Deed of Release on Termination
Download Employment Deed of Release immediately in word format. Simply download edit, save and reuse as many times as you need.
ONLINE LEGAL DOCUMENTS
Deed of Release
A Deed of Release is a general release on termination of employment due to redundancy. Employee acknowledges acceptance of terms of redundancy
Employee undertakes to:
- return all property
- maintain confidentiality
- acknowledges they have had the opportunity to consider the package and obtain independent legal advice.
2 pages long
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Deed of Release on Termination of Employment
There are many reasons why you would enter into a deed of release. Entering into a deed of release will provide you with clarify your legal obligations. Furthermore, it will prevent the employee from commencing legal proceedings against you or your business.
1. What is a Deed of Release?
A deed of release is a legally binding agreement between an employee and employer following the employee’s termination.
A deed of release is beneficial to an employer as it usually prohibits former employees from commencing legal proceedings against them.
Parties can enter into a release as either an agreement or a deed.
An agreement is a contract, meaning that each party is required to provide something that benefits the other.
The benefit of entering into a deed instead of an agreement is that you don’t have to provide the employee with a settlement amount.
If included, you will not have any legal responsibility to any past, present or future claims arising from the employment.