This document serves as a comprehensive legal agreement used when terminating employment relationships due to redundancy in Canada. A Redundancy Settlement Agreement is typically implemented during organizational restructuring, downsizing, or when positions become redundant due to operational changes. It provides legal protection for both employer and employee by clearly documenting all aspects of the separation, including financial compensation, ongoing obligations, and legal releases. The agreement must comply with both federal and provincial employment standards, particularly regarding minimum notice periods and severance calculations. It's essential for documenting the termination process, ensuring compliance with Canadian employment laws, and minimizing the risk of future legal disputes.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Brief context of the employment relationship, including start date, position, and reason for redundancy
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Termination Date: Clear statement of the effective date of employment termination
5. Settlement Payments: Detailed breakdown of all payments including statutory severance, notice pay, and additional compensation
6. Tax Treatment: Specification of tax handling for various payment components
7. Release of Claims: Employee's waiver of legal claims against the employer, subject to statutory limitations
8. Company Property: Requirements for return of company property and confidential information
9. Confidentiality: Terms regarding confidentiality of the agreement and company information
10. Reference: Terms regarding employment references and internal/external communications about the departure
11. Acknowledgments: Employee's confirmation of understanding and voluntary acceptance
12. Governing Law: Specification of applicable Canadian provincial law
13. Execution: Signature blocks and execution requirements
1. Non-Competition: Restrictions on future employment, if applicable and enforceable under provincial law
2. Non-Solicitation: Restrictions on soliciting employees or customers, if applicable
3. Benefits Continuation: Terms for extending health benefits or other perks beyond termination
4. Outplacement Services: Details of any career transition support provided
5. Stock Options/RSUs: Treatment of outstanding equity compensation
6. Pension Arrangements: Special provisions regarding pension or retirement benefits
7. Legal Fees: Terms regarding payment of employee's legal fees for review of agreement
8. Re-employment: Terms regarding potential future re-employment with the company
9. Mutual Non-Disparagement: Mutual agreements regarding non-disparagement
10. Immigration Assistance: Support regarding work permits or immigration status, if applicable
1. Schedule A - Payment Calculation: Detailed breakdown of all payment components including statutory and enhanced severance
2. Schedule B - Benefits Summary: Details of benefits continuation and termination dates
3. Schedule C - Company Property Inventory: List of company property to be returned
4. Schedule D - Release of Claims: Detailed release language as required by provincial law
5. Schedule E - Reference Letter: Agreed form of reference letter if applicable
6. Schedule F - Outstanding Equity Compensation: Details of stock options, RSUs or other equity compensation treatment
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