Read Signature Severance Plan For Free

Dear [Employee Name], I regret to inform you that your employment with [Company Name] is terminated effective [date]. Four weeks of severance pay is being offered in exchange for signing the attached release of claims and returning the signed release to human resources no later than [date].

Peace of Mind: Hiring a lawyer to negotiate your severance package can give you peace of mind and help you move on from your job loss. Knowing that you have a legal expert on your side can give you confidence in your negotiations and ensure that you receive a fair and equitable severance package.

You should not sign a severance agreement if you haven't consulted an employment attorney, are considering a lawsuit against your employer, find the severance package insufficient, are being pressured to sign without review, fear professional consequences, or don't understand the agreement's language.

A severance package might look very lucrative after your employer ends the employment. Most employees agree to these packages, thinking that it'll support them in the hard times while they'll get enough time to look for another job. However, it is not advised to agree to the severance right away.

The Age Discrimination in Employment Act (ADEA) forbids age discrimination against people who are age 40 or older. It does not protect workers under the age of 40, although some states have laws that protect younger workers from age discrimination.

Severance packages often demand you sign a release waiving any right to sue the company or pursue further claims against it. So you might not wish to accept a severance package if you think you have been wrongfully terminated or discriminated against, and you might want to take legal action in the future.

The calculation behind the financial compensation offered in severance agreements varies from stingy to generous. Favorable severance agreements offer one month's worth of salary for every year of tenure with the company; while more frugal packages provide just one week's worth of salary for each year, experts said.