A Revoke Severance Agreement is used when both parties agree to cancel a previously executed severance arrangement. This document becomes necessary in situations such as mutual agreement to resume employment, discovery of material facts that invalidate the original agreement, or when regulatory requirements necessitate revocation. Under English and Welsh law, it must address key elements including payment returns, tax implications, and the reinstatement of pre-severance rights and obligations. The document ensures legal compliance while providing a clear framework for unwinding the original severance arrangement.
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1. Parties: Identification of the employer and employee
2. Background: Details of the original severance agreement and reasons for revocation
3. Definitions: Key terms used in the document
4. Revocation Statement: Clear statement of revocation of the original agreement
5. Effective Date: When the revocation takes effect
6. Return of Payments: Terms for returning any severance payments already made
1. Tax Provisions: Additional provisions dealing with tax implications when payments have been made and need to be returned
2. Reinstatement Terms: Provisions covering terms of employment reinstatement when employee is returning to employment
3. Confidentiality: Ongoing confidentiality obligations when original agreement contained confidentiality provisions
1. Original Severance Agreement: Copy of the agreement being revoked
2. Payment Schedule: Schedule of payments to be returned, if applicable
3. Tax Calculations: Details of tax implications and adjustments
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