A Redundancy Agreement is a crucial document used in Austrian employment law when terminating employment relationships due to organizational restructuring, economic conditions, or other business-related reasons. This agreement serves as a formal record of the mutually agreed terms of separation between employer and employee, ensuring compliance with Austrian labor regulations. The document typically includes details about severance payments, notice periods, final settlements, and ongoing obligations of both parties. It must align with various Austrian legislative requirements, including the Labor Constitution Act, Salaried Employees Act, and relevant social security regulations. The Redundancy Agreement is particularly important in Austria due to the country's structured approach to employment termination and the specific legal protections afforded to employees.
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1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant registration numbers
2. Background: Context of the redundancy, including reference to any relevant consultation processes or business circumstances
3. Definitions: Definitions of key terms used throughout the agreement
4. Termination Date: Specific date when employment will terminate and last working day if different
5. Payment Provisions: Details of all payments including final salary, severance pay (Abfertigung), and treatment of outstanding benefits
6. Tax Treatment: Clarification of tax handling for all payments under Austrian tax law
7. Company Property: Requirements for return of company property and handling of company information
8. Final Settlement: Confirmation that the agreement represents full and final settlement of all claims
9. Confidentiality: Obligations regarding confidentiality of the agreement and company information
10. Continuing Obligations: Any post-employment restrictions or ongoing obligations
11. Governing Law: Confirmation that the agreement is governed by Austrian law
12. Signatures: Execution section including date and signatures of all parties
1. Works Council Acknowledgment: Required when a works council exists and has been involved in the redundancy process
2. Garden Leave: Used when the employee will be placed on garden leave during the notice period
3. Reference Letter: Terms regarding the provision of a reference letter (Arbeitszeugnis)
4. Outplacement Support: Details of any career transition or outplacement services being provided
5. Insurance Continuation: Terms for continuation of any insurance benefits post-employment
6. Stock Options/Benefits: Treatment of any outstanding stock options or long-term benefits
7. Legal Fees: Terms regarding payment of legal fees for reviewing the agreement
8. Non-Compete Provisions: Post-employment competition restrictions, if applicable under Austrian law
1. Schedule 1 - Payment Calculation: Detailed breakdown of all payments including severance pay calculation
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Benefits Summary: Summary of treatment of various benefits and entitlements
4. Appendix A - Release of Claims: Detailed release of claims under Austrian law
5. Appendix B - Data Privacy Notice: Information about handling of personal data post-employment
6. Appendix C - Reference Letter Draft: Draft of the agreed reference letter, if applicable
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