The Severance Payment Agreement is a crucial document used in Canadian employment law contexts when an employer terminates an employee's employment without cause or when negotiating a mutual separation. This agreement serves to document the final settlement between the parties, including all financial and non-financial aspects of the separation. It must comply with federal legislation such as the Canada Labour Code and Income Tax Act, as well as applicable provincial employment standards. The agreement typically includes detailed provisions for severance calculation, payment terms, tax treatment, benefit continuation, and mutual releases. It's essential for risk management and provides legal certainty for both parties by clearly documenting all aspects of the separation arrangement and preventing future disputes.
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Key Requirements PROMPT example:
Severance Payment Agreement
"I need a Severance Payment Agreement for a senior software developer in Toronto who will be terminated due to company restructuring effective March 1, 2025, including provisions for continued health benefits for 6 months and accelerated vesting of stock options."
1. Parties: Identification of the employer and employee entering into the agreement
2. Background: Context of the agreement, including employment history and reason for termination
3. Definitions: Key terms used throughout the agreement
4. Severance Payment: Details of the severance amount, payment schedule, and tax treatment
5. Release of Claims: Employee's release of legal claims against the employer
6. Confidentiality: Obligations regarding confidentiality of the agreement and company information
7. Return of Property: Requirements for returning company property
8. References: Terms regarding employment references and future communications
9. Governing Law: Applicable jurisdiction and legal framework
10. General Provisions: Standard contract clauses including entire agreement, amendments, and severability
11. Execution: Signature blocks and date of agreement
1. Continued Benefits: Terms for continuation of health benefits or other perks
2. Non-Competition: Restrictions on future employment with competitors
3. Non-Solicitation: Restrictions on soliciting employees or customers
4. Outplacement Services: Provisions for career transition assistance
5. Equity Compensation: Treatment of stock options or other equity-based compensation
6. Cooperation: Requirements for assistance with transition or future matters
7. Immigration Status: Implications for work permits or immigration status if applicable
8. Pension and Retirement Benefits: Special provisions regarding pension or retirement plans
1. Schedule A - Severance Calculation: Detailed breakdown of severance payment calculation
2. Schedule B - Benefits Summary: Details of any continued benefits and their duration
3. Schedule C - Outstanding Obligations: List of any remaining obligations or commitments
4. Appendix 1 - Release Agreement: Detailed release of claims document
5. Appendix 2 - Confidential Information: Definition and scope of confidential information
6. Appendix 3 - Company Property List: Inventory of company property to be returned
Authors
Relevant legal definitions
Clauses
Relevant Industries
Technology
Financial Services
Manufacturing
Retail
Healthcare
Professional Services
Energy
Transportation
Construction
Education
Telecommunications
Mining
Real Estate
Agriculture
Media and Entertainment
Relevant Teams
Human Resources
Legal
Finance
Payroll
Compliance
Executive Leadership
Risk Management
Corporate Governance
Employee Relations
Relevant Roles
Chief Executive Officer
Chief Human Resources Officer
Human Resources Director
Legal Counsel
Employment Lawyer
HR Manager
Compensation and Benefits Manager
HR Business Partner
Chief Financial Officer
Finance Director
Payroll Manager
Risk Manager
Compliance Officer
Department Manager
Executive Assistant
Find the exact document you need
Executive Compensation Contract
Canadian-law governed agreement establishing employment terms and compensation structure for executive positions, including salary, bonuses, and benefits.
find out more
Deferred Compensation Agreement
A Canadian-law governed agreement establishing terms for deferring employee compensation to future dates, including payment conditions and tax implications.
find out more
Transaction Bonus Agreement
A Canadian-law agreement establishing terms for paying key employees a special bonus upon completion of a corporate transaction.
find out more
Employee Compensation Agreement
A Canadian-law governed agreement establishing comprehensive compensation terms between employer and employee, including salary, benefits, and other forms of remuneration.
find out more
Deferred Compensation Agreement Form
A Canadian-law governed agreement establishing terms for deferring employee compensation to a future date, including tax compliance and distribution conditions.
find out more
Employee Compensation Contract
A legally binding agreement outlining employee compensation terms and benefits in accordance with Canadian employment law.
find out more
Employee Equity Compensation Agreement
A Canadian-law governed agreement establishing terms for employee equity compensation, including grant details, vesting conditions, and regulatory compliance requirements.
find out more
Executive Retention Bonus Agreement
A Canadian law-governed agreement establishing terms for executive retention bonuses, including payment conditions, performance requirements, and protection measures for both parties.
find out more
Executive Bonus Agreement
A Canadian-law governed agreement establishing executive bonus compensation terms, including performance metrics, payment conditions, and regulatory compliance requirements.
find out more
Compensation Reduction Agreement
A Canadian-law governed agreement documenting voluntary compensation reduction between employer and employee(s), detailing reduction terms while maintaining other employment conditions.
find out more
Retention Bonus And Severance Agreement
Canadian-law governed agreement establishing retention bonus terms and severance arrangements between employer and key employee, ensuring statutory compliance while offering competitive benefits.
find out more
Executive Compensation Agreement
A Canadian-law governed agreement establishing comprehensive terms for executive employment and compensation, including all forms of remuneration and employment conditions.
find out more
Employee Stipend Agreement
A Canadian-law governed agreement establishing terms for employee stipend payments, including amount, eligibility, and conditions.
find out more
Employee Bonus Incentive Agreement
A Canadian-law governed agreement establishing terms and conditions for employee bonus incentives, including calculation methods, eligibility criteria, and payment terms.
find out more
Incentive Bonus Agreement
A Canadian-law governed agreement establishing terms and conditions for employee performance-based bonus compensation, including eligibility, metrics, and payment terms.
find out more
Contractor Compensation Agreement
Canadian-law governed agreement establishing compensation terms and conditions for independent contractors, including payment structure and service scope.
find out more
Referral Compensation Agreement
A Canadian agreement establishing terms for referral compensation, including qualification criteria, payment structure, and compliance with federal and provincial regulations.
find out more
Independent Contractor Compensation Agreement
A Canadian-law governed agreement establishing the compensation and terms for independent contractor services, defining the business relationship while ensuring proper contractor classification.
find out more
Transition Bonus Agreement
Canadian-law governed agreement establishing terms for a transition bonus payment, including amount, conditions, and performance expectations.
find out more
Severance Payment Agreement
A Canadian-law governed agreement detailing severance terms and conditions between employer and employee upon employment termination.
find out more
Employee Incentive Agreement
A Canadian-law governed agreement establishing terms for employee performance-based compensation and rewards programs, including eligibility, metrics, and payment conditions.
find out more
Severance Pay Non Compete Agreement
A Canadian legal agreement combining severance payment terms with non-compete provisions, subject to provincial employment standards and recent legislative reforms regarding restrictive covenants.
find out more
Salary Deferral Agreement
A Canadian legal agreement enabling employees to defer portions of their salary to future dates, structured in compliance with Canadian tax laws and employment regulations.
find out more
Compensation For Non Compete Agreement
A Canadian legal agreement providing compensation in exchange for an individual's commitment not to compete with their former employer, subject to provincial and federal regulations.
find out more
Employee Retention Bonus Agreement
A Canadian-law governed agreement establishing terms for employee retention bonus payments, including amount, conditions, and repayment terms.
find out more
Employee Bonus Agreement
A Canadian legal agreement establishing terms and conditions for employee bonus compensation, including eligibility, calculation methods, and payment terms.
find out more
Hiring Bonus Agreement
A Canadian-law governed agreement establishing terms and conditions for payment of a hiring bonus to a new employee, including payment terms and repayment obligations.
find out more
Commission Pay Agreement
A Canadian-compliant agreement establishing commission-based compensation terms between employer and employee/contractor, including payment structures and performance terms.
find out more
Deferred Salary Agreement
A Canadian law-governed agreement establishing terms for salary deferral and subsequent paid leave arrangements between employer and employee.
find out more
Equity Grant Agreement
A Canadian legal agreement outlining terms and conditions for granting company equity to employees or consultants, compliant with federal and provincial regulations.
find out more
Download our whitepaper on the future of AI in Legal
By providing your email address you are consenting to our Privacy Notice.
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 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
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a 拢1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.