An Assignment Of Employment Agreement becomes necessary during corporate restructuring, mergers, acquisitions, or when business units are transferred between entities. This document, governed by English and Welsh law, ensures a smooth transition of employment relationships while maintaining compliance with employment legislation, including TUPE regulations where applicable. It typically includes detailed provisions about the transfer of rights and obligations, employee benefits, pension arrangements, and any modifications to the original employment terms. The agreement requires careful consideration of both statutory requirements and the specific circumstances of the transfer to protect all parties' interests.
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1. Parties: Identifies the assignor (current employer), assignee (new employer), and employee
2. Background: Explains the context of the assignment and details of the original employment agreement
3. Definitions: Defines key terms used throughout the agreement including 'Original Employment Agreement', 'Assignment Date', etc.
4. Assignment: Core terms detailing the transfer of employment rights and obligations from assignor to assignee
5. Effective Date: Specifies when the assignment takes effect and any conditions precedent
6. Employee Consent: Confirmation of employee's agreement to the assignment and acknowledgment of terms
1. TUPE Provisions: Additional provisions required when the assignment is part of a larger business transfer under TUPE regulations
2. Pension Arrangements: Specific provisions dealing with the transfer of pension rights and obligations
3. Restrictive Covenants: Provisions dealing with the transfer and continued application of any existing restrictive covenants
1. Schedule 1 - Original Employment Agreement: Complete copy of the employment agreement being assigned
2. Schedule 2 - Employee Benefits: Comprehensive list of employee benefits being transferred including insurance, bonus schemes, and other perks
3. Schedule 3 - Modified Terms: Details of any variations to the original employment terms taking effect upon assignment
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