The Termination Agreement Form is essential when ending employment relationships in Singapore, whether through mutual agreement, resignation, or dismissal. This document ensures compliance with Singapore's employment laws while protecting both parties' interests. It covers crucial elements such as final compensation, notice periods, confidentiality obligations, and post-employment restrictions. The agreement helps prevent future disputes by clearly documenting all termination terms and obtaining mutual releases from both parties.
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1. Parties: Identification of employer and employee with full legal names and addresses
2. Background: Brief overview of employment relationship and reason for termination
3. Definitions: Key terms used throughout the agreement
4. Effective Date of Termination: Specific date when employment relationship ends
5. Final Payment Terms: Details of salary, benefits, and other payments due
6. Release and Waiver: Mutual release from claims and obligations
1. Non-Compete Provisions: Restrictions on future employment - use for senior employees or those with access to sensitive information
2. Post-Termination Assistance: Requirements for transition support - use for key positions requiring handover
3. References: Agreement on employment references - use when parties agree on specific reference terms
4. Surviving Obligations: Obligations that continue after termination - use when confidentiality or other ongoing obligations exist
1. Schedule 1: Final Payment Calculation: Detailed breakdown of all final payments including salary, leave, bonuses
2. Schedule 2: Company Property List: Inventory of items to be returned to employer
3. Schedule 3: Confidential Information: List of specific confidential information covered by ongoing obligations
4. Appendix A: Employee Benefits Summary: Summary of benefit termination dates and conversion options
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