The Resignation Settlement Agreement is a crucial document used in Saudi Arabia when an employee voluntarily terminates their employment relationship. It serves as a comprehensive record of the separation terms, ensuring compliance with Saudi Labor Law and protecting both parties' interests. This document becomes necessary when an employee submits their resignation and both parties wish to formally document the terms of separation, including financial settlements, end-of-service benefits, and mutual obligations. The agreement typically includes detailed calculations of final payments, handling of company property, confidentiality obligations, and release of claims. It's particularly important in the Saudi Arabian context due to specific legal requirements regarding end-of-service benefits, notice periods, and other employment-related entitlements mandated by local labor laws. The document helps prevent future disputes by clearly documenting all aspects of the employment termination and ensuring all legal obligations are met.
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1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant registration/ID numbers
2. Background: Brief history of employment relationship, including start date, position, and context of resignation
3. Definitions: Key terms used throughout the agreement, including 'Effective Date', 'Final Settlement', 'Claims'
4. Resignation and Effective Date: Formal acknowledgment of resignation, notice period, and last working day
5. Settlement Payments: Detailed breakdown of all payments including salary, end-of-service benefits, and other entitlements
6. Tax and Social Insurance: Provisions regarding tax treatment and GOSI settlements
7. Release and Waiver: Mutual release of claims and waiver of rights, subject to settlement completion
8. Confidentiality: Obligations regarding company confidential information post-employment
9. Return of Company Property: Requirements for returning all company assets and documents
10. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanism
11. Execution: Signature blocks and execution requirements
1. Non-Competition and Non-Solicitation: Include when the employee held a senior position or had access to sensitive information
2. Intellectual Property Rights: Include when the employee was involved in creative or technical work
3. Ongoing Projects Handover: Include when there are specific projects requiring formal handover
4. Reference and Future Employment: Include when parties agree on terms for employment references
5. Post-Termination Assistance: Include when employee agrees to provide assistance after departure
6. Medical Insurance Extension: Include when discussing continuation or termination of medical benefits
7. Stock Options/Share Rights: Include when employee has company shares or stock options
1. Schedule 1 - Settlement Calculation: Detailed calculation of all payment components including basic salary, benefits, and end-of-service awards
2. Schedule 2 - Company Property List: Inventory of all company property to be returned
3. Schedule 3 - Outstanding Obligations: List of any pending tasks, reports, or duties to be completed before departure
4. Schedule 4 - Handover Plan: Detailed plan for knowledge transfer and handover of responsibilities
5. Appendix A - Employee Benefits Statement: Statement of all benefits and their treatment post-termination
6. Appendix B - Clearance Form: Standard company clearance form to be completed by various departments
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Technology
Manufacturing
Oil and Gas
Retail
Healthcare
Construction
Education
Professional Services
Telecommunications
Real Estate
Hospitality
Transportation and Logistics
Media and Entertainment
Relevant Teams
Human Resources
Legal
Finance
Compliance
Operations
Executive Leadership
Administration
Payroll
Employee Relations
Relevant Roles
HR Manager
HR Director
Legal Counsel
Compliance Officer
Finance Manager
Department Head
Chief Executive Officer
Managing Director
Operations Manager
Human Resources Business Partner
Legal Manager
Company Secretary
Compensation and Benefits Manager
Employee Relations Manager
HR Operations Manager
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