12+ Sample Severance Agreement Templates – PDF, Docs
Throughout the course of our lives, we will keep on facing difficulties. Things as simple as failing a test, to things that are much deeper like letting go of friendships that you thought were not suppose to end. These kinds of things are difficult to handle and it can cause us to be emotional. But we have to remember that sometimes, letting go is better than holding on. You may also see agreement samples.
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Severance Agreement Template
If you want to know what kind of agreement employers or companies use to better facilitate smooth transactions in telling their employees that they are about to be terminated or laid off, read along the next few paragraphs along with the important elements that should be included in the agreement. We will also be providing templates of this kind of agreement to give you a better view on what it looks like. In addition to that, we will also be adding tips on how to accept being laid off from your employer or company. You may aslo see free agreement templates.
But on how we are supposed to tell someone we are choosing to let go is probably one of the hardest things to do. Try to imagine that you are with your partner sitting on a bench and knowing that your partner has no idea you are about to let go of the relationship. Is it hard to say right? That is why companies handle these things through agreements. You may also see separation agreement templates.
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oxy.comWhat is a Severance Agreement?
The agreement that companies use when they are going to lay off someone who has done bad or good in the company is the severance agreement. The severance agreement or sometimes called the “separation agreement“, is the agreement between you and the company carries the details of all the things that will happen in an event where you will be terminated or laid off by the company. In simpler terms, this is an agreement in which if the employee signs, the company will be protected from any lawsuits filed against them if the terms are being met by the company. Those terms or compensations are the benefits which are called severance packages.
If you are an employer, it is important to make your severance agreement simple and specific. Simple meaning that the language used should be readable and understandable. Specific which means that every benefit being said is specific and not generalized. This includes the time frame and the amount of pay that will serve as a compensation for the employer to give him/her time to look for another job. The severance pay amount is just one of the other general elements that are supposed to be included in the agreement to lower the blow of being laid off or let go by the company. Here are the other elements:
1. Severance pay
As mentioned above, this serves as a compensation that the employee could use to sustain his/her needs and wants until he/she finds a decent job. But, you have to take note that the specific time that the company will continue to give severance pay depends on how long and how decorated the career of the employee was in their company. Their severance pay tends to be longer if he/she has performed well and was beneficial to the company’s growth and success over the years. You may also see release agreement templates.
2. Healthcare benefits
This is so useful especially if the employee you are going to lay off is working hard to pay hospital bills for one or two members of the family. This being part of the package can give the impression of the employee that the company still cares about his/her personal life. But again, the period of time the benefit is given will end depending on how long the employee has served and generated outstanding performances in the company. Either way, it is not too bad knowing that you still have healthcare benefits for a company you do not work anymore. But this does not mean you should only start looking for work if the health benefits stop coming already or are no longer available. You may also see termination agreement samples.
3. Confidentiality
In most agreements like this, the employer would request to keep things confidential and that the only ones who should know about this would be the employees. You may also see release agreement templates.
4. Non Disparagement
This means that if the employee will take and sign the severance agreement, he or she should not post a bad comment about the employer. This is needed so that the company will be assured of that. Since when do we ever want to be bad mouthed by people? With this being controlled, the reputation of the company or the employer will remain intact. You may also see parenting agreement templates.
5. Not using the company
With the severance being signed, the employee has agreed that in no situation that he/she will sue the company after being laid off unless if the terms and conditions of the severance agreement and package were not meant or was inconsistent. This is again to protect the company’s reputation and avoid going to court and facing company charges. You may also see settlement agreement templates.
Sample Severance Agreement
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Get Back Up
Being laid off from work is probably one of the most difficult things to handle in life. It makes it even more difficult if you actually loved your job and the people you were working with. It is hard to accept that you cannot see those familiar faces every day and that your daily routine would change. But no matter how down this kind of moment can bring one to its knees, there always has to be a time to get back up again and regain the strength to continue on with life. If you don’t know what are the things you can do to get back up in life, we will provide you those things. We will provide tips on how you can bounce back from a great loss and how to move on with life without being so bitter with your former company. You may also see printable agreement templates.
Take note of the following:
1. No Job? No worries
If you are already jobless right now, there is no need to worry too much. Take time to reflect on what you have experienced and breathe. If you are done with that, take a break. Break meaning go somewhere and try to travel or go hiking or camping. Do things that you had always wanted to do but could not because you were so engrossed at work. Do things that make you and were curious about. This can help in the recovering process and give you a better time to reflect. you may also see assignment agreement templates.
2. Share what you feel
Do not contain your sadness to yourself. Talk to people who you trust and who also knows how to listen. Gushing it all out will lighten the heaviness you feel when someone will finally empathize with your frustrations and disappointments. Sometimes all we ever need is a shoulder to lean on when we are done. You may also see personal loan agreement templates.
3. Be positive
This entails that you be surrounded with the positive kind of people who knows what you are going through. Never be ashamed to ask if they would want to hang out with you because that is what friends do. They support each other, in happy times or sad ones. Try to look at the positive side of everything and with that, this behaviour can be carried out to your view of your future despite being laid off just recently. You may also see sample employment agreement templates.
4. Accept
If you are laid off, just accept it and try to understand why even if they will say it is for the betterment for the company. Gather everything you have learned and bring it somewhere where it could be used again like the leadership skills you have gained or what not. If you cannot accept on what is real, it might give you more emotional drawbacks resulting you to be stuck with the feeling of being miserable. Get up. You may also see simple employment separation agreement templates.
These are basically the general tips on how to get back up after being put down or laid off. But do note that these tips will never be effective if you are not persistent and consistent with them. One day you might have the drive to be positive and in the next, you are just not in the mood for anything. As much as possible, be aware of the reality that you were laid off, the reality is that it gives you the opportunity to grow to a new environment soon after you get some deep reflecting and rest. Do not hate life because of its moments it brought you. Just remember that it is just a bad day, not a bad life. You may also see severance agreement templates.
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