Severance pay

justgettingstarted

When terminating an employee and offering a severance package, Should I have something in writing for the departing employee to sign?

sonny

Yep, I would and I would probably have an attorney write it or at least review it.

ritaanz

Usually when a company offers a severance package, a serverance agreement goes with it. These documents are usually drawn up by your legal beagles. The purpose is to protect the company from future lawsuits by the departing employee. They also contain clauses that allow the ex-employee to consult legal counsel.

The thinking behind this is why give away a severance package without getting something back in return.