The Termination and Release Agreement is utilized when parties wish to formally document the end of an employment relationship while protecting both parties' interests. This agreement, governed by Singapore law, provides clarity on final settlements, prevents future disputes, and ensures compliance with local employment regulations. It typically becomes relevant during voluntary separations, reduNDAncies, or mutually agreed departures. The document addresses key aspects such as final compensation, benefits, confidentiality obligations, and release of claims, while ensuring adherence to Singapore's Employment Act and related legislation.
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1. Parties: Identification of all parties to the agreement, including full legal names and addresses
2. Background: Brief context of the employment relationship and reason for termination
3. Definitions: Key terms used tHRoughout the agreement
4. Termination Date: Clear specification of the employment termination date and final working day
5. Final Payments: Details of all final payments, including salary, unused leave, and any severance package
6. Release of Claims: Mutual release of claims between employer and employee
7. Company Property: Requirements for return of company property and intellectual property provisions
8. Confidentiality: Ongoing confidentiality obligations post-termination
1. Non-Compete Provisions: Restrictions on future employment activities - include when protecting legitimate business interests is crucial
2. Reference Letter: Terms regarding the provision of employment references - include when agreed as part of the termination package
3. Outplacement Support: Details of any career transition assistance - include when providing additional support services
4. Medical Benefits Extension: Continuation of medical coverage terms - include when extending medical benefits beyond termination
5. Non-Solicitation: Restrictions on soliciting employees or customers - include when protecting company relationships is important
1. Schedule 1 - Final Payment Calculation: Detailed breakdown of all final payments and deductions
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Continuing Obligations: List of obligations that survive termination
4. Appendix A - Release Form: Formal release of claims document
5. Appendix B - Reference Letter Template: Agreed format and content of reference letter if applicable
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