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Am a full-time permanent employee for 17 years in a large corporation. Lately the company decided to change the employment terms when there is a transfer or a change in compensation. They would say: "Your employment will continue subject to the following terms and conditions, which supersede and replace any prior employment agreement, offer letter, or related addendum or amendment relating to the matters addressed herein. Upon termination you shall receive the entirety of your minimum statutory entitlements on termination, beyond which no further payments or benefits continuation shall be required. For clarity, common law principles respecting reasonable notice on termination will not apply." How can I avoid signing it without any consequences or being penalized?
You cannot be forced to sign the new contract or agree to the new terms but you also cannot stop the company from terminating your employment if you choose not to sign. However, if they terminate your employment they would owe you a significant severance package based on your age, length of service, and position.