¶¶Òõ¶ÌÊÓƵ

All Countries
Employment
Severance Pay Contract

Severance Pay Contract Template for Hong Kong

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Severance Pay Contract

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Severance Pay Contract

"I need a Hong Kong Severance Pay Contract for a senior executive who will be made redundant due to corporate restructuring in March 2025, including enhanced severance terms above the statutory minimum and provisions for continued medical benefits for 6 months post-termination."

Celebrated by
Collaborations with
Investors
Document background
The Severance Pay Contract is a crucial document used in Hong Kong employment terminations where an employee becomes entitled to severance payment under the Employment Ordinance (Cap. 57). This document is typically used when an employee has been employed under a continuous contract for not less than 24 months and is dismissed due to redundancy or specified circumstances. The contract outlines the statutory severance payment calculation (based on length of service and final wages), payment timeline, tax implications, and mutual obligations. It serves as a formal record of the severance arrangement while ensuring compliance with Hong Kong employment laws and protecting both parties' interests. The document is particularly important in the context of Hong Kong's strict employment regulations and the need for clear documentation of termination benefits.
Suggested Sections

1. Parties: Identification of the employer and employee, including full legal names and addresses

2. Background: Brief context of the employment relationship and reason for the severance agreement

3. Definitions: Key terms used in the agreement including 'Severance Payment', 'Termination Date', 'Years of Service', etc.

4. Severance Payment Amount: Specification of the total severance amount and calculation method as per Employment Ordinance

5. Payment Terms: Timeline and method of severance payment, including any installment arrangements

6. Tax Treatment: Statement on tax handling of the severance payment and responsibilities of each party

7. Release and Waiver: Employee's acknowledgment of payment and waiver of further claims

8. Confidentiality: Terms regarding confidentiality of the severance agreement and its terms

9. Return of Company Property: Requirements for returning company assets and documents

10. Governing Law: Specification that Hong Kong law governs the agreement

11. Entire Agreement: Statement that this document represents the complete agreement between parties

Optional Sections

1. Non-Competition: Post-employment restrictions, used when protecting business interests is crucial

2. Non-Solicitation: Restrictions on soliciting employees or customers, used for senior positions

3. Continuing Obligations: Ongoing duties post-employment, used when there are lasting responsibilities

4. Reference Provision: Terms regarding future employment references, used when agreed as part of severance

5. Medical Benefits Extension: Continuation of medical benefits, used in enhanced severance packages

6. Outplacement Services: Provision of career transition support, used in senior executive agreements

7. Pro-rata Bonus: Treatment of outstanding bonus payments, used when bonus periods are incomplete

Suggested Schedules

1. Schedule 1 - Calculation Details: Detailed breakdown of severance payment calculation including years of service, monthly wages, and any adjustments

2. Schedule 2 - Employee Information: Details of employee's position, length of service, and final salary

3. Schedule 3 - Outstanding Benefits: List of any accrued benefits to be paid out (annual leave, bonuses, etc.)

4. Appendix A - Acknowledgment Form: Form for employee to acknowledge receipt of severance payment

5. Appendix B - Company Property Checklist: List of company items to be returned before final payment

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses






























Relevant Industries

Financial Services

Technology

Manufacturing

Retail

Professional Services

Healthcare

Education

Construction

Hospitality

Telecommunications

Real Estate

Media and Entertainment

Logistics and Transportation

Energy and Utilities

Relevant Teams

Human Resources

Legal

Finance

Payroll

Compliance

Operations

Executive Management

Company Secretariat

Risk Management

Employee Relations

Relevant Roles

HR Director

HR Manager

Legal Counsel

Company Secretary

Chief Financial Officer

HR Business Partner

Compensation and Benefits Manager

Employee Relations Manager

Payroll Manager

Risk and Compliance Manager

Operations Director

Department Head

General Manager

Chief Executive Officer

Chief Operating Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Severance Pay Contract

A Hong Kong law-governed agreement detailing severance payment terms and conditions upon employment termination.

find out more

Employee Requisition Form

A Hong Kong-compliant internal form used to request and authorize new hire positions, capturing job details and required approvals.

find out more

Equity Funding Agreement

A Hong Kong law-governed agreement documenting the terms and conditions of an equity investment, including share issuance, investor rights, and related protections.

find out more

Deferment Agreement

A Hong Kong law-governed agreement that formally documents the postponement of payment or performance obligations under an existing contract or debt arrangement.

find out more

Commission Partnership Agreement

A Hong Kong law-governed agreement establishing a partnership arrangement based on commission structures, defining terms for revenue sharing and partner responsibilities.

find out more

Severance Package Letter

A Hong Kong law-governed document outlining employee separation terms, statutory severance payments, and post-employment obligations.

find out more

Consulting Agreement With Former Employer

Hong Kong-governed agreement establishing a consulting relationship between a company and its former employee, defining services, terms, and obligations.

find out more

Tranche Loan Agreement

A Hong Kong law-governed agreement establishing terms for a loan facility disbursed in multiple tranches, including drawdown conditions, repayment terms, and security arrangements.

find out more

Compensation For Non Compete Agreement

A Hong Kong law-governed agreement providing compensation to employees in exchange for post-employment non-compete commitments.

find out more

Compensation Demand Letter

A formal demand for compensation under Hong Kong law, outlining claims, damages, and payment terms with supporting evidence.

find out more

Stock Option Award Agreement

A Hong Kong law-governed agreement that grants stock options to recipients, specifying terms for future purchase of company shares at preset prices.

find out more

Employee Shift Change Request Letter

A formal letter used under Hong Kong employment law to request changes to an employee's work shift schedule.

find out more

Deferred Purchase Agreement

A Hong Kong law-governed agreement establishing terms for a deferred purchase arrangement, including payment terms, conditions, and completion mechanics.

find out more

Restricted Stock Agreement

A Hong Kong law-governed agreement outlining terms for granting restricted stock to employees, including vesting conditions and transfer restrictions.

find out more

Referral Agreement (Real Estate)

A Hong Kong law-governed agreement establishing terms for real estate business referrals between agencies or professionals, including commission structures and compliance requirements.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.