A Termination Agreement is essential when concluding an employment relationship in Canada, whether through mutual agreement, without cause dismissal, or restructuring. This document must comply with minimum standards set by federal labor laws and provincial employment legislation, varying by jurisdiction. The agreement typically includes comprehensive details about severance packages, benefit continuations, and mutual releases, while ensuring all statutory requirements are met. It serves as a crucial risk management tool for employers while providing clarity and certainty for employees regarding their entitlements and obligations. The Termination Agreement should be carefully drafted to address specific provincial requirements, as employment law in Canada is primarily under provincial jurisdiction, with federal laws applying only to federally regulated industries.
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1. Parties: Identification of the employer and employee entering into the termination agreement
2. Background: Brief recital of employment history, current position, and mutual decision or reason for termination
3. Definitions: Key terms used throughout the agreement including 'Termination Date', 'Severance Payment', etc.
4. Termination of Employment: Statement of employment termination, specifying the effective date and nature of termination
5. Severance and Final Payment: Details of severance package, final salary, vacation pay, and other monetary entitlements
6. Release of Claims: Mutual release of claims between employer and employee
7. Return of Company Property: Requirements and timeline for returning company assets, documents, and information
8. Confidentiality: Ongoing obligations regarding confidential information and trade secrets
9. References: Agreement on the nature and content of employment references
10. Tax Matters: Treatment of payments for tax purposes and related obligations
11. General Provisions: Standard clauses including entire agreement, governing law, and amendments
1. Post-Employment Restrictions: Non-compete and non-solicitation provisions, if applicable to the employee's position and jurisdiction
2. Continuation of Benefits: Details of any extended health benefits, insurance coverage, or other benefits post-termination
3. Stock Options/Equity: Treatment of outstanding stock options, RSUs, or other equity compensation
4. Outplacement Services: Details of any career transition or outplacement support provided
5. Cooperation: Employee's agreement to assist with transition of duties or future inquiries
6. Re-Employment: Terms regarding potential future re-employment with the company
7. Legal Fees: Coverage of employee's legal fees for review of the agreement
8. Communications: Agreed messaging regarding the employee's departure
1. Schedule A - Severance Calculation: Detailed breakdown of severance payment calculation including salary, benefits, and other components
2. Schedule B - Company Property: Itemized list of company property to be returned
3. Schedule C - Outstanding Equity Details: List of outstanding stock options, RSUs, or other equity compensation and their treatment
4. Schedule D - Continuing Obligations: Reference to specific sections of employment agreement that survive termination
5. Schedule E - Release: Detailed form of release if not included in main agreement body
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Healthcare
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Energy
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Telecommunications
Mining
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Hospitality
Media and Entertainment
Relevant Teams
Human Resources
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Executive Leadership
Operations
Administration
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Relevant Roles
Chief Executive Officer
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Senior Manager
Department Head
Project Manager
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Operations Director
Marketing Manager
Financial Analyst
Administrative Assistant
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