The Termination Agreement is a crucial document used in Switzerland when an employer and employee mutually agree to end their employment relationship or formalize the terms of a termination. It's particularly relevant in situations involving senior executives, sensitive departures, or complex compensation arrangements. The document must comply with Swiss employment law, specifically the Swiss Code of Obligations (OR), and typically includes comprehensive provisions covering financial settlements, ongoing obligations, and mutual releases. This type of agreement is often used to prevent future disputes by clearly documenting all termination terms and ensuring both parties understand their rights and obligations. The agreement can be particularly important in cases involving severance payments, continuing benefits, or post-employment restrictions.
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1. Parties: Identification of the employer and employee with full legal names and addresses
2. Background: Brief overview of the employment relationship, including start date and current position
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Clear statement of when the employment relationship will end
5. Final Salary and Benefits: Details of final salary payment, pro-rated bonus if applicable, and treatment of benefits
6. Holiday Entitlement: Settlement of remaining vacation days and any compensation for unused vacation
7. Company Property: Requirements and timeline for returning company property
8. Final Release: Mutual release of claims between parties
9. Confidentiality: Ongoing obligations regarding confidential information
10. References: Agreement on the nature and content of employment references
11. Governing Law: Confirmation of Swiss law as governing law and jurisdiction
12. Entire Agreement: Standard clause confirming this agreement supersedes previous agreements regarding termination
13. Counterparts: Provision for signing in multiple counterparts if needed
1. Garden Leave: Include when employee is to remain employed but not required to work during notice period
2. Post-termination Restrictions: Include when enforcing or modifying existing non-compete or non-solicitation clauses
3. Severance Payment: Include when additional compensation beyond statutory requirements is being offered
4. Ongoing Benefits: Include when certain benefits will continue post-termination
5. Legal Fees: Include when employer is contributing to employee's legal fees for reviewing agreement
6. Public Announcement: Include when parties agree on how to communicate the departure internally/externally
7. Outplacement Support: Include when employer is providing career transition services
8. Share Options/Awards: Include when dealing with existing equity compensation
9. Insurance Continuation: Include when addressing ongoing insurance coverage arrangements
1. Schedule 1 - Calculation of Final Payment: Detailed breakdown of final salary, bonuses, and other payments
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Existing Restrictive Covenants: Copy of relevant clauses from employment contract that survive termination
4. Schedule 4 - Form of Reference: Agreed text of employment reference
5. Schedule 5 - Benefits Summary: Detailed list of benefits and their treatment post-termination
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