| Between |
|
| ................................................... |
(hereinafter referred to as "employer") |
| and Ms/Mr |
|
| ................................................... |
(hereinafter referred to as "employee") |
the following SEVERANCE AGREEMENT is concluded:
Article 1 Termination of the employment relationship
The employment contract between the parties dated ............... is terminated at the instigation of the employer, but by mutual agreement.
The employment relationship ends at the end of ................ .
Article 2 Leave of absence/remaining leave/time credits
There is agreement that holiday entitlements in the amount of ............... days/overtime/flexitime credits in the amount of ............... are outstanding. The holiday/overtime/flexitime credit is/are irrevocably granted and taken from ................ .
Subsequently, the employee is irrevocably released from his contractual obligations until the end of the contract with continued payment of the contractually agreed remuneration/a remuneration of EUR ............... per month. Other earnings are to be taken into account in accordance with § 615 sentence 2 of the German Civil Code (BGB). The employee is obliged to inform the employer of earnings earned elsewhere without being asked to do so.
Alternativ
Optional: Turboklausel
The employee is entitled to terminate the employment relationship early subject to a notice period of ........... weeks in writing. In this case, the employer shall pay the gross remuneration released from the date of termination until the date specified under Article 1/an amount of EUR ............... per month of premature termination as additional severance pay in accordance with Article 3. Pro rata periods are taken into account on a pro rata basis. Early termination is in the interests of the employer.
Article 3 Severance Pay
For the loss of the job, the employee receives a social severance pay in the amount of EUR ............... in accordance with §§ 9 and 10 of the German Dismissal Protection Act (KSchG).
The claim has arisen and is inheritable and becomes due for payment upon legal termination of the employment relationship. Any taxes incurred are borne by the employee.
In the event of premature termination of the employment relationship for other reasons, the entitlement to severance pay shall lapse.
Article 4 Variable remuneration/profit sharing/bonus
Alternativ
Variante 1: Fortzahlung der variablen Vergütung
The variable remuneration [...............] shall be paid in accordance with the contractual agreement until the end of the employment relationship.
Alternativ
Variante 2: Pauschale Abgeltung der variablen Vergütung
The variable remuneration [...............] shall be paid until the end of the employment relationship in the amount of EUR ............... gross as a lump sum.
Alternativ
Variante 3: Entfall der variablen Vergütung
The variable remuneration [...............] will no longer apply from ................ .
Alternativ
Optional: Festsetzung der Gewinnbeteiligung
The employee receives a profit share for the financial year/calendar year ............... in the amount of ............... % of the annual profit / of the ................ The profit share is paid pro rata at XX/12 due to the termination of the employment relationship and is due after the end of the financial year and preparation of the commercial balance sheet.
Alternativ
Optional: Entfall/Abgeltung der Gewinnbeteiligung
The employee's entitlement to profit sharing is cancelled for the year ............... /is paid as a lump sum of EUR ............... .
Article 5 Bonuses
Alternativ
Variante 1: Vollständige Auszahlung
The agreed bonus [...............] for the year ............... will be paid in full on ................ .
Alternativ
Variante 2: Entfall
The agreed bonus payment for the year ............... is cancelled due to the termination of the employment relationship [...............].
Alternativ
Variante 3: Gekürzte Abgeltung
Due to the termination of the employment relationship, the contractually agreed bonus [...............] for the year ............... will only be paid in the amount of EUR ............... on ................ .
Article 6 Company pension scheme
Alternativ
Variante 1: Nichtbestehen von Ansprüchen
The parties agree that the employee has not acquired a vested entitlement to a company pension.
Alternativ
Variante 2: Bestehen von Ansprüchen
The employer issues the employee with a certificate of vested entitlement to a company pension in accordance with § 4a subpara. 1 of the Germany Company Pensions Act (BetrAVG).
Alternativ
Variante 3: Direktversicherung
Upon termination of the employment relationship, the employee is entitled to continue the direct insurance taken out with ..............., contract number: ............... at his own expense.
Alternativ
Variante 4: Abfindung der Ansprüche
The parties agree that the employee's entitlement to the company pension scheme is EUR ............... per month. It is agreed to settle the claim i...