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Simple Severance Agreement

Simple Severance Agreement Template for Malaysia

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Key Requirements PROMPT example:

Simple Severance Agreement

"I need a Simple Severance Agreement under Malaysian law for a senior software engineer who has agreed to a mutual separation from our technology company, with the termination date set for March 15, 2025, including standard non-compete and confidentiality provisions."

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Document background
A Simple Severance Agreement is a crucial document used in Malaysia when formally ending an employment relationship through mutual agreement or as part of a structured separation process. This document is essential for businesses operating under Malaysian jurisdiction who wish to properly document the termination of employment while ensuring compliance with local labor laws, including the Employment Act 1955 and Industrial Relations Act 1967. The agreement typically includes provisions for severance payment, final settlement of benefits, confidentiality obligations, and mutual releases, while also addressing specific requirements under Malaysian employment regulations. It serves to protect both employer and employee interests by clearly documenting the terms of separation and preventing future disputes.
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 termination

3. Definitions: Key terms used throughout the agreement

4. Termination Date: Clear statement of when employment ends

5. Severance Payment: Amount, calculation method, and payment terms of the severance package

6. Statutory Entitlements: Confirmation of payment of all statutory benefits including unused leave, EPF, and other mandatory benefits

7. Tax Implications: Statement regarding tax treatment of payments

8. Release and Waiver: Mutual release of claims between parties

9. Confidentiality: Ongoing obligations regarding company confidential information

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

11. Governing Law: Specification of Malaysian law as governing law

12. Execution: Signature blocks and execution details

Optional Sections

1. Non-Competition: Restrictions on working for competitors, if applicable and reasonable under Malaysian law

2. Non-Solicitation: Restrictions on soliciting employees or customers, if applicable

3. Reference Letter: Terms regarding the provision of employment references

4. Outplacement Services: Details of any career transition support provided

5. Medical Benefits Extension: Continuation of medical benefits, if offered

6. Stock Options/Share Rights: Treatment of any outstanding equity compensation

7. Legal Fees: Agreement to cover employee's legal fees for reviewing the agreement

8. Communications: Agreed announcement of departure and internal/external communications

Suggested Schedules

1. Schedule 1 - Payment Calculation: Detailed breakdown of severance payment calculation

2. Schedule 2 - Company Property: List of company property to be returned

3. Schedule 3 - Outstanding Benefits: Detailed list of all benefits and entitlements being settled

4. Appendix A - Release Form: Standard form for final release of claims

5. Appendix B - Confidential Information: Detailed description of confidential information covered by the agreement

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























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Relevant Industries

Technology

Manufacturing

Financial Services

Professional Services

Retail

Healthcare

Education

Construction

Telecommunications

Energy

Hospitality

Transportation

Real Estate

Relevant Teams

Human Resources

Legal

Compliance

Executive Leadership

Finance

Risk Management

Corporate Secretariat

Operations

Relevant Roles

Human Resources Director

Legal Counsel

HR Manager

Compliance Officer

Chief Executive Officer

Chief Financial Officer

Department Manager

HR Business Partner

Legal Manager

Risk Manager

Company Secretary

Operations Director

Managing Director

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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