Employee Exit Agreement Template for Singapore

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Key Requirements PROMPT example:

Employee Exit Agreement

"I need an Employee Exit Agreement for a senior software engineer leaving the company on March 15, 2025, which includes non-compete provisions and treatment of unvested stock options, with Singapore law governing the agreement."

Document background
The Employee Exit Agreement is a crucial document used in Singapore when employment relationships are terminated, whether tHRough mutual agreement, resignation, or other circumstances. It serves to protect both employer and employee interests by clearly documenting the terms of separation, including financial settlements, ongoing obligations, and mutual releases. The agreement must align with Singapore's employment laws and regulations, including the Employment Act and CPF requirements. It typically includes provisions for final payments, benefit settlements, confidentiality obligations, and the return of company property, while also addressing any post-employment restrictions or obligations.
Suggested Sections

1. Parties: Identification of employer and employee with full legal names and details

2. Background: Brief context of employment relationship and reason for exit agreement

3. Definitions: Key terms used tHRoughout the agreement

4. Termination Date: Clear specification of last day of employment

5. Final Payment Terms: Details of final salary, benefits, and payment timeline

6. Company Property: Obligations regarding return of company assets and property

7. Confidentiality Obligations: Ongoing duties regarding confidential information

8. General Release: Mutual release of claims between parties

Optional Sections

1. Non-Compete Provisions: Restrictions on future employment - typically used for senior employees or those with access to sensitive information

2. Non-Solicitation: Restrictions on approaching company clients or employees - used for client-facing roles or management positions

3. Reference Arrangement: Terms of future employment references - included when agreed as part of exit package

4. Gardening Leave: Terms of paid leave during notice period - used when employee is placed on garden leave

5. Share Options/Awards: Treatment of outstanding share options or awards - included for employees with share-based compensation

Suggested Schedules

1. Schedule 1 - Final Payment Calculation: Detailed breakdown of final payment including salary, leave, bonuses

2. Schedule 2 - Company Property List: Itemized list of company property to be returned

3. Schedule 3 - Confidential Information: Specific details of confidential information covered

4. Appendix A - Handover Plan: Detailed plan for transition of responsibilities

5. Appendix B - Release Form: Standard form for mutual release of claims

Authors

Alex Denne

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

Relevant legal definitions
Industries

Employment Act (Cap. 91): Primary legislation governing employment relationships in Singapore, covering termination provisions, notice periods, final salary payments, leave encashment, and payment timeframes for final settlements

Central Provident Fund Act: Legislation governing mandatory social security savings system, relevant for CPF contribution settlements and requirements for final CPF payments during employment termination

Personal Data Protection Act 2012: Legislation governing the handling and protection of personal data, including requirements for data retention and handling of employee's personal data post-employment

Employment Claims Act 2016: Framework for handling employment disputes and salary-related claims, including dispute resolution procedures

Confidentiality Obligations: Requirements for ongoing confidentiality, protection of trade secrets, and handling of company information after employment termination

Non-Competition and Non-Solicitation: Restrictions on post-employment activities, which must be reasonable and enforceable under Singapore law, including duration and geographical limitations

Company Property Requirements: Provisions for the return of company equipment, documents, data, access cards, and other company property

Post-Employment Obligations: Requirements for reference arrangements, communication about departure, and handover procedures

Benefits Settlement: Guidelines for settling pro-rated bonuses, outstanding leave entitlements, expense reimbursements, and other contractual benefits

Mutual Release and Waiver Provisions: Legal requirements for mutual releases and waivers that comply with Singapore contract law principles, noting that statutory rights cannot be waived

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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