Dismissal Settlement Agreement

Dismissal Settlement Agreement Template for Singapore

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Key Requirements PROMPT example:

"Need a Dismissal Settlement Agreement for a senior software engineer in Singapore who is being terminated due to restructuring, with a settlement sum of SGD 100,000 and continued medical benefits for 6 months from March 2025."

Document background

A Dismissal Settlement Agreement is used when an employer and employee in Singapore agree to formally document the terms of employment termination. This agreement serves to protect both parties' interests by clearly outlining settlement payments, continuing obligations, and mutual releases. The document must align with Singapore's employment laws, including the Employment Act and related regulations. It's particularly important when termination involves senior employees or complex compensation arrangements, and helps prevent future disputes by providing clarity on all aspects of the separation.

Suggested Sections

1. Parties: Identification of employer and employee with full legal names and addresses

2. Background: Brief employment history and context of termination

3. Definitions: Key terms used tHRoughout the agreement

4. Settlement Terms: Details of payment and benefits to be provided

5. Release of Claims: Mutual release of all claims and rights

6. Confidentiality: Non-disclosure obligations regarding the agreement and employment

7. Return of Property: Process for returning company property

8. Governing Law: Specification of Singapore law as governing law

Optional Sections

1. Non-Compete: Restrictions on future employment - used for senior employees or those with access to sensitive information

2. References: Agreement on providing employment references - included when specifically negotiated

3. Outplacement Services: Provision of career transition support - typically for senior employees or as part of enhanced packages

4. Medical Benefits Extension: Continuation of medical coverage - included when agreed as part of settlement package

Suggested Schedules

1. Schedule 1: Settlement Payment Breakdown: Detailed breakdown of all payments including salary, notice, bonuses, and other benefits

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

3. Schedule 3: Benefits Summary: Summary of continuing benefits and their duration

4. Appendix A: Resignation Letter: Standard form resignation letter if required

Authors

Alex Denne

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

alex.den.21@genieai.co

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Authors

Alex Denne

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