The Employee Termination Release Agreement is a crucial document used in the Philippines when formalizing the end of an employment relationship through mutual agreement or legitimate termination. This document, governed by the Philippine Labor Code and related DOLE regulations, serves multiple purposes: it documents the terms of separation, outlines financial settlements and benefits, establishes post-employment obligations, and provides legal protection for both parties through mutual releases. The agreement typically becomes necessary during voluntary resignations, redundancies, or authorized causes of termination, ensuring compliance with local labor laws while protecting both employer and employee interests. It must be carefully drafted to ensure enforceability under Philippine law and typically requires proper execution, including notarization when necessary.
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1. Parties: Identification of the employer and employee, including complete legal names and addresses
2. Background: Brief history of employment relationship, including start date, position, and basis for termination
3. Definitions: Key terms used throughout the agreement, including 'Effective Date', 'Termination Date', 'Settlement Amount', etc.
4. Termination of Employment: Formal statement of employment termination, specifying the effective date and nature of separation
5. Settlement Payment: Details of final settlement amount, including basic pay, separation pay, and other statutory benefits
6. Release and Waiver: Employee's release of claims against employer, subject to receipt of settlement payment
7. Return of Company Property: Requirements for returning company assets, documents, and other properties
8. Confidentiality: Ongoing obligations regarding confidential information and trade secrets
9. Final Settlement: Confirmation that the settlement amount represents full and final settlement of all claims
10. Tax Matters: Treatment of tax obligations related to settlement payments
11. Governing Law: Specification of Philippine law as governing law and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Non-Competition: Post-employment restrictions on competing activities, used when employee had access to sensitive information
2. Non-Solicitation: Restrictions on soliciting employees or customers, included for senior positions
3. Reference Letter: Terms regarding provision of employment references, included when agreed as part of separation
4. Benefits Continuation: Details of any continued benefits post-termination, used when offering extended benefits
5. Cooperation: Requirements for post-termination cooperation in business matters, included for management positions
6. Legal Consultation: Acknowledgment of right to seek legal counsel, included when settlement amount is significant
7. Severability: Standard clause on severability of provisions, included in more complex agreements
8. Amendment: Provisions for modifying the agreement, included in more formal arrangements
1. Schedule A - Settlement Calculation: Detailed breakdown of final settlement amount including basic pay, pro-rated 13th month pay, separation pay, and other benefits
2. Schedule B - Company Property Checklist: List of company properties to be returned by the employee
3. Schedule C - Benefits Summary: Summary of benefits and their treatment post-termination
4. Appendix 1 - Clearance Form: Standard company clearance form confirming return of properties and settlement of obligations
5. Appendix 2 - Certificate of Employment: Standard form of employment certificate to be issued upon completion
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Information Technology
Financial Services
Retail
Healthcare
Education
Business Process Outsourcing
Construction
Hospitality
Telecommunications
Professional Services
Mining and Resources
Transportation and Logistics
Real Estate
Energy
Relevant Teams
Human Resources
Legal
Compliance
Employee Relations
Corporate Secretariat
Risk Management
Administrative Services
Finance
Payroll
Relevant Roles
HR Director
Legal Counsel
HR Manager
Compliance Officer
Employee Relations Manager
HR Business Partner
Legal Manager
HR Operations Manager
Corporate Secretary
Benefits Administrator
HR Generalist
Labor Relations Specialist
Employment Lawyer
HR Administrator
Compensation and Benefits Manager
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