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SEVERANCE PAY PLAN & RELEASE Information & Benefits: The following information and benefits is what distinguishes us from other online providers.
Summary No law requires severance pay. Generally, only larger companies offer substantial severance packages to highly compensated employees to reduce the possibility of expensive lawsuits. Nevertheless (except in cases where employees are terminated for serious misconduct), many smaller sized employers may want to offer severance packages to long-term employees in order to soften the blow of being fired and reduce the possibility of future litigation. But treat your employees equally. If you are evenhanded and consistent in paying severance, you are less likely to face claims of discrimination
Benefits Many employers pay a set amount -- a week or two of salary -- for every year of employment. Some employers offer to pay for continuation of insurance coverage for a period of time after an employee is fired. An employer may offer counseling on career goals and job skills, tips on resume writing, leads for potential jobs, practice interview sessions and help in negotiating with potential employers.
Plan Administration Larger severance plans should have an administrator. This streamlines the payment process and, in the case of dispute over benefits, provides the employee an immediate access to a company representative.
Waiver and Release Whenever a severance plan is offered, the employer should receive from the employee a waiver and release. In the waiver, the employee warrants that they waive any claims for employment or re-employment by the Company, and agree to release and forever discharge the Company and their respective past and present officers, directors, shareholders, employees and agents from any and all claims and causes of action, known or unknown, arising out of or relating to his/her employment with the Company, including, but not limited to, wrongful discharge, breach of contract, tort, fraud, the Civil Rights Acts, Age Discrimination in Employment Act, Employee Retirement Income Security Act, Americans with Disabilities Act, or any other federal, state or local legislation or common law relating to employment or discrimination in employment or otherwise.
Mediation and Arbitration Mediation and Arbitration should always specify a convenient location (preferably, in the same county where they run their business). Mediation is a non-binding way to settle the dispute quickly and amicably. If unable to settle in mediation, arbitration is first option available. Arbitration is the preferred alternative to litigation because of speed, cost, and ability to maintain low profile (no info is publicly available).
No Modification or Waiver No modifications except those specifically agreed upon by the parties in writing. Any waiver of a term or provision will not act as a waiver of any other provision.
Entire Agreement This agreement constitutes the entire agreement of the parties and may be modified only in writing executed by both parties.
Notices Notices should always list the current and best addresses where each party may contact the other for whatever reason.Get your price for this agreement now! Real Lawyers. Real People. Spiegel & Utrera, P.A. : Affordable Agreements. Custom-Fit Contracts. Why do I need a Legal Contract or Agreement? SPIEGEL & UTRERA, P.A. is your one source for business legal services.
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| Spiegel & Utrera, P.A. | | Miami | Tampa | Fort Lauderdale | 1840 Coral Way 4th Floor Miami, FL 33145 Toll Free: (800) 603 - 3900 (305) 854-6000 Fax: (305) 857-3700 Natalia Utrera, Esq., Managing Attorney | 3623 West Kennedy Blvd. Tampa, FL 33609 Toll Free: (800) 658-5900 (813) 871-5400 Fax: (813) 870-2500 William M Homsi, Esq., Managing Attorney | 3526 North Federal Highway Ft. Lauderdale, FL 33308 Toll Free: (800) 465-8500 (954) 630-9800 Fax: (954) 561-7900 Natalia Utrera, Esq., Interim Managing Attorney | | Orlando | New York City | Long Island | 707 East Colonial Drive Suite B Orlando, Florida 32803 Toll Free: (888) 991-9700 (407) 898-5500 Fax: (407) 894-5700 William M. Homsi, Esq., Managing Attorney | 1 Maiden Lane 5th Floor New York, NY 10038 Toll Free: (800) 576-1100 (212) 962-1000 Fax: (212) 964-5600 Daniel S. Finnegan, Esq. Managing Attorney | 55 Jericho Turnpike Suite 202 Jericho, NY 11753 Toll Free: (888) 797-6200 (516) 338-9100 Fax: (516) 338-9200 Daniel S. Finnegan, Esq. Interim Managing Attorney | | Delaware | Chicago | Clifton, NJ | 9 East Loockerman Street Suite 3A Dover, DE 19901 Toll Free: (888) 641-3800 (302) 744-9800 Fax: (302) 674-2100 Courtney Riordan, Esq. Managing Attorney | 123 West Madison Street Suite 806 Chicago, IL 60602-4620 Toll Free: (888) 514-9800 (312) 443-1500 Fax: (312) 443-8900 Melody Ashby, Esq. Managing Attorney | 642 Broad St., Suite 2 Clifton, NJ 07013 Toll Free: (888) 336-8400 (973) 473-2000 Fax: (973) 778-2900 Michael L. Simon, Esq. Managing Attorney | | Los Angeles | Las Vegas | Atlanta | 4727 Wilshire Blvd. Suite 601 Los Angeles, CA 90010 Toll Free: (888) 520-7800 (323) 936-3400 Fax: (323) 939-5600 Rahulan Kathir, Esq., Managing Attorney | 1785 E Sahara Ave Suite 490 Las Vegas, NV 89104 Toll Free: (888) 530 4500 (702) 364 2200 Fax: (702) 458 2100 Michael R. Carrigan, Esq., Managing Attorney | 34 Peachtree Street NW Suite 1925 Atlanta, GA 30303 Phone: 404-329-1200 Fax: 404-329-4800 Tamara L. Klopenstein, Esq. Managing Attorney | | | | | | United Kingdom | General Counsel Club® | | Spiegel & Utrera, Ltd. "Your Gateway to Europe" 11 Murray Street, London NW19RE Telephone: 011 44 207 284 3700 Fax: 011 44 207 284 3533 Toll Free: 0 800 917 1200 USA, Canada and Mexico Toll Free: 1-800-546-5070 Fax: 0 800 169 2300 Russell D. Williams, Esq. solicitorwilliams@spiegelutrera.co.uk Managing Solicitor www.spiegelutrera.co.uk | Unlimited Legal & Business Advice JOIN TODAY! Toll Free: 1 (800) 734 - 9900 Fax: 1 (800) 520 - 7800 ClubAssist@AmeriLawyer.com Natalia Utrera, Esq., Managing Attorney | Back To Top |
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