Non Compete Severance Agreement for Singapore
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Non Compete Severance Agreement
"I need a Non Compete Severance Agreement for our departing Chief Technology Officer who has access to sensitive technical information, with a 12-month restriction period and coverage across Southeast Asia, to be effective from March 1, 2025."
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1. Parties: Identification and details of the employer and employee
2. Background: Context of employment relationship and reason for agreement
3. Definitions: Key terms used tHRoughout the agreement including relevant legislation references (Employment Act, Competition Act)
4. Severance Payment: Details of compensation amount, payment terms, and timing of severance payments
5. Non-Compete Obligations: Specific restrictions including duration, geographic scope, and prohibited activities in compliance with Singapore law
6. Confidentiality: Ongoing obligations regarding confidential information and trade secrets
7. General Provisions: Standard boilerplate clauses including governing law, jurisdiction, and enforcement provisions
1. Non-Solicitation: Additional restrictions on soliciting employees, customers, or business partners
2. Return of Company Property: Requirements and timeline for returning company assets and materials
3. Cooperation in Transition: Terms for assisting with transition of duties and handover responsibilities
4. Mutual Release: Provisions for mutual release of claims between parties
1. Schedule A - Restricted Activities: Detailed list of specific activities prohibited under the non-compete clause
2. Schedule B - Severance Payment Details: Breakdown of severance payment structure, timing, and conditions
3. Schedule C - Confidential Information: Specific categories and examples of protected confidential information
4. Schedule D - Geographic Scope: Detailed definition of geographic areas covered by the non-compete restrictions
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