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Lifetime Employment Contract

Lifetime Employment Contract Template for Singapore

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Key Requirements PROMPT example:

Lifetime Employment Contract

"I need a Lifetime Employment Contract for our new Chief Technology Officer based in Singapore, with special provisions for annual performance reviews and equity compensation, starting March 1, 2025."

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Document background
The Lifetime Employment Contract is primarily used in Singapore when organizations wish to secure the long-term commitment of key personnel or continue traditional employment practices. This document, while relatively rare in modern employment practices, provides comprehensive coverage of employment terms, benefits, and conditions under which the lifetime guarantee remains valid. The contract must carefully balance the permanent nature of employment with Singapore's statutory requirements, including the Retirement and Re-employment Act. It's particularly relevant for family businesses, traditional corporations, and situations where exceptional talent retention is crucial.
Suggested Sections

1. Parties: Identification and details of the employer and employee

2. Background: Context of the employment relationship and basis for lifetime employment

3. Definitions: Key terms used tHRoughout the contract including references to Singapore employment legislation

4. Scope of Employment: Role, responsibilities, and reporting structure in accordance with Singapore employment laws

5. Compensation and Benefits: Salary, bonuses, CPF contributions, and other benefits as per Singapore regulations

6. Working Hours and Leave: Work schedule, overtime, annual leave, and other leave entitlements as per Employment Act

7. Confidentiality and IP Rights: Protection of company information and intellectual property

8. Termination Provisions: Circumstances under which the contract may be terminated despite lifetime nature, compliant with Singapore law

Optional Sections

1. Performance Review: Specific performance metrics and review processes for senior positions or performance-based roles

2. Mobility Clause: Terms regarding potential relocation or transfer for multinational companies or roles requiring travel

3. Non-Competition: Restrictions on working for competitors, subject to Singapore law reasonableness requirements

Suggested Schedules

1. Schedule 1: Job Description: Detailed outline of role and responsibilities

2. Schedule 2: Benefits Package: Comprehensive list of benefits and entitlements including CPF contributions

3. Schedule 3: Company Policies: Reference to applicable company policies and procedures

4. Appendix A: Performance Metrics: Specific KPIs and performance expectations if applicable

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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Industries

Employment Act (Chapter 91): Primary legislation governing employment in Singapore that sets out basic employment terms and working conditions, including working hours, rest days, overtime, and leave entitlements. 2019 amendments expanded coverage to all employees except domestic workers and seafarers.

Retirement and Re-employment Act (RRA): Legislation governing retirement age requirements and re-employment obligations. Critical for lifetime employment contracts as it may conflict with statutory retirement age provisions.

Central Provident Fund Act: mandatory social security savings system legislation that stipulates employer contribution requirements and governs retirement and healthcare funding.

Work Injury Compensation Act: Law providing employee protection in case of work-related injuries and establishing insurance requirements for employers.

Constitutional Law - Article 12: Constitutional provision ensuring equal protection under the law and employment discrimination protections.

Common Law Principles: Legal principles covering reasonableness of contract terms, restraint of trade doctrine, and fundamental contract law concepts applicable to employment contracts.

Industrial Relations Act: Legislation governing union relationships, collective bargaining processes, and dispute resolution mechanisms in employment contexts.

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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