The Voluntary Redundancy Settlement Agreement is used when organizations in England and Wales are implementing workforce reductions and employees have volunteered to leave in exchange for enhanced benefits. This document serves as a comprehensive record of the termination arrangements, typically including financial terms, timing of departure, treatment of benefits, and waiver of claims. It provides legal protection for both parties by clearly stating their obligations and rights, while ensuring compliance with UK employment law requirements. The agreement must be accompanied by independent legal advice to the employee to be legally valid.
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Key Requirements PROMPT example:
Voluntary Redundancy Settlement Agreement
"I need a Voluntary Redundancy Settlement Agreement for a senior software developer who has accepted redundancy as part of our tech department restructure, with an enhanced package of £75,000 and a termination date of March 15, 2025."
1. Parties: Identification of employer and employee with full legal names and addresses
2. Background: Context of redundancy situation and voluntary nature of the agreement
3. Definitions: Key terms used throughout the agreement including defined terms, interpretation rules, and relevant dates
4. Termination Date: Specific date employment will end and final working day arrangements
5. Payment Provisions: Details of redundancy payment, payment in lieu of notice, and other financial entitlements
6. Tax Treatment: Tax implications of payments and employer's tax indemnity
7. Waiver of Claims: Employee's waiver of employment-related claims and statutory rights
8. Legal Advice: Confirmation of independent legal advice received and adviser details
1. Post-Termination Restrictions: Continuing obligations after employment ends, including confidentiality and restrictive covenants
2. Company Property: Return of company assets, equipment, and confidential information
3. Reference: Terms of employment reference and agreed format
4. Outplacement Support: Details of career transition services and support provided
5. Garden Leave: Provisions for any garden leave period prior to termination date
1. Schedule 1 - Payment Calculation: Detailed breakdown of all payments including statutory redundancy, ex-gratia payments, and benefits
2. Schedule 2 - Claims Being Settled: Comprehensive list of statutory and contractual claims being waived under the agreement
3. Appendix 1 - Adviser's Certificate: Independent legal adviser's confirmation of advice given and professional insurance
4. Appendix 2 - Agreed Reference: Template of agreed employment reference where applicable
Authors
Relevant legal definitions
Agreement
Adviser
Adviser's Certificate
Claims
Company
Confidential Information
Employee
Employment
Employer
Enhanced Redundancy Payment
Final Salary
Group
Notice Period
Outstanding Benefits
Parties
Payment in Lieu of Notice
Statutory Redundancy Payment
Termination Date
Termination Payment
Waiver
Working Day
Adviser
Adviser's Certificate
Claims
Company
Confidential Information
Employee
Employment
Employer
Enhanced Redundancy Payment
Final Salary
Group
Notice Period
Outstanding Benefits
Parties
Payment in Lieu of Notice
Statutory Redundancy Payment
Termination Date
Termination Payment
Waiver
Working Day
Clauses
Termination of Employment
Payments and Benefits
Tax Treatment
Accrued Holiday
Company Property
Confidentiality
Non-Disparagement
References
Legal Advice
Waiver of Claims
Full and Final Settlement
Post-Termination Restrictions
Warranties and Representations
Continuing Obligations
Pension Rights
Share Options and Awards
Announcements
Outplacement Support
Garden Leave
Variation
Third Party Rights
Severability
Entire Agreement
Governing Law and Jurisdiction
Counterparts
Legal Costs
Data Protection
Re-Employment
Payments and Benefits
Tax Treatment
Accrued Holiday
Company Property
Confidentiality
Non-Disparagement
References
Legal Advice
Waiver of Claims
Full and Final Settlement
Post-Termination Restrictions
Warranties and Representations
Continuing Obligations
Pension Rights
Share Options and Awards
Announcements
Outplacement Support
Garden Leave
Variation
Third Party Rights
Severability
Entire Agreement
Governing Law and Jurisdiction
Counterparts
Legal Costs
Data Protection
Re-Employment
Relevant Industries
Relevant Teams
Relevant Roles
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