The Full and Final Settlement Agreement For Employee is a critical document used in Saudi Arabia when concluding employment relationships, whether through resignation, termination, or mutual agreement. It serves as a comprehensive record of the final settlement between employers and employees, incorporating all requirements under Saudi Labor Law and related regulations. The agreement typically includes calculations of end-of-service benefits, unused leave, final salary, and any other entitlements or obligations. It provides legal protection for both parties by documenting that all employment-related matters have been settled and that neither party has any further claims against the other. The document must comply with Saudi Labor Law requirements and should be available in both Arabic and English when dealing with non-Arabic speaking employees.
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1. Parties: Identification of the employer and employee, including full legal names, addresses, and relevant identification numbers
2. Background: Brief overview of the employment relationship, including start date, position, and circumstances leading to termination
3. Definitions: Key terms used throughout the agreement, including references to Saudi Labor Law terms
4. Termination Date: Clear statement of the official end date of employment
5. Settlement Amount: Detailed breakdown of the total settlement amount, including salary, end of service benefits, and other entitlements
6. Payment Terms: Details of how and when the settlement amount will be paid, including banking information
7. Employee Entitlements: Comprehensive list of all entitlements being settled, including leave, bonuses, and benefits
8. Tax and GOSI: Statement regarding tax implications and settlement of GOSI contributions
9. Company Property: Requirements for return of company property and confirmation of returns made
10. Confidentiality: Ongoing obligations regarding confidential information
11. Full and Final Settlement: Statement confirming this is a full and final settlement of all claims
12. Governing Law: Confirmation that the agreement is governed by Saudi Law and Sharia principles
13. Execution: Signature blocks and execution requirements
1. Non-Competition: Include when the employee had access to sensitive information or clients and there's a need to restrict future employment
2. References: Include when there's an agreement about providing employment references
3. Outstanding Loans: Include when there are any company loans or advances to be settled
4. Continuing Obligations: Include when specific obligations need to survive the termination
5. Legal Consultation: Include when the employee has received legal advice before signing
6. Resignation Letter: Include when the settlement is connected to a voluntary resignation
7. Visa/Sponsorship: Include for expatriate employees requiring transfer or cancellation of sponsorship
1. Schedule 1 - Payment Calculation: Detailed calculation of all payment components including basic salary, end of service benefits, and other entitlements
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Employee Benefits Statement: Statement of all benefits and their status upon termination
4. Appendix A - Resignation Letter: Copy of the employee's resignation letter (if applicable)
5. Appendix B - Final Clearance Form: Standard company clearance form showing all departments' sign-off
6. Appendix C - Service Certificate: Draft of the service certificate to be provided to the employee
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Relevant Industries
Banking & Financial Services
Manufacturing
Technology
Healthcare
Retail
Construction
Oil & Gas
Education
Telecommunications
Professional Services
Hospitality
Real Estate
Transportation & Logistics
Mining
Media & Entertainment
Relevant Teams
Human Resources
Legal
Finance
Payroll
Compliance
Employee Relations
Corporate Services
Administration
Relevant Roles
HR Director
HR Manager
Legal Counsel
Finance Manager
Payroll Manager
HR Business Partner
Compensation & Benefits Manager
Employee Relations Manager
Legal Manager
Chief Human Resources Officer
HR Operations Manager
HR Administrator
Chief Legal Officer
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Chief Financial Officer
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