(1) Action plans for the project (Sample)

Timeline
Actions
Explanatory remarks
May
Redundancy
Redundancy due to market contraction and deterioration of business
May ~
June
Reassignment
Efforts to avoid dismissal by adjusting employee workplace
Voluntary resignations
1st ERP: Selection from voluntary resignations
L-M Council
Explanation of the company's current situation and request for ideas/action to avoid dismissal
June 16
Announcement of
employment adjustment
This shall include corporate business status, urgent necessity for employment adjustment, schedules of dismissal, etc.
June 26
Voluntary resignations
2nd ERP
June 16
~Aug 5 (50 days)
Consultation
Efforts to avoid dismissal and criteria of selection for dismissal
Aug 6
Possibility
of
extension
Notification of
dismissal for
managerial reasons
Immediate dismissal (by paying 30 days' ordinary wages) and advance notice of dismissal in 30 days.
If necessary, 3rd ERP is possible.
󰋯Negotiation schedules may be altered according to the company's business situation
󰋯Active implementation of the ERPThe ERP shall be used to explain that employment adjustment is absolutely necessary, and to avoid dismissal for managerial reasons.







(2) Criteria for Selection for Managerial Dismissal (Sample)

Division
Criteria
Weight
Rating
Score
Personnel Evaluation
Average score of the 3 most recent annual personnel evaluations (considering rewards and disciplinary action)
30
A
30
　
B
20
C
10
D
0
Language Skills
Native speaking level
20
Excellent
20
　
Independent work performance
Very good
15
Not yet adequate to work independently
Good
10
Not possible to work independently
Poor
5
Length of time at the same title/grade
The department head's status will not be deducted in this evaluation.
-10
Less than 5 years
0
　
5 years or more
-5
7 years or more
-10
Long-Term Service
The length of service
30
Less than 3 years
0
　
3 years or more
10
5 years or more
20
10 years or more
30
Family Dependents
Dependents based upon year-end tax calculation data
20
None
0
　
1 person
2
2 persons
4
3 persons
8
4 persons
15
5 or more
20
Others
Certificates and/or qualifications
10

10
　
　
　
　
　
　
　
Total
100
　
　
/100




(3) Announcement (Sample)

We would like to say thank you for the special efforts you have made toward the development of the company.
The company has worked hard to improve AAA business since it changed to direct control of its sales business in January 20xx. Unfortunately, we have had two cases of AAA product recalls in November 20xx and May 20xx. To make matters worse, the company suffered great financial damage due to one manager’s negligence at work in September 20xx. Such repeated AAA product recalls and worsening of our AAA product reputation in the Korean market have made it increasingly difficult to maintain the current system of direct sales. Regrettably, we had to make the difficult decision to outsource current direct sales of AAA products to distributor sales starting September 2008.
Accordingly, the difficulty of the situation requires that we take measures to reduce the number of employees if we wish to survive in the Korean market. Before implementing these changes to the number of employees, we would like to consult with our employees (through employee representatives) concerning this issue. In this meeting, we would like to cooperatively conclude the most reasonable agreement on employment adjustment.
We kindly request that you continue to do your job to the best of your ability so that together we can get through this difficult time for the company and its employees.

Thank you.
July 14, 20xx
Representative Director of 0 0 0 Korea







(4) Rules For Early Retirement Program Bonuses

Established May 1, 20xx
Article 1 (Purpose)
These rules are designed as basic guidelines for payment of an early retirement program (hereinafter referred to as “ERP”) bonus applicable to employees of 000 Bank.

Article 2 (Definition of an ERP bonus)
An ERP bonus means an additional bonus paid outside the severance pay regulated by the Rules of Employment, to employees who have to resign due to company business normalization plans or employment adjustment plans (including headcount reduction plans).

Article 3 (Target Employees)
1. These rules are applicable to regular employees as stipulated by the company’s Rules of Employment.
2. For full-time advisors and other positions equivalent to director status, other rules will apply.

Article 4 (Calculation)
The company will calculate the ERP bonus based upon calculation of standard severance pay as follows:
- Standard severance pay = Consecutive service years (N) X 30 days’ daily average wage
- EPR bonus = {[N+(N X 50%)] + 6} X 30 days’ daily average wage

Article 5 (Payment)
If an employee retires or dies, the company shall pay the ERP bonus within 14 days; however, under special circumstances, this period may be extended.

Article 6 (Exceptions)
1. The rules are applicable only to regular employees who have served for one year or longer.
2. Even though an employee qualifies as a target employee for an ERP bonus by reason of resignation or other stipulations in these regulations, if that employee has caused considerable difficulties to business and damage to property on purpose or by negligence, the company may choose not to apply this ERP bonus to such employee.
3. If the company agrees to compensate an employee in the process of a legal dispute regarding dismissal between the company and the employee, either through compromise or mediation between the parties, these rules will not apply.

Supplementary Provision
Article 1 (Implementation)
These rules shall be effective as of May 1, 2009.
Agreement
We, employees of 000 Bank, agree to the company’s ‘Rules for Early Retirement Program Bonuses’ and understand it is effective from May 1, 2009.

No
Title
Name
Signature
No
Title
Name
Signature
1



2



3



4










(5) Agreement

On February 26, 20xx, the following two parties agree on these conditions for early retirement below:
“PartyA”000 Address:
“Party B” 000 Company Address:

- As follows -

1. Party A has decided to resign from the company voluntarily on June 30, 20xx. However, Party A may choose not to come to work after April 1, 20xx.

2. After signing this agreement, Party B shall pay current wages on each pay day until the end of June and, after Party A’s resignation, shall pay an early retirement bonus (ERP bonus) of ________ Won, in a lump sum. However, if Party A chooses not to come to work during the period from April 1, 20xx to June 30, 20xx, Party B shall pay the total amount in a lump sum, calculated by adding wages to be received until June 30, 20xx, with the ERP bonus. The parties confirm that there are no other wages or valuables remaining for Party B to pay Party A, except the aforementioned amount in relation to Party A’s resignation due to this agreement.

3. Party A promises that Party A will not take any type of legal action like making a civil or criminal claim, administrative claim, request for prosecution, petition, application for remedy, etc., against Party B in relation to termination of employment and this agreement between Party A and Party B.

4. Once this agreement is signed, Party A shall not reveal or disclose to rival companies or a third party (in any way and without prior written agreement from Party B) the trade secrets that Party