The Redundancy Settlement Agreement (Vaststellingsovereenkomst) is a crucial document in Dutch employment law used when terminating employment relationships through mutual consent due to redundancy. It is typically employed in situations of business restructuring, economic downturn, or organizational change where positions become redundant. The document serves to protect both employer and employee interests by clearly documenting all termination conditions, including statutory entitlements under Dutch law such as the transition payment, notice periods, and final settlements. It must comply with Dutch employment legislation, particularly the Work and Security Act and the Dutch Civil Code, and includes a mandatory 14-day reflection period during which the employee can revoke their consent. This agreement is essential for providing legal certainty and preventing future disputes, while ensuring all statutory and contractual obligations are properly addressed.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of the employment relationship, including start date, position, and reason for redundancy
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specified end date of employment and confirmation of mutual agreement
5. Final Settlement: Details of the severance package, transition payment, and any additional compensation
6. Payment Terms: Timing and method of severance payment, tax treatment, and any installment arrangements
7. Final Salary and Benefits: Treatment of salary, bonuses, vacation days, and other benefits up to termination
8. Company Property: Requirements for returning company property and handling of digital assets
9. Confidentiality: Ongoing obligations regarding confidential information
10. Full and Final Settlement: Mutual release of claims and waiver of rights
11. Reflection Period: Statutory 14-day reflection period under Dutch law
12. Reference and Communications: Agreement on employment references and internal/external communications
13. Governing Law: Confirmation of Dutch law governance and jurisdiction
14. Execution: Signature blocks and date of agreement
1. Post-Employment Restrictions: Non-compete and non-solicitation clauses, if applicable and previously agreed in employment contract
2. Ongoing Benefits: Continuation of specific benefits post-employment, such as insurance or car lease
3. Share Options/Incentives: Treatment of existing share options, bonus schemes, or other incentive plans
4. Legal Fees: Agreement on payment of employee's legal fees for reviewing the agreement
5. Outplacement Support: Details of any career transition or outplacement services provided
6. Training Costs: Treatment of any outstanding training costs or education investments
7. Garden Leave: Terms of any garden leave period before termination date
8. Directors' Resignation: Required for employees who also hold director positions, including corporate governance implications
1. Schedule 1 - Calculation of Payments: Detailed breakdown of all payments including statutory transition payment, notice period, and other components
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Benefits Summary: Detailed overview of treatment of all benefits and arrangements
4. Appendix A - Certificate of Service: Draft reference letter or certificate of service
5. Appendix B - Resignation Letter: Template resignation letter for employee signature
6. Appendix C - Tax Indemnity: Detailed tax treatment agreement and related indemnities
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