The Mutual Agreement To Terminate Employment is utilized when both employer and employee in Nigeria consensually agree to end their employment relationship. This document is particularly relevant when parties wish to formalize a clean break from employment under mutually acceptable terms, different from unilateral termination or resignation. It addresses key aspects required under Nigerian labour law, including final settlements, tax implications, benefit arrangements, and ongoing obligations. The agreement helps prevent future disputes by clearly documenting the terms of separation and ensures compliance with relevant Nigerian employment legislation, including the Labour Act and Employee's Compensation Act. It's commonly used during corporate restructuring, amicable separations, or when alternative employment arrangements are agreed upon.
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1. Parties: Identification of the employer and employee with full legal names and addresses
2. Background: Brief history of employment relationship, including start date and current position
3. Definitions: Key terms used in the agreement including 'Termination Date', 'Final Settlement', etc.
4. Mutual Agreement to Terminate: Clear statement that both parties agree to terminate the employment relationship
5. Termination Date: Specific date when employment relationship will end
6. Final Settlement: Details of all payments to be made, including salary, benefits, and any severance package
7. Tax Implications: Statement regarding tax treatment of payments and responsibilities
8. Company Property: Requirements for return of company property and documentation
9. Confidentiality Obligations: Ongoing obligations regarding confidential information
10. Full and Final Settlement: Confirmation that the agreement represents full and final settlement of all claims
11. Governing Law: Specification that the agreement is governed by Nigerian law
12. Execution: Signature blocks for both parties
1. Non-Compete Obligations: Include when the original employment contract contained non-compete provisions that will continue
2. Reference Provision: Include when parties agree on the nature of employment references to be provided
3. Pension Arrangements: Include when there are specific pension considerations or transfers to be addressed
4. Handover Requirements: Include when employee holds key responsibilities requiring formal handover
5. Medical Benefits Extension: Include when agreement includes post-termination medical coverage
6. Legal Review Acknowledgment: Include when either party has received independent legal advice
7. Outstanding Leave: Include when there is unused leave to be addressed or compensated
1. Schedule 1 - Payment Calculation: Detailed breakdown of all payments including salary, benefits, and severance
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Continuing Obligations: Details of any continuing obligations from the original employment contract
4. Appendix A - Original Employment Contract: Copy of the original employment contract for reference
5. Appendix B - Employee Benefits Statement: Statement of all benefits and their treatment post-termination
Relevant legal definitions
Agreement
Company
Confidential Information
Effective Date
Employee
Employer
Employment Contract
Final Settlement Amount
Intellectual Property Rights
Notice Period
Original Employment Date
Parties
Payment Date
Pension Scheme
Severance Package
Terminal Benefits
Termination Date
Trade Secrets
Waiver and Release
Working Day
Company Property
Outstanding Obligations
Final Salary
Accrued Benefits
Settlement Period
Continuing Obligations
Restrictive Covenants
Reference Date
Company
Confidential Information
Effective Date
Employee
Employer
Employment Contract
Final Settlement Amount
Intellectual Property Rights
Notice Period
Original Employment Date
Parties
Payment Date
Pension Scheme
Severance Package
Terminal Benefits
Termination Date
Trade Secrets
Waiver and Release
Working Day
Company Property
Outstanding Obligations
Final Salary
Accrued Benefits
Settlement Period
Continuing Obligations
Restrictive Covenants
Reference Date
Clauses
Definitions
Interpretation
Mutual Termination
Termination Date
Final Settlement
Payment Terms
Tax Provisions
Benefits Cessation
Company Property Return
Confidentiality
Non-Disclosure
Non-Compete
Non-Solicitation
Intellectual Property
Reference Provision
Handover Requirements
Full and Final Settlement
Release and Waiver
Post-Termination Obligations
Pension Arrangements
Medical Benefits
Leave Settlement
Legal Costs
Governing Law
Jurisdiction
Entire Agreement
Severability
Amendment
Notices
Third Party Rights
Counterparts
Interpretation
Mutual Termination
Termination Date
Final Settlement
Payment Terms
Tax Provisions
Benefits Cessation
Company Property Return
Confidentiality
Non-Disclosure
Non-Compete
Non-Solicitation
Intellectual Property
Reference Provision
Handover Requirements
Full and Final Settlement
Release and Waiver
Post-Termination Obligations
Pension Arrangements
Medical Benefits
Leave Settlement
Legal Costs
Governing Law
Jurisdiction
Entire Agreement
Severability
Amendment
Notices
Third Party Rights
Counterparts
Relevant Industries
Banking and Finance
Technology
Manufacturing
Oil and Gas
Telecommunications
Professional Services
Retail
Healthcare
Education
Construction
Mining
Agriculture
Transportation
Hospitality
Media and Entertainment
Public Sector
Relevant Teams
Human Resources
Legal
Finance
Operations
Administration
Compliance
Payroll
Employee Relations
Talent Management
Risk Management
Relevant Roles
Chief Executive Officer
Managing Director
Department Manager
Senior Executive
Professional Staff
Administrative Officer
Technical Specialist
Sales Representative
Project Manager
Team Leader
Operations Manager
Financial Controller
Marketing Manager
Human Resources Manager
Legal Counsel
IT Administrator
Production Supervisor
Research Analyst
Customer Service Representative
Business Development Manager
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