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Employment Release Agreement

Employment Release Agreement Template for New Zealand

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Key Requirements PROMPT example:

Employment Release Agreement

"I need an Employment Release Agreement for a senior software developer in Auckland who is leaving voluntarily on March 15, 2025, with provisions for a 3-month non-compete clause and ongoing protection of intellectual property developed during employment."

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Document background
The Employment Release Agreement is a crucial legal document used in New Zealand when formally concluding an employment relationship. It is typically implemented during voluntary resignations, redundancies, or mutually agreed terminations, providing a comprehensive framework for the separation process. The agreement ensures compliance with New Zealand employment law, particularly the Employment Relations Act 2000, and addresses key aspects such as financial settlements, confidentiality, mutual releases, and ongoing obligations. This document serves to protect both employer and employee interests by clearly documenting the terms of separation and preventing future disputes. It should be customized based on specific circumstances while maintaining compliance with New Zealand employment regulations and best practices.
Suggested Sections

1. Parties: Identification of the employer and employee, including full legal names and addresses

2. Background: Brief history of employment relationship, reason for agreement, and context of the separation

3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty

4. Termination Date: Clear statement of when employment ends or ended

5. Settlement Payment: Details of all payments to be made, including final salary, notice pay, and special payments

6. Tax Treatment: Specification of how different payment components will be treated for tax purposes

7. Release of Claims: Mutual release of all claims between parties, subject to NZ law

8. Confidentiality: Obligations regarding confidentiality of agreement terms and company information

9. Return of Property: Requirements for returning company property and documents

10. Non-Disparagement: Mutual agreements not to make negative statements about each other

11. References: Agreement on the nature and content of employment references

12. Acknowledgments: Employee acknowledgments of understanding and voluntary acceptance

13. General Provisions: Standard contractual terms including governing law, entire agreement, and amendments

Optional Sections

1. Garden Leave: Used when employee is placed on paid leave during notice period

2. Post-Employment Restrictions: Include when implementing non-compete or non-solicitation provisions, if legally enforceable

3. Continuing Obligations: Reference to surviving clauses from employment agreement

4. Assistance with Transition: Terms for employee helping with handover of duties

5. Share Options/Benefits: Treatment of existing share options or long-term benefits

6. Legal Costs: Terms for payment of legal fees for agreement review

7. Outplacement Support: Details of any career transition services provided

8. Medical/Insurance Benefits: Continuation or termination of health benefits

9. Intellectual Property: Specific IP assignments or ongoing obligations

Suggested Schedules

1. Schedule 1 - Payment Calculations: Detailed breakdown of all payment components including salary, holiday pay, and special payments

2. Schedule 2 - Company Property: Itemized list of company property to be returned

3. Schedule 3 - Reference Letter: Agreed form of written reference

4. Schedule 4 - Announcement: Agreed internal and/or external announcement of departure

5. Schedule 5 - Outstanding Benefits: List of any benefits, share options, or entitlements and their treatment

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Financial Services

Technology

Manufacturing

Retail

Professional Services

Healthcare

Education

Construction

Hospitality

Mining

Agriculture

Telecommunications

Media

Transportation

Energy

Public Sector

Relevant Teams

Human Resources

Legal

Finance

Executive Leadership

Operations

Administration

Information Technology

Sales

Marketing

Research & Development

Customer Service

Compliance

Risk Management

Relevant Roles

Chief Executive Officer

Managing Director

Senior Manager

Department Head

Project Manager

Professional Staff

Technical Specialist

Sales Executive

Administrative Officer

Operations Manager

Financial Controller

Research Scientist

IT Manager

Marketing Manager

Human Resources Manager

Legal Counsel

Business Development Manager

Account Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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