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Settlement Agreement Ex Gratia Payment

Settlement Agreement Ex Gratia Payment Template for Austria

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Settlement Agreement Ex Gratia Payment

"I need a Settlement Agreement Ex Gratia Payment under Austrian law for a senior executive's departure, with a payment of €150,000 to be made in two installments by March 2025, including non-compete provisions and an agreed reference."

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Document background
The Settlement Agreement Ex Gratia Payment is a formal legal document used when one party wishes to make a voluntary payment to another party without admitting any legal obligation to do so. This type of agreement is commonly used in Austrian business practice to resolve potential disputes or to provide additional compensation beyond contractual obligations. It must comply with Austrian civil law requirements, particularly the provisions of the ABGB regarding settlement agreements (Vergleich) and the Austrian Income Tax Act (EStG) for tax treatment. The document typically includes detailed payment terms, comprehensive releases, tax and social security provisions, and confidentiality obligations. It's particularly useful in employment contexts, corporate restructuring, or other situations where a party wishes to make a payment while maintaining that it has no legal obligation to do so.
Suggested Sections

1. Parties: Identification of the parties entering into the agreement

2. Background: Context of the situation leading to the ex gratia payment, explicitly stating its voluntary nature

3. Definitions: Key terms used throughout the agreement

4. Ex Gratia Payment: Details of the payment amount, timing, and method of payment

5. Tax and Social Security: Clarification of tax treatment and social security implications

6. Release of Claims: Comprehensive release of all claims by the receiving party

7. Confidentiality: Obligations regarding confidentiality of the agreement and its terms

8. Data Protection: GDPR compliance and data handling provisions

9. Governing Law: Confirmation of Austrian law as governing law

10. Execution: Signature blocks and execution provisions

Optional Sections

1. Non-Disparagement: Mutual obligations not to make negative statements, used when public relations are a concern

2. Return of Property: Requirements for returning company property, relevant if the recipient was an employee

3. Non-Compete/Non-Solicitation: Restrictions on future activities, used when protecting business interests is crucial

4. Reference: Terms regarding future employment references, included when the recipient is a former employee

5. Announcement: Agreed format for any internal or external communications about the settlement

6. Legal Advice: Confirmation that independent legal advice was received, used in high-value settlements

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment amounts and dates if payment is to be made in installments

2. Tax Calculation: Detailed calculation of tax implications and net payment amounts

3. Form of Release: Standard form for executing the release of claims

4. Company Property List: Itemized list of company property to be returned, if applicable

5. Agreed Announcement Text: Pre-approved text for any internal or external communications about the settlement

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking & Financial Services

Manufacturing

Technology

Professional Services

Healthcare

Retail

Education

Construction

Energy

Telecommunications

Relevant Teams

Human Resources

Legal

Finance

Compliance

Employee Relations

Payroll

Risk Management

Executive Leadership

Corporate Governance

Relevant Roles

Chief Executive Officer

Human Resources Director

Legal Counsel

Finance Director

Compliance Officer

HR Business Partner

Department Manager

Employee Relations Manager

Payroll Manager

Risk Manager

General Counsel

Chief Financial Officer

Industries
ABGB (Austrian Civil Code): Provides the fundamental legal framework for contracts and settlements, particularly §§ 1380-1390 regarding settlement agreements (Vergleich)
EStG (Austrian Income Tax Act): Regulates the tax treatment of ex gratia payments, especially § 67 regarding special payments and their tax implications
GDPR and DSG (Data Protection Act): Governs the handling of personal data in the agreement and any associated documentation
ASVG (General Social Security Act): Determines whether the ex gratia payment is subject to social security contributions
GebG (Fees Act): Regulates any stamp duties or fees that might apply to the settlement agreement
AngG (Salaried Employees Act): Relevant if the ex gratia payment is related to an employment relationship with a salaried employee
ArbVG (Labor Constitution Act): May be relevant if the settlement involves works council rights or collective agreements
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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