The Employment Release Agreement is a crucial document used in Malaysia when formally concluding an employment relationship through mutual agreement or as part of a negotiated exit. It is particularly important in situations involving senior executives, sensitive departures, or where there is a need to clearly document the terms of separation and prevent future disputes. The agreement, governed by Malaysian employment law, typically includes detailed provisions about financial settlements, benefit arrangements, confidentiality obligations, and mutual releases. It serves to protect both employer and employee interests while ensuring compliance with local regulations, including the Employment Act 1955 and Industrial Relations Act 1967. This document is essential for risk management and providing legal certainty in employment separations.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Brief recital of the employment relationship, including start date, most recent position, and agreement to terminate
3. Definitions: Key terms used throughout the agreement, including 'Effective Date', 'Settlement Sum', 'Claims', etc.
4. Termination of Employment: Confirmation of employment termination date and immediate effects
5. Settlement Payment: Details of the settlement sum, payment method, timing, and tax treatment
6. Release of Claims: Comprehensive release of all claims by employee against employer and related entities
7. Company Property: Requirements for return of company property and documents
8. Confidentiality Obligations: Ongoing confidentiality obligations regarding company information
9. Tax Indemnity: Employee's responsibility for personal tax liabilities on settlement payments
10. Legal Advice: Confirmation that employee has had opportunity to seek independent legal advice
11. Entire Agreement: Clause stating this document represents the entire agreement between parties
12. Governing Law: Specification that Malaysian law governs the agreement
13. Execution: Signature blocks and execution requirements
1. Non-Disparagement: Mutual obligations not to make negative statements, included when reputation protection is important
2. Reference: Terms regarding future employment references, included when agreed as part of settlement
3. Post-Employment Restrictions: Non-compete and non-solicitation clauses, included if not covered in original employment agreement
4. Continuing Obligations: Reference to obligations from employment agreement that survive termination, included if original agreement exists
5. Medical Insurance: Provisions regarding continuation or termination of medical benefits, included if applicable
6. Share Options/Awards: Treatment of outstanding share options or awards, included if employee has equity compensation
7. Legal Costs: Agreement on payment of legal costs, included if employer is contributing to employee's legal fees
8. Cooperation: Employee's agreement to assist with transition or future inquiries, included if needed
1. Schedule 1 - Settlement Sum Breakdown: Detailed breakdown of all payments comprising the settlement sum
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Benefits Summary: Summary of treatment of various benefits and entitlements
4. Appendix A - Release Claims Details: Detailed list of specific claims being released
5. Appendix B - Confidential Information Definition: Detailed description of what constitutes confidential information
Relevant legal definitions
Agreement
Board
Company
Company Property
Confidential Information
Effective Date
Employee
Employment
Final Salary
Group
Identity Card
Notice Period
Outstanding Benefits
Parties
Release Claims
Remaining Leave
Settlement Payment
Settlement Sum
Signing Date
Statutory Contributions
Termination Date
Working Day
Board
Company
Company Property
Confidential Information
Effective Date
Employee
Employment
Final Salary
Group
Identity Card
Notice Period
Outstanding Benefits
Parties
Release Claims
Remaining Leave
Settlement Payment
Settlement Sum
Signing Date
Statutory Contributions
Termination Date
Working Day
Clauses
Interpretation
Termination
Settlement Payment
Release of Claims
Waiver
Return of Property
Confidentiality
Non-Disparagement
Tax Indemnity
Legal Costs
Post-Employment Restrictions
Non-Competition
Non-Solicitation
References
Cooperation
Surviving Obligations
Data Protection
Entire Agreement
Severability
Variation
Assignment
Notices
Third Party Rights
Governing Law
Jurisdiction
Counterparts
Termination
Settlement Payment
Release of Claims
Waiver
Return of Property
Confidentiality
Non-Disparagement
Tax Indemnity
Legal Costs
Post-Employment Restrictions
Non-Competition
Non-Solicitation
References
Cooperation
Surviving Obligations
Data Protection
Entire Agreement
Severability
Variation
Assignment
Notices
Third Party Rights
Governing Law
Jurisdiction
Counterparts
Relevant Industries
Banking and Financial Services
Technology
Manufacturing
Professional Services
Healthcare
Education
Retail
Telecommunications
Construction
Energy
Hospitality
Transportation and Logistics
Media and Entertainment
Real Estate
Consumer Goods
Relevant Teams
Human Resources
Legal
Finance
Compliance
Operations
Corporate Secretarial
Risk Management
Internal Audit
Senior Management
Board Secretariat
Relevant Roles
Chief Executive Officer
Managing Director
Department Head
Senior Manager
Manager
Executive
Senior Engineer
Professional Staff
Administrative Staff
Sales Representative
Technical Specialist
Project Manager
Regional Director
Country Manager
Vice President
Chief Financial Officer
Department Director
Senior Consultant
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