Does a severance plan formula limit severance negotiations?
No. While most severance plans contain a formula to determine the amount of the severance payment (often based upon years of service), the formula […]
Is severance conditional or unconditional?
Almost all employment contracts and severance plans require the employee to sign a release and waiver of all claims against the employer as a […]
Is an employer required to pay severance?
No. An employer has no legal obligation to pay an employee severance, unless there is a contract, severance policy, or severance plan that creates […]
What is a “severance package”?
A severance package is a combination of money and benefits that an employer pays to a separated employee. A severance agreement is very similar […]
Separation Agreements from the Employee’s Perspective
From the employee’s perspective, some key provisions of a separation agreement include:
(1) The payment of the separation, severance, or settlement amount;
(2) The payment of […]
Separation Agreements from the Employer’s Perspective
From the employer’s perspective, some key provisions of a separation agreement include:
(1) A release and waiver by the employee of all claims against the […]