An Amendment To Severance Agreement is utilized when parties need to modify the terms of an existing severance arrangement in Saudi Arabia. This document becomes necessary when circumstances require adjustments to previously agreed termination terms, such as changes in payment schedules, benefit calculations, or additional conditions. It must strictly adhere to Saudi Labor Law and Sharia principles, particularly regarding end-of-service benefits calculations and payment mechanisms. The amendment typically includes references to the original agreement, specific modifications, and updated calculations of benefits. It's essential for documenting changes in employment separation terms while ensuring compliance with local regulatory requirements, including the Wage Protection System and social insurance regulations.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Reference to the original severance agreement, its date, and the reason for amendment
3. Definitions: Key terms used in the amendment, including references to terms from the original agreement
4. Amendment Effective Date: The date when the modifications to the original agreement take effect
5. Scope of Amendment: Clear identification of which provisions of the original agreement are being modified
6. Modified Terms: Detailed description of the changes to the original severance terms
7. Reaffirmation: Confirmation that all other terms of the original agreement remain in full force and effect
8. Governing Law: Confirmation of Saudi Law and Sharia principles as governing law
9. Execution: Signature blocks for all parties and witnesses as required under Saudi law
1. Additional Consideration: Details of any new or additional benefits being provided as part of the amendment
2. Confidentiality Provisions: Additional or modified confidentiality terms, if changes to existing provisions are needed
3. Tax Implications: Clarification of tax treatment if the amendment affects the tax status of payments
4. Release Modifications: Any changes to existing release provisions or additional release terms
5. Dispute ReΊμΠΣΦ±²₯: Modified dispute reΊμΠΣΦ±²₯ procedures, if different from original agreement
6. Currency Provisions: Required if payments are to be made in a currency other than Saudi Riyal
1. Schedule A - Revised Payment Terms: Detailed breakdown of modified severance payments and calculation methodology
2. Schedule B - Payment Timeline: Updated schedule of payment dates and amounts
3. Schedule C - Original Agreement: Copy of the original severance agreement being amended
4. Appendix 1 - Required Governmental Approvals: Any necessary regulatory or governmental approvals for the amendment
5. Appendix 2 - Benefits Calculation: Updated calculation of end-of-service benefits under Saudi Labor Law
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