Once an employer has decided that it is proper to terminate an employee, what are the best practices to facilitate that termination? For starters, among other things, the employer should strongly consider asking the departing employee to enter into a separation and release of claims agreement—which is more commonly referred to as a “severance agreement.” In this article, we explore a handful of the many important provisions that deserve very careful consideration when drafting an employee severance agreement.
When you need to let go of an employee, make sure the severance plan at your company is in top form by following the steps in the full article published on the COSE Council of Smaller Enterprises website.
Max Julian is a partner at Gertsburg Licata in the litigation practice group. He may be reached at (216) 573-6000 or at [email protected].
Gertsburg Licata is a full-service, strategic growth advisory firm focusing on business transactions and litigation, M&A and executive talent solutions for start-up and middle-market enterprises. It is also the home of CoverMySix®, a unique, anti-litigation audit developed specifically for growing and middle-market companies.
This article is for informational purposes only. It is merely intended to provide a very general overview of a certain area of the law. Nothing in this article is intended to create an attorney-client relationship or provide legal advice. You should not rely on anything in this article without first consulting with an attorney licensed to practice in your jurisdiction. If you have specific questions about your matter, please contact an attorney licensed to practice in your jurisdiction.
