Legal Templates
ReduNDAncy Agreement

ReduNDAncy Agreement for Singapore

ReduNDAncy Agreement Template for Singapore

A ReduNDAncy Agreement under Singapore law is a formal contract between an employer and employee that sets out the terms and conditions of employment termination due to reduNDAncy. The agreement typically covers severance payments, notice periods, and other entitlements in accordance with Singapore's Employment Act and Ministry of Manpower guidelines. It includes provisions for final payments, return of company property, confidentiality obligations, and mutual releases of claims.

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What is a ReduNDAncy Agreement?

The ReduNDAncy Agreement is used when a company in Singapore needs to formally document the termination of employment due to position reduNDAncy. It ensures compliance with Singapore employment laws, including the Employment Act and MOM guidelines, while protecting both employer and employee interests. The agreement typically becomes necessary during business restructuring, economic downturns, or organizational changes that result in position eliminations. It should detail severance packages, notice periods, continuing obligations, and any additional benefits or support offered to the affected employee.

What sections should be included in a ReduNDAncy Agreement?

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

2. Background: Context of reduNDAncy decision, employment history, and current circumstances leading to the agreement

3. Definitions: Key terms used tHRoughout the agreement including 'Termination Date', 'ReduNDAncy Payment', etc.

4. Termination Date: Specific date employment will end and confirmation of notice period arrangements

5. ReduNDAncy Payment: Amount, calculation and payment terms of the severance package, including tax treatment

6. Final Payments: Treatment of salary, unused leave, bonuses, and other outstanding entitlements

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

8. Confidentiality: Ongoing obligations regarding company confidential information and trade secrets

9. Release of Claims: Mutual release of employment-related claims and waiver of rights to future claims

What sections are optional to include in a ReduNDAncy Agreement?

1. Outplacement Support: Details of career transition assistance and duration of support services

2. Reference Letter: Terms and format of employment reference to be provided

3. Non-Competition: Post-employment competition restrictions and duration

4. Medical Benefits Extension: Terms of continued health coverage beyond termination date

What schedules should be included in a ReduNDAncy Agreement?

1. Schedule 1 - Calculation of ReduNDAncy Payment: Detailed breakdown of severance payment calculation including base pay, years of service, and any additional benefits

2. Schedule 2 - Company Property List: Comprehensive inventory of company items to be returned by termination date

3. Schedule 3 - Final Payment Statement: Itemized breakdown of all final payments including leave, bonuses, and deductions

4. Appendix A - Form of Release: Standard form legal release document to be signed by both parties

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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Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Settlement Agreement

Sector

Employment

Cost

Free to use
Industries

Employment Act (Chapter 91): Primary legislation governing employment in Singapore, covering termination procedures, minimum notice periods, salary entitlements, and leave rights. Particular focus on Parts III, IV, and V regarding termination of employment.

Retirement and Re-employment Act: Legislation ensuring protection of older workers in reduNDAncy situations, including specific provisions for retirement age and re-employment obligations.

MOM Tripartite Guidelines: Guidelines on Managing Excess Manpower and Responsible Retrenchment, including mandatory retrenchment notifications for businesses with 10+ employees.

Industrial Relations Act: Legislation governing union relations and collective agreements, crucial for reduNDAncy processes involving unionized employees.

Central Provident Fund Act: Regulations regarding CPF contributions, obligations, and treatment during employment termination, including handling of CPF during reduNDAncy.

Income Tax Act: Legislation governing tax treatment of reduNDAncy payments and associated reporting obligations to tax authorities.

Personal Data Protection Act 2012: Requirements for handling employee personal data during reduNDAncy process, including data retention and protection obligations.

Retrenchment Benefits: Calculation methods and requirements for reduNDAncy compensation, including statutory and contractual obligations.

Notice Period Requirements: Statutory and contractual notice periods for termination, including provisions for payment in lieu of notice.

Confidentiality and Non-Compete: Post-employment restrictions including confidentiality obligations, non-competition clauses, and non-solicitation provisions.

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

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