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Termination And Release Agreement for Singapore

Termination And Release Agreement Template for Singapore

A Termination and Release Agreement under Singapore law is a legally binding document that formalizes the end of an employment relationship between an employer and employee. The agreement outlines the terms of separation, including final payments, benefits, and mutual releases of claims. It ensures compliance with Singapore's Employment Act and related legislation, providing both parties with clear understanding of their rights and obligations post-termination. The document typically includes provisions for confidentiality, return of company property, and any ongoing obligations.

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What is a Termination And Release Agreement?

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.

What sections should be included in a Termination And Release Agreement?

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

What sections are optional to include in a Termination And Release Agreement?

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

What schedules should be included in a Termination And Release Agreement?

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions

























Clauses




























Industries

Employment Act (Chapter 91): Primary legislation governing employment terms, conditions, termination notice periods, salary and leave entitlements, and requirements for final settlement of wages

Industrial Relations Act (Chapter 136): Legislation covering unionized employees, collective agreement requirements, and dispute resolution procedures

Central Provident Fund Act (Chapter 36): Governs CPF contributions, settlement, and obligations for final CPF payments in termination scenarios

Income Tax Act (Chapter 134): Covers tax implications of termination payments, reporting requirements, and treatment of severance packages

Contract Law: Common law principles under Singapore contract law, including requirements for valid consideration and principles of discharge of contract

Civil Law Act (Chapter 43): Establishes general contractual principles and enforceability of release clauses in Singapore

Personal Data Protection Act 2012: Regulates treatment of employee personal data, data retention requirements, and privacy considerations during termination

Limitation Act (Chapter 163): Establishes time limits for claims and statute of limitations considerations in employment-related matters

Competition Act (Chapter 50B): Governs non-compete provisions and restraint of trade considerations in termination agreements

Industry-Specific Regulations: Additional regulatory requirements specific to the industry sector that may affect termination agreements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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