End Of Service Agreement for Nigeria

End Of Service Agreement Template for Nigeria

This document serves as a comprehensive agreement governing the termination of employment relationship between an employer and employee in Nigeria. It outlines the terms and conditions of separation, including final settlements, benefits, ongoing obligations, and statutory requirements in accordance with Nigerian labor law. The agreement ensures compliance with relevant legislation including the Labour Act, Pension Reform Act, and Employee Compensation Act, while providing clear documentation of all terminal benefits, tax implications, and post-employment obligations. It serves as a legally binding document that protects both parties' interests and helps prevent future disputes regarding the employment termination.

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What is a End Of Service Agreement?

The End of Service Agreement is a crucial document used in Nigerian employment law contexts when formally concluding an employment relationship. It is typically implemented when an employee leaves an organization through resignation, retirement, mutual agreement, or other forms of separation. The document comprehensively addresses all aspects of the employment termination, including final salary payments, benefits, pension arrangements, tax considerations, and post-employment obligations. It must comply with Nigerian labor laws and regulations, including the Labour Act and Pension Reform Act, while also considering industry-specific requirements and company policies. This agreement serves as a vital risk management tool, providing clear documentation of the separation terms and helping prevent future disputes by ensuring all parties understand and agree to the termination conditions.

What sections should be included in a End Of Service Agreement?

1. Parties: Identification of the employer and the departing employee with their full legal names and addresses

2. Background: Brief context of the employment relationship, including start date, position, and reason for separation

3. Definitions: Key terms used throughout the agreement including 'Termination Date', 'Final Settlement', 'Benefits', etc.

4. Effective Date of Separation: Clear statement of the employee's last working day and when the separation takes effect

5. Final Settlement: Details of all final payments including salary, allowances, and statutory entitlements

6. Tax Treatment: Clarification of tax obligations and treatment of various payment components

7. Company Property: Requirements for return of company property, equipment, and documents

8. Confidentiality Obligations: Ongoing duties regarding confidential information and trade secrets

9. Full and Final Settlement: Confirmation that the agreement represents a full and final settlement of all claims

10. Governing Law: Specification that Nigerian law governs the agreement

11. Dispute Resolution: Process for resolving any disputes arising from the agreement

What sections are optional to include in a End Of Service Agreement?

1. Non-Compete Clause: Restrictions on working for competitors - include for senior employees or those with access to sensitive information

2. Non-Solicitation: Restrictions on approaching company clients or employees - relevant for client-facing roles

3. Reference Provision: Terms regarding future employment references - include when agreed as part of the separation

4. Ongoing Benefits: Continuation of specific benefits post-employment - include for long-serving employees or negotiated packages

5. Share Options/Awards: Treatment of outstanding share options or awards - include for employees with equity participation

6. Pension Arrangements: Special pension considerations - include for employees near retirement age

7. Legal Fee Contribution: Agreement to contribute to employee's legal fees - include when negotiated

8. Garden Leave: Terms of any garden leave period - include when applicable before final separation

What schedules should be included in a End Of Service Agreement?

1. Schedule 1 - Payment Calculation: Detailed breakdown of all payment components including basic salary, allowances, and statutory payments

2. Schedule 2 - Benefits Summary: List of benefits and their treatment post-separation

3. Schedule 3 - Company Property Register: Itemized list of company property to be returned

4. Appendix A - Tax Computation: Detailed calculation of tax implications for various payment components

5. Appendix B - Handover Checklist: List of tasks and responsibilities to be handed over before departure

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

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What is a End Of Service Agreement?

What sections should be included in a End Of Service Agreement?

What sections are optional to include in a End Of Service Agreement?

What schedules should be included in a End Of Service Agreement?

Authors

Alex Denne

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