Deed of Release Example

This Deed of Release is made on 09 December 2022

Between Davina Pavich t/a Pavich Builders ABN
[Name, ACN] of [address] (the Applicant)
And George Pavich t/a Pavich Builders ABN
of [address] (the Respondent)
(the Parties)

Background:

A. This heads of agreement is the result of a negotiation between the parties.

B. The parties understand and acknowledge that this heads of agreement is not a legally
binding document.
C. The parties understand and acknowledge that signing this heads of agreement
indicates it accurately reflects the points of agreement created heads of agreement by
the parties in their negotiation.
D. The parties intend that all items covered in this heads of agreement will be
incorporated into an agreement drafted by their lawyers and that agreement will
become legally binding on the parties once the agreement is signed by the parties.

Settlement Agreement

The Applicant and the Respondent agree to fully settle the Application on the following
bases:

Payment

1. The Respondent will pay to the Applicant the amount of [$ ] gross (Settlement
Sum), taxed as an Employment Termination Payment, in addition to any other
monies previously paid to the Applicant by the Respondent.

2. The Respondent will pay the Settlement Sum to the Applicant within [ ] days of the
Parties signing this Deed.

3. The Respondent will pay the Settlement Sum to the Applicant's nominated financial
account by electronic transfer:

Account name:
Name of bank:

753810484.docx Page
© The College of Law Limited
 BSB:
Account number:

Release
4. On the Respondent complying with clauses 1 to 3, the Applicant agrees to release
and forever discharge the Respondent, its directors, employees, assignees or
successors from any liability past, present or future, from all claims, actions or
proceedings arising out of the Applicant’s employment.

5. The release in clause 4 does not prevent the Applicant from directly or indirectly
pursuing claims, actions or proceedings in relation to the payment of wages and/or
entitlements arising under statute, an industrial instrument or common law.

6. The Respondent agrees to release and forever discharge the Applicant from any
liability past, present or future, from all claims, actions or proceedings arising out of
the Applicant’s employment.

7. This Deed does not affect any rights that the Applicant has or may have under any
statute, an industrial instrument, or common law for a work- related injury, illness,
disease or death or under any superannuation legislation.

Costs
8. Each party must pay its own legal costs of and incidental to the Application and this
Deed.

Confidentiality
9. The Applicant and the Respondent must keep the provisions of this Deed
confidential, provided that the Applicant and the Respondent may disclose the
provisions to their legal or financial advisers or any other person that the Applicant
and Respondent must by law inform.
Non Disparagement
10. The Applicant agrees not to make any disparaging comments or statements about
the Respondent’s business or officers.

11. The Respondent agrees not to make any disparaging comments or statements about
the Applicant.

12. The Respondent agrees it will use all reasonable endeavours to ensure that its
employees and agents will not make, cause to be made or be associated with any
comment or statement that disparages the Applicant.
.
Notice of Discontinuance
13. The Applicant will file a Notice of Discontinuance of the Application in the Fair Work
Commission within [ ] days of the Respondent complying with clauses 1 to 3.
Counterparts
14. This Deed may be executed in counterparts.
Governing Law

753810484.docx Page
© The College of Law Limited
 15. Each party agrees to submit to the jurisdiction of the Federal Courts.

Execution Page

Executed as agreement Deed of Release by

_____________________________
[name]

in the presence of

_____________________________

XXXXXX

Witness Name:
Witness Address:

and

Executed by [name] in accordance with s127(1) of the Corporations Act

_____________________________
[Name of Director]
Sole Director/Secretary

753810484.docx Page
© The College of Law Limited
753810484.docx Page
© The College of Law Limited