The Resignation Settlement Agreement is a crucial document used in Malaysian employment contexts when an employee and employer agree to formalize the terms of a resignation and associated settlement. This document is particularly important in situations where both parties wish to ensure a clean break and prevent future disputes. It typically includes provisions for financial settlement, benefit arrangements, confidentiality obligations, and mutual releases, all structured in compliance with Malaysian employment law, including the Employment Act 1955 and Industrial Relations Act 1967. The agreement serves to protect both parties' interests by clearly documenting all agreed terms and ensuring that the separation process follows local legal requirements while maintaining professional relationships.
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1. Parties: Identification of the employer and employee, including full legal names and registration/identification numbers
2. Background: Brief history of employment relationship, reason for resignation, and context for the settlement agreement
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Effective Date and Last Working Day: Clear specification of when the resignation takes effect and the employee's final working day
5. Settlement Terms: Detailed breakdown of all payments and benefits to be provided as part of the settlement
6. Tax Treatment: Clarification of tax implications and responsibilities for settlement payments
7. Full and Final Settlement: Confirmation that the agreement represents a full and final settlement of all claims
8. Release and Waiver: Mutual release from claims and liabilities related to the employment
9. Confidentiality: Obligations regarding non-disclosure of agreement terms and company information
10. Return of Company Property: Requirements for returning all company assets and documents
11. Governing Law: Specification of Malaysian law as governing law and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Non-Disparagement: Mutual obligations not to make negative statements, included when there's potential for reputational impact
2. Reference: Terms regarding future employment references, included when agreed as part of settlement
3. Post-Employment Restrictions: Non-compete and non-solicitation clauses, included when protecting business interests is crucial
4. Continuation of Benefits: Details of any benefits extending beyond termination date, included when applicable
5. Legal Advice: Acknowledgment of independent legal advice, included when required by complexity or circumstances
6. Assistance with Transition: Terms for handover and transition support, included when necessary for business continuity
7. Stock Options/Share Rights: Treatment of any equity-based compensation, included when employee has such benefits
1. Schedule 1 - Settlement Payment Breakdown: Detailed itemization of all settlement payments and their calculation
2. Schedule 2 - Company Property Checklist: List of all company property to be returned
3. Schedule 3 - Benefits Summary: Summary of benefits and their treatment post-termination
4. Appendix A - Resignation Letter: Copy of the formal resignation letter
5. Appendix B - Release Form: Detailed release of claims form if separate from main agreement
Relevant legal definitions
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Relevant Industries
Banking & Financial Services
Technology
Manufacturing
Professional Services
Retail
Healthcare
Education
Construction
Telecommunications
Energy & Utilities
Real Estate
Hospitality
Transportation & Logistics
Media & Entertainment
Relevant Teams
Human Resources
Legal
Finance
Compliance
Corporate Secretarial
Risk Management
Operations
Senior Management
Executive Leadership
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Senior Manager
Department Head
Director
Vice President
Regional Manager
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General Manager
Senior Executive
Technical Lead
Project Manager
Account Manager
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