All Countries
Employment
Exit Agreement For Employees

Exit Agreement For Employees Template for Saudi Arabia

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Exit Agreement For Employees

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Exit Agreement For Employees

"I need an Exit Agreement For Employees under Saudi law for a senior IT manager who is resigning effective March 15, 2025, with specific focus on confidentiality and non-compete provisions due to their access to sensitive technical information."

Celebrated by
Collaborations with
Investors
Document background
The Exit Agreement For Employees is a crucial document used in Saudi Arabia when terminating employment relationships, whether through mutual agreement, resignation, or other circumstances. It serves as a comprehensive record of the separation terms, incorporating requirements from Saudi Labor Law (Royal Decree No. M/51) and related regulations. The agreement typically addresses end-of-service benefits calculations, final settlements, confidentiality obligations, and post-employment restrictions. It's particularly important in the Saudi Arabian context due to specific local requirements regarding employee benefits, social insurance (GOSI) settlements, and the Wage Protection System (WPS). This document helps prevent future disputes by clearly documenting all aspects of the employment termination while ensuring compliance with local labor laws and regulations.
Suggested Sections

1. Parties: Identification of the employer and the employee, including full legal names and addresses

2. Background: Brief overview of employment history, current position, and mutual agreement to terminate

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

4. Termination of Employment: Formal statement of employment termination, including last working day and immediate obligations

5. Final Settlement: Details of all financial entitlements including salary, end of service benefits, and other dues

6. Company Property: Requirements for returning company assets, documents, and equipment

7. Confidentiality: Ongoing obligations regarding confidential information and trade secrets

8. Full and Final Settlement: Acknowledgment that the settlement represents complete discharge of all obligations

9. Tax and Social Insurance: Provisions regarding tax implications and GOSI settlements

10. Governing Law: Confirmation that the agreement is governed by Saudi Law

11. Execution: Signature blocks and execution requirements

Optional Sections

1. Non-Competition: Restrictions on working for competitors, used for senior positions or employees with access to sensitive information

2. Non-Solicitation: Restrictions on approaching company employees or clients, typically for sales or senior positions

3. Ongoing Cooperation: Requirements for assistance in handover or future inquiries, used for complex roles

4. Reference: Terms regarding future employment references, included when specifically negotiated

5. Benefits Continuation: Any continued benefits post-termination, used for negotiated exits or senior positions

6. Legal Claims Release: Mutual release of claims, included in cases of potential disputes or negotiated exits

7. Repatriation: Terms for repatriation of expatriate employees, used for foreign workers

8. Share Options/Awards: Treatment of outstanding share options or awards, for employees in share schemes

Suggested Schedules

1. Schedule 1 - Final Settlement Calculation: Detailed breakdown of all financial entitlements and deductions

2. Schedule 2 - Company Property List: Itemized list of company property to be returned

3. Schedule 3 - Benefits Summary: Summary of benefits and their treatment post-termination

4. Appendix A - Confidential Information Definition: Detailed description of what constitutes confidential information

5. Appendix B - Non-Competition Terms: Specific details of non-competition restrictions if applicable

6. Appendix C - Certificate of Service: Standard certificate confirming employment period and position

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Technology

Manufacturing

Retail

Healthcare

Construction

Professional Services

Energy & Utilities

Telecommunications

Education

Hospitality

Transportation & Logistics

Relevant Teams

Human Resources

Legal

Finance

Operations

Sales

Information Technology

Administration

Customer Service

Research & Development

Marketing

Procurement

Executive Management

Relevant Roles

Chief Executive Officer

Managing Director

Department Manager

Senior Executive

Project Manager

Sales Representative

Technical Specialist

Administrative Assistant

Operations Manager

Finance Manager

HR Manager

Software Developer

Account Manager

General Employee

Supervisor

Industries
Saudi Labor Law (Royal Decree No. M/51): Primary legislation governing employment relationships, including termination procedures, employee rights, and obligations during separation
End of Service Benefits Regulations (Article 84-88 of Saudi Labor Law): Specific provisions detailing the calculation and payment of end-of-service benefits based on years of service and reason for termination
Social Insurance Law (GOSI): Regulations regarding social insurance contributions and settlement during employment termination
Saudi Arabian Monetary Authority (SAMA) Regulations: Regulations governing final settlement of wages and benefits through bank transfers
Non-Competition Regulations (Article 83 of Saudi Labor Law): Provisions governing post-employment competition restrictions and their enforceability
Data Protection and Privacy Regulations: Laws governing the handling and protection of employee personal data during and after employment
Wage Protection System (WPS) Requirements: Regulations ensuring proper documentation and payment of final settlements through the WPS system
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

No items found.

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.