The Severance Release Agreement is a crucial document in Canadian employment law used when terminating employment relationships on a without-cause basis. It serves to document the terms of separation while obtaining a release of claims from the employee in exchange for severance compensation that typically exceeds statutory minimums. The agreement must comply with federal and provincial employment standards, including minimum notice and severance requirements, while also addressing common law entitlements. It's particularly important in protecting employers from future claims while ensuring employees receive fair compensation. The document typically includes provisions for severance payment, benefits continuation, confidentiality obligations, and release of claims. This agreement requires careful drafting to ensure enforceability under Canadian law and should account for specific provincial requirements where applicable.
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1. Parties: Identification of the employer and employee, including legal names and addresses
2. Background: Brief recitation of employment history, termination date, and context for the agreement
3. Definitions: Key terms used throughout the agreement, including 'Released Parties', 'Claims', and specific payment terms
4. Termination Date: Clear statement of when employment ends and final day of work
5. Severance Payment: Details of severance amount, payment schedule, and tax treatment
6. Release of Claims: Comprehensive release of legal claims against employer and related parties
7. Continuing Obligations: Ongoing responsibilities including confidentiality and non-disparagement
8. Return of Property: Requirements for returning company property and documents
9. Tax Indemnity: Employee's responsibility for tax consequences of severance payment
10. Acknowledgment: Employee's confirmation of understanding and voluntary acceptance
11. Independent Legal Advice: Confirmation of opportunity to seek independent legal counsel
12. Governing Law: Specification of applicable Canadian jurisdiction
13. Execution: Signature blocks and date of agreement
1. Benefits Continuation: Details of extended health benefits, if offered beyond termination
2. Outplacement Services: Description of career transition services if provided
3. Stock Options/RSUs: Treatment of outstanding equity compensation, if applicable
4. Reference Letter: Terms regarding employment references and confirmation of employment
5. Non-Competition: Post-employment competitive restrictions, if enforceable and appropriate
6. Non-Solicitation: Restrictions on soliciting employees or customers
7. Pension and RRSP: Treatment of retirement benefits and accounts
8. Reinstatement Rights: Waiver of any right to future employment
9. Immigration Support: Provisions for work permit or immigration status implications
1. Schedule A - Severance Calculation: Detailed breakdown of severance payment components
2. Schedule B - Benefits Summary: Details of benefit continuation terms and coverage
3. Schedule C - Outstanding Equity Awards: List of stock options, RSUs, or other equity compensation
4. Schedule D - Company Property: Itemized list of company property to be returned
5. Appendix 1 - Reference Letter: Agreed form of reference letter if included in agreement
6. Appendix 2 - Release Certificate: Additional release to be signed on receipt of payment or at termination date
Relevant legal definitions
Agreement
Company
Confidential Information
Effective Date
Employee
Employment Agreement
Group Companies
Notice Period
Outstanding Pay
Released Claims
Released Parties
Severance Payment
Statutory Entitlements
Termination Date
Claims
Consideration
Company Property
Compensation
Benefits
Intellectual Property
Parties
Personal Information
Record of Employment
Release
Restrictive Covenants
Surviving Provisions
Tax Withholdings
Accrued Obligations
Cause
Continuing Benefits
Employment Standards Legislation
Final Release
Non-Disparagement
Applicable Law
Governing Law
Company
Confidential Information
Effective Date
Employee
Employment Agreement
Group Companies
Notice Period
Outstanding Pay
Released Claims
Released Parties
Severance Payment
Statutory Entitlements
Termination Date
Claims
Consideration
Company Property
Compensation
Benefits
Intellectual Property
Parties
Personal Information
Record of Employment
Release
Restrictive Covenants
Surviving Provisions
Tax Withholdings
Accrued Obligations
Cause
Continuing Benefits
Employment Standards Legislation
Final Release
Non-Disparagement
Applicable Law
Governing Law
Clauses
Payment Terms
Release of Claims
Confidentiality
Non-Disparagement
Return of Property
Continuing Obligations
Tax Compliance
Benefits
Legal Compliance
Indemnification
Severability
Entire Agreement
Independent Legal Advice
Governing Law
Assignment
Amendment
Notice
Survival
Acknowledgment
Execution
Non-Admission
Cooperation
Reference
Non-Competition
Non-Solicitation
Intellectual Property
Privacy
Waiver
Further Assurances
Counterparts
Release of Claims
Confidentiality
Non-Disparagement
Return of Property
Continuing Obligations
Tax Compliance
Benefits
Legal Compliance
Indemnification
Severability
Entire Agreement
Independent Legal Advice
Governing Law
Assignment
Amendment
Notice
Survival
Acknowledgment
Execution
Non-Admission
Cooperation
Reference
Non-Competition
Non-Solicitation
Intellectual Property
Privacy
Waiver
Further Assurances
Counterparts
Relevant Industries
Technology
Financial Services
Manufacturing
Retail
Healthcare
Professional Services
Education
Construction
Energy
Transportation
Telecommunications
Mining
Real Estate
Agriculture
Entertainment
Hospitality
Relevant Teams
Human Resources
Legal
People Operations
Employee Relations
Executive Leadership
Talent Management
Compensation and Benefits
Finance
Payroll
Relevant Roles
Human Resources Director
HR Manager
Employment Lawyer
Legal Counsel
HR Business Partner
Chief Human Resources Officer
HR Specialist
Talent Management Director
Employee Relations Manager
Chief Executive Officer
Chief Operating Officer
Department Manager
Senior Executive
Vice President
Director
Manager
Supervisor
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