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Standard Severance Agreement

Standard Severance Agreement Template for Singapore

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Key Requirements PROMPT example:

Standard Severance Agreement

"I need a Standard Severance Agreement for a senior software engineer in Singapore who will be terminated due to restructuring, with a termination date of March 15, 2025, including non-compete provisions and extended medical benefits for 6 months."

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Document background
The Standard Severance Agreement is typically used in Singapore when employment relationships are terminated through mutual agreement or as part of a restructuring exercise. This document ensures compliance with Singapore's employment laws while providing clarity on separation terms. It includes essential elements such as severance payments, treatment of benefits, confidentiality obligations, and release of claims. The agreement should align with the Employment Act, Tripartite Guidelines, and other relevant Singapore regulations. When properly executed, a Standard Severance Agreement helps minimize potential disputes and provides legal certainty for both parties.
Suggested Sections

1. Parties: Identification of employer and employee, including registered addresses

2. Background: Brief context of employment relationship and reason for separation

3. Definitions: Key terms used throughout the agreement

4. Separation Date: Clear statement of employment termination date and final working day

5. Severance Payment: Details of severance package, calculation method, and payment timeline

6. Statutory and Contractual Payments: Treatment of salary, unused leave, and other entitlements

7. Release of Claims: Mutual release of claims and liabilities

8. Confidentiality Obligations: Ongoing duties regarding confidential information

9. Return of Property: Requirements for returning company assets and documents

Optional Sections

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

2. Reference Letter: Terms regarding provision of employment references - included when agreed as part of separation package

3. Outplacement Services: Details of career transition support - included when offering additional support services

4. Medical Benefits Extension: Continuation of health coverage - included when extending medical benefits post-termination

5. Share Options/Awards: Treatment of outstanding equity compensation - included when employee has existing share schemes

Suggested Schedules

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

2. Schedule 2 - Outstanding Benefits: List of accrued benefits and their treatment

3. Schedule 3 - Company Property: Inventory of items to be returned

4. Appendix A - Form of Release: Standard release form to be signed

5. Appendix B - Reference Letter Template: Agreed format for employment reference

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 (Cap. 91): Primary legislation governing employment relationships in Singapore, including statutory minimum notice periods and basic employment terms

Retirement and Re-employment Act: Legislation concerning retirement age and re-employment obligations, relevant for age-related termination considerations

Central Provident Fund Act: Governs mandatory social security savings system, relevant for final CPF contributions and treatment of CPF for severance payments

Income Tax Act: Determines tax treatment of severance payments and related reporting obligations

Personal Data Protection Act (PDPA): Regulates the collection, use, and disclosure of personal data, relevant for confidentiality provisions

Tripartite Guidelines on Fair Employment Practices: Non-legislative guidelines providing framework for fair employment practices in termination situations

Tripartite Guidelines on Managing Excess Manpower: Guidelines specific to handling retrenchment and severance situations responsibly

Notice Period Requirements: Statutory and contractual obligations regarding notice periods or payment in lieu of notice

Severance Benefits Calculation: Industry norms of 2-4 weeks' salary per year of service, including treatment of AWS and unconsumed leave

CPF Contribution Requirements: Obligations for final CPF payments and treatment of CPF for severance packages

Tax Compliance: Requirements for tax treatment and reporting of severance payments

Confidentiality Provisions: Requirements for protecting company information post-employment while complying with PDPA

Non-Compete Restrictions: Reasonable restrictions under common law for post-employment competition limitations

Release of Claims: Framework for mutual releases while preserving statutory rights

Post-Employment Obligations: Requirements for return of company property, ongoing confidentiality, and non-disparagement provisions

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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