The Severance and Release Agreement is a crucial document used in India when terminating employment relationships, whether through mutual agreement, redundancy, or other circumstances. It serves dual purposes: providing the departing employee with agreed-upon compensation and benefits while protecting the employer from future claims. This agreement must comply with various Indian labor laws, including the Industrial Disputes Act, 1947, Payment of Gratuity Act, 1972, and relevant state-specific regulations. The document typically includes detailed calculations of severance pay, treatment of statutory benefits, tax considerations, confidentiality obligations, and comprehensive release provisions. It's particularly important in scenarios involving senior executives, reduction in force, or when significant severance benefits are being offered.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc
1. Parties: Identification of the employer and employee, including their legal addresses and registration details
2. Background: Brief context of the employment relationship, reason for separation, and purpose of the agreement
3. Definitions: Key terms used throughout the agreement including 'Effective Date', 'Severance Payment', 'Claims', etc.
4. Termination Date: Clear specification of the last day of employment and immediate obligations
5. Severance Benefits: Detailed breakdown of all severance payments, benefits, and their payment schedule
6. Tax Implications: Statement regarding tax treatment of payments and responsibilities of parties
7. Release and Waiver: Comprehensive release of claims by employee against employer and related entities
8. Company Property: Requirements for return of company property and confidential information
9. Confidentiality: Ongoing obligations regarding confidential information and trade secrets
10. References: Agreement on how future employment references will be handled
11. Governing Law: Specification of Indian law as governing law and jurisdiction for disputes
12. General Provisions: Standard clauses including entire agreement, amendments, notices, and severability
1. Non-Compete and Non-Solicitation: Restrictions on future employment and client/employee solicitation, used when protecting business interests is crucial
2. Ongoing Benefits: Details of any benefits extending beyond termination date, such as health insurance or stock options
3. Mutual Non-Disparagement: Mutual agreement not to make negative statements, used in senior executive agreements
4. Cooperation: Requirements for post-employment assistance in transitions or legal matters
5. Outplacement Services: Details of career transition support, if provided
6. Equity/Stock Options: Treatment of outstanding equity compensation, used when employee has stock options or RSUs
7. Legal Fees: Provisions for payment of legal fees for agreement review, common in executive agreements
1. Schedule A - Severance Calculation: Detailed breakdown of severance amount calculation including basic pay, gratuity, and other components
2. Schedule B - Benefits Summary: List of all benefits and their continuation or termination status
3. Schedule C - Company Property Checklist: Itemized list of company property to be returned
4. Schedule D - Release Claims: Specific list of claims being released under the agreement
5. Appendix 1 - Payment Timeline: Schedule of dates for severance payment installments
6. Appendix 2 - Statutory Calculations: Calculations of statutory dues like gratuity and provident fund
Relevant legal definitions
Effective Date
Termination Date
Company
Employee
Severance Payment
Severance Period
Confidential Information
Released Parties
Claims
Cause
Company Property
Intellectual Property Rights
Gratuity
Provident Fund
Full and Final Settlement
Group Companies
Notice Period
Trade Secrets
Proprietary Information
Statutory Benefits
Final Wages
Accrued Benefits
Release
Restrictive Covenants
Governing Law
Gross Misconduct
Outstanding Obligations
Surviving Provisions
Unpaid Salary
Bonus
Leave Encashment
Non-Compete Period
Affiliates
Dispute
Benefits
Compensation
Termination Date
Company
Employee
Severance Payment
Severance Period
Confidential Information
Released Parties
Claims
Cause
Company Property
Intellectual Property Rights
Gratuity
Provident Fund
Full and Final Settlement
Group Companies
Notice Period
Trade Secrets
Proprietary Information
Statutory Benefits
Final Wages
Accrued Benefits
Release
Restrictive Covenants
Governing Law
Gross Misconduct
Outstanding Obligations
Surviving Provisions
Unpaid Salary
Bonus
Leave Encashment
Non-Compete Period
Affiliates
Dispute
Benefits
Compensation
Clauses
Termination
Severance Payment
Release and Waiver
Confidentiality
Non-Compete
Non-Solicitation
Return of Property
Non-Disparagement
Post-Employment Obligations
Statutory Benefits
Tax Compliance
Final Settlement
References
Cooperation
Intellectual Property
Governing Law
Dispute Resolution
Amendment
Severability
Entire Agreement
Notices
Assignment
Survival
Acknowledgment
Waiver
Force Majeure
Representation and Warranties
Legal Fees
Indemnification
Benefits Continuation
Severance Payment
Release and Waiver
Confidentiality
Non-Compete
Non-Solicitation
Return of Property
Non-Disparagement
Post-Employment Obligations
Statutory Benefits
Tax Compliance
Final Settlement
References
Cooperation
Intellectual Property
Governing Law
Dispute Resolution
Amendment
Severability
Entire Agreement
Notices
Assignment
Survival
Acknowledgment
Waiver
Force Majeure
Representation and Warranties
Legal Fees
Indemnification
Benefits Continuation
Relevant Industries
Information Technology
Manufacturing
Financial Services
Healthcare
Retail
Telecommunications
Professional Services
Education
Construction
Real Estate
Hospitality
Automotive
Pharmaceutical
Energy
Media and Entertainment
Relevant Teams
Human Resources
Legal
Finance
Payroll
Compliance
Executive Leadership
Corporate Affairs
Employee Relations
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Senior Manager
Department Head
Regional Director
General Manager
Project Manager
Software Engineer
Sales Executive
Operations Manager
HR Manager
Financial Analyst
Marketing Manager
Research Scientist
Administrative Officer
Technical Lead
Business Development Manager
Account Manager
Find the exact document you need
Lease Cancellation Deed
An Indian law-compliant deed that formally terminates a lease agreement between landlord and tenant, documenting property surrender and mutual release of obligations.
find out more
Landlord Breaking Tenancy Agreement
Template for landlords to terminate tenancy agreements in India, compliant with Indian property laws and rental regulations.
find out more
Breaking Lease Agreement
An Indian law-compliant agreement documenting the mutual consent to terminate a lease before its original end date, outlining termination terms and settlement conditions.
find out more
Termination And Release Agreement (Real Estate)
An Indian law-compliant agreement for terminating real estate contracts and providing mutual releases between parties, with provisions for settlement and liability discharge.
find out more
Terminating A Franchise Agreement
An Indian law-governed document that formally terminates a franchise agreement, outlining termination terms and post-termination obligations.
find out more
Terminating An Unsigned Contract
A formal document for terminating an unsigned contract under Indian law, addressing mutual releases and ongoing obligations between parties.
find out more
Release Of Contract (Real Estate)
An Indian law-compliant document that formally terminates and releases parties from their obligations under an existing real estate contract.
find out more
Ending An Employment Contract Early
An agreement for early employment termination under Indian law, covering separation terms, settlements, and post-employment obligations.
find out more
Dissolution And Termination Of Joint Venture
An Indian law-governed agreement for the formal dissolution and termination of a joint venture arrangement, addressing asset distribution, liabilities, and post-termination obligations.
find out more
Agreement Cancellation Deed
A formal legal document under Indian law that mutually terminates an existing agreement between parties and settles all related obligations.
find out more
At Will Contract
An India-compliant employment contract template incorporating at-will employment principles while adhering to local labor law requirements.
find out more
Rent Cancellation Agreement
An Indian law-governed agreement that formally terminates a rental arrangement between landlord and tenant, settling all related obligations and liabilities.
find out more
Letter Of Cancellation Of Contract
A formal notice under Indian law to terminate an existing contract, stating the cancellation terms and effective date.
find out more
Termination Of Contract Letter To Employee
A formal document used in India to communicate the termination of employment, outlining key terms and ensuring compliance with Indian labor laws.
find out more
Tenancy At Will Termination
An Indian law-compliant notice document used to formally terminate a tenancy at will arrangement, including termination date and vacation requirements.
find out more
Premature Termination Of Contract
A legally compliant document under Indian law for early termination of contractual relationships, outlining termination terms and mutual obligations.
find out more
Cancellation Of Condominium Contract
An Indian law-compliant agreement for cancelling a condominium purchase contract, addressing termination terms, refunds, and mutual releases.
find out more
Lease Termination
An Indian law-compliant agreement for formally terminating a lease arrangement between landlord and tenant, documenting termination terms and final settlements.
find out more
Cancellation Of Development Agreement
An Indian law-governed agreement that formally terminates an existing Development Agreement between property owners and developers, settling all related obligations and claims.
find out more
Termination Of Development Agreement
An Indian law-governed agreement that formally terminates an existing development agreement, outlining termination terms, settlements, and post-termination obligations.
find out more
Mutual Termination Of Contract In Construction Projects
An agreement for mutual termination of construction contracts under Indian law, covering settlement terms, handover procedures, and mutual releases.
find out more
Buyer Termination Of Contract
An Indian law-compliant document for buyers to formally terminate contracts with suppliers or service providers, specifying termination grounds and next steps.
find out more
Termination Release Agreement
An Indian law-governed agreement that terminates an existing contract and provides mutual releases from future claims.
find out more
Shareholder Exit Agreement
An Indian law-governed agreement establishing terms and procedures for a shareholder's exit from a company, including valuation, payment terms, and compliance requirements.
find out more
Partner Exit Agreement
An Indian law-governed agreement that formalizes a partner's exit from a partnership firm, including financial settlements and transition arrangements.
find out more
Contract Termination Acceptance Letter
A formal document under Indian law acknowledging and accepting the termination of a contract, including termination terms and final arrangements.
find out more
30 Day Lease Termination
A formal 30-day lease termination notice compliant with Indian property law, used to end residential or commercial lease agreements.
find out more
Fixed Term Lease Termination
An Indian law-compliant document that formally terminates a fixed-term lease agreement between landlord and tenant, specifying termination terms and handover arrangements.
find out more
Lease Termination Agreement For Trucking Owner Operator
An Indian law-governed agreement for terminating a lease arrangement between a transportation company and a trucking owner-operator, including settlement terms and equipment return provisions.
find out more
60 Day Lease Termination Letter To Landlord
A formal 60-day notice of lease termination from tenant to landlord under Indian property law, providing essential details and ensuring legal compliance.
find out more
Termination Letter To An Employee
A formal employment termination letter compliant with Indian labor laws, outlining the terms and conditions of employment cessation.
find out more
Lease Termination Agreement Trucking
An Indian law-governed agreement for terminating commercial truck leasing arrangements, addressing vehicle return, financial settlements, and regulatory compliance.
find out more
Truck Lease Termination Letter
An Indian law-compliant formal letter terminating a truck lease agreement, specifying termination terms and handover arrangements.
find out more
Termination Of Contract And Release Of Earnest Money
An Indian law-compliant agreement for mutual contract termination and earnest money release, including settlement terms and mutual releases.
find out more
Release And Cancellation Of Contract
An Indian law-compliant document that formally terminates an existing contract and provides mutual release from obligations while settling all outstanding matters between parties.
find out more
Non Disparagement Agreement After Termination
An Indian law-governed agreement preventing former employees from making disparaging statements about their previous employer after employment termination.
find out more
Lease Termination And Release Agreement
An Indian law-compliant agreement that formally terminates a lease between landlord and tenant, establishing termination terms and mutual release of obligations.
find out more
Cancellation Agreement And Mutual Release
An Indian law-governed agreement that terminates existing contractual relationships and provides mutual releases from future claims between parties.
find out more
Termination Of Sale Agreement
A legal document under Indian law that terminates an existing sale agreement, outlining settlement terms and mutual releases between parties.
find out more
Lease Termination Due To Fire
An Indian law-compliant document that formally terminates a lease agreement following fire damage to the leased property, addressing all related settlements and obligations.
find out more
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)