Personal Settlement Agreement Template for New Zealand

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Key Requirements PROMPT example:

Personal Settlement Agreement

"I need a Personal Settlement Agreement under New Zealand law for resolving an employment dispute with my former employer, including a settlement payment of NZD 75,000, confidentiality provisions, and an agreed reference letter, with completion targeted for March 15, 2025."

Document background
The Personal Settlement Agreement is a crucial legal instrument used in New Zealand to formalize the resolution of disputes between parties, whether arising from employment relationships, commercial interactions, or personal matters. This document is typically employed when parties have reached an agreement to settle their differences outside of court proceedings or as part of a mediated resolution. It encompasses essential elements such as financial terms, mutual releases, confidentiality provisions, and specific obligations, all drafted in compliance with New Zealand legislation, including the Contract and Commercial Law Act 2017, Employment Relations Act 2000, and Privacy Act 2020. The agreement serves to provide clarity and certainty to all parties while preventing future litigation on the settled matters.
Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including their legal status and contact details

2. Background: Outlines the context and circumstances leading to the settlement agreement

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

4. Settlement Terms: Details the core settlement provisions, including any payments, actions, or obligations

5. Payment Terms: Specifies the amount, timing, and method of any settlement payments

6. Release and Discharge: Mutual release of claims and obligations between the parties

7. Confidentiality: Obligations regarding the confidentiality of the settlement and its terms

8. Non-Disparagement: Mutual agreements not to make negative statements about other parties

9. Tax Treatment: Clarification of tax implications and responsibilities

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

11. Governing Law: Specifies New Zealand law as governing the agreement

12. Execution: Signature blocks and execution requirements

Optional Sections

1. Continuing Obligations: Used when certain obligations from prior agreements need to remain in force

2. Return of Property: Include when there is company or personal property to be returned

3. Future Cooperation: When ongoing cooperation between parties is required for specific matters

4. Non-Admission of Liability: Include when parties wish to explicitly state the settlement is not an admission of wrongdoing

5. Reference Provision: Used in employment-related settlements to specify terms of future references

6. Intellectual Property Rights: Include when IP ownership or rights need to be addressed

7. Legal Advice: Acknowledgment of independent legal advice when required by circumstances

8. Variation: Include when parties want specific terms about how the agreement can be modified

9. Severability: Include when parties want to ensure partial invalidity doesn't void entire agreement

Suggested Schedules

1. Schedule 1 - Payment Details: Detailed breakdown of settlement payments and payment schedule

2. Schedule 2 - Claims Released: Comprehensive list of specific claims being settled and released

3. Schedule 3 - Property Register: Itemized list of any property to be returned or transferred

4. Appendix A - Deed of Release: Formal deed of release if required separately

5. Appendix B - Resignation Letter: Template or copy of resignation letter if employment-related

6. Appendix C - Statement of Facts: Agreed statement of facts if required for external use

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

Legal Services

Professional Services

Healthcare

Education

Financial Services

Technology

Manufacturing

Retail

Construction

Public Sector

Non-Profit Organizations

Transportation

Hospitality

Relevant Teams

Human Resources

Legal

Compliance

Risk Management

Executive Leadership

Operations

Finance

People and Culture

Industrial Relations

Dispute Resolution

Relevant Roles

Human Resources Manager

Legal Counsel

Employment Relations Manager

Compliance Officer

Risk Manager

Chief Executive Officer

Operations Manager

Department Head

Human Resources Director

General Counsel

Chief Financial Officer

People and Culture Manager

Workplace Relations Advisor

Settlement Officer

Mediation Coordinator

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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