The Employee Exit Agreement is a crucial document used in Saudi Arabia when formally terminating an employment relationship, whether through mutual agreement, resignation, or termination by the employer. This agreement serves as a comprehensive record of the separation terms, ensuring compliance with Saudi Labor Law while protecting both parties' interests. It typically includes provisions for final settlements, end of service benefits calculation as per Saudi regulations, confidentiality obligations, and mutual releases. The document is essential for proper documentation of employment termination, helping prevent future disputes and ensuring all statutory requirements are met. It should be drafted in accordance with the latest amendments to Saudi Labor Law and any relevant Ministry of Human Resources and Social Development (MHRSD) regulations.
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1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant identification numbers
2. Background: Brief description of the employment relationship, including start date, position, and mutual agreement to terminate
3. Definitions: Key terms used throughout the agreement, including 'Termination Date', 'Final Settlement', 'End of Service Benefits', etc.
4. Termination of Employment: Formal statement of employment termination, specifying the last working day and immediate effects
5. Final Settlement: Details of all financial entitlements including salary, end of service benefits, and other payments
6. Company Property: Requirements for returning company property, documents, and access credentials
7. Confidentiality Obligations: Ongoing obligations regarding confidential information and trade secrets
8. Release of Claims: Mutual release of claims and waiver of rights, subject to the agreement's terms
9. Governing Law and Jurisdiction: Confirmation of Saudi Law application and jurisdiction for disputes
10. Entire Agreement: Statement that this agreement represents the complete understanding between parties
11. Execution: Signature blocks and execution requirements
1. Non-Compete Obligations: Post-employment competitive restrictions, used when the employee had access to sensitive business information
2. Special Severance Package: Additional benefits beyond statutory requirements, used in cases of voluntary separation packages or redundancy
3. Handover Requirements: Detailed transition requirements, used for senior positions or roles with significant responsibilities
4. Post-Termination Assistance: Terms for any required assistance after termination, used when ongoing support might be needed
5. Reference Provision: Terms regarding future employment references, used when agreed as part of the exit package
6. Continuing Obligations: Any ongoing duties or benefits that survive termination, used for specific long-term commitments
7. Medical Insurance Extension: Terms for extending medical coverage, used when offering post-employment health benefits
1. Schedule 1 - Final Settlement Calculation: Detailed breakdown of all financial entitlements including basic salary, allowances, and statutory benefits
2. Schedule 2 - End of Service Benefits Calculation: Detailed calculation of end of service benefits as per Saudi Labor Law
3. Schedule 3 - Company Property List: Itemized list of company property to be returned
4. Schedule 4 - Outstanding Loans and Deductions: List of any outstanding loans or amounts to be deducted from final settlement
5. Appendix A - Handover Checklist: Detailed checklist of tasks and documents to be handed over before departure
6. Appendix B - Confidential Information Definition: Detailed description of what constitutes confidential information
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