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Posts tagged "Severance Agreements"

Seeking the best severance package

Losing a job may terminate a worker's only source of income and important benefits, such as heath care. Some workers, especially those in senior positions, may be offered a severance package with continued payment of salary for a time, stock options, job-search assistance and other benefits. When employment contracts may not contain the terms of these packages, employers may offer severance agreements which contain employee benefits in return for the surrender of important rights.

Should an employee sign a severance agreement?

When an employee is terminated, an employer may offer a severance agreement that sets forth pay and benefits in return for a worker surrendering something, such as the right to sue. Some things should be carefully considered when employers propose severance agreements.

Getting a severance agreement after layoffs

Employees subject to lay-offs and other terminations are dealing with a multitude of emotions and insecurity while promptly clearing out their desk. During this stressful event, and even earlier in companies that are restructuring or engaged in layoffs, employees should consider the contents of severance agreements.

Important parts of a severance agreement

Receiving notice of a job termination and packing up and leaving a workplace for the last time provides little time to consider and review a severance package, especially under emotional duress. Some important matters, however, should be carefully considered when reviewing severance agreements.

CBS CEO severance package instructive

CBS CEO Les Moonves resigned on Sept. 9 after numerous sexual harassment allegations. Despite these serious charges, he may leave the network with a $120 million severance package. It is reported that CBS will donate $20 million of his financial settlement to organizations that support the #MeToo movement. His departure also provides important lessons about the importance of severance agreements.

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