The Renewal Of Employment Contract is essential when an existing employment agreement is approaching its end date and both parties wish to continue their working relationship. This document is commonly used in Nigeria across various industries to formalize the extension of employment while ensuring compliance with Nigerian labor laws, including the Labour Act and other relevant employment legislation. It typically includes references to the original employment contract, specifies any updates to terms and conditions, and outlines any changes in compensation or responsibilities. The renewal contract serves as a crucial tool for maintaining clear employment relationships, protecting both employer and employee interests, and ensuring proper documentation of the continued employment arrangement. It's particularly important in fixed-term contract situations or when significant changes to the employment terms are being implemented alongside the renewal.
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1. Parties: Identification of the employer and employee with full legal names and addresses
2. Background: Reference to the original employment contract, its date, and the mutual desire to renew the employment relationship
3. Definitions: Key terms used in the renewal agreement, including reference to definitions from the original contract that remain applicable
4. Term of Renewal: Duration of the renewal period, including start and end dates
5. Continuation of Employment: Confirmation that employment continues under the same general terms and conditions as the original contract, except as modified in this renewal
6. Remuneration: Current salary, allowances, and any adjustments from the previous contract
7. Position and Duties: Confirmation of the employee's role and responsibilities, noting any changes from the original contract
8. Governing Law: Confirmation that the contract is governed by Nigerian law
9. Signatures: Space for both parties to execute the renewal agreement
1. Modified Terms: Used when specific terms from the original contract are being changed in the renewal
2. Performance Review: Include when the renewal is contingent on or follows a performance evaluation
3. Professional Development: Used when including new training or development requirements
4. Non-Competition Update: Include when updating or adding non-compete provisions
5. Confidentiality Renewal: Used when updating or reinforcing confidentiality obligations
6. Benefits Modification: Include when there are changes to the employee benefits package
7. Reporting Structure: Used when there are changes in the employee's reporting relationships
1. Schedule A - Updated Compensation Details: Detailed breakdown of salary, allowances, and benefits
2. Schedule B - Job Description: Updated detailed description of roles and responsibilities
3. Schedule C - Performance Targets: Specific performance expectations for the renewal period
4. Appendix 1 - Original Contract Reference: Copy or summary of relevant terms from the original employment contract
5. Appendix 2 - Company Policies: Updated company policies applicable to the renewed contract
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Oil and Gas
Manufacturing
Technology
Telecommunications
Healthcare
Education
Retail
Construction
Professional Services
Hospitality
Agriculture
Mining
Transportation
Media and Entertainment
Relevant Teams
Human Resources
Legal
Finance
Operations
Administration
Compliance
Management
Executive Leadership
Relevant Roles
Chief Executive Officer
Managing Director
Department Manager
Senior Manager
Project Manager
Human Resources Manager
Finance Director
Operations Manager
Technical Specialist
Sales Executive
Administrative Officer
Research Analyst
Production Supervisor
Marketing Manager
Legal Counsel
IT Manager
Account Manager
Customer Service Manager
Quality Assurance Manager
Business Development Manager
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