Glossary entry

French term or phrase:

Covention de sortie

English translation:

(corp.) Exit Arrangement; (pers. employment) Severance Agreement

Added to glossary by Adrian MM.
Oct 21, 2023 05:21
7 mos ago
24 viewers *
French term

Covention de sortie

French to English Law/Patents Law: Contract(s) Three-party agreement
Il est, par ailleurs, précisé, conformément à la convention de sortie conclue entre COMPAGNIE et XYZ, que YHG restera solidairement responsable en cas de non-respect par COMPAGNIE et ce aussi longtemps et à condition que tant COMPAGNIE et XYZ participent tous deux à ces plans et ce pour les droits que le Cadre pouvait faire valoir à son égard sur base des plans de pension applicables.
Change log

Oct 22, 2023 12:41: Adrian MM. changed "Edited KOG entry" from "<a href="/profile/1845319">Chakib Roula's</a> old entry - "Covention de sortie"" to ""(corporate) Exit Arrangemnent; (personal employment) Severance Agreement""

Discussion

Chakib Roula (asker) Oct 21, 2023:
@AllegroTrans
Here an excerpt: Il est, par ailleurs, précisé, conformément à la convention de sortie conclue entre COMPAGNIE 1 et COMPAGNIE 2, que COMPAGNIE 2 restera solidairement responsable en cas de non-respect par COMPAGNIE1 et ce aussi longtemps et à condition que tant COMPAGNIE 1 et COMPAGNIE 2 participent tous deux à ces plans et ce pour les droits que le Cadre pouvait faire valoir à son égard sur base des plans de pension applicables.

AllegroTrans Oct 21, 2023:
Thank you But please answer. Is it the employee who is leaving? Is he/she named YHG?
Chakib Roula (asker) Oct 21, 2023:
@AllegroTrans,
It is a Three-party agreement where we have two corporates and one employee.Thank you.
AllegroTrans Oct 21, 2023:
Asker Who or what is leaving/exiting? A shareholder named YHG?
Mpoma Oct 21, 2023:
Probably "exit agreement" then, if there's no other context. But my confidence isn't that high. It suggests something laying down simply how these three companies can get out of this partnership or collaboration agreement they've set up if they want to.
Chakib Roula (asker) Oct 21, 2023:
Thank you Mpoma but I don't have further context; it is about a three-party agreement. Plans here refers to pension payment.
Mpoma Oct 21, 2023:
More context! ... a lot more! Please! The question here is, what are these "plans"? All sorts of things might be involved here, such as "tag-along", "drag-along" equity holding arrangements. Or something entirely different. It probably translates as "exit agreement" but we really can't justify that at this stage.

Proposed translations

4 hrs
French term (edited): convention de sortie
Selected

(corporate) Exit Arrangemnent; (personal employment) Severance Agreement

I agree with Mpoma's sophisticated, London Uni.-graduate ideas in the Discussion Entires.

Otherwise or that apart, it would help with terminological searches of the highest rank to spell 'convention' right.

PS personal, suspicion-shrouded severance / confidentiality agreements are quite common in Germany.

Sokran - thank you!
Example sentence:

A severance agreement is a contract that an employer may ask an employee to sign when they are terminated from a job. Severance pay is often offered in exchange for an employee's release of their claims against the employer.

Note from asker:
Thank you Adrian.
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4 KudoZ points awarded for this answer. Comment: "I highly appreciate your input. Thank you"
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