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Transfer Of Service Agreement
"I need a Transfer of Service Agreement for transferring our Chief Technology Officer from our main company to our newly established Saudi tech subsidiary, effective March 1, 2025, ensuring continuation of their existing benefits and adding new stock options."
1. Parties: Identification of the current employer (transferor), new employer (transferee), and reference to the affected employee(s)
2. Background: Context of the transfer, business rationale, and reference to any broader transaction or restructuring
3. Definitions: Key terms used throughout the agreement, including 'Transfer Date', 'Services', 'Employment Benefits', etc.
4. Transfer of Employment: Core terms of the employment transfer, including effective date and continuation of service
5. Continuous Service and Seniority: Confirmation that the employee's service period will be considered continuous and recognition of accumulated seniority
6. Employment Terms and Conditions: Confirmation of maintained or modified employment terms post-transfer
7. End of Service Benefits: Handling of accrued end of service benefits and responsibility for payment
8. Employee Obligations: Employee's duties, responsibilities, and obligations post-transfer
9. Transferor Obligations: Current employer's responsibilities before and during the transfer
10. Transferee Obligations: New employer's commitments and responsibilities regarding the transferred employee(s)
11. Compliance with Laws: Commitment to comply with Saudi Labor Law and other relevant regulations
12. Confidentiality: Protection of confidential information during and after the transfer process
13. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanisms
1. Intellectual Property Rights: Section needed when transfer involves employees working with proprietary information or creating intellectual property
2. Non-Competition and Non-Solicitation: Include when requiring post-transfer restrictions on employee activities
3. International Transfer Provisions: Required for transfers involving international elements or expatriate employees
4. Group Transfer Provisions: Include when transfer involves multiple employees as part of a group transfer
5. Training and Development: Include when specific training or development programs are part of the transfer arrangement
6. Housing and Transportation: Required when transfer includes changes to housing or transportation benefits
7. Visa and Work Permit: Include for transfers affecting expatriate employees requiring visa transfers
1. Schedule 1 - Employee Details: Complete information about the transferring employee(s), including position, salary, and benefits
2. Schedule 2 - Terms and Conditions of Employment: Detailed current employment terms and any modifications post-transfer
3. Schedule 3 - Transfer Timeline: Detailed timeline of the transfer process and key milestones
4. Schedule 4 - Benefits and Entitlements: Comprehensive list of employee benefits, both current and post-transfer
5. Appendix A - Required Documents: List of documents required for the transfer process
6. Appendix B - Handover Plan: Detailed plan for transitioning responsibilities and ongoing projects
Authors
Banking and Financial Services
Oil and Gas
Manufacturing
Technology and IT
Healthcare
Construction
Retail
Professional Services
Education
Telecommunications
Government and Public Sector
Transportation and Logistics
Energy
Real Estate
Human Resources
Legal
Compliance
Employee Relations
Corporate Affairs
Operations
Administration
Talent Management
Compensation and Benefits
Risk Management
Human Resources Director
Legal Counsel
HR Manager
Compliance Officer
Employee Relations Manager
Corporate Lawyer
HR Business Partner
Operations Manager
Recruitment Manager
Compensation and Benefits Manager
Legal Manager
Chief Human Resources Officer
Chief Legal Officer
HR Operations Manager
Talent Acquisition Manager
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