This Voluntary Termination agreement is essential for properly documenting and managing employee-initiated separations in the Philippines. It should be used when an employee decides to voluntarily end their employment relationship and both parties wish to formalize the terms of separation. The document ensures compliance with Philippine labor laws and regulations, particularly the Labor Code of the Philippines and DOLE guidelines. It includes critical elements such as the termination date, final pay computation, benefit settlements, clearance requirements, and confidentiality obligations. This agreement helps protect both employer and employee interests by clearly documenting the voluntary nature of the separation and establishing mutual understanding of all termination terms and conditions.
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1. Parties: Identification of the employer and employee, including their complete legal names and addresses
2. Background: Brief context of the employment relationship, including start date and current position
3. Definitions: Key terms used throughout the agreement
4. Voluntary Termination: Clear statement of the employee's voluntary decision to terminate employment and the effective date
5. Final Pay and Benefits: Detailed breakdown of final salary, pro-rated 13th month pay, unused leave credits, and other statutory benefits
6. Release and Quitclaim: Mutual release of claims and liabilities between parties
7. Company Property: Requirements for return of company property and documentation
8. Confidentiality: Ongoing obligations regarding confidential information
9. Governing Law: Specification of Philippine law as governing law
10. Execution: Signature blocks and execution requirements
1. Transition Period: Include when the employee agrees to a handover period before final departure
2. Non-Competition: Include if there are existing non-compete obligations that will continue post-employment
3. Reference Letter: Include if the employer agrees to provide a reference letter
4. Post-Employment Benefits: Include if there are continuing benefits like health insurance extension
5. Exit Interview: Include if there are specific requirements for completing an exit interview
6. Severance Package: Include if the employer is offering additional severance beyond statutory requirements
1. Schedule 1 - Final Pay Computation: Detailed calculation of all final payments including salary, benefits, and deductions
2. Schedule 2 - Company Property Checklist: List of company property to be returned
3. Schedule 3 - Clearance Requirements: Checklist of clearance requirements from different departments
4. Appendix A - Employee Information: Details of employee's employment history and current position
5. Appendix B - Benefits Summary: Summary of benefits and their treatment upon termination
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