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Basic Separation Agreement
"I need a Basic Separation Agreement under Hong Kong law for a senior marketing manager who will be leaving amicably on March 15, 2025, with a 3-month garden leave period and standard non-compete restrictions."
1. Parties: Identification of the employer and employee with full legal names and addresses
2. Background: Brief recital of employment history and mutual agreement to terminate
3. Definitions: Definitions of key terms used throughout the agreement
4. Termination Date: Specification of the official end date of employment
5. Final Payment and Benefits: Details of salary, unused leave, and statutory payments due
6. Tax Treatment: Clarification of tax handling for various payment components
7. Company Property: Requirements for return of company property and documents
8. Confidentiality: Ongoing obligations regarding confidential information
9. Full and Final Settlement: Mutual release of claims and waiver of rights
10. Governing Law: Specification of Hong Kong law as governing law
11. Entire Agreement: Confirmation that this document represents the complete agreement between parties
1. Post-termination Restrictions: Non-compete and non-solicitation clauses, typically included for senior employees or those with access to sensitive information
2. Reference: Terms regarding the provision of employment references, if agreed
3. Continuation of Benefits: Details of any benefits extending beyond termination date, such as medical coverage
4. Legal Fees: Agreement on payment of legal fees for agreement review, if applicable
5. Outplacement Support: Details of any career transition services provided, typically for senior roles
6. Garden Leave: Terms of any garden leave period before final termination, if applicable
7. Share Options/Awards: Treatment of outstanding equity compensation, if employee participated in such schemes
1. Schedule 1 - Payment Calculation: Detailed breakdown of all payments including salary, statutory payments, and other benefits
2. Schedule 2 - Company Property: Itemized list of company property to be returned
3. Schedule 3 - Post-termination Restrictions: Detailed terms of any continuing restrictions on employee activities
4. Appendix A - Acknowledgment Form: Form confirming return of company property and documents
5. Appendix B - Tax Declaration: Employee's declaration regarding tax treatment of payments
Authors
Financial Services
Technology
Manufacturing
Retail
Professional Services
Healthcare
Education
Real Estate
Construction
Hospitality
Telecommunications
Media and Entertainment
Logistics and Transportation
Consumer Goods
Energy
Human Resources
Legal
Finance
Operations
Sales
Marketing
Information Technology
Research and Development
Customer Service
Administration
Production
Supply Chain
Business Development
Risk and Compliance
Strategy
Chief Executive Officer
Chief Financial Officer
Director
Senior Manager
Manager
Executive
Officer
Administrator
Supervisor
Coordinator
Specialist
Analyst
Associate
Assistant
General Staff
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