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Severance Pay Contract
I need a Severance Pay Contract for a senior executive in our Dubai tech company who is being made redundant effective March 15, 2025, including specific provisions for stock options and annual bonus pro-rating.
1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant identification numbers
2. Background: Context of the severance agreement, including reference to the original employment contract and reason for termination
3. Definitions: Key terms used in the agreement including 'Basic Salary', 'Gross Salary', 'Service Period', and other relevant terminology
4. Calculation of Severance Pay: Detailed explanation of how the severance pay is calculated according to UAE Labor Law, including basic salary, length of service, and applicable multipliers
5. Payment Terms: Timing and method of severance payment, including any installment arrangements if applicable
6. Tax and Deductions: Statement regarding any applicable taxes or deductions from the severance amount
7. Full and Final Settlement: Confirmation that the payment represents full and final settlement of all claims
8. Confidentiality: Obligations regarding confidentiality of the severance terms and company information
9. Return of Company Property: Requirements for returning company assets and documents
10. Governing Law: Confirmation of UAE law application and jurisdiction
11. Execution: Signature blocks and execution requirements
1. Non-Competition and Non-Solicitation: Required when the employer wishes to enforce post-employment restrictions
2. Free Zone Specific Provisions: Required when employment is within DIFC or ADGM, incorporating specific free zone regulations
3. Voluntary Resignation Provisions: Included when the severance is due to voluntary resignation rather than termination
4. Medical Insurance Extension: Optional provision for continuing medical coverage post-employment
5. Reference and Recommendations: Terms regarding the provision of employment references
6. Outplacement Services: When the employer is providing career transition support
7. Dispute Re红杏直播: Specific dispute re红杏直播 procedures beyond standard court jurisdiction
1. Schedule 1 - Severance Calculation Breakdown: Detailed mathematical calculation of the severance amount including basic salary, service years, and any additional benefits
2. Schedule 2 - Outstanding Benefits Statement: List of any additional payments such as accrued leave, pro-rated bonuses, or other benefits
3. Schedule 3 - Company Property Checklist: Itemized list of company property to be returned
4. Appendix A - Original Employment Contract: Copy of the original employment contract referenced in the severance agreement
5. Appendix B - Resignation/Termination Letter: Copy of the formal termination or resignation documentation
6. Appendix C - Employee Clearance Form: Standard company clearance form confirming return of assets and settlement of dues
Authors
Banking & Financial Services
Technology
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Healthcare
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Manufacturing
Professional Services
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Education
Telecommunications
Media & Entertainment
Transport & Logistics
Government & Public Sector
Human Resources
Legal
Finance
Payroll
Compliance
Operations
Administration
Executive Leadership
Risk Management
Chief Executive Officer
Chief Human Resources Officer
HR Director
HR Manager
Legal Counsel
Employment Lawyer
Compensation & Benefits Manager
HR Business Partner
Finance Director
Payroll Manager
Compliance Officer
Operations Director
Department Head
Line Manager
Administrative Officer
Find the exact document you need
Severance Pay Contract
UAE-governed agreement outlining severance payment terms and conditions in compliance with Federal Decree-Law No. 33 of 2021.
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UAE-compliant agreement for consensual termination of employment relationship, outlining termination terms and final settlements under UAE labor law.
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UAE-governed employment separation agreement documenting layoff terms, final settlements, and mutual obligations under UAE Labor Law.
Mutual Severance Agreement
UAE-compliant agreement documenting mutually agreed employment termination terms and conditions between employer and employee.
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