Severance Pay Non Compete Agreement for Hong Kong

Severance Pay Non Compete Agreement Template for Hong Kong

A comprehensive legal agreement governed by Hong Kong law that combines severance payment terms with post-employment restrictive covenants. This document outlines the financial compensation provided to an employee upon termination of employment, while simultaneously establishing enforceable non-compete restrictions to protect the employer's legitimate business interests. The agreement is structured in accordance with Hong Kong's Employment Ordinance and common law principles regarding restraint of trade, ensuring compliance with local legal requirements while balancing employer protections with employee rights.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Severance Pay Non Compete Agreement

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Severance Pay Non Compete Agreement?

The Severance Pay Non Compete Agreement is a crucial document used in Hong Kong employment relationships when an employer wishes to protect their business interests while providing severance compensation to a departing employee. This document is typically implemented during employment termination scenarios where the employee has access to sensitive information, strong client relationships, or valuable intellectual property. The agreement must comply with Hong Kong's Employment Ordinance for severance calculations and follow common law principles regarding reasonable restrictions in non-compete clauses. It's particularly important in situations where there's a legitimate concern about competitive harm, and the agreement balances the employer's need for protection with the employee's right to work. The document includes specific details about payment amounts, timing, restricted activities, geographical limitations, and duration of restrictions.

What sections should be included in a Severance Pay Non Compete Agreement?

1. Parties: Identification of the employer and employee entering into the agreement

2. Background: Context of the agreement, including reference to the termination of employment and basis for severance payment

3. Definitions: Key terms used throughout the agreement, including 'Restricted Business', 'Territory', 'Confidential Information', etc.

4. Severance Payment: Details of the severance payment amount, calculation method, timing, and conditions for payment

5. Non-Compete Obligations: Specific restrictions on competitive activities, including duration and geographical scope

6. Non-Solicitation: Restrictions on soliciting employees, customers, or suppliers

7. Acknowledgments: Employee's acknowledgment of the reasonableness of restrictions and receipt of consideration

8. Severability: Provision for the survival of remaining clauses if any clause is found unenforceable

9. Governing Law and Jurisdiction: Specification of Hong Kong law as governing law and jurisdiction for disputes

10. Entire Agreement: Confirmation that this agreement represents the complete understanding between parties

What sections are optional to include in a Severance Pay Non Compete Agreement?

1. Garden Leave: Provisions for a period where the employee remains employed but not active, useful when immediate competition risk exists

2. Confidentiality Obligations: Detailed confidentiality provisions if not covered in previous agreements

3. Return of Company Property: Requirements for returning company assets and information

4. Tax Provisions: Specific arrangements regarding tax treatment of the severance payment

5. Continuing Obligations: Reference to obligations from the employment contract that continue post-termination

6. Alternative Dispute Resolution: Provisions for mediation or arbitration before court proceedings

7. Legal Advice: Acknowledgment that the employee has received independent legal advice

What schedules should be included in a Severance Pay Non Compete Agreement?

1. Schedule 1 - Severance Payment Calculation: Detailed breakdown of severance payment calculation and any adjustments

2. Schedule 2 - Restricted Territory: Specific geographical areas where non-compete restrictions apply

3. Schedule 3 - Restricted Activities: Detailed list of specific activities prohibited under the non-compete clause

4. Schedule 4 - Key Customers/Suppliers: List of specific customers or suppliers covered by non-solicitation provisions

5. Appendix A - Acknowledgment Form: Form for employee to acknowledge receipt of payment and acceptance of terms

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

Jurisdiction

Hong Kong

Publisher

Genie AI

Document Type

Release Agreement

Cost

Free to use
Relevant legal definitions
Relevant Industries

Financial Services

Technology

Professional Services

Banking

Insurance

Manufacturing

Retail

Healthcare

Telecommunications

Consulting

Legal Services

Real Estate

Trading and Distribution

Pharmaceuticals

Relevant Teams

Human Resources

Legal

Finance

Sales

Business Development

Executive Management

Research and Development

Product Development

Client Services

Operations

Information Technology

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Managing Director

Senior Manager

Sales Director

Account Manager

Technical Lead

Research Director

Department Head

Regional Manager

Product Manager

Business Development Manager

Senior Consultant

Investment Manager

Trading Manager

Senior Engineer

Client Relationship Manager

Industries
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

Find the exact document you need

Video Production Services Agreement

A Hong Kong law-governed agreement setting out terms and conditions for professional video production services, including project scope, deliverables, and rights management.

find out more

Vehicle Buy Sell Agreement

A legally binding agreement for vehicle sale and purchase in Hong Kong, compliant with local transport and consumer protection regulations.

find out more

Tenancy Notice Letter To Agency

A formal notice letter used in Hong Kong to communicate tenancy-related matters between principal parties and their real estate agency.

find out more

Standard Vendor Contract

A Hong Kong law-governed vendor agreement establishing terms and conditions for supplier relationships, incorporating local legal requirements and commercial best practices.

find out more

Mutual Release Agreement (Real Estate)

A Hong Kong law-governed agreement providing for mutual release of claims and obligations between parties in real estate matters.

find out more

Settlement Agreement Taxable

A legally binding settlement agreement under Hong Kong law that includes specific provisions for tax treatment and reporting obligations.

find out more

Release Of Memorandum Of Contract

A Hong Kong legal document that formally releases and removes a previously registered memorandum of contract from the Land Registry records.

find out more

Photo And Video Consent Form

A Hong Kong-compliant consent form for the capture and usage of photographs and videos of individuals, aligned with local privacy laws.

find out more

Release And Covenant Not To Sue

A Hong Kong law-governed agreement combining a release of claims with a covenant not to sue, used to settle disputes and prevent future litigation.

find out more

Personal Training Waiver

A Hong Kong-compliant waiver document that protects fitness professionals and facilities from liability while ensuring fair terms for clients under local law.

find out more

Presentation Skills Evaluation Form

A Hong Kong-compliant evaluation form for assessing professional presentation skills, including both scoring metrics and feedback components.

find out more

Waiver Of Claims Agreement

A Hong Kong law-governed agreement documenting the voluntary waiver of legal claims by one party against another in exchange for consideration.

find out more

Termination Of Contract Of Employment

A Hong Kong law-governed agreement documenting the mutual termination of employment, including termination terms, final payments, and post-termination obligations.

find out more

Tenant Termination Of Lease Agreement

A Hong Kong law-governed agreement that formally terminates a lease between tenant and landlord, setting out termination terms and mutual obligations.

find out more

Employee Termination Agreement

A Hong Kong law-governed agreement that formalizes employment termination terms between employer and employee, including final payments, benefits, and mutual obligations.

find out more

Termination Of Agency Agreement

A Hong Kong law-governed agreement that formally terminates an existing agency relationship, setting out termination terms, settlements, and post-termination obligations.

find out more

Release Of Medical Records To Family Members Form

A Hong Kong-compliant form authorizing family members to access specified patient medical records, subject to local privacy laws and healthcare regulations.

find out more

Release Of Guarantee Agreement

A Hong Kong law-governed agreement that formally releases a guarantor from their obligations under an existing guarantee arrangement.

find out more

Confidential Private Placement Memorandum

A Hong Kong-compliant confidential document for private securities offerings to professional investors, structured under SFC regulations.

find out more

Waiver Of Appearance

A Hong Kong law-governed document where a party formally waives their right to appear in specific court proceedings or legal matters.

find out more

Release Form For Car

A Hong Kong-compliant legal document for transferring vehicle ownership and releasing associated liabilities between parties.

find out more

Simple Waiver

A Hong Kong law-governed document that formally records one party's voluntary relinquishment of specific rights or claims against another party.

find out more

Severance Pay Release Of Claims

A Hong Kong law-governed agreement documenting severance payment terms and the employee's release of claims against their employer.

find out more

Employee Reference Release Form

A Hong Kong-compliant authorization form allowing employers to provide employment references while protecting all parties' interests under Hong Kong law.

find out more

Relationship Separation Agreement

A Hong Kong law-governed agreement that formally documents the terms and arrangements of relationship separation, including asset division and financial settlements.

find out more

Media Production Agreement

A Hong Kong law-governed agreement setting out terms and conditions for media production services, including deliverables, rights, and payment terms.

find out more

Talent Management Agreement

A Hong Kong-governed agreement establishing the terms and conditions between a talent manager/agency and their represented talent, including representation rights, duties, and compensation.

find out more

Simple Service Level Agreement

A Hong Kong-governed agreement defining service performance standards, metrics, and remedies between service provider and recipient.

find out more

Event Waiver Form

A Hong Kong-compliant legal document where participants acknowledge risks and waive certain legal rights related to event participation.

find out more

Release Of Claims Settlement Agreement

A Hong Kong law-governed agreement that documents the settlement of claims between parties, including release terms and consideration.

find out more

Release And Waiver Of Claims Agreement

A Hong Kong law-governed agreement where one party releases another from specific claims or liabilities in exchange for consideration.

find out more

30 Days Lease Termination Letter

A Hong Kong-compliant formal notice providing 30 days' notice to terminate a lease agreement, including termination date and handover arrangements.

find out more

Severance Pay Non Compete Agreement

A Hong Kong law-governed agreement combining severance payment terms with non-compete restrictions for departing employees.

find out more

Release And Waiver Agreement

A Hong Kong law-governed agreement where one party releases claims or rights against another, preventing future legal actions related to specific matters.

find out more

Location Filming Agreement

A Hong Kong law-governed agreement that sets out terms for using a specific location for filming purposes, including access rights, compensation, and safety requirements.

find out more

Loan Referral Agreement

Hong Kong law-governed agreement establishing terms for referring potential borrowers to lenders, including regulatory compliance and compensation terms.

find out more

Full And Final Payment Agreement

A Hong Kong law-governed agreement that documents final settlement terms and complete release of claims between parties, including payment obligations and mutual releases.

find out more

Release And Waiver Of Claims

A Hong Kong law-governed agreement where one party releases legal claims against another party in exchange for consideration, providing a framework for dispute resolution and litigation prevention.

find out more

Settlement Agreement And General Release

A Hong Kong law-governed agreement that resolves disputes between parties through settlement terms and mutual release of claims.

find out more

Photo Licensing Contract

A Hong Kong law-governed agreement establishing terms for licensing and usage of photographic works, including rights, compensation, and protection measures.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now