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1. Parties: Identification and details of the employer and employee entering into the settlement agreement
2. Background: Brief history of employment relationship, reason for separation, and context of the settlement
3. Definitions: Key terms used throughout the agreement defined for clarity and precision
4. Settlement Amount: Clear statement of the total settlement amount and its components
5. Payment Terms: Details of how and when the settlement amount will be paid
6. Tax Provisions: Clarification on tax implications and responsibilities for tax payments
7. Release of Claims: Employee's release of all claims against the employer
8. Employer's Release: Employer's release of claims against the employee
9. Confidentiality: Obligations regarding confidentiality of the settlement terms and company information
10. Return of Company Property: Requirements for returning all company assets and properties
11. No Admission of Liability: Statement that the settlement does not constitute admission of liability by either party
12. Governing Law and Jurisdiction: Specification of applicable law and courts having jurisdiction
13. Entire Agreement: Confirmation that this agreement represents the complete understanding between parties
14. Execution: Signature blocks and execution details
1. Non-Disparagement: Mutual obligations not to make negative statements about each other - used when there's potential for reputational damage
2. Reference Letter: Terms regarding the provision of employment reference - included when agreed as part of settlement
3. Ongoing Obligations: Any continuing obligations post-settlement - used when there are surviving terms from employment contract
4. Medical Benefits Continuation: Details of any extended medical coverage - included when applicable to the settlement
5. Non-Competition and Non-Solicitation: Post-employment restrictions - included when required by employer and agreed by employee
6. Legal Advice: Confirmation that employee received independent legal advice - used in complex settlements or when required by policy
7. Revocation Period: Period during which the agreement can be revoked - included when required by law or agreed between parties
8. Future Cooperation: Terms for employee's assistance in future matters - used when ongoing cooperation might be needed
1. Schedule A - Settlement Calculation: Detailed breakdown of settlement amount including salary, benefits, gratuity, and other components
2. Schedule B - List of Company Property: Itemized list of company property to be returned
3. Schedule C - Benefits Statement: Statement of benefits and their treatment post-settlement
4. Schedule D - Tax Computation: Detailed calculation of tax deductions and net payment
5. Appendix 1 - Employee Information: Details of employee's employment history, position, and compensation
6. Appendix 2 - Supporting Documents: Copies of relevant documents such as resignation letter, acceptance, etc.
7. Appendix 3 - Reference Letter Format: Template or actual reference letter if agreed as part of settlement
Recitals
Settlement Terms
Payment Obligations
Tax Implications
Release of Claims
Mutual Release
Return of Property
Confidentiality
Non-Disclosure
Non-Disparagement
Further Assurance
Indemnification
Severability
Governing Law
Jurisdiction
Waiver
Amendment
Entire Agreement
Notices
Force Majeure
Assignment
Counterparts
Acknowledgment
Legal Advice
No Admission
Surviving Obligations
Statutory Compliance
Data Protection
Reference
Non-Competition
Non-Solicitation
Cooperation
Information Technology
Manufacturing
Financial Services
Healthcare
Retail
Telecommunications
Professional Services
Construction
Education
Hospitality
Automotive
Pharmaceutical
Energy
Mining
Real Estate
Human Resources
Legal
Finance
Payroll
Compliance
Employee Relations
Corporate Secretarial
Operations
Administration
HR Manager
HR Director
Legal Counsel
Finance Manager
Payroll Manager
HR Business Partner
Compliance Officer
Employee Relations Manager
HR Operations Manager
Chief Human Resources Officer
Finance Director
General Counsel
Company Secretary
Chief Financial Officer
HR Administrator
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