The Waiver And Release Of Non Compete Obligations is essential in situations where an employer decides to release a former employee from existing non-compete restrictions under Malaysian law. This document is typically used when circumstances change, making the original non-compete provisions unnecessary or when negotiating an employee's departure. It includes specific details about the original restrictions being waived, the effective date of the release, and any surviving obligations. The document ensures legal certainty under Malaysian jurisdiction while facilitating workforce mobility and protecting legitimate business interests.
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1. Parties: Identification of the parties including the employer/company releasing the non-compete obligations and the individual being released
2. Background: Context of the original non-compete obligations, reference to the original agreement, and circumstances leading to this waiver
3. Definitions: Key terms used in the document including references to the Original Agreement, Non-Compete Obligations, and Effective Date
4. Waiver and Release: Express waiver of the non-compete obligations, specifying which obligations are being released
5. Effective Date: The date from which the waiver becomes effective
6. Acknowledgments: Statements confirming both parties understand the implications of the waiver
7. Governing Law: Specification that Malaysian law governs the waiver
8. Execution: Signature blocks and execution formalities
1. Consideration: Include when there is a payment or other consideration for the waiver
2. Surviving Obligations: Include when certain obligations from the original agreement remain in effect
3. Confidentiality Obligations: Include when confidentiality obligations remain despite the non-compete waiver
4. Mutual Release: Include when both parties want to release each other from all claims related to the non-compete provisions
5. Return of Company Property: Include when there is outstanding company property to be returned
6. Non-Disparagement: Include when parties wish to include mutual non-disparagement provisions
1. Original Non-Compete Agreement: Copy or extract of the original non-compete provisions being waived
2. List of Waived Obligations: Detailed list of specific obligations being waived, if multiple or complex
3. Consideration Details: If applicable, schedule detailing any consideration or payment terms
4. Company Property Schedule: If applicable, list of company property to be returned
Relevant legal definitions
Company
Employee
Original Agreement
Non-Compete Obligations
Effective Date
Confidential Information
Restricted Business
Restricted Period
Restricted Territory
Consideration
Released Claims
Business Day
Parties
Surviving Obligations
Waiver Date
Original Employment Agreement
Competitive Activity
Trade Secrets
Intellectual Property Rights
Group Company
Employee
Original Agreement
Non-Compete Obligations
Effective Date
Confidential Information
Restricted Business
Restricted Period
Restricted Territory
Consideration
Released Claims
Business Day
Parties
Surviving Obligations
Waiver Date
Original Employment Agreement
Competitive Activity
Trade Secrets
Intellectual Property Rights
Group Company
Clauses
Recitals
Definitions
Waiver
Release
Consideration
Acknowledgment
Confidentiality
Non-Disparagement
Severability
Governing Law
Entire Agreement
Amendment
Notice
Assignment
Third Party Rights
Counterparts
Further Assurance
Surviving Obligations
Return of Property
Mutual Release
No Admission of Liability
Definitions
Waiver
Release
Consideration
Acknowledgment
Confidentiality
Non-Disparagement
Severability
Governing Law
Entire Agreement
Amendment
Notice
Assignment
Third Party Rights
Counterparts
Further Assurance
Surviving Obligations
Return of Property
Mutual Release
No Admission of Liability
Relevant Industries
Technology
Financial Services
Professional Services
Manufacturing
Healthcare
Telecommunications
Consulting
Retail
Energy
Pharmaceuticals
Relevant Teams
Legal
Human Resources
Executive Leadership
Sales
Research & Development
Product Development
Business Development
Operations
Strategy
Relevant Roles
Chief Executive Officer
Chief Technology Officer
Sales Director
Senior Manager
Technical Lead
Account Manager
Business Development Manager
Research Director
Product Manager
Senior Engineer
Regional Manager
Department Head
Senior Consultant
Key Account Executive
Strategy Director
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