The Mutual Agreement To Terminate Employment is utilized when both employer and employee in Malaysia mutually agree to end their employment relationship amicably. This document is particularly relevant when parties wish to formalize a voluntary separation under terms that differ from standard resignation or termination procedures. It must comply with Malaysian employment laws, including the Employment Act 1955 and Industrial Relations Act 1967. The agreement typically includes comprehensive details about final settlements, benefits, confidentiality obligations, and release of claims. It serves as a legally binding document that protects both parties' interests and prevents future disputes by clearly documenting the agreed terms of separation.
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1. Parties: Identifies the employer and employee with full legal names, addresses, and relevant registration/identification numbers
2. Background: Brief recital of the existing employment relationship, including original employment date and current position
3. Definitions: Defines key terms used in the agreement including 'Termination Date', 'Final Settlement', and other relevant terms
4. Mutual Agreement to Terminate: Clear statement that both parties agree to terminate the employment relationship voluntarily
5. Termination Date: Specifies the official last day of employment and any transition period if applicable
6. Final Settlement: Details of all payments due to the employee, including salary, notice period, outstanding leave, and other entitlements
7. Company Property: Requirements for returning company property and handling of company information
8. Confidentiality: Ongoing obligations regarding confidential information
9. Full and Final Settlement: Confirmation that the agreement represents a full and final settlement of all claims
10. Governing Law: Specifies that the agreement is governed by Malaysian law
11. Execution: Signature blocks for both parties and witnesses
1. Non-Competition and Non-Solicitation: Restrictions on future employment and client/employee solicitation, if applicable to the employee's role
2. Reference Letter: Terms regarding the provision of employment references
3. Medical Benefits Extension: Any continuation of medical benefits beyond termination date
4. Special Incentives: Any additional payments or benefits beyond statutory requirements
5. Tax Indemnity: Clarification of tax responsibilities for termination payments
6. Transitional Assistance: Details of any handover process or transition support
7. Surviving Obligations: Specific obligations that continue after termination
1. Schedule 1 - Payment Breakdown: Detailed itemization of all payments including basic salary, prorated bonus, leave encashment, and other benefits
2. Schedule 2 - Company Property List: Comprehensive list of company property to be returned
3. Schedule 3 - Employee Benefits Summary: Summary of benefits and their treatment post-termination
4. Appendix A - Handover Checklist: List of tasks and responsibilities to be handed over before departure
5. Appendix B - Confidential Information Declaration: Declaration confirming treatment of confidential information
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