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Vertaal Termination Agreement

(Last Updated On: October 14, 2021)

Until the date of termination, Mr de Groot receives his usual salary and remuneration. Until March 1, 2018, Mr. de Groot will continue to work as usual and will take care of a correct delivery of the work. From 1 March 2018 until the date of termination, Mr de Groot is completely exempt from work and the obligation to appear at work. During this exemption period, no replacement subsidies and travel expenses are due and no new days off are due. All other terms and conditions of employment shall remain in effect until the date of termination if this Agreement does not contain any other provision. Finito shall pay Mr de Groot, in addition to the redundancy payment referred to in Article 6, an incentive to terminate by mutual agreement in the gross amount of EUR 10 000 (EUR 10 000) within one month of the date of termination, if and to the extent that that settlement agreement is signed by Mr. de Groot and that Finito finally signed on February 15, 2018 will be made available. When the provisions of this contract are fulfilled, the parties grant each other the full and definitive discharge and confirm that there are no longer any rights to the employment contract, the termination of the employment relationship or other purposes. 1. The Parties shall refrain from making representations to third parties on the content of this Agreement and on the circumstances that led to this Agreement, with the exception of information that must be provided on the basis of the law. Mr de Groot may provide the UWV (the Netherlands Benefits Agency) with a copy of that agreement when applying for social security. – the parties stress that Mr de Groot cannot be held responsible for Mr de Groot`s initiative.

de Groot to terminate the employment contract and that the dismissal is not based on an urgent ground within the meaning of Article 7:678 of the Netherlands Civil Code (BW); That`s why Finito wanted to terminate his employment contract. At first, Mr de Groot opposed the resignation, but now he sees no other possible solution; In addition to the above-mentioned right of the worker to dissolve during the aforementioned period of reflection, the parties waive the right to terminate this settlement contract, to the extent permitted by law. – the parties sign this settlement agreement, in accordance with Article 7:900 and in accordance with the Dutch Civil Code, in order to avoid any uncertainty or dispute after legal consultation and careful balancing. Mr. De Groot was supported by De Graauw Legal; Finito pays to M. de Groot, within one month from the date of termination, a severance pay calculated on the basis of Article 7:673 Ducth Civil Code. No costs are deducted and no reductions are applied, including all allowances on the basis of Article 7: 673, 6, Civil Code. (1) The parties terminate the employment contract by mutual agreement at the initiative of the employer on 1 July 2018 (hereinafter the date of termination). The (fictitious) notice period, which in this case is the employer`s four-month notice period, was taken into account when setting that notice date.

Ultimately, on the day of dismissal, Mr. de Groot will return to the employer in good condition all the ownership of the business he acquired. The employee receives the correct receipt of the dismissal. 2. By way of derogation from Article 1.1, if Mr. de Groot accepts employment elsewhere prior to the termination date and no earlier than March 1, 2018, the employment contract terminates by mutual agreement on the date on which its employment relationship with the new employer begins (the “New Termination Date”). In this case, half of the remaining salary, including vacation pay and the year-end bonus for the period between the new termination date and the termination date of section 1.1, is added to the severance pay. The employer`s obligation to pay wages ends with the new date of dismissal. . . .

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