The Non-Compete in Severance Agreement is a critical document used in Australian employment contexts when an employer wishes to protect their business interests while providing severance benefits to a departing employee. This document type is particularly relevant in situations involving senior executives, key personnel, or employees with access to sensitive information or important client relationships. It combines the elements of a standard severance agreement with specific non-compete provisions that restrict the employee's ability to compete with the former employer for a defined period and within a specified geographical area. The agreement must be carefully drafted to ensure enforceability under Australian law, considering both federal legislation (such as the Competition and Consumer Act 2010) and state-specific requirements. The document typically includes detailed provisions about severance compensation, which serves as consideration for the non-compete obligations.
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1. Parties: Identification of the employer and employee, including their full legal names and addresses
2. Background: Context of the agreement, including employment history and reason for separation
3. Definitions: Key terms used throughout the agreement, including 'Confidential Information', 'Competitive Activity', 'Restricted Period', and 'Restricted Territory'
4. Severance Payment: Details of the severance package, including amount, payment schedule, and conditions
5. Non-Compete Obligations: Specific restrictions on competitive activities, including duration and geographical scope
6. Non-Solicitation: Restrictions on soliciting employees, customers, or suppliers
7. Confidentiality: Obligations regarding confidential information and trade secrets
8. Acknowledgments: Employee's acknowledgment of reasonableness of restrictions and receipt of consideration
9. Enforcement: Rights and remedies in case of breach, including injunctive relief
10. Governing Law: Specification of Australian law and jurisdiction
11. Execution: Signature blocks and execution details
1. Garden Leave: Include when the employee will be paid but not required to work during the notice period
2. Return of Property: Include when there are specific company assets or documents to be returned
3. Mutual Release: Include when both parties agree to release each other from claims
4. Ongoing Cooperation: Include when employee's assistance may be needed for transition or future matters
5. Tax Treatment: Include when specific tax arrangements or implications need to be addressed
6. Independent Legal Advice: Include when specifically requiring confirmation of independent legal advice
7. Variation: Include when specific provisions for modifying the agreement may be needed
1. Schedule 1 - Severance Payment Details: Detailed breakdown of severance payment components and timing
2. Schedule 2 - Restricted Territory: Detailed description or map of geographical areas covered by non-compete
3. Schedule 3 - Restricted Activities: Comprehensive list of prohibited competitive activities
4. Schedule 4 - Company Information: Definition and examples of confidential information and trade secrets
5. Appendix A - Acknowledgment Form: Form for employee to acknowledge receipt of severance payment
6. Appendix B - Compliance Certificate: Template for periodic certification of compliance with non-compete obligations
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