Rescission Contract

1. This agreement has been drawn up for the purpose of termination of the employment contract between ………………………… (hereinafter referred to as the employer) and Mr …………………. (hereinafter referred to as the employee) by agreement as a result of their mutual and compatible free will.

2. According to this agreement, the employment contract signed between the Employer and the Employee on ……………….. has been terminated on …………… by expressing the free will of the parties, which is completely mutual and compatible with each other.

3. Due to this agreement, the Employer shall pay severance payments to the employee according to his/her seniority in the workplace and calculated over his/her last wage, by depositing the amount of the agreement into the bank account on the day the agreement is signed. If another date is to be set for the payment, a written agreement is made between the parties to specify a date. If the payment is not made on the specified day, the Employer shall pay to the Employee a penalty amount equal to the net amount of the last monthly wage …. The Employer agrees to pay the Employee a penalty clause amounting to a multiple of the net amount of his last monthly wage. In case of non-payment of the penalty clause, legal interest shall be charged for each month of non-payment. Fractions of a month shall not be taken into account in the interest calculation. The penalty clause shall become due and payable on the day following the day on which the amount of the agreement must be deposited into the bank account of the Worker and interest shall begin to accrue from the first day of the month following the month to which this day belongs.

4. With this agreement, the employee agrees not to file a labour-related receivable lawsuit and reinstatement lawsuit against the employer, otherwise he/she agrees to pay the employer a penalty clause amount of ….. times the net amount of his/her last monthly wage. In case of non-payment of this amount, legal interest shall be charged for each unpaid month. Fractions of a month are not taken into account in the interest calculation. The payment shall become due on the date the lawsuit is filed and interest shall start to accrue from the first day of the month following the month in which the lawsuit is filed.

5. The courts of …… are competent for the provisions of the contract and this contract constitutes conclusive evidence.

This contract has been drawn up in one page in two copies on ………………… at the workplace named ……………………….. on …………………, the correctness of which has been read together and one copy has been left to the parties.

Employer Representative                                             Employee

Name Surname/Signature/Stamp                                 Name Surname/Signature