Document background
An Exit Agreement is a crucial document used when formally ending an employment relationship in the Philippines, whether through mutual agreement, resignation, or termination. This document must comply with Philippine Labor Code requirements and related employment regulations, ensuring proper documentation of separation terms, benefits, and obligations. The agreement typically includes provisions for final payments, confidentiality obligations, release of claims, return of company property, and post-employment restrictions where applicable. It's particularly important in cases involving senior executives, sensitive positions, or complex termination scenarios where clear documentation of agreed terms is essential for risk management and future reference. The Exit Agreement serves as a comprehensive record of the separation terms while protecting both employer and employee interests under Philippine jurisdiction.
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