The Termination Settlement Agreement (Vaststellingsovereenkomst) is a crucial document in Dutch employment law used when an employer and employee mutually agree to end their employment relationship. It serves as a comprehensive record of all termination conditions and protects both parties' interests. This document is particularly relevant in situations involving reorganizations, mutual separation decisions, or when parties wish to formalize departure terms without going through the UWV (Dutch employment agency) or court proceedings. The agreement must comply with strict Dutch legal requirements, including mandatory reflection periods and specific provisions about transition payments. It typically includes detailed financial arrangements, continuing obligations, and mutual releases, while ensuring all terms align with Dutch employment legislation and case law. The document is binding once the reflection period has passed without revocation.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of employment relationship, reason for termination, and basis for settlement
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date of employment termination and last working day
5. Financial Settlement: Details of all payments including salary, transition payment, and other compensation
6. Tax Treatment: Tax implications and agreements regarding payment treatments
7. Final Settlement of Accounts: Settlement of expenses, benefits, and other financial matters
8. Reflection Period: Mandatory 14-day reflection period under Dutch law
9. Release of Claims: Mutual release of claims and waiver of rights
10. References and Communications: Agreement on employment references and internal/external communications
11. Confidentiality: Ongoing confidentiality obligations
12. Return of Property: Process and timeline for returning company property
13. General Provisions: Standard contractual clauses including governing law, entire agreement, and amendments
14. Execution: Signature blocks and execution requirements
1. Ongoing Projects: Handover requirements for ongoing work, used when employee has active projects
2. Share Options/Benefits: Treatment of outstanding share options or benefits, included if employee has such arrangements
3. Non-Competition: Post-employment competition restrictions, used when new restrictions are agreed or existing ones modified
4. Non-Solicitation: Restrictions on soliciting employees/clients, used when such restrictions are agreed
5. Intellectual Property: Specific IP provisions, included when employee created/worked with significant IP
6. International Provisions: Special clauses for cross-border situations, used for international employees
7. Legal Fees: Provisions regarding payment of legal advisory fees, included if employer agrees to cover costs
8. Garden Leave: Terms of any garden leave period, included if employee won't work during notice period
9. Continuing Obligations: Any ongoing duties or responsibilities, used when post-termination obligations exist
1. Schedule 1 - Payment Calculations: Detailed breakdown of all payment components including salary, transition payment, and other benefits
2. Schedule 2 - Company Property Register: List of all company property to be returned
3. Schedule 3 - Outstanding Benefits: Detailed list of benefits and their treatment post-termination
4. Schedule 4 - Project Status Report: Status overview of ongoing projects requiring handover
5. Appendix A - Existing Restrictive Covenants: Copy of existing non-compete/non-solicitation obligations from employment contract
6. Appendix B - Reference Letter: Agreed form of employment reference
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