The Employee Deed of Release is a critical document used in Malaysian employment relationships when formally concluding an employment arrangement through mutual agreement or as part of a negotiated exit. This document is essential when parties wish to achieve a clean break and prevent future disputes by documenting all agreed terms of separation. The deed typically includes provisions for financial settlements, confidentiality obligations, and mutual releases of claims, ensuring compliance with Malaysian employment legislation. It's particularly important in scenarios involving senior executives, redundancies, or where there might be potential disputes. The document must be carefully drafted to ensure it meets the requirements of Malaysian law, including the Employment Act 1955 and Industrial Relations Act 1967, while providing adequate protection for both employer and employee interests.
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1. Parties: Identifies and defines the parties to the deed - typically the employer and the employee
2. Background: Sets out the context of the employment relationship, termination circumstances, and reason for the deed
3. Definitions: Defines key terms used throughout the deed
4. Termination of Employment: Confirms the termination date and circumstances of the employment ending
5. Settlement Payment: Details the amount, timing, and method of any settlement payment
6. Release and Waiver: The core section where the employee releases the employer from claims
7. Tax Implications: Addresses the tax treatment of settlement payments and responsibilities
8. Confidentiality: Obligations regarding confidentiality of the deed and company information
9. Return of Property: Requirements for returning company property and documents
10. Non-Disparagement: Mutual obligations not to make negative statements about each other
11. Governing Law: Specifies Malaysian law as governing law and jurisdiction
12. Execution: Formal requirements for signing and witnessing the deed
1. Post-Employment Restrictions: Reaffirmation or modification of existing non-compete and non-solicitation obligations
2. Ongoing Cooperation: Requirements for the employee to assist with handover or future inquiries
3. Reference: Terms regarding future employment references
4. Medical Insurance Extension: Details of any continued medical benefits post-termination
5. Stock Options/Share Rights: Treatment of any outstanding equity-based compensation
6. Legal Costs: Provisions regarding payment of legal costs for deed review
7. Assistance in Litigation: Employee's obligation to assist in future litigation or investigations
8. Garden Leave: Terms of any garden leave period before final termination
1. Settlement Payment Breakdown: Detailed breakdown of all payment components including statutory and ex-gratia payments
2. Company Property List: Comprehensive list of company property to be returned
3. Existing Employment Contract: Copy or reference to the original employment contract
4. Outstanding Claims List: List of all claims being settled by the deed
5. Benefits Summary: Summary of benefits and their treatment post-termination
6. Certificate of Independent Legal Advice: Confirmation that employee received independent legal advice
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