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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of the employment relationship, dispute, and reason for settlement
3. Definitions: Definitions of key terms used throughout the agreement
4. Settlement Amount: Specification of the total settlement sum and its components
5. Payment Terms: Details of how and when payments will be made, including payment method and schedule
6. Tax Treatment: Classification of payments for tax purposes and responsibilities for tax payments
7. Release and Waiver: Employee's waiver of claims against the employer and associated entities
8. Confidentiality: Obligations regarding confidentiality of the settlement terms
9. Governing Law: Specification of Nigerian law as governing law and jurisdiction
10. Entire Agreement: Confirmation that this agreement represents the complete understanding between parties
11. Execution: Signature blocks and execution requirements
1. Non-Disparagement: Mutual obligations not to make negative statements, included when reputation protection is important
2. Ongoing Employment: Terms relating to continued employment, if the employee is not leaving the organization
3. Reference: Terms regarding future employment references, included when agreed as part of settlement
4. Union Acknowledgment: Required when a union is involved in the settlement process
5. Return of Property: Requirements for returning company property, needed if employment is terminating
6. Reaffirmation of Existing Obligations: Confirmation of continuing obligations like non-compete clauses, if applicable
7. Legal Advice: Acknowledgment of receipt of independent legal advice, recommended for enforceability
8. Revocation Period: Period during which the agreement can be revoked, if required by applicable law
1. Schedule 1 - Payment Breakdown: Detailed breakdown of settlement amount components
2. Schedule 2 - Payment Timeline: Specific dates and amounts for installment payments if applicable
3. Schedule 3 - Claims Being Settled: List of specific claims or disputes being resolved
4. Appendix A - Resignation Letter: Template or copy of resignation letter if employment is terminating
5. Appendix B - Tax Calculations: Breakdown of tax treatment for different payment components
6. Appendix C - Reference Letter: Agreed form of reference letter if part of settlement terms
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Oil and Gas
Manufacturing
Technology
Telecommunications
Healthcare
Education
Retail
Construction
Professional Services
Mining
Agriculture
Transportation
Hospitality
Public Sector
Human Resources
Legal
Finance
Payroll
Compliance
Risk Management
Employee Relations
Industrial Relations
Executive Leadership
Operations
Human Resources Director
HR Manager
Legal Counsel
Finance Director
Payroll Manager
Compensation and Benefits Manager
Employee Relations Manager
Chief Financial Officer
Chief Legal Officer
HR Business Partner
Industrial Relations Manager
Company Secretary
Risk Manager
Compliance Officer
Operations Director
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