The Mutual Agreement To Terminate Employment is a crucial document used in Hong Kong when both employer and employee voluntarily agree to end their employment relationship outside of standard resignation or termination processes. This agreement is particularly valuable when parties wish to negotiate and document specific terms of separation that may differ from or expand upon statutory minimums under Hong Kong's Employment Ordinance. It typically includes comprehensive details about financial settlements, benefit arrangements, continuing obligations, and mutual releases. The document is commonly used during corporate restructuring, amicable separations, or when implementing mutually beneficial exit arrangements. It provides legal certainty and protection for both parties while ensuring compliance with Hong Kong employment laws and regulations. The agreement is especially important for managing potential legal risks and maintaining professional relationships post-employment.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Brief description of the employment relationship, original employment date, and mutual decision to terminate
3. Definitions: Key terms used in the agreement including 'Termination Date', 'Final Payment', etc.
4. Termination of Employment: Formal statement of mutual agreement to terminate and the effective date
5. Final Payment and Benefits: Details of all payments including salary, unused leave, bonuses, and statutory entitlements
6. Return of Company Property: Requirements for returning all company assets, documents, and equipment
7. Confidentiality Obligations: Ongoing obligations regarding confidential information
8. Full and Final Settlement: Mutual release of claims and waiver of rights
9. Tax Implications: Statement regarding tax treatment of payments and responsibilities
10. Governing Law: Specification of Hong Kong law as governing law
11. Execution: Signature blocks and execution requirements
1. Post-Termination Restrictions: Non-compete and non-solicitation clauses, if applicable to the employee's role
2. References: Agreement on the nature and content of future employment references
3. Garden Leave: Provisions for any garden leave period before final termination
4. Assistance with Handover: Requirements for knowledge transfer and handover of duties
5. Stock Options/Share Awards: Treatment of any outstanding equity compensation
6. Legal Representation: Acknowledgment that parties had opportunity to seek independent legal advice
7. Announcement: Agreement on how the departure will be communicated internally and externally
8. Surviving Family Benefits: Continuation of any benefits to family members if applicable
1. Schedule 1 - Calculation of Final Payment: Detailed breakdown of all payment components including salary, leave, bonuses, and statutory payments
2. Schedule 2 - Company Property Checklist: Itemized list of company property to be returned
3. Schedule 3 - Ongoing Benefits: Details of any benefits continuing post-termination
4. Appendix A - Certificate of Service: Standard certificate confirming employment period and position
5. Appendix B - Reference Letter: Agreed form of reference letter if applicable
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