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1. Parties: Identifies the employer and employee, including their full legal names and addresses
2. Background: States the existing employment relationship, original employment date, and mutual desire to terminate
3. Definitions: Defines key terms used throughout the agreement
4. Termination Date: Specifies the agreed-upon termination date and last day of employment
5. Final Payment: Details the calculation and payment of final salary, unused leave, and statutory entitlements
6. Return of Company Property: Lists company property to be returned and deadline for return
7. Confidentiality: Confirms ongoing obligations regarding confidential information
8. Non-Disparagement: Mutual agreement not to make negative statements about each other
9. Release and Waiver: Mutual release of claims related to employment and its termination
10. Tax Implications: Clarifies responsibility for tax payments on termination payments
11. Governing Law: Specifies Hong Kong law as governing law and jurisdiction
12. Entire Agreement: Confirms this agreement supersedes all previous agreements regarding termination
13. Execution: Signature blocks and execution details
1. Post-Termination Restrictions: Confirms or modifies any existing non-compete or non-solicitation obligations
2. Share Options/Awards: Addresses treatment of outstanding share options or equity awards
3. Handover: Details specific handover requirements for ongoing projects or responsibilities
4. Reference: Agreed form or approach to future employment references
5. Medical Benefits: Extension or termination of medical benefits coverage
6. Legal Fees: Agreement on payment of legal fees for reviewing the agreement
7. Outplacement Support: Provision of career transition or outplacement services
8. Continuing Cooperation: Agreement to assist with specific matters post-termination
9. Immigration Status: Addressing work visa implications if applicable
1. Schedule 1 - Payment Calculation: Detailed breakdown of all termination payments and deductions
2. Schedule 2 - Company Property: Comprehensive list of company property to be returned
3. Schedule 3 - Outstanding Benefits: List of benefits and their treatment upon termination
4. Schedule 4 - Handover Checklist: Detailed list of handover tasks and responsibilities
5. Appendix A - Release Form: Detailed form of mutual release and waiver
6. Appendix B - Reference Letter: Agreed form of reference letter if applicable
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