Both employer and employee may terminate a contract of service without waiting for the required notice period to expire, by paying the other party a sum equal to the salary that would have been earned by the employee during the required period of notice. - See more at: http://www.mom.gov.sg/employment-practices/employment-rights-conditions/contract-of-service-termination/Pages/contracts-of-service-and-termination.aspx#twon
