/external communications about the departure
11. Governing Law: Specification of Austrian law as governing law and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Post-Termination Restrictions: Non-compete and non-solicitation clauses, if applicable under existing employment contract and Austrian law
2. Ongoing Projects: Provisions for handover of ongoing work and projects, if applicable
3. Benefits Continuation: Details of any benefits extending beyond termination date
4. Intellectual Property: Specific provisions regarding intellectual property created during employment
5. Legal Costs: Agreement on payment of legal costs for agreement review
6. Works Council Approval: Required if works council involvement is necessary under Austrian law
7. Stock Options/Share Rights: Treatment of any outstanding equity compensation
8. Insurance Continuation: Details of any insurance coverage extensions or conversions
1. Schedule 1 - Payment Calculation: Detailed breakdown of all payment components including salary, severance, and benefits
2. Schedule 2 - Company Property: Itemized list of company property to be returned
3. Schedule 3 - Benefits Summary: Summary of benefits and their treatment post-termination
4. Schedule 4 - Outstanding Claims: List of any outstanding claims or disputes being settled
5. Appendix A - Resignation Letter: Form of resignation letter to be signed by employee
6. Appendix B - Reference Letter: Agreed form of employment reference
Authors
Company
Employee
Effective Date
Termination Date
Settlement Sum
Final Salary
Severance Payment
Notice Period
Confidential Information
Company Property
Claims
Works Council
Group Companies
Business Day
Intellectual Property Rights
Employment Contract
Benefits
Reference Letter
Professional Capacity
Restrictive Covenants
Final Settlement
Tax Liabilities
Legal Costs
Termination Payments
Social Security Contributions
Bonus Payment
Outstanding Holiday
Compensation
Release
Termination
Settlement Payments
Tax and Social Security
Company Property Return
Confidentiality
Non-Disparagement
Full and Final Settlement
Release of Claims
Post-Termination Restrictions
Reference and Announcements
Data Protection
Intellectual Property
Continuing Obligations
Legal Costs
Works Council Approval
Benefits Cessation
Outstanding Leave
Warranties and Representations
Severability
Entire Agreement
Governing Law and Jurisdiction
Third Party Rights
Counterparts
Notice
Assignment
Waiver
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Software Developer
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