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Employee Cost Sharing Agreement

Employee Cost Sharing Agreement Template for Malaysia

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Key Requirements PROMPT example:

Employee Cost Sharing Agreement

"I need an Employee Cost Sharing Agreement between our Malaysian parent company and three local subsidiaries, covering shared IT staff and including provisions for intellectual property rights and confidentiality protection."

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Document background
In today's interconnected business environment, companies often need to share human resources efficiently across different entities within the same group or between collaborative business partners. An Employee Cost Sharing Agreement becomes essential when multiple entities benefit from the services of shared employees while needing to properly allocate and document the associated costs. This agreement, governed by Malaysian law, provides a comprehensive framework for managing shared employment arrangements, ensuring compliance with local regulations, and establishing clear methodologies for cost allocation. It includes essential provisions for employment status, confidentiality, intellectual property rights, and dispute resolution, while addressing specific requirements under Malaysian employment, tax, and social security laws.
Suggested Sections

1. Parties: Identification of the participating companies sharing the employee costs

2. Background: Context of the arrangement, business relationship between parties, and purpose of the cost sharing agreement

3. Definitions: Definitions of key terms used throughout the agreement, including 'Shared Employees', 'Cost Pool', 'Allocation Key', etc.

4. Scope of Agreement: Details of which employees are covered and the nature of services to be shared

5. Cost Sharing Methodology: Principles and methods for calculating and allocating shared costs between parties

6. Payment Terms: Terms and timing of payments, invoicing procedures, and payment currency

7. Employment Status: Clarification of primary employer and maintenance of employment relationships

8. Compliance with Laws: Obligations to comply with relevant Malaysian employment, tax, and social security laws

9. Confidentiality: Protection of confidential information and employee data

10. Term and Termination: Duration of agreement and circumstances for termination

11. Dispute Resolution: Process for resolving disputes between parties

12. Governing Law: Specification of Malaysian law as governing law and jurisdiction

Optional Sections

1. Employee Consent: Section requiring employee acknowledgment and consent - needed when employees will be substantially affected by the arrangement

2. Intellectual Property Rights: Required when shared employees will be creating or working with intellectual property

3. Non-Competition: Include when there are concerns about competitive activities between participating companies

4. Foreign Exchange Provisions: Needed when parties are from different countries and transactions involve multiple currencies

5. Tax Indemnity: Include when there are significant tax risks or cross-border elements

6. Force Majeure: Optional clause for circumstances preventing performance of obligations

7. Assignment Rights: Include when parties may need to transfer rights under the agreement

Suggested Schedules

1. Schedule 1 - List of Shared Employees: Detailed list of employees covered by the agreement, their roles, and allocation percentages

2. Schedule 2 - Cost Allocation Methodology: Detailed formulas and procedures for calculating and allocating costs

3. Schedule 3 - Approved Cost Components: Itemized list of costs that can be shared under the agreement

4. Schedule 4 - Service Level Requirements: Performance standards and expectations for shared employees

5. Schedule 5 - Reporting Templates: Standard forms for cost reporting and reconciliation

6. Appendix A - Employee Consent Form: Template for obtaining employee acknowledgment and consent

7. Appendix B - Compliance Checklist: Checklist of relevant Malaysian legal requirements and compliance measures

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

Technology

Manufacturing

Professional Services

Financial Services

Shared Services

Construction

Healthcare

Education

Telecommunications

Consulting

Retail

Logistics

Relevant Teams

Human Resources

Legal

Finance

Compliance

Tax

Operations

Payroll

Risk Management

Corporate Secretarial

Internal Audit

Relevant Roles

Human Resources Director

Chief Financial Officer

Legal Counsel

Finance Manager

HR Manager

Compliance Officer

Tax Manager

Operations Director

Group Controller

Payroll Manager

Corporate Secretary

Risk Manager

Regional Director

Shared Services Manager

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

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