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Lifetime Employment Contract Template for Malaysia

A comprehensive employment agreement governed by Malaysian law that establishes a lifetime employment relationship between an employer and employee. This contract provides detailed terms for permanent employment until retirement or specific termination conditions, incorporating Malaysian employment legislation including the Employment Act 1955 and Industrial Relations Act 1967. The document outlines extensive provisions for long-term employment security, career progression, benefits, and protection for both parties, while ensuring compliance with Malaysian labor laws and regulatory requirements.

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What is a Lifetime Employment Contract?

The Lifetime Employment Contract is designed for use in the Malaysian business context where organizations seek to establish permanent, long-term employment relationships with key personnel. This contract type, influenced by Asian business practices particularly Japanese management philosophy, provides comprehensive employment terms that extend until the employee's retirement age or agreed termination conditions. It is particularly suitable for senior executives, specialized technical experts, or key personnel whom the company wishes to retain permanently. The document incorporates all necessary provisions under Malaysian employment law, including compliance with the Employment Act 1955, Industrial Relations Act 1967, and relevant social security legislation. It includes detailed sections on compensation, benefits, career progression, and protection mechanisms for both employer and employee, reflecting the long-term commitment inherent in such arrangements.

What sections should be included in a Lifetime Employment Contract?

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

2. Background: Context of the lifetime employment arrangement and the basis for entering into this agreement

3. Definitions: Key terms used throughout the agreement including 'lifetime employment', 'cause for termination', and other relevant definitions

4. Term and Nature of Employment: Specification of the lifetime nature of the employment and conditions under which it remains valid

5. Position and Duties: Description of the employee's role, responsibilities, and reporting structure

6. Compensation and Benefits: Base salary, bonuses, benefits, and mechanism for periodic review and adjustment

7. Working Hours and Leave: Standard working hours, overtime provisions, and various types of leave entitlements

8. Performance Standards: Expected performance levels and evaluation criteria

9. Confidentiality and Intellectual Property: Protection of company information and ownership of work product

10. Termination Provisions: Limited circumstances under which the lifetime employment can be terminated

11. Dispute Resolution: Process for resolving any employment-related disputes

12. Governing Law: Specification of Malaysian law as governing law and relevant jurisdictional matters

What sections are optional to include in a Lifetime Employment Contract?

1. Mobility Clause: Required if the employee may need to relocate or work from different locations

2. Education and Training: Include when the employer provides ongoing professional development programs

3. Housing and Accommodation: Necessary if the employer provides housing benefits

4. Non-Competition: Include if restricting employee's ability to work for competitors during or after employment

5. International Assignment: Required if the employee may be assigned to work overseas

6. Retirement Planning: Include provisions for transition to retirement while maintaining employment relationship

7. Disability Accommodation: Include specific provisions for accommodating potential future disabilities

8. Succession Planning: Include if the employee is in a key position requiring succession planning

What schedules should be included in a Lifetime Employment Contract?

1. Schedule A - Compensation Structure: Detailed breakdown of salary components, benefits, and increment structure

2. Schedule B - Job Description: Detailed description of roles, responsibilities, and performance metrics

3. Schedule C - Benefits Package: Comprehensive list of all benefits, insurance coverage, and perks

4. Schedule D - Company Policies: Reference to applicable company policies and procedures

5. Appendix 1 - Performance Evaluation Framework: Detailed performance assessment criteria and process

6. Appendix 2 - Training and Development Plan: Outline of professional development opportunities and requirements

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

Jurisdiction

Malaysia

Publisher

Genie AI

Document Type

Employment Contract

Cost

Free to use

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