The Early Release From Notice Period agreement is used when both employer and employee mutually agree to terminate employment earlier than the contractual notice period requires. This document, governed by English and Welsh law, is particularly relevant when an employee has secured new employment or when the employer wishes to expedite the departure process. It typically includes provisions for final salary calculations, holiday pay, company property return, and any continuing obligations. The agreement ensures legal compliance while providing clarity and certainty for both parties regarding the early termination arrangements.
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1. Current Employment Details: Details of employee's current role, start date, and contractual notice period
2. Early Release Agreement: Agreement of early termination date and mutual consent to vary notice period
3. Payment Terms: Confirmation of final salary payment, treatment of notice period, and any additional payments
4. Holiday Entitlement: Calculation and treatment of accrued but unused holiday entitlement
5. Company Property: Obligation to return all company property and confidential information
6. Full and Final Settlement: Confirmation that this represents full and final settlement of all claims
1. Garden Leave: Terms of garden leave during any remaining employment period, including duties and restrictions
2. Restrictive Covenants: Reminder and confirmation of post-termination restrictions from original contract
3. Reference Provision: Agreement regarding the nature and content of future employment references
4. Confidentiality: Specific confidentiality obligations beyond standard terms
5. Legal Advice: Confirmation that the employee has had the opportunity to seek independent legal advice
1. Schedule of Company Property: Itemized list of company property to be returned by the termination date
2. Final Payment Calculation: Detailed breakdown of final payment including salary, holiday pay, and any other entitlements
3. Post-Termination Restrictions: Copy of relevant restrictive covenants from original employment contract
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