The Termination Of Employment Contract is a crucial legal document used in Nigeria when ending an employment relationship, whether through mutual agreement, resignation, or dismissal. It must comply with the Nigerian Labour Act, the Constitution of the Federal Republic of Nigeria 1999, and other relevant employment legislation. This document is essential for protecting both employer and employee interests by clearly documenting the termination terms, including notice periods, final payments, benefits settlement, return of company property, and ongoing obligations such as confidentiality. It helps prevent future disputes by providing a clear record of the agreed termination terms and ensures all statutory requirements are met. The document should be customized based on the employee's position, length of service, and specific circumstances of the termination while maintaining compliance with Nigerian employment law.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Brief context of the employment relationship, including original start date and position
3. Definitions: Definitions of key terms used in the agreement
4. Termination Date: Clear specification of the effective date of termination
5. Notice Period: Details of notice period given or payment in lieu of notice
6. Final Payment: Breakdown of final salary, accrued leave, and other entitlements
7. Company Property: Obligation to return all company property and documents
8. Confidentiality: Ongoing obligations regarding confidential information
9. Full and Final Settlement: Confirmation that the agreement represents full and final settlement
10. Governing Law: Confirmation that the agreement is governed by Nigerian law
1. Restrictive Covenants: Non-compete and non-solicitation clauses, typically for senior positions
2. Reference: Terms regarding the provision of future employment references
3. Garden Leave: Provisions for garden leave during notice period, if applicable
4. Legal Representation: Acknowledgment that parties had opportunity to seek legal advice
5. Mutual Release: Mutual waiver of claims when termination is by mutual agreement
6. Outplacement Support: Details of any career transition support offered
7. Share Options/Benefits: Treatment of outstanding share options or long-term benefits
1. Schedule 1 - Final Payment Calculation: Detailed breakdown of all final payments including salary, benefits, and statutory entitlements
2. Schedule 2 - Company Property List: Comprehensive list of company property to be returned
3. Schedule 3 - Outstanding Benefits: Details of any pro-rated bonuses, commission, or other benefits
4. Appendix A - Handover Notes: Template or requirements for handover documentation
5. Appendix B - Acknowledgment Forms: Forms confirming return of company property and compliance with termination terms
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