Dear Mr Blake;
This letter serves as official confirmation that I am tendering my resignation from Biscuit Investments, effective immediately.
As you know, either party can opt out of our employment agreement provided that a month's notice is given. As I am due six weeks leave, which I am now taking, this will serve in lieu of notice.
Regarding this contract, I have had my attention strongly drawn to the fact that I have agreed not to undertake any stock trading on behalf on any clients of Biscuit Investments for a period of three months after the termination of my employment, and you may rest assured that I intend to honour this obligation to the letter. However, your suggestion that none of these clients may do business with any firm in which I am a partner is unfounded, and according to my legal advice, an untenable position in law.
Furthermore, I understand from Paul Bascombe that with the departure of myself and Mr English, Mr Barwell has decided to take early retirement, and the department for which I formerly worked is to be closed, making Bascombe redundant. Therefore the clause which specifies that I am not to enter a business which directly competes with Biscuit Investments does not apply.
In the light of the unpleasant scene which ensued when news of my intended departure became known, I do not intend to return to the company to clear my desk, and I would be grateful if any personal items are forwarded to English & Dodd Plc, at the above address.
Since I do not forsee the need for any further personal communication between us, I and Mr English take this opportunity to wish you and Biscuit Investments the success you deserve in the future.