The Severance Pay Non Compete Agreement is a crucial document used in the Netherlands when terminating employment relationships, particularly for positions with access to sensitive business information or significant client relationships. This agreement type combines two essential elements: compensation for employment termination and protection of business interests through post-employment restrictions. It must comply with Dutch employment law, including the Dutch Civil Code and Work and Security Act, which set specific requirements for both severance calculations and non-compete provisions. The document is typically used during negotiated exits or redundancy situations where the employer seeks to protect its business interests while ensuring fair compensation for the departing employee. The agreement includes detailed provisions on payment terms, restricted activities, geographical limitations, and duration of restrictions, all structured to meet Dutch legal requirements for enforceability.
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1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant registration numbers
2. Background: Context of the agreement, including reference to the termination of employment and mutual desire to establish post-employment obligations
3. Definitions: Key terms used throughout the agreement, including 'Restricted Period', 'Territory', 'Competitive Activities', 'Confidential Information', and 'Severance Payment'
4. Termination of Employment: Confirmation of employment termination date and general terms of separation
5. Severance Payment: Details of the severance amount, calculation method, payment schedule, and conditions for payment
6. Non-Compete Obligations: Specific restrictions on competitive activities, including scope, duration, and geographical limitations
7. Non-Solicitation: Restrictions on soliciting employees, customers, or business relations
8. Confidentiality: Obligations regarding confidential information and trade secrets
9. Consideration: Explicit acknowledgment that the severance payment serves as consideration for the non-compete obligations
10. Enforcement and Remedies: Consequences of breach and available remedies
11. General Provisions: Standard clauses including governing law, jurisdiction, amendment procedures, and severability
1. Garden Leave: Applicable if the employee is required to serve a garden leave period before the termination date
2. Company Property: Required if there are specific company assets or materials to be returned
3. Intellectual Property Rights: Necessary when the employee has been involved in creating IP during employment
4. References and Announcements: Include when parties agree on specific terms for employment references and public announcements
5. Continuing Obligations: Required when specific obligations from the employment contract continue post-termination
6. Tax Indemnity: Include when specific tax arrangements or indemnities are necessary
7. Legal Advice: Acknowledgment of independent legal advice, particularly important for enforceability in Dutch courts
1. Schedule 1 - Severance Payment Calculation: Detailed breakdown of severance payment calculation according to Dutch statutory requirements
2. Schedule 2 - Restricted Territory: Specific geographical areas covered by the non-compete restriction, including maps if necessary
3. Schedule 3 - Competitive Activities: Detailed list of prohibited activities and competing businesses
4. Schedule 4 - Company Customers and Business Relations: List of specific customers and business relations covered by non-solicitation provisions
5. Appendix A - Acknowledgment Form: Form for employee to acknowledge receipt of severance payment and acceptance of restrictions
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