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Private Company Termination Policy

Private Company Termination Policy Template for Singapore

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Private Company Termination Policy

"Need a Private Company Termination Policy for our new Singapore tech startup with 50 employees, focusing heavily on protecting intellectual property during employee exits and including specific provisions for remote workers in the APAC region, to be implemented by March 2025."

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Document background
The Private Company Termination Policy serves as a crucial governance document that standardizes the approach to employment termination while ensuring compliance with Singapore's employment laws and regulations. This document becomes necessary when companies need to establish clear, consistent, and compliant procedures for handling various types of employment termination. It includes detailed processes for voluntary resignations, performance-based dismissals, redundancy situations, and retirement cases, while incorporating specific requirements under Singapore's Employment Act, Retirement and Re-employment Act, and related legislation. The policy helps protect both employer and employee interests by ensuring fair treatment, proper documentation, and appropriate financial settlements.
Suggested Sections

1. Introduction: Purpose and scope of the policy, and its application within the company

2. Definitions: Key terms used throughout the policy including types of termination, notice period, etc.

3. Types of Termination: Categories of termination (voluntary resignation, dismissal, redundancy, retirement)

4. Notice Period Requirements: Standard notice periods for different employee categories and circumstances

5. Termination Procedures: Step-by-step process for different types of termination

6. Final Settlement: Process and timeline for final payment, benefits, and clearance

Optional Sections

1. Gardening Leave: Terms for placing employees on garden leave during notice period - used for companies with sensitive information or competitive concerns

2. Post-Employment Restrictions: Non-compete and confidentiality obligations - used for senior positions or roles with access to sensitive information

3. Retrenchment Benefits: Additional benefits and support for redundancy situations - used for companies with more than 10 employees or specific retrenchment policies

Suggested Schedules

1. Exit Checklist: List of tasks and clearances required before final settlement

2. Handover Template: Standard format for documenting handover of responsibilities

3. Termination Letter Templates: Standard formats for different types of termination notifications

4. Benefits Calculation Guide: Detailed methodology for calculating final settlements

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






























Industries

Employment Act: Primary legislation (Chapter 91) governing employment relationships, basic terms and working conditions in Singapore

Employment Claims Act 2016: Legislation governing resolution of employment disputes and salary-related claims in Singapore

Retirement and Re-employment Act: Legislation covering retirement age, re-employment obligations and related termination provisions

Industrial Relations Act: Law governing trade unions, collective bargaining and industrial relations matters in employment termination

Central Provident Fund Act: Legislation regarding mandatory social security savings system and employer contributions during employment and termination

Personal Data Protection Act 2012: Law governing the collection, use, disclosure and care of personal data, including employee information during and after termination

Tripartite Guidelines on Fair Employment Practices: Guidelines ensuring fair treatment in all employment matters including termination procedures

Tripartite Guidelines on Managing Excess Manpower: Guidelines for handling workforce redundancy and retrenchment exercises

Tripartite Guidelines on Wrongful Dismissal: Guidelines defining wrongful dismissal and proper termination procedures

Notice Period Requirements: Statutory and contractual notice periods, including payment in lieu of notice provisions

Termination Grounds: Valid grounds for termination including poor performance, misconduct, redundancy, retirement, and medical incapacity

Employee Rights: Rights during termination including severance payments, leave encashment, pro-rated bonuses, CPF contributions, and retrenchment benefits

Procedural Requirements: Required procedures including fair dismissal processes, documentation, appeals, exit interviews, and company property return

Data Protection Requirements: Requirements for handling employee personal data and document retention during and after termination

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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