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The Early Release From Notice Period agreement is essential in Hong Kong's dynamic business environment where employment mobility and flexibility are increasingly important. This document is used when both employer and employee mutually agree to terminate employment earlier than the notice period specified in the original employment contract. It's particularly relevant in situations involving new job opportunities, business restructuring, or mutual agreement to expedite separation. The document must comply with the Hong Kong Employment Ordinance and typically includes specific details about the revised termination date, final payment calculations, handling of benefits, and any continuing obligations. It provides legal protection for both parties by formally documenting the agreed terms of early release and ensuring all aspects of the early termination are clearly addressed and mutually understood.

1. Parties: Identifies the employer and employee entering into the agreement

2. Background: States the existing employment relationship, notice period requirement, and desire for early release

3. Definitions: Defines key terms used in the agreement including 'Early Release Date', 'Original Notice Period', and 'Final Payment'

4. Early Release Terms: Specifies the agreed early release date and modifications to the original notice period

5. Final Payment Arrangements: Details the calculation and payment of final salary, unused leave, and any pro-rated bonuses

6. Mutual Release: Confirms both parties agree to waive their rights regarding the original notice period

7. Continuing Obligations: Specifies which employment contract obligations survive the early release

8. Governing Law: Confirms the agreement is governed by Hong Kong law