The Exit Agreement For Employees (Aufhebungsvertrag) is a crucial document in Austrian employment law, used when both employer and employee agree to terminate their employment relationship by mutual consent. This agreement is distinct from unilateral termination and offers more flexibility in terms of termination dates and conditions. It typically includes provisions for final payments, benefit settlements, and post-employment obligations, all structured to comply with Austrian labor laws. The document is particularly useful when parties wish to arrange an amicable separation that may deviate from standard notice periods or when special arrangements need to be documented. It provides legal certainty for both parties and helps prevent future disputes by clearly documenting all aspects of the separation.
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Key Requirements PROMPT example:
Exit Agreement For Employees
"I need an Exit Agreement For Employees under Austrian law for a senior software developer who will be leaving amicably on March 31, 2025, with garden leave starting February 1, 2025, and including provisions for ongoing support with knowledge transfer for three months post-termination."
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1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant registration numbers
2. Background: Brief context of the employment relationship, including start date and current position
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date when the employment relationship will end by mutual consent
5. Final Salary and Benefits: Details of the final regular salary payment, including pro-rata calculations
6. Severance Payment: Details of any severance payment (Abfertigung) and calculation method
7. Holiday Entitlement: Settlement of remaining vacation days and time-off credits
8. Company Property: Obligation to return all company property and timeline for return
9. Confidentiality: Ongoing obligations regarding confidential information
10. Final Release: Mutual waiver of claims related to the employment relationship
11. References: Employer's obligation to provide employment references (Arbeitszeugnis)
12. Governing Law: Confirmation that Austrian law governs the agreement
13. Entire Agreement: Statement that this document represents the complete agreement between parties
1. Garden Leave: Terms of garden leave if employee is released from duty until termination date
2. Post-contractual Non-compete: If applicable, terms of any continuing non-competition obligations
3. Handover Obligations: Specific requirements for handover of ongoing projects or responsibilities
4. Additional Benefits: Any special arrangements regarding company car, insurance, or other benefits
5. Share Options/Bonuses: Treatment of outstanding share options, bonus payments, or other incentive schemes
6. Legal Costs: Agreement on who bears the legal costs of preparing and reviewing the agreement
7. Works Council Statement: Reference to works council consultation if applicable
8. Pension Arrangements: Special provisions regarding company pension schemes or arrangements
1. Schedule 1 - Payment Calculation: Detailed breakdown of all final payments including salary, severance, and holiday pay
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Benefits Summary: Detailed list of benefits and their treatment post-termination
4. Appendix A - Data Privacy Notice: Information about handling of personal data post-employment
5. Appendix B - Certificate of Service Template: Draft of the agreed employment reference letter
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