The Intercompany Assignment Agreement is essential for organizations operating multiple entities or having international operations where employees need to be temporarily assigned between related companies. This document is particularly relevant in Hong Kong, a major global business hub where cross-company assignments are common. It serves as a crucial legal framework that defines the assignment terms while ensuring compliance with Hong Kong's employment, immigration, and tax laws. The agreement covers essential elements including employment status, compensation structures, benefits continuation, tax equalization, visa requirements, and repatriation terms. It's designed to protect both the companies and the employee by clearly defining responsibilities, maintaining employment continuity, and addressing potential challenges that may arise during the assignment period.

1. Parties: Identifies the home company, host company, and the employee being assigned

2. Background: Explains the context of the assignment and the existing employment relationship

3. Definitions: Defines key terms used throughout the agreement

4. Term of Assignment: Specifies the duration of the assignment, including start and end dates

5. Role and Duties: Details the position, responsibilities, and reporting relationships during the assignment

6. Employment Status: Clarifies the continued employment relationship with the home company and relationship with host company

7. Compensation and Benefits: Outlines salary, benefits, allowances, and which company is responsible for each

8. Tax and Social Security: Addresses tax equalization, social security contributions, and related obligations

9. Working Hours and Leave: Specifies working hours, holiday entitlement, and leave policies

10. Immigration: Sets out visa/work permit requirements and responsibilities

11. Confidentiality: Protects confidential information of both companies

12. Data Protection: Addresses handling of personal data in compliance with privacy laws

13. Termination: Details circumstances and procedures for early termination

14. Return to Home Company: Specifies terms for repatriation and role upon return

15. Governing Law: Establishes Hong Kong law as governing law

16. Entire Agreement: Standard boilerplate confirming this is the complete agreement

17. Execution: Signature blocks for all parties