Contract And Release for Malta

Contract And Release Template for Malta

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Contract And Release

"I need a Contract and Release agreement under Maltese law for terminating an employee's contract by mutual consent, with a settlement payment of €50,000 to be paid by March 15, 2025, including standard confidentiality and non-disparagement provisions."

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What is a Contract And Release?

The Contract and Release agreement is a crucial legal instrument in Malta's commercial and civil landscape, designed to provide certainty and closure in various business and personal relationships. This document type is commonly used when parties wish to conclude a matter while establishing new obligations and simultaneously releasing certain claims or rights. It's particularly relevant in employment terminations, business relationship conclusions, dispute resolutions, and settlement agreements. Under Maltese law, a Contract and Release must comply with the Civil Code of Malta and related legislation, ensuring proper consideration is provided and all release provisions are clearly defined. The document is especially valuable in Malta's international business environment, where it can help facilitate clean breaks in commercial relationships while establishing clear frameworks for any continuing obligations. It must be carefully drafted to ensure enforceability and clarity, particularly regarding the scope of the release and any surviving obligations.

What sections should be included in a Contract And Release?

1. Parties: Identifies and defines the contracting parties with their full legal names, addresses, and registration details if applicable

2. Background: Sets out the context and circumstances leading to the agreement, including any pre-existing relationships or disputes

3. Definitions: Defines key terms used throughout the agreement for clarity and precision

4. Consideration: Details the payment or other valuable consideration being provided in exchange for the release

5. Release Provisions: Specifies the exact scope of claims, rights, or obligations being released

6. Representations and Warranties: States the facts and assurances each party provides to the other

7. Confidentiality: Sets out obligations regarding the confidentiality of the agreement and its terms

8. Non-Admission of Liability: Clarifies that the agreement does not constitute an admission of liability by either party

9. Governing Law and Jurisdiction: Specifies that Maltese law governs the agreement and establishes jurisdiction for disputes

10. Entire Agreement: Confirms that this document represents the complete agreement between the parties

11. Execution: Provides for the formal signing of the agreement by all parties

What sections are optional to include in a Contract And Release?

1. Non-Disparagement: Prohibits parties from making negative statements about each other - typically included in employment-related releases

2. Return of Property: Required when there is company property or confidential information to be returned

3. Tax Implications: Addresses responsibility for tax consequences when significant payments are involved

4. Future Cooperation: Included when ongoing cooperation between parties is needed for specific matters

5. Revocation Period: Required in employment-related agreements where statutory cooling-off periods apply

6. Insurance Claims: Needed when insurance policies or claims are relevant to the release

7. Third Party Rights: Required when the release affects rights of parties not directly signing the agreement

What schedules should be included in a Contract And Release?

1. Schedule of Claims: Detailed list of specific claims or disputes being released

2. Payment Schedule: Details of payment amounts, dates, and methods if payment is to be made in installments

3. Property Inventory: List of any property to be returned or transferred between parties

4. Related Agreements: List of any other agreements affected by or referenced in the release

5. Excluded Claims: Specific listing of any claims explicitly excluded from the release

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Relevant Industries

Financial Services

Gaming and Entertainment

Information Technology

Professional Services

Maritime and Shipping

Manufacturing

Real Estate

Healthcare

Construction

Retail and Consumer Goods

Education

Tourism and Hospitality

Telecommunications

Insurance

Banking

Relevant Teams

Legal

Human Resources

Executive Leadership

Compliance

Risk Management

Operations

Finance

Administrative

Corporate Governance

Business Development

Commercial Operations

Relevant Roles

Legal Counsel

HR Director

Chief Executive Officer

Chief Financial Officer

Compliance Officer

Risk Manager

Human Resources Manager

Contract Manager

Business Development Director

Operations Manager

Company Secretary

General Manager

Commercial Director

Settlement Officer

Legal Administrator

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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