Severance Package

A severance package is pay and benefits an employee receives when they leave employment at a company. In addition to the employee's remaining regular pay, it may include some of the following: An additional payment based on months of service Payment for unused vacation time or sick leave. A payment in lieu of a required notice period. Medical, dental or life insurance Retirement (e.g., 401K) benefits Stock options Assistance in searching for new work, such as access to employment services or help in producing a résumé.Packages are most typically offered for employees who are laid off or retire. Severance pay was instituted to help protect the newly unemployed.
Posts about Severance Package
  • Paradise Lost – Firing an Employee on Vacation

    … By Samantha Stepney. Are you considering firing an employee who is on vacation in order to avoid a scene at the office? We recommend that you reconsider this strategy for both legal and other reasons. Aggravated Damages All employers owe their employees a duty of good faith and fair dealing in the manner of termination. This duty is implied…

    Wendy Woloshyn/ 17 readers -
  • We Will Give a Loan to Anyone Who Can Fog a Mirror

    … is completely confidential. We will help you determine what your case might be worth and how we may be able to protect you from retaliation. For more information, contact attorney Brian Mahany at or by telephone at (414) 704-6731 (direct). MahanyLaw – America’s Whistleblower Lawyers Find me on Google +! This entry was posted on August 17, 2015, 1:31 am and is filed under Fraud Recovery. You can follow any responses to this entry through RSS 2.0. Both comments and pings are currently closed. …

    Due Diligence- 48 readers -
  • Steps for Surviving a Job Loss

    … with an attorney – If you have been offered a severance package, your legal rights to file a future lawsuit may be limited, so always discuss legal implications with a lawyer. Apply for unemployment compensation – The unemployment process can be complicated and you may find your claim denied. An attorney can help you qualify and can handle any… 12 readers -
  • Event: Lunch Seminar for Employers with Heather Hettiarachchi

    … and human resources specialist Heather Hettiarachchi will teach managers and business owners about “best practices” for employee dismissal. Topics will include: Your legal and financial obligations on termination How to structure a severance package Protecting yourself with a written employment contract To register, please contact our…

    Wendy Woloshyn/ 33 readers -