Thank you for your kind words:
Being a small start-up company we find that individually crafted agreements are simply too expensive. But the requirements on all businesses, especially in the area of employment, mean that it is imperative that appropriate employment contracts, employee handbooks and associate documents are executed for the protection of both the company and the employee. We have used LawLive employment agreements extensively.
Alex Anderson - Integrated Software Solutions
Deed of Release Templates
Deeds of Release are used to formalise the end of a commercial relationship and are often used in the area of employment law. When the employment relationship is terminating either voluntarily or otherwise, a Deed of Release finalises all outstanding issues between the parties.
The Deeds of Release will usually include in the Recitals (or background information) that there has been a service or employment agreement, the basis for the termination and that the parties mutually agree to the terms in the Deeds of Release as full discharge. When dealing with the release of an executive or manager, a Deed of Release may also include specific undertakings in relation to the employer's Confidential Information which may include know-how, business records, customer lists and any other information which is the property of the employer. It is prudent on the part of the employer to include such undertakings in the Deeds of Release even though confidentiality undertakings may have been part of the original employment agreement because, as the original employment agreement is being terminated, the Deeds of Release ensures the employer's right to bring any action in contravention of those undertakings.
The Deeds of Release may also include a restraint clause prohibiting employment either geographically and/or in the same field of commerce, however care should be taken when drafting such a clause to ensure that it is not too onerous and therefore may be varied or be void. Specific legal advice should be sought on this as a valid restraint clause will depend on the employee's profession, how long he or she has worked for the outgoing employer and the position in which the employee was employed.
It is also prudent to ensure that the Deeds of Release protects the employer as much as possible from any future claim by the executive/employee. Note however that it may not be possible to contract out of some employer obligations in the future such as a claim under Workers Compensation legislation.
WHAT YOU NEED TO KNOW ABOUT RELEASES:
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