Non Compete In Severance Agreement Template for Hong Kong

1. Transition Period: Used when the employee needs to assist with handover of duties or projects

2. Intellectual Property Rights: Include when specific IP assignments or ongoing obligations exist

3. Customer Relationships: Added when there are specific client relationships to protect

4. Equity/Share Options: Required if the employee has company shares or stock options

5. Reference and Announcements: Include when parties agree on specific communication about the separation

6. Ongoing Cooperation: Used when employee's assistance may be needed for future matters

7. Garden Leave: Include if there's a period where employee remains employed but not working

8. Tax Indemnity: Added when tax implications need specific addressing

1. Schedule 1 - Severance Payment Details: Detailed breakdown of severance package components and payment schedule

2. Schedule 2 - Restricted Territory: Detailed geographical scope of non-compete restrictions with specific locations

3. Schedule 3 - Restricted Businesses: Detailed list of competitor businesses or prohibited activities

4. Schedule 4 - Company Property: Inventory of company assets to be returned

5. Schedule 5 - Confidential Information: Specific categories of confidential information covered

6. Appendix A - Acknowledgment Form: Form for employee to sign acknowledging receipt of severance and acceptance of terms

7. Appendix B - Release of Claims: Detailed release of legal claims against the employer